Predatory Lending

Illinois Predatory Lending Attorneys

At an alarming rate, the subprime mortgage crisis has victimized homeowners across the country. An unprecedented number of homeowners have been defrauded by mortgage lenders and brokers, placed in mortgage loans they cannot afford, or have paid excessive closing costs.

At Farrell, Hamilton & Julian, P.C., we vigorously represent consumers against predatory lending. Since 2000, our law firm in Godfrey, Illinois, has fought to protect homeowners from deceptive lenders and brokers throughout the St. Louis Metro East area.

Are You a Victim of Predatory Lending?

As real estate attorneys, we understand firsthand the effects of the mortgage crisis. Lenders, brokers, appraisers and other real estate professionals used deceptive lending practices to get people approved for loans they could not afford.

Mortgage lenders and brokers victimized homeowners with several fraud schemes, such as:

• Inaccurate information - Lenders used false or inaccurate information to get consumers set up with a loan they would not have qualified for if the information submitted was correct.
• Unconventional loans - Consumers were pushed into unconventional loans without a fixed mortgage rate. Once the interest rate changed, home owners were forced into foreclosure since they could not afford the payments.
• Inflated home appraisals - Real estate professionals worked with brokers to sell houses based on an inflated appraisal.
• Refinanced homes - Lenders frequently encouraged homeowners to refinance their home and rolled in new fees. Eventually, homeowners could not afford their mortgage.
• Defending improper claims - We also defend those clients improperly accused of predatory lending. Our representation of plaintiffs has made us adept in properly defending claims. We have been retained by financial institutions that we have sued to defend them in other cases. We represent plantiffs and defendants.

Experienced Trial Attorneys

If you think you have been victimized by mortgage fraud, do not wait until you receive a foreclosure notice to get help.

At Farrell, Hamilton & Julian, P.C., we are experienced trial attorneys who will vigorously protect victims of predatory lending. We will fight hard to restructure your loan. In other circumstances, we will negotiate to give the house back to the bank and take the financial burden off of you.

Since 1965, we have practiced in Godfrey, Illinois, and we have a thorough understanding of the ways consumer protection laws such as the Truth In Lending Act; Fair Credit Reporting Act; Real Estate Settlement Procedures Act; Equal Credit Opportunity Act; and, Consumer Fraud Act, are interpreted by the courts.

Many of our lawyers are certified public accountants. Their tax background helps them review loan documents and truth-in-lending disclosures. We will also analyze tax implications.

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