A mortgage is one of the largest and most important types of loans most get, as it allows hopefuls to buy a home. However, as exciting as the process may be, it’s wise to familiarize yourself with the aspects of real estate law that protect a borrower’s interests. According to the legal team at Bernardini Law P.C. in North Andover, MA, doing so ensures you’re in the best position to get the most suitable loan for your needs while avoiding scams. 

What Are Your Rights Under Real Estate Law? 

According to real estate law, a mortgage borrower has the right to shop for the best loan and compare the fees of different lenders, be informed about the total cost, ask for a good faith estimate of the charges, and know what they won’t refund if they cancel the loan. Further, borrowers have the right to ask their mortgage broker how much they’re getting paid, for clarification on any charges or terms of the agreement that are unclear, be given a non-discriminatory credit decision, and know why they reject an application.

What if You Believe Your Rights Were Violated? 

If you believe any of these rights have been violated when shopping or applying for a mortgage, it’s imperative to contact an experienced real estate attorney right away. They will evaluate your situation to determine if you’ve been the victim of predatory lending, mortgage discrimination, or any other unfair practices. If so, they’ll present all viable legal options moving forward and advocate on your behalf. 

Before applying for a home loan, do your due diligence and explore all mortgage options, vet out potential lenders, and get to know your borrowers’ rights. With their extensive background in real estate law, the attorneys at Bernardini Law P.C. provide quality counsel and effective representation to handle violations of clients’ civil liberties. Contact them at (978) 794-5525 to schedule a consultation today, or visit their Facebook page for more news, tips, and updates.