“A good name is more desirable than great riches; to be esteemed is better than silver or gold.” - Proverb 22:1
Thanks & Praises be unto The Lord for the wisdom, knowledge and understanding on legal matter because I received countless feedbacks from folks facing foreclosure and bankruptcy around the United States as follows:
Comments: "I have been inundated with TILA questions. So I went out hunting to see if anyone had already written about it in terms that a lay person might be able to understand. What I found is shown below. I believe it to be generally correct and the citations are good citations of law. See this site for the entire write-up. It should give most lay people an idea on how to handle this and it will be valuable to your lawyer if he/she is not totally familiar with the TILA context at the following link:" http://www.rcxloan.com/Civil_Action_BK_Motion_14.htm. Statement made by Attorney at Law, Neil F. Garfield, M.B.A., J.D.
Download in PDF - Banking Default Letter/Motion for Violation of Truth-In-Lending Act (TILA)
I can be reached for a FREE consultation at (cell) 617-202-8069 or (703) 584-5998,
it's FREE, there is no obligation whatsover...! Sincerely, Pierre R. Augustin, MPA, MBA
Mortgage Refinancing: How to Lower Your Monthly Payment
By Louie Latour 
If you are considering refinancing your mortgage because you need to lower your monthly mortgage payment amount, there are a number of different ways to do this. Finding the best way for you means doing your homework to avoid overpaying on the finance charges. Here is what you need to know to get started.
Everyone’s financial situation changes as the years pass. People marry, find new jobs, lose jobs, have children, or fall on hard times. This is perfectly normal and happens to everyone; managing your mortgage during these changes can be stressful and could negatively impact your relationships and family. There are steps you can take to ease the strain on your budget caused by the mortgage payment; however, make sure you fully understand what is involved and the risks associated with changing the way your mortgage is structured.
If you have an adjustable rate mortgage that is scheduled to “adjust” in the coming months to a higher interest rate, you might want to switch to a fixed rate mortgage to ensure your financial peace-of-mind. To lower your monthly payment amount you will need to choose a mortgage that has a lower interest rate and/or has a longer term length. Term length is the amount of time the lender gives you to pay back the mortgage and largely determines what your monthly payment will be.
There are risks when refinancing your mortgage. By choosing a mortgage with a lower payment you could end up paying more to the lender in finance charges over the life of the loan. If your current mortgage has a prepayment penalty in the contract, you will have to pay this penalty before refinancing the loan.
To gain the maximum benefit from refinancing when you need the lowest payment possible, combining a lower interest rate with a longer term length will give you the lowest payment amount possible. If your financial situation is dire and you are not able to make the current payments, contact your lender and find out if a “payment holiday” is available to you. The lender may allow you to temporarily suspend payments and you can use this time to secure the financing you need.
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