US Loan Auditors Opens New Office in Santa Clara to Help South Bay Victims of Predatory Lending

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Santa Clara, Calif. – May 25, 2010 – US Loan Auditors, the premier California-based forensic real estate loan auditing firm serving victims of predatory mortgage lending abuse, has opened a new office serving the South Bay/Silicon Valley area at 2055 Laurelwood Road, Suite 110 in Santa Clara.

The new Santa Clara Branch of US Loan Auditors

“The San Francisco Bay Area is a ticking mortgage time bomb,” Barker said.

US Loan Auditors, the premier California-based forensic real estate loan auditing firm serving victims of predatory mortgage lending abuse, has opened a new office serving the South Bay/Silicon Valley area at 2055 Laurelwood Road, Suite 110 in Santa Clara.

“We are excited to bring our services to the South Bay residents that were victims of loan abuse and predatory lending,” said Shane Barker, one of the founders of US Loan Auditors. “There are many people we can help in the area and we look forward to partnering with the San Jose/Santa Clara community. We’ve already joined the CalAsian Chamber of Commerce.”

Amazingly, earthquakes are not the biggest threat to the Bay Area. An estimated 47,000-57,000 “Option ARM” loans with a value of $28 to $31 billion are located in the Bay Area. The economic threat is most of the loans are expected to be recast in the next two years.

According to data from US Loan Auditors, 19.32 percent of all loans originated in the Santa Clara and San Benito Counties between 2004 and 2008 were so-called “Option ARM” loans that have a history of demonstrated predatory lending and mortgage loan abuse. As of today, a full 28.36 percent of those loans are now 60 days delinquent or in foreclosure.

“The San Francisco Bay Area is a ticking mortgage time bomb,” Barker said. “There are many people in the South Bay that can really use our help right now. We’ve made great strides helping people in Sacramento. We’re really excited to be able to help people in the Bay Area gain the legal leverage to fight predatory lenders.”

US Loan Auditors is not a loan modification firm, but instead they help victims of predatory lending abuse investigate their claims by using the science of forensic accounting. They combine the principles of finance, law, banking and accounting to go after the abusive lenders and recover relief for California homeowners.

Hundreds of US Loan Auditors customers have found relief from their lenders such as a reduced principal balance on the mortgage, lowering of the interest rate, a decrease in the monthly required payment, stopped creditor harassment and some clients have been able to stop foreclosure proceedings. Of course, the results may vary and are dependent on the facts around an individual case.

Best of all, homeowners that feel they were taken advantage of by a predatory lender can actually get an initial consultation from US Loan Auditors at their new South Bay office for absolutely no cost.

US Loan Auditors is committed to not only helping homeowners fight fraud, they are making a difference in their community through their charitable division called the USLA Care Campaign. If you know of a worthy local cause, please let the USLA Care Campaign know by e-mailing care(at)usloanauditors(dot)com.

For more information about US Loan Auditors, or get a free initial consultation for your mortgage loan, please call (408) 775-7143 or visit them online at http://www.usloanauditors.com.

Media Contact:
Shane Barker
Phone: 888-55-AUDIT

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