Friday, March 5, 2010

If your Mortgage is NOT 30 year fixed rate, have it Audited.

I've been doing a lot of research into Mortgage loan audits. One thing I've found is there are a large amount of loans that contain errors which could play in your favor. If you bought or refinanced your home sometime between 1997 and 2006, it is advisable to have a mortgage audit done on your loan.  This time span was when most companies were pumping out loans at a high rate of speed.  This is also when most sub prime mortgages were generated.  The standard mortgage for years was always 30 year, fixed rate.  One lawyer I spoke with said if you loan is anything other than a 30 year fixed rate, have it audited.  Enough said.