New Website Launched to Assist Homeowners in Determining Predatory Lending Issues Involving Banks and Other Lending Institutions
More than 80% of recent mortgage and refinanced loans under scrutiny because of potential violations of the Federal Truth in Lending Act, "Sueyourlender.net" has launched a national campaign that protects homeowners from illegal lending practices.
Las Vegas, NV, February 11, 2009 --(PR.com)-- With more than 80% of recent mortgage and refinanced loans under scrutiny because of potential violations of the Federal Truth in Lending Act, a Las Vegas-based company, with an additional office in Costa Mesa, CA, has launched a national campaign that protects homeowners from illegal lending practices.
The website, www.Sueyourlender.net offers assistance to homeowners in determining whether banks and other financial institutions, mortgage lenders and / or brokers failed to comply with the TILA (Truth in Lending Act) when drawing up new mortgage or refinanced loans.
The company's Forensic Mortgage Audit performs predatory mortgage audits for homeowners and on behalf of attorneys, and has disclosed illegal violations occurred on approximately 80% of the loans it reviews.
A recent survey determined that as many as 80% of homeowners who purchased or refinanced their homes between 2002 and 2007, have had TILA regulations either broken or disregarded by lending institutions. The Federal Truth in Lending Act was originally enacted by Congress in 1968 as part of the Consumer Protection Act. The law is designed to protect consumers in credit transactions by requiring clear disclosure of key terms of the lending arrangements and all costs. This, according to Jason Wilhite, founder of "Sueyourlender.net", is the most abused law by lenders and one that has the most teeth.
“These laws are in place to protect, the homeowner, but some mortgage brokers and lenders act as if these laws don’t exist,” Wilhite said. “The more homeowners become educated the better chance they have to save their home.”
Wilhite says his company will review all loan documents, and investigate whether the information and calculations provided in those documents is accurate, truthful and meet the requirements of the applicable federal and state statutes.
Several courts have ruled in favor of the homeowners and the unfair practice has been featured on CNN Money as well as other news broadcasts.
“The inability of the lenders and brokers to properly conduct the practice of mortgage lending is becoming paramount,” Wilhite said. “Few people are able to fully understand and comprehend the documents that are provided with mortgage loan process. As we have seen, there are a lot of fraudulent documents and practices being unintentionally ignored by the homeowners.”
Further information can be obtained at www.sueyourlender.net or by calling at 1-866-966-6615.
###
Contact:
George Staresinic
Corporate Ignition
702.451-5700
gstaresinic@corporateignition.com
The website, www.Sueyourlender.net offers assistance to homeowners in determining whether banks and other financial institutions, mortgage lenders and / or brokers failed to comply with the TILA (Truth in Lending Act) when drawing up new mortgage or refinanced loans.
The company's Forensic Mortgage Audit performs predatory mortgage audits for homeowners and on behalf of attorneys, and has disclosed illegal violations occurred on approximately 80% of the loans it reviews.
A recent survey determined that as many as 80% of homeowners who purchased or refinanced their homes between 2002 and 2007, have had TILA regulations either broken or disregarded by lending institutions. The Federal Truth in Lending Act was originally enacted by Congress in 1968 as part of the Consumer Protection Act. The law is designed to protect consumers in credit transactions by requiring clear disclosure of key terms of the lending arrangements and all costs. This, according to Jason Wilhite, founder of "Sueyourlender.net", is the most abused law by lenders and one that has the most teeth.
“These laws are in place to protect, the homeowner, but some mortgage brokers and lenders act as if these laws don’t exist,” Wilhite said. “The more homeowners become educated the better chance they have to save their home.”
Wilhite says his company will review all loan documents, and investigate whether the information and calculations provided in those documents is accurate, truthful and meet the requirements of the applicable federal and state statutes.
Several courts have ruled in favor of the homeowners and the unfair practice has been featured on CNN Money as well as other news broadcasts.
“The inability of the lenders and brokers to properly conduct the practice of mortgage lending is becoming paramount,” Wilhite said. “Few people are able to fully understand and comprehend the documents that are provided with mortgage loan process. As we have seen, there are a lot of fraudulent documents and practices being unintentionally ignored by the homeowners.”
Further information can be obtained at www.sueyourlender.net or by calling at 1-866-966-6615.
###
Contact:
George Staresinic
Corporate Ignition
702.451-5700
gstaresinic@corporateignition.com
Contact
Sue Your Lender
George Staresinic
(702) 451-5700
sueyourlender.net
George Staresinic
(702) 451-5700
sueyourlender.net
Contact
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