Quantcast

WEST VIRGINIA RECORD

Friday, March 29, 2024

Man sues Chase for predatory lending practices

CHARLESTON -- A Kanawha County man is suing JPMorgan Chase Bank after he claims it participated in predatory lending practices and violated the West Virginia Consumer Credit and Protection Act.

In 2006, Timothy P. Nowlan's elderly mother was solicited for a refinance by the defendant, who advised her that she could obtain money to consolidate and pay off her debts by refinancing her home, according to a complaint filed May 5 in Kanawha Circuit Court.

Nowlan claims the refinanced amount was more than the actual total value of the home, which he discovered after his mother's death on April 9, 2008.

When Nowlan inherited the home, he attempted to continue making the mortgage payments, but when he fell behind in payments he contacted the defendant and asked for a loan modification, according to the suit.

Nowlan claims the bank continuously told him they were not receiving his payments when he would pay them and would not give him documentation that they were receiving them when he requested them to.

The defendant failed to properly apply Nowlan's loan payments and breached its contract with Nowland, according to the suit.

Nowlan is seeking actual, compensatory and punitive damages and civil penalties of $4,400. He is being represented by Kristina Thomas Whiteaker and David L. Grubb.

The case has been assigned to Circuit Judge Louis H. Bloom.

Kanawha Circuit Court case number: 11-C-727

ORGANIZATIONS IN THIS STORY

More News