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Bankruptcy

: Georgia Bankruptcy Blog

Can A City Sue A Mortgage Lender For Indirect Or Secondary Damages From Predatory Or Discriminatory Subprime Lending?

By Scott Riddle

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The City of Baltimore thinks so, and has filed a lawsuit against Wells Fargo. Baltimore homeowners could receive counseling and financial support - including short-term loans to help avoid foreclosure - if the city wins the predatory and discriminatory lending lawsuit it filed yesterday against Wells Fargo Bank, Mayor Sheila Dixon said. After reviewing foreclosure data, city attorneys concluded that the leading mortgage lender was steering black homebuyers into high-cost, subprime loans, a read more

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Full post as published by Georgia Bankruptcy Blog on January 09, 2008 (boomark / email).

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