ARM Class Action: Interest Rate Abuse?

October 10, 2013

Important Information

Attorneys working with ClassAction.org are no longer reviewing claims for this case. The information here is for reference only. A list of open investigations can be viewed here.

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At A Glance

This Alert Affects
Consumers who obtained an adjustable rate mortgage (ARM).
Damages
Borrowers may have legal recourse to seek financial compensation if the interest rates charged in association with their ARMs exceeded the rate that should have been applied under the terms of the loan.
Company(ies)
Mortgage banks
Additional Details
An adjustable rate mortgage (ARM) is a loan with an interest rate which is linked to an economic index. Based on changes in the index, the interest rate and the borrower's payments, are adjusted up or down.