GSP Investigates Home Equity Line of Credit Lenders
Posted Feb 01, 2016 by Alan Rosca
Did you have a Home Equity Line of Credit, or HELOC, between 2002 and 2008? GSP is investigating whether certain banks and finance companies improperly calculated amounts due from borrowers during the repayment period. Our investigation revealed that certain Home Equity Line of Credit Lenders improperly calculated monthly payments, resulting in borrowers being required to make substantially higher payments than their loan agreements actually required. Sometimes, those payments were as much as 15 to 20% higher than they should have been.
If you had a Home Equity Line of Credit with a bank or finance company between 2002 and 2008, we are interested in hearing from you. Based on what we have learned pursuant to our ongoing investigation, we can determine whether you were overcharged by your lender, and whether you have a claim to recover those amounts. Please contact Paul Scarlato by email at [email protected] for more information.
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