East Orange, NJ Spring Valley, New York
Foreclosure Mortgage Modification
Truth in Lending Attorneys
New Jersey Mortgage Lawsuit Attorneys
Few people make investments or become involved with personal transactions that have more worth than their home. You get a loan, take out a mortgage and pay a great deal of fees and costs. According to federal law, everything that you pay must be included in a bank's Truth in Lending Statement.
If a bank or lending institution fails to show that information, the borrower can rescind the loan, and the bank is responsible for repaying all the fees, costs of financing and attorneys fees. Although you may suspect your bank is being unethical, it can be difficult to prove without the assistance of experienced lawyers.
At Bleichman and Klein, we represent clients in Spring Valley and throughout New York and New Jersey in truth in lending matters. We sue banks, title companies, brokers and lenders to protect the rights of our clients.
Real Estate Settlements Procedures Act
Under the Real Estate Settlements Procedures Act (REPSA), lenders are expected to be accountable for payments that borrowers make to loans and their proper application to the account. Many lenders apply mortgage payments to junk fees or late fees, or they won't pay tax escrows on time.
Some banks use a forced place insurance policy, holding higher insurance levels and using your money to ensure themselves. Often times, people don't realize this until they receive a tax bill when their escrow should pay their taxes. In other situations, people receive cancellation notices from their insurance, even though their escrow should pay their insurance.
If your mortgage company is not paying what it should, we can help. We file lawsuits against mortgage companies that are unethical with the payments they receive.
Ideally, an attorney will review the financing papers at the time of the closing and determine if fees are there. Working with us at the start of a real estate transaction can help protect you from unethical and illegal charges from your mortgage company at a later time.