The Truth in Lending Act (TILA) requires lenders to disclose credit terms and the cost of consumer borrowing as an annual percentage rate. Regulation Z, issued by the Board of Governors of the Federal Reserve System (the FRB), implements TILA.
The purpose of TILA is to promote the informed use of consumer credit by providing for uniform disclosures about its terms and cost. Particular TILA disclosure requirements apply when a loan is secured by a borrowers dwelling, and TILA permits the borrower to rescind a loan transaction that involves the borrowers principal dwelling, in certain circumstances.
In the current mortgage market, many homeowners are unaware that there are TILA violations when they originated their home loan. Based on such, we can file a law suit based on such violation and seek to rescind the loan. What this means for the homeowner is that it can stop a foreclosure and undue the loan that is not right for their current financial situation.
To get started and determine if you have a TILA claim and/or for a free and confidential consultation, please contact our office toll free or via email to speak with an attorney.
If you have already spoken with one of our attorneys, or would like to start your matter, then go to our Client Services & Forms page to sign and return the appropriate retainer agreement to our office. As soon as we receive your documents, we will contact you for additional information or documents as may be needed.
