There are so many things happening in the financial world today with mortgage rates going up and down that you almost have to watch the news everyday to keep up. There must be a simpler way to follow what is happening and is this something that you want to participate in? If you hear the words "DNA Mortgage Reduction" what comes to your mind? Do you think it is something you have to apply for or is it something you have to buy? Well let’s take a look and see what DNA Mortgage Reduction is so we can define it first so we will have a better understanding of the term.

A DNA Mortgage Reduction is a review of the mortgage you currently have in place to make sure you were not a victim of predatory lending practices. This means that your debt to income ratio was higher than 50%. If it was then a mortgage lending company took advantage and secured a mortgage for you that you could not afford and was more than your house was worth putting yourself in an upside down position on your home if you tried to sell. This means you owe more on your house than it is worth. What the DNA Mortgage Reduction program will do is provides a team to conduct a forensic audit which will go over your settlement and closing statement, your loan application and your income tax forms.

It will then be determined if you were a victim of the predatory lending practices. If you were, you will be asked if you want to move forward by completing a full audit to see if the lending institution will correct the settlement. There is a cost to this and you have the choice when the audit report is complete to do a couple of things. You can either go forward with the report yourself to see if you can get a settlement. Ask the same company to continue with the full audit and have them go forward with the paperwork to try and settle the case for you or you can do nothing. Most people that go forward have been fortunate. Why not continue with the company that started the process? They already have the lawyers and CPAs on staff.

If you feel this may have happened to you and you know that you are paying more for your house than it is worth then you may want to consider going forward and filling out the preliminary paperwork to see if it may be in your interest to move forward. There were so many people that did go forward in buying their houses when the real estate was such a high commodity. Now, most people are looking for the DNA Mortgage Reduction program to help them get out from under the demanding payments they no longer can afford. See if you find the criteria of the program.