Help Stop Predatory Lending with a Specialty Lawyer
Predatory lending has been a big problem in the United States now for over ten years. Though the majority of the problems came to light during the time period of the mortgage crisis and financial problems that occurred around 2008, there still are issues that exist today and many people have fallen victim to the lending practices and continue to struggle with them today. Many of the foreclosures and mortgage defaults that have been seen in recent years are due to predatory lending tactics that were used by lenders. If you feel that you have been a victim of predatory lending and want to try to regain your financial freedom and your life back then you will want to look to enlist the services of a lawyer specializing in predatory lending cases.
Many people are not even aware that there are in a situation involving a predatory loan until they start to run into financial problems. You may not even realize that the terms of the contract of your mortgage are abusive to you and laden with all kinds of fees that are designed to keep you paying more and more until eventually you cannot keep up with payments any more. Practices involving things prepayment penalties, yield spread premiums, excessive amounts of fees and mandatory arbitration can all be signals that you have fallen victim to a predatory lender. The problem is most people do not realize it until it is almost too late.
That is why you need to have an experienced lawyer on your side to help fight for your rights. There are laws that have put in place to protect against predatory lending, such as the Truth in Lending Act or the Real Estate Settlement Procedures Act, but you need to have an attorney on your side that knows these laws and when they have been violated so that you can get protection.
With the right lawyer on your side defending you, you may be able to stave off foreclosure proceedings and processes or defaults and save your home. Talk to a lawyer today that has deep knowledge and understanding of the federal and state laws in your area regarding predatory lending. They can help determine if you have been a victim and plan the next steps for you to defend yourself against this practice so you can get a settlement that is fair to you.