New Jersey Unfair Mortgage Practices Attorney
Buying a home is the single largest financial transaction that most people undertake. While it is an exciting moment for the home buyer, mortgage lenders are aware that they have a significant advantage. Lenders deal with mortgages every day. They know what is normal, what is legal, what is acceptable, and what is unconscionable. They also know that most borrowers do not fully understand their rights.
Mortgage lenders and other real or fake financial institutions take advantage of unsuspecting buyers by issuing unfair loans, engaging in unfair collection practices, selling property at inflated prices, and engaging in a variety of other unscrupulous conduct. If you believe you are the victim of unfair mortgage practices, a compassionate and dedicated New Jersey unfair mortgage practices lawyer at Lance Brown & Associates can help you fight back. We will put a stop to unfair lending practices, aggressive debt collection tactics, and other mortgage-related scams. We will make sure you get justice for any damage you have suffered as a result of unfair lending practices or other mortgage-related fraud.
Common Types of Lender Misconduct
Consumers are protected by a variety of federal and New Jersey state laws against predatory lending practices, including the federal Truth in Lending Act (TILA). The law understands that borrowers are often at a disadvantage compared to lenders both financially and in terms of knowledge and sophistication concerning mortgages and other loans, and puts restrictions on lender conduct.
Lenders may engage in a variety of wrongful or predatory conduct, including:
- Misrepresenting the terms of a mortgage agreement or failing to disclose important terms
- Changing the terms of a loan just before signing or even after signing
- Making a loan in a different amount than the amount agreed upon
- Failing to disclose the actual costs and risks of a loan
- Extending terms to a distressed borrower that make default and foreclosure more likely
- Extending loans with excessive fees, high interest rates, or other unconscionable terms
- Failing to disclose that a buyer should qualify for more favorable loan terms
- “Packing” loans with unnecessary and unrelated credit insurance products that do not actually benefit the borrower
- Marketing expensive or unnecessary loan products to unsophisticated individuals or people with limited capacity
- Falsely inflating appraisals to force buyers to pay more than the property is worth
If your lender has been less than forthcoming during mortgage negotiations or after signing, the New Jersey unfair mortgage practices and predatory lending attorney at Lance Brown & Associates is here to help.
Mortgage Foreclosure Scams
Not all illegal mortgage conduct is perpetrated by actual mortgage lenders. Many scam companies prey on people struggling with their finances by pretending that they can stop foreclosure and solve all of your financial troubles in exchange for money, property, or your livelihood.
The mortgage scam attorneys at Lance Brown & Associates help clients fight back against fraudsters who take advantage of people at their most desperate. We help investigate and pursue perpetrators of a variety of mortgage scams including:
- Companies claiming to represent the government or to be directly affiliated with the lender
- Companies that falsely promise to reduce your mortgage payments or prevent foreclosure in exchange for payment or legal rights
- Companies that issue loans with brand-new hidden terms stuck in the contract on the last day (the classic “bait and switch”)
- Companies that take your deed and rent the home to you, falsely promising to use your rent payments to cover your mortgage payments
If you are dealing with aggressive and unfair conduct by your mortgage lender and are worried about losing your home, you don’t have to deal with your problems alone. Don’t torture yourself with sleepless nights filled with worry and anxiety, and don’t let your creditors get away with shady and abusive conduct. Call Lance Brown & Associates at 609-587-5100 to find real solutions and effective, lasting debt relief.