Can You Fight Back Against Your Lender?

If you are a victim of predatory lending or mortgage fraud, it's sometimes possible to have your mortgage voided and to apply 100 percent of your payments to the principal balance. There are certain consumer protection laws in place that are truly affective in helping homeowners fight against lenders who are trying to foreclose on their homes.

Many consumers are tricked into signing documents they don't understand. These same documents cleverly hide fees like the yield spread percentage (YSP) and charges. Does your loan have a prepayment penalty? Maybe your lender paid money to your mortgage broker and your weren't aware of this "kick back". Or maybe you signed a disclosure at closing stating that you were not canceling (waiving your right to a 3 day right of rescission)?

Even though these issues may be be insignificant to you, they are very significant in bringing suit against your lender. A simple review of your loan documents can uncover these predatory lending law violations and save your home.

Many homeowners are unaware that they can fight back against their lenders and win!

The Truth in Lending Act (TILA) is a very powerful tool in preparing a defense against your lender for violations of predatory lending law. If simple violations of the TILA can be proved in your loan documents, then you can sue your lender. That's great news in a market where borrowers think they have no defense against big lenders with deep pockets.