Posts Tagged ‘TILA’

The StarTribune did a good piece on two vunerable adults who were preyed upon by unscrupulous mortgage brokers and lenders. While this article is about two people who were legally classified as vunerable adults, the reality is that when it comes to understanding personal finance, especially the more complex issues involved in subprime loans, many [...]

In a class-action lawsuit against Homecomings Financial, consumers alleged that Homecomings would charge borrowers for unnecessary homeowner’s insurance, fail to process payments on time, forcing borrowers to pay “Speedpay” fees of up to $12.50. One plaintiff says Homecomings charged him with six property-inspection fees in a 10-day period, apparently because Homecomings wanted to make sure [...]

Among all the tools one should consider when facing foreclosure is the right of rescission. Rescission is the right to cancel the contract and unwind everything back to start. While a homeowner may have the right to rescind for a variety of reasons, I want to focus on one, the right of rescission under the [...]

I haven’t had a chance to read through the changes the Federal Reserve Board is recommending for Reg Z. (The regulations for the Truth In Lending Act and Home Owner Equity Protection Act) but from the press release there are some good things. Lowering the HOEPA threshold for instance. But the real issue is not [...]

I will be in Washington, D.C., for the National Consumer Law Center 2007 Conference from tomorrow afternoon through the weekend. If my posting frequency falls off, that’s why. But I will try to keep the posts coming, especially about topics that come up at the conference.