(LegalLaw247.com, January 21, 2012 ) New York, NY The ARM class action lawyers working with Class Action.org are available to review claims from consumers who entered into adjustable rate mortgages (ARMs). It has been alleged that certain mortgage companies have been abusing the interest rates they charge in association with these home loans. In light of these claims, Class Action.org is offering a free online case evaluation to any consumer who obtained an adjustable rate mortgage. If their interest rate exceeded what was outlined in their mortgage documents, they may be able to file a claim seeking compensation for abuse of their interest rate. To receive your free case review, visit http://www.classaction.org/adjustable-rate-mortgage-interest-rates.html today.
Adjustable rate mortgages are a type of loan with an interest rate that is tied to an economic index. Therefore, as the index changes, the interest rate and the borrowers payments will fluctuate. Most ARM borrowers are told that their initial interest rate will be the sum of a specified index (such as the LIBOR rate) and a set margin, which can be described as the lenders markup. Documents, disclosures and other materials provided with the loan will typically state or imply that the rate applicable to the loan will not exceed the sum of the index and margin. However, it has been alleged that certain banks have been making these statements, but still charging borrowers interest rates which exceed this sum.
Consumers who have entered into adjustable rate mortgages and charged interest rates which exceed the rate disclosed in their mortgage documents may have legal recourse. Potentially, these individuals may be eligible to participate in an ARM class action lawsuit to seek compensation for economic losses associated with the higher interest rate. To learn more about ARM class action lawsuits and to receive your free case evaluation, visit Class Action.org today. The ARM class action attorneys working with this site are providing this online case review at no cost and with no obligation.
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
Tara Nagel
800-449-1970
pressrelease@lawyercentral.com
Source: EmailWire.Com
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