Predatory Lending in Florida

Predatory Lending in Florida

Predatory lending refers to unfair, deceptive, or fraudulent practices used by a lender during the loan origination process. Predatory lending imposes unfair and abusive terms on unsuspecting homeowners which can have devastating consequences. Fortunately, there are many laws in place to protect homeowners from predatory lending, such as The Real Estate Settlement Procedures Act, Truth in Lending Act, Equal Credit Opportunity Act, and The Home Ownership and Equity Protection Act.

If you need a bankruptcy attorney in Orlando, you can visit our office to get more information.

If your lender engaged in predatory lending during your mortgage origination you may be able to sue your lender and stop the foreclosure of your home. Predatory lending violations may entitle you to void the mortgage and apply 100% of the payments you made directly to principal, thereby eliminating all the interest charges. In addition, you may be able to sue and recover damages for the harm caused by the predatory lending practices. If you suspect that you were the victim of predatory lending, do not hesitate to contact Florida Law Advisers, P.A., for legal assistance. Our foreclosure defense attorneys have extensive experience helping homeowners in predatory lending and foreclosure defense matters.

Examples of predatory lending include:

  • Excessive fees
  • Steering borrowers toward less beneficial loan programs, such as adjustable rate mortgages
  • Unfair prepayment penalties
  • Hidden mandatory arbitration clauses in the mortgage agreement
  • Unnecessary refinances that provide no benefit to the homeowner

Consult With a Bankruptcy Attorney in Florida

When you visit our law firm for your free consultation we will provide a thorough review of your case and explain the legal options available to you. If you were the victim of predatory lending we can take legal action to defend your rights and seek justice for the harm caused by the illegal lending practices. Our bankruptcy attorneys are dedicated to fighting predatory lending and protecting homeowners in our community. We carefully scrutinize all of the mortgage documents and loan terms to identify any evidence of predatory lending. If we do uncover that your lender has engaged in predatory lending we will aggressively seek the maximum penalty allowed under the law.