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Foreclosure Defense

Understanding TILA Basics Is Essential

By Mark Ireland

The Truth in Lending Act, or TILA, is a powerful  tool every attorney can use to help clients facing foreclosure. TILA favors consumers and, with its remedy of rescission, it can put borrowers back into the position they were in when the loan was originated. Rescission can be claimed against any assignee of the loan. All attorneys working with clients facing foreclosure need to understand TILA, how it can be used, and its terms.

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