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Violation of Truth in Lending Act

Protecting You From Violations of the Truth in Lending Act

The Truth in Lending Act (TILA) requires lenders to provide borrowers with full disclosure regarding the actual costs of a loan. However, some lenders have persisted with hiding certain costs and terms of the loan, leaving borrowers with significantly more debt than they anticipated.

At Fradley Law Firm, P.A., we are experienced advocates for homeowners and business owners in Florida. Don Fradley has practiced law for 30 years and also owns and operates Jupiter Land and Title Co. With his experience in law and in real estate, he provides one-stop, full-service assistance. Contact us to schedule a review of your mortgage. We can tell you if you are paying more than you should.

You May be Entitled to Receive Financial Compensation

The Truth in Lending Act specifically delineates the details a lender must provide to borrowers. If these requirements are not fully met, TILA provides borrowers with legal recourse against the mortgage company.

During your mortgage process, you should have received several disclosures about the true costs of the loan. These likely included the annual percentage rate, the total amount financed under the loan, the number of payments and the amount of those payments as well as the total dollar amount of finance charges. If you did not or are uncertain if you did, Don Fradley can help you know if you are entitled to take legal action.

If it is discovered that your mortgage company violated the Truth in Lending Act during your real estate purchase, TILA specifies damages you may receive. These include:

  • Actual Damages — the amount of excess interest you paid
  • Statutory Damages — the additional compensation for the TILA violation
  • Punitive Damages — the ability to rescind the transaction and/or receive a significant settlement

A Thorough Review Will Reveal Violations

Often those facing foreclosure were targets of predatory and fraudulent lending tactics. However, TILA violations can extend to those with seemingly normal mortgage terms. The only real way to know if your real estate lender has not fulfilled legal obligations is to obtain a comprehensive review of your loan terms and your lender conduct.

Contact us for a review of your real estate mortgage documents and terms. Call 561-743-8800.