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...
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