Many parents aid their children in obtaining an auto loan, or student loans. Of the three major expenses that an individual often faces in their lifetime, two of them come at an early age. The third, being mortgage loans, will come later in life, along with maturity and the beginning of our own family.

Although there are a variety of circumstances in which we must take out a loan, there are primarily these three that are more likely to happen. Other reasons to take out a loan may include debt repayment, business related purchases, or home renovations. It isn’t uncommon for an individual to take out two or three loans in their lifetime. Some take a shorter period of time to pay off, others can take much longer.

A forensic loan audit is fairly expensive, so not everyone should decide to get one done just in case there are errors. But, if you’re unable to make your payments and are facing foreclosure, it might be well worth the investment to have a professional audit your mortgage agreement.

Since mortgages deal with an enormous amount of money, even a small mistake can add up to thousands of dollars over the term of your mortgage. When a professional mortgage auditor performs a forensic audit, they scrutinize every detail of your mortgage. They will recalculate all the numbers and look for any information that wasn’t fully disclosed by the lender.

If there are any errors or fraudulent activities found in your mortgage, it can give you the leverage you need to stop foreclosure proceedings. In some cases if the errors total as little as $35, you may be entitled to a full refund of all of the finance charges, interest payments and closing costs that you have paid from the beginning of the mortgage.