For example, a loan modification attorney will have an experienced forensic analysis done on your loan file to see if tnay of the following exists.

(1) Did each borrower or person with ownership interest get two copies of the Notice of Right to cancel with the Rescission date filled in? (Federal Truth in Lending requirement - TILA).

(2) Were the material TILA disclosures made, and were they accurate if made (APR, Finance Charge, Amount Financed, Total of Payments). If these disclosures were not or defective in nature, an extended three year right of rescission exists.

(3) Were the good faith estimate and preliminary truth in lending statements given to the borrower within 3 days of giving the loan application? (if not, a right to rescind may exist).

(4) Were advance fees improperly collected?

(5) Was the broker/loan officer properly licensed at all stages of the loan origination process?

(6) Was the ARM / Option ARM / Negative Amortization Loan accurately disclosed in the note and adjustable rate rider?

(7) In a non-purchase loan, did the borrower receive the required three day right to rescind?

(8) After the broker ran the credit, were the FICO scores disclosed and factors affecting risk properly disclosed?

(9) Can the lender produce the promissory note and prove it has the right to collect the debt?

(10) Is the note and riders clear and comprehensible (or do we have grounds to argue that a contract was never formed - that there could be no meeting of the minds)?

(11) Unfair Competition - If we find a violation of RESPA, Truth in Lending or HOEPA, or other law, do we have grounds to assert that the lender has engaged in unfair, deceptive and/or fraudulent business acts and practices and seek the imposition of a constructive trust forcing the lender to disgorge any ill-gotten gains or to seek an injunction?

(12) Were the loan documents properly signed, executed and notarized?

(13) Option Arms / Negam Loans: We will review whether or not these loans are predatory in nature and potentially unconscionable. The terms of the note and adjustable rate rider may conflict making it virtually impossible to properly disclose this in a truth in lending statement.

(14) Is the loan unconscionable and thus unenforceable?

(15) Was their any fraud, deceit or undue influence used against the elderly?

(16) If the lender targeted minority groups, were the contracts negotiated in the language of the borrower?

(17) Was there predatory underwriting on stated income loans (i.e. underwriter did not verify borrowers stated income via salary.com or in another manner as required by their internal policies - turning a blind eye and not following their own underwriting policies to get a loan done)

(18) Were there excessive fees that Violate HOEPA? Or YSP fees that are predatory in nature that feathered the nest of the broker at the expense of the borrower?

(19) Was the borrower asked to sign conflicting disclosures or documents such as two different ARM disclosures or two different truth in lending statements that reflect two different APR's or Interest rates (evidencing potential bait and switch or loan fraud practices)?

(20) Are there any other legal grounds to prevent foreclosure on the property and/demand a favorable loan modification?