Predatory Lending

De Novo Firm has successfully stopped foreclosure through litigation. Using both state and federal remedies, De Novo has been able to negotiate lower payments and recover damages for its clients.

The Federal Truth in Lending Act provides remedies for loans that were issued in violation of its provisions and are considered predatory loans. There are several types of loans that are considered predatory. Some instances include loans that were written in English and signed by non-English speaking individuals, loans that involve creative financing without notice to borrowers, and fraudulent misrepresentation of the income of borrowers.

Remedies under the Truth In Lending Act (TILA) include actual damages, rescission of the loan, punitive damages, and attorneys fees. Contact our office today for a free consultation if you believe you were the victim of a predatory loan.

 

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