Lawyer David Zak has a well-established record for successfully negotiating loan modifications on behalf of his clients under the federal HAMP program promulgated by the US Treasury as part of the Economic Stabilization Act of 2008 passed by the US congress. The obtaining of a modification often requires borrowers to assert claims under federal laws such as HOEPA, FACTA, RESPA and TILA.
One of the major pieces of legislation that helps grant rights to borrowers of credit in the United States is the Truth in Lending Act. The Truth in Lending Act was passed in 1968 and aimed to help regulate certain predatory lending practices that were considered out of control at the time. The bill requires creditors to inform customers about the APR (annual percentage rate) and other charges associated with a loan. The reason this was implemented is to help promote information liquidity in the marketplace, helping consumers to shop around for credit more easily. The law also requires mortgage companies to offer specific literature from the Federal Reserve Board to ensure that customers are made aware of their rights.
If you believe your rights granted in the Truth in Lending Act have been violated, you may wish to consider getting legal assistance. Lawyer David Zak has substantial experience in renegotiating mortgage terms under this federal law and others in multiple states on behalf of debtors and mortgagors.