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Predatory lending lawyers from the Loan Modification Outlet provide a new opportunity for homeowners to fight back against lenders that took advantage of them during the home loan process. Our foreclosure prevention lawyers review the mortgage documents that you signed. We investigate whether the information and calculations provided in those documents was accurate, truthful, and met the requirements of the applicable federal and state statutes.
The penalties for failure to comply with the Truth In Lending Act can be substantial. Many mortgage lenders and creditors violate the Federal disclosure requirements and are could be sued for twice the amount of the total finance charge on the mortgage. Home mortgage loan amounts can be a very significant amount that most lenders would not want to risk losing in court. The lawyer's fees are typically awarded to the consumer when the lender looses the case. A predatory lending lawsuit could originate from the consumer within a year of the violation; however there are certain provisions that potentially could be applicable enabling the plaintiff up to 3three years to file the law suit against the mortgage lenders.
These predatory lending laws were put in place to protect homeowners, but yet some mortgage brokers and lenders react as if they have done nothing wrong. It is important to be educated and interpret the law how it applies to your mortgage experience. If you are facing foreclosure, the Truth In Lending Act can be cause for an injunction that stops the foreclosure process immediately. Predatory lenders have taken advantage of homeowners long enough and it is important for you and your lawyer to fight back while the law is on your side. This term can apply to all aspects of the mortgage industry and refers to the practice whereby a creditor put a borrower into a loan that the borrower will probably not be able to repay. Federal laws like the Truth In Lending Act and the Real Estate Settlement Procedures Act require that mortgage lenders disclose specific terms of the home loans to borrowers and when these specified terms are not properly disclosed the predatory lending laws provide severe monetary penalties against these lenders.
The Loan Modification Outlet has assembled a team of Christian lawyers and result driven mortgage negotiators to enable homeowners to receive better option than foreclosure. Our team of foreclosure attorneys strives to help people retain their homeownership by modifying their mortgage with affordable monthly payments. |