Does FL fair lending apply to home equity loans?

Asked almost 2 years ago - Fort Lauderdale, FL

If I understand correct a bank can't refi a home loan under 18 months unless benificial to lender, raise the interest if it goes into default or put a balloon payment if matures in less than 10 years. My bank made me agree to change my 20 yr heloc to a 1 yr with a balloon and guarentee it with my business or refused to refi my commercial line of credit which ballooned. The next year they refused to refi either unless I agreed a mtg error was made, belonged on a property I was selling, pay it and give them my remaining sale funds to pay down the heloc. Now both ballooned again, they wont refi unless I agree to give up foreclosure defenses and waive their liability. I refused so wont refi, raised all interst rates and called another loan in, filing foreclosure on everything.

Attorney answers (1)

  1. Ryan Sanford Grazi

    Contributor Level 11


    Lawyers agree

    Answered . It sounds like you have a very complicated problem with your lender. I would recommend speaking with an experienced attorney in person to go through all of the facts and documents. Many times we hear that the bank officers say one thing, but the paperwork doesn't reflect the same statement or says something entirely different. You certainly have some issues that need to be resolved with your lender before they file for foreclosure and complicate the problem further.

    This answer is provided without full consultation and is suggestive in nature and not to be considered legal... more

Related Topics

Buying real estate with a home mortgage

A home mortgage is a loan to buy a home, where the home is the collateral. There are many different types, and the right one for you depends on your situation.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.


Ask now

25,690 answers this week

3,014 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

25,690 answers this week

3,014 attorneys answering