Predatory Lending in Missouri
Do you think you are a victim of predatory lending or loan fraud, particularly in the home-buying arena? Perhaps a mortgage broker, appraiser, bank, contractor or other real estate professional intentionally steered you toward a bad loan situation in order to make a profit. Now, you face the consequences. Call upon the experienced and established attorneys at The Hershewe Law Firm, P.C. for legal advice if you think you have been misinformed or duped into a difficult financial corner. They’ll evaluate your circumstances and educate you about workable alternatives. Don’t be ashamed or embarrassed about your economic status. Predatory lending is against the law and could bring you financial hardships such as:
- Foreclosure
- Bankruptcy
- Damaged credit
Everyone agrees that buying or refinancing a home are big steps in life. Consumers must be skilled in smart decision-making, and whether we like it or not, that means being aware of predatory lending practices. The current financial climate includes economic crises and high foreclosure rates, so being a wise consumer is important, now more than ever. Be sure and check with a mortgage attorney if the person you are dealing with:
- Encourages you to falsify your income and other financial information
- Lends you more money than you can afford to repay
- Misrepresents appraisals
- Discriminates
- Pushes unreasonable cash-out refinance offers
- Offers higher-risk loans such as balloon loans, interest-only payments and steep pre-payment penalties
- Supports multiple refinancing
These are just a few clues that expose possible predatory lenders. Be aware of what they have to offer —and what you have to lose. Do you have questions about mortgage renegotiation, bad faith mortgages, foreclosure relief, or refinancing? If you need a predatory lending lawyer in Missouri, contact the mortgage litigators at The Hershewe Law Firm, P.C., for a free consultation.
