Speak with a Foreclosure Defense Attorney in St. Petersburg!
By definition, predatory lending may include any unethical or fraudulent
practices by a lender in the loan origination process. A lender may attempt
to deceive a borrower or may act in a way that is unethical during the
loan process, placing a borrower at serious risk of defaulting on his
or her loan in the future. The FDIC (Federal Deposit Insurance Corporation)
further defines predatory lending as "imposing unfair and abusive
loan terms on borrowers". When you consider that a borrower victimized
by predatory lending may have an unclear picture of the real terms of
his or her mortgage, it is easy to see why some
foreclosures may be attributed to predatory lending.
Most borrowers are unaware that they were the victims of abusive lending
practices until they are behind on their mortgage payments or are already
facing foreclosure. If this describes a situation you are currently experiencing,
do not wait to consult with a St. Petersburg foreclosure defense attorney
at our law firm. At LeavenLaw, we represent homeowners throughout Florida
who are facing foreclosure and who have been victimized by predatory lending.
We can offer you a
free case review to discuss your case and have offices in St. Petersburg,
Clearwater to better serve you.
Examples of Predatory Lending
Proving that you were the victim of predatory lending may offer you an
opportunity to successfully challenge foreclosure proceedings. However,
this process is often complicated and it may be difficult to gather evidence
that will prove that you were the victim of these practices.
Predatory lenders may make use of practices such as the following:
- Falsifying information such as expenses, income or down payment amounts
for borrowers to get a loan
- Appraising a home falsely so that they could lend more money than the home
is actually worth
- Arranging loans they are aware that the borrower cannot pay back
- Offering refinancing to borrowers in need of cash
- Making high-pressure sales with high interest rate financing
There are many examples of predatory lending that cannot be covered here.
With a skilled attorney, you can make sure that you are not being taken
advantage of and that you have the tools you need to take back control
of your finances.
By reviewing your mortgage agreement and all factors involved in your loan
and also your foreclosure lawsuit, an attorney at our offices may be able
to build a plan that allows you to save your home.