About Truth in Lending Act Violations
Florida Foreclosure Defense Attorney
The Truth in Lending Act requires creditors and lenders to disclose all pertinent terms, lending arrangements, and costs and fees to consumers who apply for consumer credit or a loan. The primary purpose of the act is to ensure that borrowers are fully aware of their lender's terms.
The Truth in Lending Act (TILA) is frequently violated by lenders and creditors. TILA violations usually involve a lender failing to disclose relevant information and terms regarding a loan to a consumer.
Foreclosure Defense Attorney in Florida
Truth in Lending Act Violations can cause financial instability for consumers and may lead to them losing their homes. For example, if a lender does not disclose certain fees or an interest rate hike to a consumer and the consumer fails to make sufficient payment due to this lack of information and understanding of the terms of the loan, the result can be a foreclosure action filed by the lender.
Contact a Florida Foreclosure Defense Lawyer
immediately if a TILA violation has occurred.