So I went to Richard from a referral for help refinancing my house which was underwater like many other people. He looked over my loan closing documents and gave me some regurgitated lines about how there is no assignment of mortgage, and lender was notorious for closing all these bad loans, the government may have already paid them for this loan, and the lender may have used robo signing. Pretty much everything that was included in a 60 minutes special he told us that we had a good case to use as leverage against the bank to help out in a refinance. He than proceeded to to suggest that he do a forensic audit of our loan documents to find out what corners were cut and where we could specifically go after the lender to use in negotiations. The price for this was $700 and if we did not want to proceed any farther we would be sent back $200 and end it right there.
He did his "forensic audit" which ended up being a standard form that is he has probably used for multiple people and just changed the names and address to fit. It didn't cite anything specific to my loan that the lender did wrong. All it did was regurgitate laws and regulations concerning borrowers/lenders and their respective responsibilities. Basically this audit was worthless. Than he convinced us that should proceed with fighting the bank and that would cost $1500 now and another $1500 as he did more work and got closer to a settlement. I sent him $1500 and was all in, I wanted him to reduce our loan balance so that we would have equity and a lower payment. After not hearing from him for about a month in December I finally hear back from him after the holidays. He proceeds to tell me that the lawyer that uses and works with can no longer do anything he promised. To his credit he did refund my $1500 and even the $200 from the original $700 deposit. But in the end I ended up paying $500 for a bogus forensic audit that isn't worth the paper it is printed on.
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