Is There Money In Suing A Los Angeles Hard Money Lender?
There is good news on this front. There is in fact some money out there for those who sue a hard money lender and win. You might find it a little difficult to have a winning case to pitch to an attorney, but if you are able to carry the lawsuit all the way to completion, then you are in fact in good shape to win some money for what has happened to you.
The law holds that one may win up to double the amount of finance charges and fees that were fraudulently charged to them as a result of a loan that was in violation of the law. The reason why the potential windfall is so large is because the government has an interest in deterring bad lenders from getting into predatory lending that takes advantage of customers and causes them to be unable to live their financial life in a way that works for them. The government does not want to see people get financially ruined by lenders, and that means they have written the laws in such a way that hopefully fraudulent practices by lenders are punished in a big way.
How Can You Know If Something Is Fraud?
The short and sweet answer is that you as an individual probably will not know for sure if something is fraud in terms of the lending practices that these lenders are supposed to uphold. You may have some idea in your mind as to if you have been cheated out of your money or not, but you are just going on a feeling, and your feeling is being influenced by the fact that you are the one who has been personally taken advantage of. It is easy to see how you could see fraud when there really hasn’t been any.
The best thing to do is to ask an unbiased attorney to step in and give you their opinion on your circumstances. An attorney can certainly help you with this as he or she can answer if they would be willing to take your case or not. If they see a low probability of victory, or if they somehow believe that there is just no case to be made, then they will not take on your complaint. If they do see real fraud though, then they will be more than happy to help you out with your circumstances.
Make sure you understand all of the rights that you have to pursue justice in the courts. You never want to be taken advantage of by a hard money lender. Worse than that though would be to get taken advantage of and then do nothing about it. Some may be tempted to allow this kind of thing to happen to them. Do not allow yourself to be one of those people. You have the power to go and obtain an attorney and get the kind of recourse that you deserve in circumstances such as these.