Anyone who is a homeowner may be a victim of a predatory lender. Since October 1, 2002, if you or anyone you know, have refinanced or bought a home, and your credit rating is bad or questionable, you may have a case against your lender.
Or, if your current loan is being foreclosed, and the loan was given after October 1, 2002, you may be a victim of a predatory lender and you should immediately contact my office.
In October, 2002, the Georgia State Legislature found it necessary to protect the public from predatory lenders. Accordingly, they passed the Georgia Fair Lending Act, located at O.C.G.A. section 7-6A-1.
Under the code, a rigid set of rules were outlined for any lenders or mortgage brokers wishing to make a "High Cost Loan" or "covered loan." Lenders must follow the guidelines or suffer serious consequences. If you have a new home loan or a refinanced home loan that is determined to be a high cost loan, you may have a claim against your lender.
The best way to determine if you have a high cost loan or a covered loan under the law is to seek the counsel of an attorney. Please contact my office to discuss your existing loan. I offer a free phone consultation. You must have your loan documents at your disposal before you call. I look forward to hearing from you.
