Law, Business and Society 11th Edition by Tony McAdams

Exercise 23

Sarah Hamm sued Ameriquest Mortgage Company claiming a violation of the Truth in Lending Act (TILA). Hamm borrowed money secured by a 30-year mortgage from Ameriquest. She signed a "Disclosure Statement" specifying, among other things, that she was responsible for 359 payments at a specified amount and one payment for the last month of a slightly smaller amount. The Statement did not, however, explicitly specify, as required by the TILA, the total payments due (360). Was the TILA violated Explain. See Hamm v. Ameriquest Mortgage, 506 F.3d 525 (7th Cir. 2007).