(LegalLaw247.com, January 14, 2012 ) New York, NY The adjustable rate mortgage lawsuit attorneys working with Class Action.org would like to hear from consumers with adjustable rate mortgages (ARMs) to determine if they have legal recourse. Allegedly, certain financial institutions have been abusing the interest rates charged in connection with these home loans. If a borrower was charged an interest rate exceeding the applicable rate outlined by their mortgage documents, they may be able to make a claim seeking compensation for economic losses stemming from this higher rate. To find out if you are eligible for an adjustable rate mortgage lawsuit for your interest rate, visit http://www.classaction.org/adjustable-rate-mortgage-interest-rates.html for a no cost evaluation of your claim.
One financial industry giant already faces a pending ARM class action on behalf of consumers in California who entered into adjustable rate mortgages with Chase Home Finance, LLC or JPMorgan Chase Bank, N.A. In Oct. 2011, a federal judge in California granted class certification in this case which alleges malfeasance by the mortgage banks in setting the rate charged to borrowers. Non-California residents are not covered by the pending JP Morgan Chase mortgage lawsuit, but may still have legal recourse if this or any other bank charged them interest rates which exceeded the applicable rate outlined in their mortgage documents and/or disclosures.
When a borrower enters into an adjustable rate mortgage, they are often told that the rate applicable to their loan will not exceed the index plus a set margin. However, it has been alleged that certain banks have been charging borrowers interest rates which exceed this sum. If you have entered into an ARM, visit Class Action.org to learn more about adjustable rate mortgage lawsuits and to receive a free case review. The adjustable rate mortgage lawsuit attorneys working with the site are providing this online consultation 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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