Judging from the number of companies that now advertise on the Web as doing "forensic loan reviews" on behalf of homeowners, one would think we have finally achieved the Holy Grail to forestalling foreclosures. Well, we haven't. The forensic loan review is expensive (pricing is usually $2,000 to $5,000) and even if it is successful in discovering problems in your underlying mortgage documents, that's usually not enough to make a difference with your bank. The forensic loan review is an in-depth scrutinization and subsequent report on all documentation, transactional data and associated aspects of the residential loan origination process. The review often focuses on the closing documents to see if they contain violations of the Truth in Lending Act (TILA) and the Real Estate...
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