Victim of Predatory Lending?
In the last decade, the mortgage industry exploded, fueled in great part by what are now considered predatory lending practices. Mortgage brokers sought to close every deal, engaging in a wide range of illegal or unscrupulous practices, including bait-and-switch tactics, the use of false or fraudulent appraisals, and misrepresentation of fees and rate adjustments. If you face mortgage payments that are beyond your means or foreclosure proceedings, or have lost your home because of predatory lending practices by a bank or mortgage lender, call the attorneys at Shaffer & Gaier to see how they can help.
At the law firm of Shaffer & Gaier, our lawyers bring more than 45 years of combined legal experience to people in Pennsylvania, New Jersey and Florida. No foreclosure dispute is too large or too small for us to handle. Because of our extensive experience, we expect that every case we handle will be different. Nonetheless, our commitment to you is the same as it is to every client — we will help you pursue the best possible outcome as cost-effectively and quickly as possible. We believe that our success is built on trust, hard work and attention to detail.
Protecting You against Predatory Lending Practices
We handle cases involving all types of predatory lending practices, including:
Bait and switch — We will fight for your rights when a lender promises one rate, but delivers another, or when the terms of the mortgage agreement, including length, amount financed or adjustability, are not what were promised before or at closing.
Hidden fees and costs — We will help you seek legal relief when you face fees or costs that were not disclosed before or at closing.
Negative amortization loans — We will help you get out from under the terms of a negative amortization loan, in which the amount you pay on a monthly basis is less than the interest due, with the difference being added to your principal balance.
Loan flipping — Loan flipping is a practice whereby a mortgage broker convinces a party to refinance his or her loan on a regular basis, increasing the principal amount on the loan, as well as the payment. The mortgage broker typically gets a significant commission and the homeowner simply gets some cash, but also more debt.