Truth in Lending Violation Defense

Posted on Friday, August 5th, 2016 at 11:02 am    

The purchase of a home is often one of the most important purchases one will make in their lifetime, and one that carries of lot of financial weight. This significance is made clear in the Truth in Lending Act, which was enacted in 1968 as way of regulating the credit industry. It obligates lenders and businesses offering credit to give consumers a clear statement, known as a TIL disclosure, about the cost and risks associated with taking out the loan. This is meant to give the borrower security in having the exact costs of their loan spelled out for them, how much they are to put down each month, and the aggregate total of their financial commitment. Unfortunately, however, sometimes the exact opposite occurs when the lender violates the contract in some way- taking advantage of your time, money and financial security.

In dealing with such a drawn out, complicated legal process, it can be easy for the borrower to miss instances of violations that will harm their financial benefits and put them at unfair disadvantages that they shouldn’t ever be subject to. However, once a violation comes to your attention, it is difficult to know how to proceed in fighting for the compensation and correction of your loan. If not attended to properly, you may end up losing some of what you are entitled to. It is important that you have the proper guidance from someone who has experience in foreclosure defense who can walk you through the process.

Exercise Your Rights

There are many specifics surrounding a Truth in Lending statement, such as the required material the lender is obligated to include, the various regulations regarding your rights as borrower, and rules that are meant to give you more security. Without the guidance of a professional who understands the ins and outs of what makes up the complicated document and the varying implications that are not so apparent to others, it is far more likely that you will miss an opportunity to exercise your rights as your pursue action against a violating lender. At the Bradford Law Offices, PLLC, our Fayetteville foreclosure defense attorneys seek to provide you with the type of knowledgeable support that will keep you in the forefront of your case proceedings, and allow you to take the steps that will benefit you most. Some of the particularities surrounding Truth in Lending cases that our attorneys are equipped to handle include:

  • Analysis of accuracy of amounts listed in your loan disclosure, i.e. annual percentage rate, finance charges (late charges, prepayment charges, application and service fees), and total repayment amount
  • Detecting material mistakes made by lender, i.e. underreporting your APR and leaving off certain financial charges
  • Aid in planning monetary returns or as borrower, including principal, interest, and charges
  • Refinancing in order to tender full loan amount back to lender as required by law

Although working to fix the damage done against you in a Truth in Lending violation experience is quite possible, it is not a simple feat done without proper understanding of the various legal restrictions and regulations surrounding it.

Financing your home should be something that gives you security, and our defense attorneys at the Bradford Law Offices, PLLC, do not stand for the blatant injustices that sometimes occur against responsible borrowers. We firmly believe in representing our clients with the most support possible, and our experience in handling these types of cases makes us equipped to simplify the entire process and getting you what you deserve. You can’t afford to lose in a situation like this, and we want to help you come out on top. To speak with one of our attorneys and begin reviewing your case, call (910) 668-0006.