SEATTLE MORTGAGE JUNK FEES CONSUMER PROTECTION ATTORNEY
Mortgage junk fees often surprise and frustrate home buyers. These fees include unnecessary charges in mortgage loans, like fees for making a mortgage payment on the telephone, getting a payoff, property inspections, and more. Companies can also send deceptive notices to homeowners. They can also violate loss mitigation rules that help struggling borrowers stay in their homes. Junk fees increase loan costs without any actual benefits for borrowers.
Seattle Consumer Justice can challenge the junk fees mortgage lenders charge. We help prevent lenders from pocketing fees they cannot charge and stop mortgage servicers from charging these fees. With us by your side, you may be able to avoid extra charges when a mortgage servicer processes your payments and manages your mortgage account. Our team is here to help safeguard your financial interests and make well-informed choices when dealing with mortgages.
For help fighting junk fees, set up a consultation
with our team by calling (206) 483-0505.
Understanding Junk Fees
Junk fees in mortgages refer to illegal, prohibited, and unauthorized charges that lenders add for services they are already required to perform.
Such charges may include:
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payoff fees
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prohibited fees for property inspections
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late fees that exceeded amounts allowed by their mortgage loan agreements
Additionally, bad-faith mortgage servicers can accept or require money from borrowers to pay taxes and insurance. They may attempt to illegally charge homeowners penalties for property tax and home insurance payments they fail to pay on time. They can also notably increase the cost of loans without any real benefit to the borrower.
Junk fees are fees that are not included in your mortgage and are prohibited by state or federal regulations. However, mortgage lenders may fail to disclose the fact that these fees are not allowed. They do this to deceive homeowners and avoid accountability for assigning illegal or unwarranted fees.
Junk fees increase monthly payments and alter the overall affordability of homeownership. These unnecessary costs create a barrier for those who want to own a home.
Legal Rights of Consumers
Federal Law and Washington state laws protect consumers from unfair mortgage practices, including junk fees. The Truth in Lending Act (TILA) mandates that lenders disclose the total cost and terms of a loan. This mandate helps borrowers understand any additional charges or fees and limits the types of fees and charges allowed during mortgage servicing. Transparency allows borrowers to compare different loan offers and make informed decisions.
Under Regulation Z, the implementing regulations for TILA, lenders cannot charge inflated fees for third-party services or fees to transmit payoff statements for most mortgages. Additionally, in Washington state, consumer protection laws guard against deceptive practices. These laws empower borrowers to question and potentially dispute any fees that seem unreasonable or unclear in their lending documents.
Our Services
We start by identifying junk fees by carefully reviewing all of your documents. Our team can scrutinize contractual agreements and statements, seeking unusual charges. Then, we compare these charges to regulations and applicable laws. If a fee is unjustified or inflated, we are prepared to take action on a class-wide basis and sue on your behalf.
We can gather all documentation related to the loan and keep records of all communications with the lender. If the explanation does not satisfy us, we can assist you in submitting a formal complaint to the mortgage servicer or the Consumer Financial Protection Bureau (CFPB).
Our support extends beyond document review. We work to remove unnecessary fees, lowering your overall expenditure for you and other consumers in similar situations. Armed with insights from your document analysis, we can have informed discussions, leveraging legal experience to create a tailored plan to help you effectively address junk fees.
If you suspect your mortgage deal has junk fees, contact our team online today. Our Seattle attorney is here to help.
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With years of experience between our attorneys, our goal is to deliver a higher level of service, only taking cases where we can add value.
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We understand that no two cases are ever the same. We provide tailored solutions for every client and strategize in order to provide optimal results.
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As a law firm that focuses on creative and collaborative solutions, we always seek opportunities that go even beyond the law to help provide the results you deserve.
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GUIDING YOU TOWARDS A BRIGHTER TOMORROW
Experienced, Creative & Sophisticated
With years of experience between our attorneys, our goal is to deliver a higher level of service, only taking cases where we can add value.
Personalized Attention
We understand that no two cases are ever the same. We provide tailored solutions for every client and strategize in order to provide optimal results.
Comprehensive Service
As a law firm that focuses on creative and collaborative solutions, we always seek opportunities that go even beyond the law to help provide the results you deserve.
Comprehensive Service
As a law firm that focuses on creative and collaborative solutions, we always seek opportunities that go even beyond the law to help provide the results you deserve.
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