For advice on consumer law, you can contact Scott C. Borison at the firm. He has obtained results for his clients including removing and eliminating second mortgages.
Consumer law is an area that the firm has been lead into after seeing the abuses that occur by lenders and others. The focus of the firm is on violations of federal law such as the Truth in Lending Act which sets forth a number of required disclosures that many lenders simply ignore. The reason they ignore them is that they are confident that an unsophisticated consumer will never discover what they did wrong. If you have completed any of the following transactions within the last three years, there may be issues to be addressed:
- Home refinance
- Home "equity" loan
- Second mortgage
- Purchase of an automobile with an extended warranty
- Repossession or foreclosure
- Been sued by anyone you owe in a state other than where you live or where you entered into the contract
- Harrassed by a collection agency
- Been subject to “forced place”* insurance
*This is expensive insurance that a lender may buy for you!
All of these transactions involve the Truth in Lending Act, Fair Debt Collection Practice Act or the Homeowners Equity Protection Act . Many people are lured in by claims of "no cost" refinances -- but think about it. Why would they do it? They do it because they are making money. When they say "no cost" all they mean is that they are not asking you to come up with cash. Instead, they take the money out of your new loan. Your principal balance goes up and your loan starts over -- you now are thirty years from payoff. When you hear something that sounds too good to be true -- it most likely is not true! In addition to federal laws, each state has its own consumer protection laws. These areas are complex. Their complexity adds to the Lenders' confidence that no one will raise these matters. Legg Law Firm, LLC. can help you with these types of issues. The potential remedies for a consumer include potential rescission of any liens or mortgages against your home, reduction or elimination of finance charges and other "fees" that may have been collected from you as well as reimbursement of attorneys fees and other costs.