Las Vegas Man Sues Countrywide After Adjustable Rate Mortgage Doubles
Your adjustable rate mortgage that you signed for a few years ago has just doubled, what do you do? Well one Las Vegas man decided to sue his lender because his mortgage payment doubled when his adjustable rate mortgage adjusted.
The lawsuit claims he was talked into an adjustable rate mortgage that he could not afford and that documents were falsified by those that were involved in the transaction.
The mans attorney is claiming that Countrywide “took advantage of his lack of education, training, skill and ability”.
So let me get this straight; you sign for a loan, your payment goes up and then you sue and claim “they took advantage of your lack of education, training, skill and ability?”
Now if loan documents were falsified in order for him to get approved then absolutely he was taking advantage of. But if after all facts come out and there is no proof that loan documents were falsified then I just don’t see how he can sue because someone else is more educated than him.
About the Author
Tony Sena is broker/owner of Shelter Realty in Las Vegas Nevada. For more than a decade Tony and his partners have provided residential real estate and property management services to sellers, buyers, investors, and property owners in the Las Vegas Valley. A Las Vegas native and former police officer for the City of Henderson, Tony brings to the table a unique local perspective that continues to serve his clients well.