Home -> Law Blog Directory -> Real Estate & Property Law Blogs -> The Home Equity Theft Reporter

Real Estate & Property Law

: The Home Equity Theft Reporter

Wachovia Hit With Class Action Over Option ARMs; Suit Calls Mortgage A "Neutron Bomb That Will Kill All The People But Leave The Houses Standing"

By r morris

In a Federal District Court somewhere in Illinois, The Madison County Record reports:A class action lawsuit has been filed against three financial corporations, including banking giant Wachovia, alleging Illinois homebuyers were forced into negative amortization after the banks deceived them when they issued option adjustable rate mortgages. Lead class plaintiffs Michael and Jayme Brunkhorst

Full post as published by The Home Equity Theft Reporter on February 23, 2009 (boomark / email).