How To Know If You Have A Predatory Loan Violation
What May Cause A Loan To Be Illegal
Unaffordable Loan- You were put into a mortgage and your income is not able to pay the monthly loan payment because your loan payment is adjusting higher.
Making loans based only on the value of the collateral without regard to the borrower’s ability to repay the loan.
Bait And Switch- Were you promised a low interest rate, but then you ended up with a higher rate at closing?
Failure To Disclose Loan Terms- Federal and State laws require creditors disclose the terms of the loan to borrowers, and when those terms are not disclosed or are inaccurately disclosed these terms are in violation of the law.
If you were a victim of any of these predatory lending violations :
Misrepresentation
Fraud
Miscalculation
Mistake
Deception
Non-Disclosure
The T.I.L.A. “Truth In Lending Act”
The Real Estate Settlement Procedures Act
Federal and State Lending Provisions
You may be entitled to get back all of your origination fees “points” plus interest. Have your loan restructured at no cost to you through a loan modification San Diego homeonwers program. Obtain a better rate, new loan terms and lower payments.
To determine if you have any violations with your home mortgage loan you should have a qualified attorney who specializes in the loan mortgage audit process also know as a forensic loan audit. I can offer some great recommendations if you need a loan audit completed on your loan and the attorneys will offer this Free of charge to qualified candidates. Drop me a post or an email at mikekench@gmail.com for more details.