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• "I sent this letter certified after receiving the free guide [from] Phillips & Garcia P.C. Saved Foreclosure. Thanks a million!" A.D. from Colorado
• After seeing first hand what you are up against concerning the big banking companies, we are even more amazed that you are willing to fight the fight. The little guy needs your help and your fearless attitude. You are good people and true Americans. We are honored to be called your friends. R.R. - Mich., Lockout & Trashout Victim
• The attorneys were very professional and I felt as though they always had my best interest in mind. Without them I would have been pushed around and just another number to the bank. N.L., Wrongful Lockout Victim
• Thank you Mr. Phillips. If we hadn't found you the [Bank] would have foreclosed on our property and I can't imagine the misery that they would have caused. S.N. - Arizona

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What is the Truth in Lending Act (TILA)?

A:

The Truth in Lending Act (TILA) is a 1968 U.S. law that is meant to protect consumers against predatory lending practices. TILA requires that credit lenders and financial institutions clearly disclose the key terms of their lending agreement, including the costs.

TILA does not regulate the costs of credit, it simply requires an open disclosure so that consumers are not tricked by predatory lending practices. TlLA also gives consumers the right to nullify certain credit agreements that might result in a lien on their home.

TILA applies to:

• Credit that is offered or provided to consumers
• Credit that incurs finance charges, or that is payable, under written agreement, in more than 4 payments
• Credit that is only used for personal, family, or household purposes
• Credit that is offered or provided more than 25 times in a year, or more than 5 times for credit that is secured by a dwelling
• Business credit cards, as well as credit cards with no finance charge, or those with payments that are not payable in 4 installments
  
  

What are the provisions of TILA?

TILA provides a comprehensive set of regulations regarding credit disclosures. It states that lenders must disclose the terms of an agreement in writing and make clear in an obvious manner: 

• The identity of the creditor
• Amount financed
• Annual percentage rate, including variable rates
• Payment schedule
  
  

Contacting a Massachusetts Foreclosure Attorney 

If you are considering filing for a predatory lending case that has resulted in your wrongful foreclosure, but aren't sure how to proceed, contact a Massachusetts foreclosure attorney at Phillips & Garcia to schedule your legal consultation today - 1-877-892-5620.

Legal Help for Wrongful Foreclosure and Seizure in Any State.  Phillips & Garcia, P.C., a leading law firm in wrongful foreclosure and seizure cases, is now taking cases in any state where there has been a wrongful foreclosure, lock-out and trash-out of a borrower's home.  We are licensed in Massachusetts and associate with a qualified attorney in your state. 

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