We’ve seen that predatory lending is a problem that can have catastrophic worldwide consequences. At MarkoffLeinberger, our Chicago consumer fraud lawyers have the ability to fight for you if you’ve been victimized by an unethical entity’s predatory lending practices.
The United States is still recovering from an economic meltdown largely triggered by the proliferation of shady mortgages. While homeowners bear some responsibility for taking on these bad mortgages, the fact remains that many banks used questionable, unethical tactics in pushing shoddy deals on borrowers.
Examples of predatory lending include:
- “Balloon payments” whose details are not disclosed or are actively hidden from borrowers
- “Packing,” a practice in which the borrower is forced to pay for a number of unimportant or unrelated services
- Outright lying about the details of the loans
- Repeated re-financings within a short period of time
- Excessive interest rates
- False advertising in the description of these loans
If you’ve been victimized by one of these practices, don’t hesitate to speak to one of MarkoffLeinberger’s Chicago consumer fraud lawyers. We have years of experience pursuing justice for people like you. We often find that many people have been victimized by the same scam, and we can craft a class action suit in which you can take part.
If you need a Chicago, Illinois consumer fraud lawyer to help with your predatory lending case, please contact MarkoffLeinberger today for a free consultation.