Hey Readers! I’ve been comin across some crazy stuff the past few days from a few different blogs around the web which I just had to share with you. Check em out below…
Of the six categories used in the rankings, Denver’s highest is number nine (of 50) for its comparatively low crime rate (via the Denver Business Journal). Denver’s lowest ranking is number 27 for its cost of living, helping Washington, …
The median hourly parking rate in the city garages is $8, which is a lot more than the average national urban hourly rate of $5.62.
TBA, but similar Denver B-Cycle rates range from $40-65/year, plus usage fees after 30 mins. Velib (Paris, France), Operated by French advertising firm JCDecaux in exchange for advertising rights to 1600 outdoor displays. …
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How A Mortgage Audit Can Stop A Foreclosure
Nearly every person across the United States is shaken up a bit because of the current housing disaster; even if they themselves have not been affected, chances are they know somebody who has. As the threat of foreclosure looms large, more and more people are presenting their cases to Mortgage Auditors in an effort to avoid the foreclosure.
A Mortgage Audit is an in-depth analysis of all documentation corresponding to a real estate loan, including contracts, records, and actions taken by both lender and borrower. The objective of a mortgage audit is to locate any mistakes, violations, erroneous charges or deceptive practices that may have taken place while the mortgage was conducted, and it will also establish if the mortgage is in compliance with federal and state banking regulations. With the support of Mortgage Auditors and Mortgage Auditing Specialists, thousands of home owners are battling against foreclosure, and many are winning.
Take, for example, the Mosby family of Miami, Florida, who after being foreclosed upon, had their loan audited, took their lenders to court under the Federal Truth and Lending Act, and were awarded their house back, mortgage-free. While not everyone has been able to pull off such dramatic results, as the result of an audit, it has been found that over 80% of homeowners are eligible for a refund of some kind, 11% in excess of $10,000.
One of the most important contributions to the current mortgage disaster was the widespread acceptance of loans with adjustable rates, sometimes multiple loans for one borrower. While in the short run it seemed to give potential homeowners with a window of opportunity, the margin for error presented a multitude of problems later.
Intricate contracts with pages of fine print allowed lenders to take advantage of ill-informed borrowers. Most homeowners are your average Joe who may not understand every aspect of the contracts they sign, and often have no idea that violations are happening right under their noses.
The most common violation occurs during the initial closing stages in which lenders understate prepaid finance charges. Other violations include overcharges on rate adjustments, mathematical errors and if the lender selects the wro1000ng index value or mistakenly credited extra principal payments. Identifying these violations, as well as others, as the result of a Mortgage Loan Audit can result in a refund of all finance charges, closing costs and interest payments, sometimes upwards of tens of thousands of dollars.
One down-on-his-luck borrower missed a number of payments of his $250,000 adjustable rate mortgage. After a mortgage loan audit, however, it was found that the bank had miscalculated his payments and owed him over $30,000. A Denver homeowner’s mortgage loan audit found almost $40,000 in overcharges, which the lender refunded to him. Another mortgage audit conducted for a borrower in Maryland discovered numerous errors in the bank’s calculations, entitling him to a $12,000 refund. The success stories continue to pour in, all testimonies to the value of Mortgage Audits for homeowners facing foreclosure, and even those who aren’t.
By: Christina Wells
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