It is finally becoming apparent that many lending institutions engaged in unethical and predatory lending practices at the height of the mortgage bubble, circa 2005.
Now, it seems, the tables may finally be turned. A Wisconsin couple is now suing Chevy Chase Bank for what they say was a mortgage with deceptive terms.
A decision in the case is close at hand, and could open the door to additional class action lawsuits. If this were to happen, folks who got locked into deceptive and predatory mortgage products could have their mortgages canceled to allow them to seek out mortgages with better terms.
You can get more details here:
==> Potential Cancellation of Mortgages
If you enjoyed this post, make sure you subscribe to my RSS feed!
Comments on this entry are closed.