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Real Estate & Property Law

: The Home Equity Theft Reporter

Failure To Allege Charging Of Excessive Interest In Sale Leaseback, Foreclosure Rescue Suit Fatal To Usury Claim

By r morris

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In a recent ruling awarding a six-figure judgment to a New Jersey homeowner/couple who were swindled in an equity stripping, foreclosure rescue ripoff, a Federal bankruptcy judge recharacterized a sale leaseback as an equitable mortgage, and granted relief on most of the Plaintiff/homeowners' claims. However, he refused to grant relief on a claim that the equitable mortgage violated the state

Full post as published by The Home Equity Theft Reporter on February 12, 2010 (boomark / email).

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