Rhode Island Subprime Loan Lawyer
Anti-Predatory Lending Attorney
What is predatory lending? It is basically the practice of taking advantage of unsuspecting borrowers through the process of deceptive loan practices. Consumers lose billions of dollars annually due to predatory lending practices, which can include unnecessary points and fees. Since the housing bubble collapse, new regulations have been enacted to protect consumers from these practices, but there are millions of homeowners suffering from the consequences of these practices. Many are now facing foreclosure due to these practices, which could have been avoided. If you are facing foreclosure and believe you were misled regarding your loan, BK Law Group PC and its Massachusetts and Rhode Island foreclosure defense attorneys, will be happy to meet with you to discuss your situation.
You may be the victim of predatory lending if you have had a new home purchase or refinance within the last 10 years. Some things to consider as possible ways you may have been affected include:
- Your lender made your loan based upon the equity in your home, without regard to your ability to repay.
- You were given a subprime loan with a higher interest rate when you qualified for a lower one.
- You were initially sold on one loan program, but were told when closing came around that, that program was no longer available, resulting in a higher interest or more costly loan.
- Your lender included high fees which were not properly disclosed into your loan amount, causing you to pay interest on them for the life of the loan.
- Your lender or broker encouraged you to refinance multiple times, charging new fees and penalties each time and rolling them over into the new loan.
- Your lender hid the true nature of your loan obligation from you.
- Qualifying you for a loan based on a minimum payment loan that was scheduled to dramatically increase after a short introductory period, resulting in your not being able to afford the monthly payments.
Contact Foreclosure Defense Lawyer Gail Balser
When faced with the effects of predatory lending practices, many consumers have found little relief from their lenders when attempting to obtain relief from a foreclosure. To save your home and avoid foreclosure, you will need a professional foreclosure defense lawyer to pursue your rights and fight your lender with every tool available, including legal action against any predatory practices that may have occurred with your loan. Attorney Balser has been helping residents of Massachusetts and Rhode Island for over 20 years and has successfully saved numerous clients from foreclosure.
If you have been the victim of predatory lending practices, contact an Attleboro and Providence Foreclosure Defense Attorney for a free initial consultation to discuss your situation.