Class Action Lawsuits Can Change Lender Fraud

There are many consumers that have faced serious financial difficulties due to lender fraud. Lender fraud has been a factor in making and braking he mortgage bubble, which has made news. If you have been a victim of lender fraud, you are not alone.

Fighting Lender Fraud

Fighting lender fraud is something that can be a class action lawsuit and is an effective way to fight this dishonest practice that harms the individual. Lender fraud does not affect just one person and when the individual is a part of a group it gives them a voice to hold the lender responsible with the class action lawsuit.

Some of the lender fraud that can occur can include:

Interest and hidden fees that can be in a credit card statement or charges that are added onto a mortgage statement that are classified as new fees or changes in interest rates. This is considered lender fraud when the rules of the credit card or mortgage change after an agreement has been made between the lending company and the borrower.

Predatory lending is another tactic that is used by lending companies that is often seen in the mortgage market. This is when a person is convinced to sign mortgage documents, which the lender knows the borrower did not have sufficient finances to repay the loan. This puts the borrower in a difficult situation and one where they could lose the roof over their head. Predatory lending is illegal and the lender should be held accountable.

It is nearly impossible for the individual that has been a victim of lender fraud to stand up to the financial institution. This situation changes when they join with other people that have suffered a similar situation and file a class action lawsuit.

If you have been the victim of lender fraud contact Ehline law firm to discuss your claim and join a class action lawsuit.