Q. What if there are no discrepancies found in my paperwork ? Can you still help us?

A. LFI can refer you to attorneys who have successful track records of modifying loans for their clients.

Q. Should I file for bankruptcy to save my house?

A. That is only for you and an attorney decide.

Q. I've already talked with my lender and they just want all their money. Can you still help me?

A. Many people have experienced this kind of inflexibility from their lenders before calling LFI.  Imagine their response if indeed evidence of loan fraud, predatory lending, or servicing violations is discovered, and they are contacted by an attorney who represents you.

Then there is the issue of servicing companies that are powerless to modify the loan. These are companies that do not own the Note and must abide by the Pooling and Servicing Agreements annd the requirements to  modify a loan.

Q. I'm currently in bankruptcy. Can you still help?

A.  It is advisable to go ahead with the document examination, on the advice of your attorney.  Who knows, LFI  just might find the culprit that forced you into bankruptcy in the first place. 

Q. Do I have enough time to stop my foreclosure?

A. Up until the foreclosure sale occurs there is still hope. If a sale date for your house has been set, you need to act fast. In these cases, you get emergency attention. If need be, LFI can suggest attorneys that could get involved to stop the foreclosure sale. Again, time is not your friend so you better act fast.

Even after the Trustee Sale has occurred, it may still be possible to get it set aside.  That has happened with attorneys that I work with.  

Q. How long does it take for you to complete the audit once you receive all of the paperwork?

A. Anywhere from several days to several months. It takes about a week to complete the examination of all your document. Keep in mind, what you see is just a whole lot of papers packed full of numbers and probably words you've never heard of. The LFI examination includes detailed research and investigation of what was this and what was that on the day you closed your loan. What was the par interest rate on that day, what where the most probable comps the appraiser should have used, what was the index of the one of four indexes the lender could have used on your last rate adjustment. Essentially, every word or figure on every page has to be examined for it's end sum or meaning. LFI has to investigate the servicing of the loan to insure compliance with State and Federal regulations and relationship to the original intent of the Note. There is a lot of attention to detail in the Forensic Science of Documents.

LFI does offer a one day service and eight hour service, for additional cost.

Q. Can you help me improve my credit rating?

A.  Be very cautious with anyone who claims they can repair your credit history. These folks typically turn out to be a rip off. Right now, of course, the best thing you can do to help your credit is to prevent a foreclosure.

Q. How long do we have to act?

A. Time is of the essence when you are behind on house payments and is most certainly not your friend in this situation. Each day that passes makes it that much harder to get a work out agreement with your lender that you can live with. The home foreclosure process in California usually takes about 110 days. When LFI finds evidence of loan fraud, or Predatory Lending, your attorney will typically contact the lenders, and they will typically stop the foreclosure in order to give their legal department time to review the case. Pending on their case load, the foreclosure could be put off for up to six months or longer.

Q. What can loss mitigation do for us?

A. The goal of loss mitigation is to work out an agreement between the homeowner and the lender that will stop foreclosure proceedings permanently. Lenders are more likely to respond favorably when there are violations of State or Federal regulations discovered in your loan package, or current servicing violations. The last thing they want is a law suit. If enough violations in your documents, or servicing history, the lender will have little choice but to modify the loan or face judicial litigation.