Las Vegas Mortgage Attorney | Loan Review Service
Reviewing Loan Documents for Legal Violations
Laws exist to protect homeowners from predatory lending practices. Despite the existence of these laws, violations by lenders are commonplace. At The Schwartz Law Firm, in Las Vegas, Nevada, our attorneys review loan documents to determine whether a client may be eligible for relief because of poor disclosures in a lender’s documentation.
Our lawyers review loan documents to determine whether a client may be a victim because of violations of the following laws:
- Truth in Lending Act (TILA)
- Real Estate Settlement Procedures Act (RESPA)
- Home Ownership and Equity Protection Act (HOEPA)
- Deceptive Practices Act
Examples of Poor Loan Disclosures
We know what to look for when reviewing mortgages. Our attorneys make sure that the fees charged and the actions taken by lenders at the time of the closing are permitted under the law.
Some of the violations we identify include:
- Abusive pre-payment penalties
- Kickbacks to brokers who deliver loans with inflated interest rates
- Churning or loan flipping by refinancing
- Falsifying information, such as income, to secure loans
- Charging hidden fees
- Sale of unnecessary insurance products
- Unnecessarily steering borrowers into subprime, high interest mortgages
Why Undertake a Loan Review?
By identifying problems such as these, our lawyers put clients in the best possible position to negotiate short sales. Lenders are more willing to entertain short sales when the alternative may be expensive litigation that reduces the net value of a property even further.
When lenders are not willing to discuss loan modifications or short sales even after we have identified problems with a bad loan, litigation is an option if the loan is less than a year old. Our attorneys can advise you about your options and aggressively pursue litigation on your behalf.
