NJ High Court Reinstates Damages In Mortgage Fraud Suit

Law360, New York (October 3, 2013, 9:20 PM EDT) -- The New Jersey Supreme Court on Thursday reinstated a quarter-million dollar treble damages award to homeowners who brought an action under the state’s Consumer Fraud Act after being bilked in a mortgage foreclosure rescue plan, reversing an appellate panel’s determination that the homeowners suffered no ascertainable loss.

In a 5-2 split decision, New Jersey’s high court revived a trial judge’s treble damages award of $226,041 to Anthony and Denise D’Agostino, who sued Ricardo Maldonado for defrauding them out of their home under the auspices of rescuing...
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