State Laws Provide Added Predatory Lending Protection
Las Vegas, Nevada, and Miami, Florida, Foreclosure Defense Lawyers
In addition to protections against predatory lending provided by federal statutes, individual U.S. states have additional laws that may apply in your mortgage foreclosure defense. When you contact us at The Schwartz Law Firm, Inc., we will thoroughly review your loan to identify violations that could justify legal action to stop the foreclosure or provide leverage for you in negotiations with your lender.
Florida and Nevada, like other U.S. states, have their own laws intended to prevent and combat predatory lending, along with various forms of fraud and other deceptive business practices. Generally speaking, these laws supplement federal statutes such as the Truth in Lending Act by providing:
- Additional rights and remedies
- Longer statutory periods in which to take legal action against a lender or other business
If you have been victimized by predatory lending and paid unfair or improperly disclosed charges, we may have a longer period of time to file a lawsuit citing a state law such as the Nevada Deceptive Trade Practices Act or the Florida Deceptive and Unfair Trade Practices Act. Many claims based on TILA or RESPA violations must be made within one year, whereas state laws may allow three to five years to file such claims.
Unjust Enrichment — Coercion — Deception — Other Deceptive Acts
At The Schwartz Law Firm, Inc., we are familiar with Florida and Nevada state laws that enable you to file claims and recover damages for predatory lending practices that may include:
- Unjust enrichment, which occurs when a lender charges an undisclosed yield spread premium or other excessive fees
- Bait-and-switch tactics, or the use of coercion to get you to accept a high-interest loan
- Unfulfilled promises to refinance a high-interest loan if it becomes a problem in the future
Our attorneys work to put you in the best possible position to save your home, recover damages or preserve your credit rating — depending on your specific circumstances and chosen path. Please contact us today if you believe predatory lending or deceptive practices may be factors in your pending home mortgage foreclosure.
