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What Are Truth In Lending Act Violations?

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What Are Truth In Lending Act Violations?

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Here are examples of lending practices that are illegal under the Truth in Lending Act (also known as TILA): • Failure to disclose annual percentage rate and payment amounts • Failure to disclose prepayment penalties, due dates and late charges • Failure to disclose service or loan application fees • Failure to write in an expiration date of your notice of right of rescission (right to cancel) on the loan document This is only a partial list of Truth in Lending Act violations. For a free evaluation of your mortgage documents, contact lawyer Timothy Scott Owens at our Tampa office.

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