By Tara Tyrrell

According to the research firm RealtyTrac, a record 2.9 million homes fell into foreclosure in 2010, with banks seizing more than 1 million homes. By the end of December, roughly one out of every 500 housing units in the U.S. had received a foreclosure filing. More than 3 million foreclosure notices are expected in 2011. One still hard to find statistic: 80% of the homeowners who do what their bank says and avoid the use of professional companies to assist them are the ones that lost their homes to foreclosures.

Read more on Tila Solutions Stops Foreclosures with Forensic or Securitization Audits & Expert Negotiations…

First let’s review to see if this is the first time that Bank of America has been accused of pretending to modify loans:

BofA Sued AGAIN Over HAMP: Bank Accused Of Lying About Lost Paperwork

Arthur Delaney - 07/12/2010 02:00 PM In a new lawsuit seeking class-action status, homeowners accuse Bank of America of systematically and deliberately failing to comply with the Obama administration’s mortgage modification program by lying to borrowers about missing paperwork and fudging their financial information, among other things… (Huffington Post)

Read more on Bank of America Sued by Arizona and Nevada for Fraudulent Loan Modifications…

Let’s take a look at some of the more common illegal foreclosures:

1. The lender who is foreclosing on you is not the lender on your deed of trust. This is ok if all the proper assignments are recorded. Of course, the lenders set up MERS and very few loans have the proper chain of title. If this has happened to you, then you need to consider getting a Securitization audit to track the deed of trust, and to track the note. You could just possibly save your home! Here’s one of the key reasons why homeowners are now demanding a Securitization Audit. It is a new day. The Homeowner had first the laws of TILA, RESPA, HOEPA and ECOA on his side – and Forensic Audits proved that the banks lied to the homeowners when they gave the loans. But now again, they lie when they foreclose on his home. There’s an audit to empower homeowners with the laws of the land once again. That’s the Securitization Audit.

Read more on Illegal Foreclosures are Opening Loan Mod Doors…

Last week the several major newspapers released the news that Bank of America was finding “errors” in the paperwork. The Bank claimed that they found maybe 10 to 25 errors in the first 100 files reviewed; of course many are concerned over the bank’s inability to say if it was ten or eleven, or twenty-five. This week, despite their admittance of “flawed foreclosures” (that’s just a pretty word for predatory foreclosures or fraudulent foreclosures) they announced that their Foreclosure Frenzy will resume at full speed in 23 states (the judicial states) and Bank of America also claimed foreclosure numbers should be around 100,000. GMAC also announced they will resume their foreclosures as well. JP Morgan Chase has remained silent on the subject thus far.

Read more on Bank of America and GMAC to Resume Foreclosures…

Tila Solutions Consultants are contacted every hour of every day by homeowners who are trying to understand what a predatory loan is and to determine if their loan is a predatory loan. They feel the need to make sense out of their downward spiraling financial situations that seems to be far beyond any ordinary financial struggles.

Read more on How Can You Tell If You Have a Predatory Loan?…

Thousands of people are losing their homes to foreclosure or filing bankruptcy to prevent the loss of their home through foreclosure every month. In fact, recent reports from industry insiders are claiming that there are more than 7,000 bankruptcies being filed each day, while some have projected that big banks like BofA and Wells Fargo could be releasing as many as 25,000 homes to foreclosure proceedings by December of 2010. In many instances homeowners have been led down a not-so-merry path, often being told that their home is under review for a loan mod, which inevitably is denied, as a foreclosure auction date is sent to the homeowner.

Read more on Predatory Servicing Practices are Causing Many to End up in Foreclosure…

Over the past several days three of the major banks have released to the news that they have stalled foreclosures. A closer look reveals that the lenders GMAC, Chase, and Bank of America have only stalled foreclosures for an estimated two to four week window in 23 states. The 23 states are those which specifically use the judicial system to get foreclosures completed. This means that if you are in a state that does what is known as a non-judicial foreclosure, such as California, then your foreclosure is not stalled.

Read more on Lenders Are Still Foreclosing in 27 States…

By Melanie Atherton

Congress has been working on new legislation that is designed to overhaul current financial regulations. This legislation points fingers in key critical areas across the nation’s economy. Important for homeowners is Congress’s plans to form a new agency to crack down on deceptive mortgages and other financial products in the future. It also aims to better protect consumers, tighten the reins on financial institutions and stop rewarding executives for taking reckless risks to fatten their quarterly earnings and bonuses.

Read more on Congress’s Future Plans Speaks Volumes of the Foreclosure Crisis…

Once you have missed a payment the lender is not your friend. Missed payments equal more money for the lender. The more the lender gets, the happier he is. The best way for the lender to get more money out of you is to increase your monthly payment through accrued interest from late payments or missed payments, late fees and penalties. It is a real money maker for the lender. This has always been a fact and all homeowners know it and accept it.

Read more on Your Lender is Not Your Friend…

By Ryan Forsythe

Often the people who come to Truth in Lending Auditors feel that they have been the victim of fraud perpetrated by the banks. The type of fraud that now has them in foreclosure, and desperately trying to get a loan mod. They often feel that the bank or broker ran a scam on them. They feel betrayed and untrusting. Often this distrust will prevent them from taking any action at all. Sadly, They’ll lose their home to foreclosure all because of a predatory loan.

Read more on Are You a Victim of Bank Perpetrated Fraud?…