(LegalLaw247.com, December 17, 2011 ) New York, NY Class Action.org is informing consumers of a pending class action ARM lawsuit on behalf of California borrowers who obtained adjustable rate mortgages (ARMs) from JPMorgan Chase Bank, N.A. or Chase Home Finance, LLC. The Chase ARM class action alleges that the mortgage banks improperly set the rate charged to their borrowers. Residents outside of California are not covered by the pending Chase class action lawsuit, but still may have legal recourse if they were charged interest rates which exceeded the rate outlined by their mortgage documents. If you entered into an ARM with either JP Morgan Chase Bank or Chase Home Finance before April 2006, you may be able to seek financial compensation in light of this recent class action suit. To find out if you are eligible, visit http://www.classaction.org/chase-adjustable-rate-mortgage-lawsuit--1-55245.html for a free case review.
The claims posed by the pending Chase ARM class action stem from disclosure forms and mortgage notes provided to consumers entering into adjustable rate mortgages. Allegedly, the documents informed borrowers that the initial interest rate would be the sum of a specific Index plus a set Margin, or potentially, a rate less than this. Still, the bank charged borrowers an initial interest rate which was higher than this sum, according to the allegations.
Borrowers who entered into an adjustable rate mortgage with either of these mortgage banks may have legal recourse to seek financial compensation. Potentially, a Chase ARM class action lawsuit would allow these individuals the chance to collectively file a claim seeking compensation for alleged abuse of the interest rate charged on their loans. To learn more about the Chase ARM class action lawsuit, visit Class Action.org today for a free evaluation of your claim.
About Class Action.org
Class Action.org is dedicated to protecting consumers and investors in class actions and complex litigation throughout the United States. Class Action.org keeps consumers informed about product alerts, recalls, and emerging litigation and helps them take action against the manufacturers of defective products, drugs, and medical devices. Information about consumer fraud issues and environmental hazards is also available on the site. Visit http://www.classaction.org today for a no cost, no obligation case evaluation and information about your consumer rights.
ClassAction.org
Hannah Armstrong
800-449-1970
pressrelease@lawyercentral.com
Source: EmailWire.Com
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