As foreclosures rose in 2008, the total number of consumer bankruptcies also increased to 1.06 million, according to the American Bankruptcy Institute.
If you are aware that foreclosure fraud is out there, you can avoid becoming a victim of it yourself. Scammers actually look through public records, the Internet, newspapers and various other means to find people whose homes are being foreclosed. Do not be like so many people before you and pay the fee before the work is actually done.
TILA, the Truth in Lending Act, or Title I of the Consumer Protection Act of 1968 is a federal law which was designed to protect consumers in credit transactions. Among the things that the lender must disclose to the consumer are: The loan terms, total costs and annual percentage rates in order for the consumer to be able to make a knowledgeable decision whether to accept the loan.
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