Mortgage Audit Service Client Questions

Voice Message From a Client

We love receiving feedback from our clients.

We appreciate when someone takes the time to give us their unsolicited opinion. Mortgage Audit Service take's pride in relieving good men and woman of the unnecessary burden of a fraudulent loan.

This Is A Growing Page...

More and more people are getting out of their bad loans, fraudulent contracts, and/or predatory loans daily. When we can be a driving force in helping these people through something that life changing, often clients wonder how they can let others in on getting their lives back. Our clients comments are real talk from real people who needed answers.

Mortgage Audit Service is the place to find answers!

Real Questions and Comments

These are real questions sent to us from real people, by borrowers such as you. All text is in its original form.

Jack,

We are so grateful you do what you do. You take the worrying, so easy for us and meaningful. I wish you and your family a Merry X-Mas and a blessed New Years coming.

Thanks,

Deana and Doug

Jack,

It was nice talking with you and I really appreciate the advice you gave to me about my loan to just (get on with my life and move on) You could have taken me on as a client and received payment but instead your Brooklyn honesty came first and for that I'm gratefull. Sorry about the Dodgers they should have beaten Philly in 5 but the better team did prevail.

Again thanks for the free advice

Best Regards

Chris Elk Grove,Ca

Jack,

Thanks for taking my phone call and forwarding a copy of your Complaint so quickly.

The level of detail in your report is impressive especially as it pertains to debt ratio and affordability. As you pointed out, the Broker did not proceed from an income verification data point because if he had, I would not have qualified at 72%. Instead, he used my disability income and my pending divorce to justify the loan to his boss and the loan review board.

I appreciate you working my package so expeditiously. This issue remains a detriment to my health but I feel I can breathe easier knowing I am in very capable hands. Please advise as soon as you receive a response. I understand that I am not to make any more mortgage payments until this is resolved-correct?

Sincerely,

Robert

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Hey Jack,

As always, thanks for the quick response. I just wanted to give you heads up that I have mailed the paperwork for another loan that I wanted you to look at and see if you can do anything to help. It would be great if they would reconstruct the loan at least, but let me know what you think.

Thanks,

joe

Hi Jack ,

I just wanted to thank you for taking the time to look at my current mortgage (hard money loan). I did receive your email and I am currently putting together the information necessary to evaluate where I am at with this. It may take me until Monday to get the paper work together although I hope to have it to you as soon as possible. Again I want to thank you again and appreciate you evaluating this so very much. Thank you

Jenni

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I was not sure if i should have received any type of authorization forms at this time regarding my mortgage refinance loan with Countrywide. I am still trying to secure the funds needed to pursue this case, and I understand if it’s premature to have any forms that need my signature until this payment can be met. Also, I appreciated the insight and honesty i received from my phone consultation and would like to send a heartfelt Thank You to Mr. Jack Conte for his professionalism My only question is, if after evaluating my previous lawyers evaluation on the strength of my case and reviewing my refinance loan documents in more detail, should i continue or is my claim against Countrywide not worth pursuing further? if it is I would like you to represent me. I still feel even though i did sign the contract what i signed was a fraudulent document and should hold no binding or valid merit in its current format. Countrywide actually refused to modify my loan terms by concluding i do not even qualify for the loan that they put me in. I have to live with the fact my error in trusting and then signing that loan contract has probably cost me in losing my home, but if there is any legal precedent that holds Countrywide with a responsibility in helping to create the circumstances that led to this loss I hope your firm can find it and at least it may help the next homeowner from falling prey to the deceit driven by profit that has corrupted the mortgage lending industry.

Thanks,

Peter

Questions

Kelly Cxxxxx asks:

Hi Jack,

I spoke with you a few weeks ago. In that time I had a forensic audit performed on my mortgage. Could you please take a look at the audit and let me know if based on this audit, if you represented me what you could do to help me and how much it would cost. The reason that I am sending you this audit is to save some time. I am sure that if you represented me, you would want all of the necessary documents to do an audit with your team, however, I want to know if I even have a case worth pursuing. My lender is Aurora and Homecommings. I have been making my full 30 year payment because I had money in savings. Now that is depleted. I am really scared and need help.

Thank You,

Kelly Cxxxxx

(415) xxx-xxxx

Jack Answers,

I asked Kelly who did her audit and why she was calling me, her answer was she heard about the company on the radio and they were cheap (as the saying goes “you get what you pay for”) – the problem, she didn’t know what to do with the audit. She was told by this “so called audit firm” they could recommend an attorney that would take her case after the audit was done… but it seems it was a scheme to get her money for the audit. An audit has no value unless you know what to do with it once it’s done. By the way it isn’t necessary hire a lawyer and pay a big fee. Yes we took the case, found how erroneous the audit was and did a new audit based upon her loan documents. And yes we definitely know what to do with the audit after it’s completed.

Fredy, FL asks:

"WE WERE PROMISSED 8% & 10% AT CLOSING THEY AUTOMATICALLY CHANGED IT TO 9% & 11% WHAT CAN YOU DO?"

Jack Answers,

If this can be documented (proven) there is a good case for getting the interest lowered and the return of all interest above what you were originally quoted.

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Jenny, CA asks:

"Hi, I would like to get help to audit my recent re-fi. I didn't get the program what my broker referred me to. it supposed to be a 3.7 fixed with a margin of 3.1. So first year is 2092.00, 2nd year is 2894.00, 3rd year, is 3111.00, 4th is 3345.00, 5th is 3595.00. My 1st statement arrived and the interest rate is 8.245%. Can you help me! thanks, jenny"

Jack Answers,

Without knowing what year you got the loan or seeing the loan papers it’s impossible to answer your question. My thinking is that you got what is known as a “teaser rate.” This rate is typically below the going market rate, and is used by brokers/lenders to entice borrowers to choose ARMs over traditional mortgages.

It seems that the broker put you into an initial low interest rate so that you could qualify for the loan thereby earning the broker a commission. It appears to be a classic predatory loan and you certainly should have a valid case against the lender and mortgage broker.

Jenny Follow Up,

"Jack, I do have some question about the statement you need from me. I don't seem to be able to find the good faith estimate. Is this the first part of estimated closing statement?

I am off at home so I can get all the doc to you. So far I found out the broker liar. He told me that it is no pre-pay penalty, and I found out this loan has a three year lock on it. I can get thru a year, but three years... I am so shock....

Talk to you soon.

Jenny"

Louise, CA asks:

"I believe I'm in a Predatory Loan, the lenders went bankruptcy shortly after I received my loan, in NY. They are being sued left and right for mortgage fraud. I would like to talk to someone. I am a senior, and I'm a first time homeowner. Bought it in sept. 04. I would like to investigate this situation."

Jack Answers,

There have been hundreds of lenders who have gone bankrupt (see our link Implod-o-Meter ), there you’ll find hundreds of lenders who have gone bankrupt, closed or been bought by other lenders. When this happens your loan is taken over by another lender and that lender becomes responsible for your loan - meaning that your current lender (the one you’re making payments to) assumes full responsibility for any Fraud or Violations from the Original loan documents.

Linda, MI asks:

"Hello Jack,

Thank you for working with us. I am sending you what we have right now and I'll continue to look for the other 2 loan documents. I have a feeling that the broker did not give us copies when we signed the documents, instead he gave us a CD. I opened the CD today and it is totally blank. My husband called him and he said that it may still be in his computer and will call his secretary to look for it. He said repeatedly that we really don't need those documents, I did not tell him what we are doing but I hope that he had an idea. I also had a feeling that he will not give us copies anyway, just by his tone of voice.

Well Jack, please let us know if you need anything at all anytime. Thank you so much for your help.

Sincerely,

Linda"

Jack Answers,

Sounds like Fraud to me! By the way this is fairly common, except for the CD that’s a new one on me.

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