NJ High Court Mulls Treble Damages In CFA Mortgage Rescues

Law360, New York (January 29, 2013, 4:46 PM ET) -- The New Jersey Supreme Court on Tuesday considered whether mortgage rescue transactions that fall under the state Consumer Fraud Act entitle jilted homeowners to treble damages, a standard the Legal Services of New Jersey said is necessary to deter foreclosure fraudsters.

In oral arguments, LSNJ as amicus curiae backed a New Jersey couple's fight to obtain treble damages from an individual who allegedly promised to fix their defaulted mortgage but instead had them sign a quitclaim deed, telling the high court that the fact that a...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required