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 | Truth In Lending Overview |
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Truth in Lending Act (TILA) -Foreclosure Defense
One of the laws that give homeowners the most protection against mortgage lending abuses is the Truth in Lending Act (TILA).
This act is designed to provide borrowers with adequate disclosures and to force lenders to make accurate disclosures of the cost of borrowing money. In many cases, if a mortgage company sells a loan to an investor or other lender, the new loan hold can still be held liable for any violations of the Act.
When homeowners are pushed into foreclosure, they may have a few remedies against mortgage servicing abuse under this law. Claims under the Truth in Lending Act can be powerful defenses to foreclosure.
Although the Truth in Lending Act itself may be challenging for non-real estate professionals and non lawyers to understand, the disclosures it requires are clear.
Contact us for a TILA AUDIT to see how we can help you!
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| AVOID FORECLOSURE |
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Our lawyers understand what it takes to defend a foreclosure action in court. You can let the legal system work for you in the foreclosure. The banks lawyers know that the only easy victory is from those home owners who do not defend themselves.
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