Predatory Lending Defense

Matthew T Foley

Case Conclusion Date:June 17, 2009

Practice Area:Foreclosure

Outcome:Withdrawal of Complaint

Description:An aggressive Arizona credit union filed an objection to discharge against a Hispanic borrower on a defaulted 2nd mortgage. After researching the credit union's pattern of practice, the bankruptcy docket reviewed a pattern of suing Hispanic borrowers on "stated" second mortgage loans. These loans, with inaccurate income, were accomplished with the unclean hands of the credit union's loan originators. In light of showing the credit union a discriminatory and predatory practice, they immediately withdrew their complaint.