In short, the fee you’ve been charged is not for a forensic audit. Loan modification companies are not allowed to charge any fee or secure payment for a service that has not yet been completed. Without even knowing it, you may be involved in a mortgage scam.

The possibility of losing your home is frightening, but the reality that you could potentially be scammed while in the process of trying to save your home is even more frightening. Scammers pray on innocent people in desperate financial trouble; they claim to be able to lower your monthly mortgage payments, they promise successful results with a money-back guarantee, and others say that they are affiliated with government or your lender. These fraudsters get away with these scams all too often.

If you are being told by a loan modification company that the fee is for a “forensic audit,” do not trust them. The process is quite sneaky. These “auditors” offer to have an attorney look over your mortgage documents to determine whether or not your lender followed the law. These auditors also promise that you will be able to use their report to avoid foreclosure, speed up your loan modification process, reduce the amount you owe or cancel your loan altogether. These auditors take advantage of homeowners who are desperate for help, and this is where the trouble lies. There is no evidence that forensic audits will help you get a loan modification or any other mortgage service.

The best thing you can do is speak with many lenders and brokers and gather as much information as you can to make a safe and rational decision. It may also be necessary to speak with a lawyer, who can help you navigate this process. Stephen K. Hachey, a Florida real estate attorney, that can help you make the most of a difficult situation. Contact him at 813-549-0096.

This post was written by Stephen Hachey. Follow Stephen on Google, Facebook, Twitter & Linkedin.