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5 Common Law Violations Investors Make!
| | Friday, November 19, 2004 @ 08:26 PM EST
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Contributed by: John Michael
John Michael Properties
Read more archived articles about Law and Legal Issues
Can Lead To A Class Action Suit!
-And-
Can Make You Wish You Never Committed Them!
Common illegal conduct can and does lead to significant penalties against wrongdoers in cases prosecuted by private attorneys against investors.
1. Loan flipping and rip-off second mortgages. Frequent flipping of consumers into new loans often makes a bad deal even worse. Second mortgages may contain outrageous terms. Consumer attorneys are finding new ways to stop foreclosures, cancel loans and recover hefty damages and attorney fees for these and other examples of investors overreaching.
2. Investors jacking up the cash price for high-risk debtors. This and other types of hidden finance charges (such as junk fees, fictitious broker's fees, or bogus insurance) violate federal and state credit statutes, and can lead to $1,000's or more in statutory damages, actual damages, and attorney fees.
3. Investors pursuing contacts, lawsuits, or foreclosures despite the bankruptcy stay or discharge. Violations of the automatic stay or bankruptcy
discharge can lead to actual and punitive damages and attorney fees.
4. Investors withholding interest on security deposits or mis-disclosing early termination penalties, purchase options, taxes, or mis-disclosing lease option terms.
5. Faulty notice of or unreasonable conduct of a foreclosure sale.
These and similar attempts to limit consumer rights are unfair and deceptive, and can lead to consumer recoveries of multiple, statutory, or punitive damages and attorney fees under a state and or federal statute!
For investors the courts will not excuse your ignorance of the law.
Know your state and federal statutes.
A slippery deal can cost you a lifetime!
Note: John Michael is the author of many guides that can help you become more successful as an investor. See http://www.thecreativeinvestor.com/ChanPart-JohnMichael.html
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mis-disclosing investors loans flipping common federal deal fees. make! stay attorneys actual fees, fees lead second attorney terms. damages damages, punitive bankruptcy consumer other conduct against state violations
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