Boy. I certainly wouldn’t want to give my business to this bank:

PHILADELPHIA – An elderly New Jersey woman billed $5,800 after missing the final payment on her 30-year mortgage can pursue her lawsuit against the debt collectors.

Lawyers for 85-year-old Dorothy Rhue Allen say the fees charged by two banks and a law firm violate consumer-protection laws.

The suit says LaSalle Bank and Cenlar Federal Savings Bank started foreclosure proceedings in 2007 after the hospitalized Allen missed the last $432 payment on her Deptford, N.J., home.

The banks advised her lawyers she could pay $5,800 to avoid foreclosure. But her lawyers instead sued over the fees, and the foreclosure action was dropped.

A U.S. appeals court this week says Allen can pursue her case, reversing a federal judge who threw it out.

2 thoughts on “Usurers

  1. Cenlar is a loan servicer that does not originate any business. LaSalle Bank was an Illinois Bank bought by Bank of America. I imagine that all the transfers from LaSalle were handled by MERS.

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