(LegalLaw247.com, December 21, 2011 ) New York, NY The ARM class action lawyers working with Class Action.org are available to review claims from borrowers who took out an adjustable rate mortgage (ARM). It has been alleged that certain banks have been abusing the interest rates they charge in connection with these home loans. If you have entered into an adjustable rate mortgage, you may be able to seek financial compensation if your interest rate exceeded what should have been charged. To find out if you are eligible, visit http://www.classaction.org/adjustable-rate-mortgage-interest-rates.html for a free evaluation of your claim.
An adjustable rate mortgage is a type of loan with an interest rate that is adjusted as the economic index changes. Typically, when a consumer takes out an adjustable rate mortgage, they are told that their initial interest rate will be a sum of the index and a margin. The index is a guide which measures interest rate changes, while the margin is usually a set amount which represents the lenders markup. In general, documents provided with adjustable rate mortgages state or indicate that the rates applied to the loan will not be higher than the Index plus the Margin. Still, it has been alleged that consumers have been charged initial and subsequent interest rates which exceed this amount.
Borrowers who have been subjected to questionable interest rate adjustments may have legal recourse. Potentially, these individuals may be able to participate in adjustable rate mortgage lawsuit to seek financial compensation for the alleged abuse of their interest rates. To learn more about ARM lawsuits and to find out if you qualify, visit Class Action.org today. The ARM class action 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
Hannah Armstrong
800-449-1970
pressrelease@lawyercentral.com
Source: EmailWire.Com
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