Ruler faults Lender in Option ARM
Wednesday, January 25th, 2006Federal District Court Judge Lynn Adelman of the Eastern District of Wisconsin has ruled in favor of a Wisconsin couple who filed suit against Maryland-based Chevy Chase Bank for inadequately disclosing the terms of their option adjustable-rate mortgage.
Because the disclosure statement read “5-year fixed,” the couple believed the introductory interest rate of 1.95 percent was […]