Re: Hard Money Violations??

I think you would have a hard time convincing a judge of usery simply based on an interest rate of 12% and using their own LLC as the source of funds. Brokers are allowed to write loans for greater than 10% by statute and do so all of the time and often involve their own funds. Twelve percent is pretty common in the industry. Adding to the complexity is that the property is a duplex and non owner occupied implying that the borrower would have had more knowledge than the average buyer and would have known what they were getting into at the time of the transaction.

However, if you desire an attorney, I would think that you would want to search for one who is familiar with RESPA. There are a couple of attorneys here on the group who can probably chime in and correct me or point you in a different direction.