The Forensic Audit scam; don't be a victim. Scams just don't seem to end. Now we have another scam, called the Forensic Audit, that milks money out of those in the process of foreclosure. It makes homeowners believe that they can sue the lender, so that they will be able to save a fortune on principal reduction.
I listened to a webinar about this, and they said that, of course, the homeowner has money, because they haven't been paying their mortgage. So, they will be able to pay this company thousands of dollars for their case to be handled. Therefore, I called up to see who Forensic Audit supposedly got reductions for, and they wouldn't give me names. They stated that it was confidential and private information, in other words...a scam. Just another idea from people who must enjoy ripping off those who are so desperate they they will try anything.
Loan modifications are not really the answer, but you have to realize that for yourself, as I did. I spoke to a woman on Friday who believed that Bank of America would be giving principal reductions in May. There are a few out there, but it's not worth mentioning. Do you remember the telephone game? You would whisper a short sentence into someone's ear, and they would then turn and whisper it to the person seated on their other side. By the time the message had passed through a dozen people it was so different from the original that it had everyone laughing hysterically. That's what is going on here.
It sprang from a law suit in Boston filed against Countrywide. They had a small number of incorrectly written loans. A forensic audit scam is taking this small bit of information and giving bad advice to already troubled homeowners. Don't ignore letters from your lender. This is terrible advice.
I know that it's good to dream. I've done it myself, but it's not going to get you out of the situation that you're in. Check out my website, www.losangelesavoidforeclosures.com to compare the differences between short selling and foreclosure. You will see that there is a major difference. If you want your dreams to become a reality, you want to do a short sale. Don't let the bank foreclose.
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