POINT PLEASANT -- The daughter of a Leon woman is suing a home loan company over predatory lending.
Jeannette E. Didomenico, as executor of the estate of Lillian J. Thaxton, filed a lawsuit March 12 in Mason Circuit Court against Embrace Homeloans Inc., formerly known as Advanced Financial Services Inc., Mortgage Information Services Inc. and Janette Fisher, alleging they loaned her parents more than the house was worth.
The lawsuit states Thaxton and her late husband purchased the home at 429 Arbuckle Creek Road, Leon, in 1994 for $62,500 and was solicited by Embrace Home Loans in 2008 to refinance the home. The home was refinanced on Feb. 27, 2008, for $115,000 and Fisher conducted the closing, the complaint states. The home had a fair market value of only $59,500, according to the complaint.
Didomenico is seeking a declaratory judgment charging the defendants with unauthorized charges and illegal practices, actual damages, civil penalties of $4,725, plus court costs.
She is being represented by private attorney Daniel T. Lattanzi.
Mason Circuit Court Case No. 14-C-36