Commercial and Residential Predatory Lending

Pittsfield, Massachusetts Borrower Protection Attorney

Banks and mortgage brokers are required by law to adhere to certain underwriting and marketing principles when financing a loan for commercial or residential real estate. Borrowers must qualify for a loan according to what they can reasonably afford, given the cost of the property they are purchasing. When banks finance loans according to amounts and terms borrowers cannot manage, they may be financially liable for their negligence. While federal regulations exist to protect consumers from predatory lending practices, many of these protections have not been enforced or have been removed. However, victims of predatory lending practices can recover damages or save their real estate investment through legal action in the civil courts.

The law office of Richard I. Isacoff represents commercial and residential borrowers who have been misled or manipulated by unscrupulous mortgage brokers and lenders through dishonest, fraudulent underwriting practices, or bait and switch sales tactics. Negotiate a modification of your loan from a position of strength - contact predatory lending lawyer Richard I. Isacoff today to discuss your case.

Taking Advantage of Borrowers - Predatory Lending Practices

The law office of Richard I. Isacoff represents clients in regard to the following predatory lending practices:

• Hidden clauses that create unreasonable fees
• Different terms in the contract from what was originally promised
• Teaser rates
• Adjustable rate mortgage
• Accrual accounts
• Refinancing home at an unreasonable interest rate

Uncovering and Exposing Predatory Lending Practices

Unconventional or non-standard mortgage and refinancing products typically leave a paper trail due to the kinds of accounting tools that must be employed in underwriting them. With over 20 years of experience in bankruptcy and the banking industry, Richard I. Isacoff has an extensive knowledge of the regulations and accounting practices governing banks and mortgage brokers.

As your attorney, Mr. Isacoff reviews how a loan was underwritten, what supporting documents were provided and consulted, and will subpoena, if necessary, internal reports in order to determine if income information was purposely distorted or reported. Our office also reviews the behavior of a lender in order to identify a pattern of unscrupulous, predatory lending practices regarding loans to others.

Be Informed - Know Your Rights and Assert Them

Financial institutions often bury unreasonable terms and conditions in complex, confusing contracts. When borrowers can no longer afford a mortgage, banks revert to a legalistic mentality that may ignore the real life problems of the borrower. At the law office of Richard I. Isacoff, we expose underwriting irregularities and other issues that constitute predatory lending. As your attorney, Mr. Isacoff seeks financial damages as well as a rescinding of unfair mortgage terms and conditions.

To schedule an appointment to discuss your case and how we can help you, contact predatory lending lawyer Richard I. Isacoff today.