The Truth in Lending Act (TILA)

When a prospective homeowner enters into a mortgage, there are many laws that dictate how the mortgage may be set up and run by the lender. Banks and other lenders sometimes look the other way on these important regulations and do not follow the law as they should.

If you are facing foreclosure and suspect that your lender has engaged in fraudulent practices or otherwise broken the law, the Maryland foreclosure defense attorneys of Chaifetz & Coyle, P.C., are prepared to assist you with your case.

TILA Basics

One of the major laws regulating lenders’ actions is the Truth in Lending Act. TILA was passed in 1968 as a federal law that requires lenders to clearly communicate the terms of a loan so that consumers are protected from fraudulent lending or other financial traps. In order for a loan to follow the regulations of TILA, a consumer must be fully aware of what he or she is agreeing to. When lenders fail to fully disclose the terms of a loan, they may be found to be in violation of TILA or other laws and regulations.

How We Can Help

At Chaifetz & Coyle, we understand how confusing mortgages and lending agreements can be. If you are facing foreclosure because of predatory lending practices, our Maryland foreclosure lawyers are committed to pursuing your case. We will fully investigate the terms of your mortgage and the lending practices involved to determine if your lender violated any laws. We are prepared to fight on your behalf to reach the best possible conclusion in your foreclosure defense case.

Contact Us

For sound legal advice and assistance with your foreclosure proceeding, don’t hesitate to contact the Maryland foreclosure defense lawyers of Chaifetz & Coyle, P.C., today by calling 443-546-4608.