Mortgage Audit Company Promises Refunds

A Colorado Springs homeowner receives an unusual Christmas delivery.

It was a letter from Mortgage Auditing Program promising a big refund if he let them audit his mortgage.

But Larry Tanner said it came with a big catch.

When he decided to call the number on the letter he reached a case worker and was told it would cost him money.

“He told me if I sent them $249 he would investigate my case … and would be guaranteed at least $1,500,” said Tanner.

Tanner continued to ask the case worker several questions and decided against paying the company.

He said we would normally throw something like this out, but said the company had his loan amount and other personal information and it was more believable.

“They had all my information, they knew everything about me,” said Tanner.

News Stations in Cleveland and Florida also reported viewers in the area receiving similar letters.

The company appears to be based out of Utah. Our station was unable to reach someone representing the company.

According to an article by bankrate.com, the National Consumer Law Center said audits are usually a waste of money. It goes on to say that even if there is an error, most banks will not change your loan.