Mortgage Analysis/audit and refund...Is This for Real?

Someone posted about this a week ago, it is a scam. They are taking advantage of the perception that banks are screwing mortgage holders.

Lets just say for laughs your payment amount was miscalculated so you have been paying 100 more than you were supposed to if properly amortized. You just paid down your principle quicker. You saved money, what exactly are your damages? Say they calculated it 100 too low, yes you paid more in interest but you also had the money to invest and earn money, since they would not have charged you penalties you again have no damages.

It is a scam.

It is a scam. So what if you get your money back... the scammer has all your personal info and you are up for identy theft.

RUN from this offer. Talk to your mortgage company directly for an audit and you don't have to pay.

SCAM

My mortgage company does this on their own. Actually got a check back from them out of the blue with an explanation. Obviously, not all companies will be that forthcoming, but I don't think you need to pay another company to do this.

J.:

This is a scam. You give them information and they take it and run with it.

Leaving you holding the bag. If you are overpaying on your mortgage - the monies should be going to your principal so in essence you would be paying your mortgage off quicker.

This is like the e-mails that say "I am Nisal Naverone from Lithuania and I am the barrister for the estate of Joe Smith (insert your last name here) and we have $10M USD and you are the only living relative...." blah blah blah....it's a scam.

If it sounds to be good to be true. It usually is.

http://www.flaglerchat.com/forum/showthread.php?t=73549

http://www.nbc12.com/story/13494915/warning-about-homeown...

http://www.prurgent.com/2011-04-21/pressrelease165977.htm

I'd say it's a scam.

The letter I received went in the shredder.

Maybe it's because we have a PHFA mortgage, but we got refunds three years in a row because our property taxes went down so much (new casino in town) that they refunded the excess from our escrow account. And they lowered our payment. Check with the BBB before hiring anyone like this, though.

scam. if you think there is anything wrong with your mortgage you need to contact a reputable mortgage broker and have them check to see if you could save by refinancing. this other stuff that comes in the mail / email is all just scammers. stay away from them

We did this last year. It seemed like a no risk thing...it cost $150 to do the audit and if you weren't owed anything, they refunded the money. If they found we had been overcharged, we would pay the fee and get the difference.

In the end, I think it took a month or so, they found that all was on the up and up w/our mortgage and they refunded our money with no problem.

I say go for it - found money is awesome!