Lending disputes are more common than we know.
At some point in their lives, most people need to borrow money and take out a commercial loan, whether it's for purchasing a home, for an investment in real estate property, for a real estate development, for a large company or for small mom and pop business.
There are a variety of ways lending disputes can arise during this process. The process of taking out a large commercial loan can be intimidating and overwhelming, which is why it's so important that the process go smoothly and dispute-free.
While it's true that banks and commercial lenders must legally abide by federal and state regulations which state that they must act honestly fairly to borrowers, it's unfortunately not always the case. Many times banks and lenders will ignore this and continue to engage in illegal and deceptive practices.
Here are some examples of disputes that can arise between borrowers and commercial lenders:
- Breach of contract;
- Allegations of fraud;
- Failure to carry out the terms of the commercial loan agreement;
- Failure to disclose hidden fees or inflating rates (also known as predatory lending claims);
- Breach of fiduciary duty;
- Errors with the loan documents;
- Using unfair lending practices;
- Discrimination against the borrower;
- and, Disputes regarding foreclosures.
Examples of solutions to disputes between borrowers and lenders include:
Seeking an experienced commercial litigation attorney who can either settle the dispute by negotiating with the commercial lender or they can file a lawsuit against that lender. If the lender is suing the borrower, a commercial litigation attorney can also defend the borrower in a lawsuit.
These are just a few types of disputes that can arise between a borrower and a commercial lender. For more information that better pertains to your particular dispute, consult with a knowledgeable and experienced commercial litigation attorney.