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Real Estate & Property Law

: The Home Equity Theft Reporter

Subprime Loans That Lenders Knew Or Should Have Known Were Unsustainable Are Illegal, Says Massachusetts High Court

By r morris

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The Boston Herald reports: The Bay State?s highest court has issued a landmark ruling tentatively declaring whole classes of subprime mortgages unfair under Massachusetts law. ?Originating loans with terms that in combination would lead predictably to . . . default and foreclosure (is) within established concepts of unfairness,? state Supreme Judicial Court justices unanimously ruled yesterday.

Full post as published by The Home Equity Theft Reporter on December 10, 2008 (boomark / email).

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