Jul 22, 2010
Mortgage Rescue Firm Hit With Punitive Damages, Attorney Fees
A New Jersey judge on Wednesday ordered the president of a mortgage firm and one of its salespeople to pay $75,000 in punitive damages, and more in attorney fees, for leading a homeowner into unknowingly selling her house and losing $162,000 — for their own benefit. The defendants “continuously concealed the character of their enterprise and the true nature of the transaction” and “preyed” on the homeowner’s “weakened health condition and financial vulnerability,” the judge said.