Mortgage Fraud/Unfair Lending Practices

Unfair lending practices are a major concern in the United States.  Consumers like you lose billions of dollars annually to the unfair and deceptive practices of big business.  These unfair practices come in many forms.  Sometimes these companies use high-pressure sales tactics or don’t tell the whole story.  Often times, their paper work is deceptive, confusing, and in violation of state and federal law.  As a result of these practices, many states have enacted laws to combat these practices.  The Buxner Law Firm has and continues to actively litigate cases on behalf of consumers who have been victimized by unfair practices.  Many of these cases involve:

• High fees or closing costs that are rolled into the principal, requiring consumers to pay high interest payments over the life of a loan.
• Loans that do not fairly tell customers what you will pay.
• Misrepresentations as to interest rates and payments.
• Loans that appear great at the time of closing and then the payments increase over time.

Since its inception, The Buxner Law Firm has been painstakingly prosecuting predatory lending cases.  Evan Buxner has been appointed as class counsel in class action in state and federal courts and has recovered for class members tens of millions of dollars.  If you believe you have been a victim of predatory lending please call as at 1-888-725-0503.

Some of the cases The Buxner Law Firm has prosecuted include:

Dundon v. U.S. Bank, et al. (S.D.Ill. No. 01-CV-408-GPM).
In this case, plaintiffs alleged that certain Illinois second mortgage loans that were secured by real property located in Illinois were assigned to, among others, U.S. Bank. These loans allegedly contained interest rates and fees that violated Illinois lending law. After conducting discovery throughout the country, the Illinois class was certified, over defendants’ objection and defendants’ petition for review from the 7th Circuit was denied. Thereafter, the parties agreed to a settlement in the amount of approximately $30,000,000.00 which has received preliminary approval from the United States District Court for the Southern District of Illinois. Significantly, Mr. Buxner was appointed co-lead in this case as part of the certification and later for settlement purposes.

Cates, et al. v. U. S. Bank National Association, N.D. (D.C. Hennepin Cty., Minn, 4th Judicial District).
Evan Buxner was one of several lead counsel in this litigation challenging the legality of certain settlement fees imposed in connection with residential second mortgage loans. The litigation involved multiple class actions filed on behalf of borrowers in numerous state and federal courts throughout the country. The case ultimately settled for approximately $30,000,000.00.

Barry, et al. v. Empire Funding
This case involved borrowers who obtained mortgage loans from Empire Funding Corporation wherein the Plaintiffs alleged that the Defendants purchased loans on the secondary market that included excessive fees or interest or otherwise violated lending or consumer protection laws.  The settlement was estimated at 5.7 million dollars.

Alford v. Mego Mortgage Home Loan Trust
This case involved borrowers who obtained mortgage loans from Empire Funding Corporation wherein the Plaintiffs alleged that the Defendants purchased loans on the secondary market that included excessive fees or interest or otherwise violated lending or consumer protection laws.  The settlement was estimated at 1.7 million dollars.

Banks v. First Plus Trust Asset
This case involved borrowers who obtained mortgage loans from Empire Funding Corporation wherein the Plaintiffs alleged that the Defendants purchased loans on the secondary market that included excessive fees or interest or otherwise violated lending or consumer protection laws.  The settlement was estimated at 19 million dollars.

Call the offices of Evan D. Buxner today at 1-888-725-0503 or, email us for a free initial consultation to discuss your case and your rights under the law.