Predatory Lending

Have you or anyone you know been a victim of predatory lending or mortgage fraud? If so, a Northern Kentucky predatory lending attorney at our firm may able to assist you. We will sit down with you and review all documents and paperwork related to your mortgage to determine what your options are and how to proceed with your case. We offer a free initial consultation with a lawyer, who will work directly with you. We serve the cities of Covington, Florence, Newport, Independence and surrounding areas.

Purchasing a home or refinancing one may be one of the most important financial decisions made. Today’s loan documents are dense, complicated, and sometimes impossible to understand, leaving many homebuyers overwhelmed and confused. This makes for a perfect scenario for unscrupulous mortgage brokers, lenders, appraisers, and other real estate professionals to take advantage of borrowers.

On June 24, 2003, the Kentucky Predatory Lending Law was enacted to protect borrowers from such predators. In predatory lending, the fact that the homeowner does not benefit from the transaction is what turns a legal mortgage into a predatory lending practice, which should be reported.

Predatory lending practices include such things as excessive fees, often hidden in the loan amount so that they are disguised from the borrower, excessively high interest rates, late charges and prepayment penalties. Predators often add unnecessary insurance or other products to the loan amount, doing so by coercion or intimidation. Other predatory practices are misrepresentation of loan terms, deceptive loan serving, and persuading borrowers to refinance when they gain nothing from the transaction, which is called loan flipping.

A Northern Kentucky predatory lending attorney at our firm understands all the variations of mortgage fraud and predatory lending and will work with you to rectify your loan situation.

Learn more about your predatory lending defense options by contacting us for a free in‑person or online consultation today.

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Wolff Law Firm, PLLC • 859-757-6448 • Fax 859-757-1248 • 28 West Fifth Street, Covington, KY 41011 • Free Parking