Why Lawyers Look at Truth in Lending in Foreclosure Cases

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The video above discusses specific issues our foreclosure attorneys look at regarding a client’s foreclosure case. Part of those issues involve whether the bank committed fraud when the loan was made. Was the loan a result of predatory lending practices? Were deceptive or fraudulent steps taken by the bank during the origination of the loan?

When there is reason to suspect this is the case, a Truth in Lending Act (TILA) audit can prove your lender violated your rights in a foreclosure lawsuit. TILA is a federal law designed to protect consumers against deception, fraud, and predatory lending practices by banks and other lenders.

Also known as a forensic loan audit, the Truth in Lending Act audit is a thorough investigation and disclosure of all of your loan documents.

TILA violations happen more often than people realize.

Your home loan may have legal violations, or you may be a victim of predatory lending. Federal law is unforgiving regarding violations, and the penalties can be substantial. If your lender committed even a minor offense, your whole mortgage may be rescindable or void.

The law requires that a bank or other lender must clearly disclose key terms of the loan arrangement and all costs to borrowers before borrowers engage in credit transactions and sign loan documents.

  • Does the lender foreclosing on your home really own your mortgage?
  • Did your bank reveal the amount of the loan and the payment amounts?
  • Were all credit terms disclosed?
  • Did your lender reveal all due dates and late charges?
  • Did they disclose the annual percentage rate (APR) for mortgage?
  • Were all service and application fees disclosed?

If any terms were breached, we can use these transgressions effectively against your lender. Evidence of such violations serve as leverage and basis for a foreclosure defense, as well as negotiations for options such as a short sale or loan modification.

Were Your TILA Rights Violated?

It may be wise to investigate your loan and see if you are a victim. Our attorneys conduct TILA audits only upon your instruction and only when it may serve your best interests.

Speak with an experienced Florida attorney at our firm today.
Call 855-Kramer-Now (855-572-6376)

If we discover violations through a loan audit, you may have legal grounds to sue your lender and possibly rescind the loan – which means your loan is voided in its entirety. A Truth in Lending Act audit can also motivate the bank to work out new, more manageable terms with you. Using TILA, we are often able to restore our client’s credit, or recover excess interest you have paid, plus other types of damage.

Contact TK Law to learn what defenses you have against Orlando foreclosure, including Truth in Lending Act audits. We also investigate violations of the Fair Debt and Collection Practices Act (FDCPA) and Florida’s Unfair and Deceptive Trade Practices Act (FDUTPA).

Get Help with Legal Issues Now! - Call 855-Kramer-Now (855-572-6376)
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