“I will highly recommend Mr. Boris Davidovskiy. He had provided excellent service in Real estate and banking issues. Always easy to reach; quick response to all my emails and calls; his professional skill
Washington Debt Attorney
Boris Davidovskiy, P.C. is a Lynnwood, Washington lender liability and banking attorney that will sue and fight back against banks. Banks are powerful institutions. However, they are regulated by state and federal law. When a bank abuses its power and position, Lynnwood WA lender liability firm Boris Davidovskiy, P.C. is prepared to hold the bank accountable. The Firm pursues lender liability and predatory lending claims against banks when they take advantage of borrowers, customers, and consumers.
What is Lender Liability?
Lender liability results from a lender’s conduct. Liability may arise from either (a) a breach of a common law (judicially created) obligation; or (b) a violation, whether intentional or inadvertent, of a federal or state statutory obligation.
Courts have found liability where a lender exercises excessive control over a borrower or a customer’s affairs; engages in inequitable or fraudulent conduct regarding the borrower or the borrower’s creditors; or violates a duty of good faith or fair dealing to the borrower. In such cases, the lender may be liable to the borrower or third parties for damages or penalties, may find its claims equitably subordinated to claims of others, or may have its claims avoided entirely.
What is Predatory Lending?
Predatory lending is understood to mean any lending practice imposing unfair or abusive loan terms on a borrower. Predatory lending can involve practices stripping equity away from a homeowner or condemning a borrower into perpetual indenture. Predatory or abusive lending practices can also include making a loan to a borrower without regard to the borrower’s ability to repay; repeatedly refinancing a loan within a short while and charging high points and fees with each refinance; charging excessive rates and fees to a borrower who qualifies for lower rates or fees offered by the lender; or imposing new unjustifiably harsh terms for rolling over existing debt. In addition, predatory lending can include any practice convincing a borrower to accept unfair terms for a loan through deceptive, coercive, exploitative, or dishonest actions.
Furthermore, if flaws exist in loan documents, disclosures, or underwriting, or if a lender or a mortgage servicer have engaged in deceptive or fraudulent practices, the borrower may challenge the original contract or the lender or the mortgage servicer’s performance. Indeed, lenders can make mistakes and be unresponsive to a borrower’s needs.
Contact a Lynwood WA Lender Liability Lawyer
To learn more about your legal options and/or for a consultation with a Lynnwood, Washington lender liability attorney, contact our office for a free consultation.