West Palm Beach Predatory Lending Attorneys
The rate of foreclosure in America has increased significantly during recent years. Sometimes foreclosure happens because of debt overload or job loss, but in other instances, homeowners are the victims predatory lending practices. Predatory lending involves intentional deception or misrepresentation of the terms of a mortgage at the time when a loan is originated. It may also refer to efforts to lend to individuals who are not qualified, with an aim to profit from their anticipated default.
If you believe that you have been targeted by an unscrupulous lender and are facing foreclosure as a result, we may be able to help. Contact a West Palm Beach predatory lending attorney of Eric N. Klein & Associates, P.A., at 561-353-2800 for legal counsel and representation pertaining to your foreclosure defense. Do not wait until it is too late and your home has been sold in foreclosure.
The Anti-Predatory Lending Act
Because predatory lending practices cause so much damage to the national economy, an act was passed to protect you, the homeowner, from lenders who could try to deceive you. The act deals with:
- Stricter checks into the ability of potential borrowers to pay back the loan
- Prohibiting predatory lending tactics
- Secondary mortgage market participant liability
- Creditor loan origination responsibility
- More disclosures to potential borrowers
Contact Us
If you or a loved one fears the loss of his or her home, contact a West Palm Beach predatory lending attorney of Eric N. Klein & Associates, P.A., at 561-353-2800, today. Your future financial security could be within your grasp if you take that important first step.
