If you are facing mortgage foreclosure, we will thoroughly review your loan, the mortgage terms and the lender’s conduct in offering you that loan. Some of the most important protections are based on a federal law called the Truth in Lending Act.
Please contact us for a mortgage review — even if you believe you received a good loan. Many people are surprised to learn the exact terms of the loan, and many have benefited from foreclosure protections we can readily explain to them.
The Truth in Lending Act (TILA) requires lenders to disclose to you the true cost of the money you borrow. As an example, you may have a promissory note that says, “$500,000 at 6 percent interest.” However, $10,000 of that $500,000 may actually be paid to your mortgage broker — not as part of the loan to you, but a cost required for you to get the loan. Under the TILA, this charge and the impact on your actual interest rate must be disclosed.
The TILA specifies that lenders must show you what is a finance charge and what is the amount financed, giving you an accurate picture of the true cost of your money over the life of your loan.
Although the Truth in Lending Act itself may be challenging for non-real estate professionals and nonlawyers to understand, the disclosures it requires are clear. A lender’s claim that violations of this Act are oversights is generally not credible.
Violations of the TILA may enable you to recover:
Our lawyers and staff work for you, and we want the best outcome in your foreclosure defense case. This can involve talking through your overall financial situation and the decisions you must make about staying in your home. Contact us today for the legal help you need.
"Since the first day we met you, you have taken the pressure from us and guided us through this whole foreign process. Sam and Brian are wonderful and I think that trickles down into the rest of the office staff. I cannot say enough about your law firm and the people in it!!! You were right about everything. Brian was so on it yesterday. I was saying a little prayer the whole time but he is wonderful as well and reassured us everything was going to be ok. He just guided us along, so we knew what to expect."
- Shawn R.
"Schwartz Law firm did an incredible job of handling the sale of our home. They handled our biggest fear of managing the negotiation with the big bank, and simplified what could have been a frightening process for our family. Without their help, I do not believe we would have been able to negotiate the sale of our house in this economic environment. No one should try a workout directly with a bank without their help."
- Bob D.
"I just wanted to say THANK YOU for all of your hard work, organization and vast knowledge in helping us with our bankruptcy. I know we are not completely done yet but I did not want you to go on leave without letting you know what a wonderful help you have been. You are so calm and patient and make us feel like we are the only client you are working on. Your whole office is incredible."
- Shawna R.