Mineral Wells couple sues Citimortgage for predatory lending

HUNTINGTON -- A Mineral Wells couple is suing Citimortgage, Inc., for participating in predatory lending practices.

In 1994, Charles and Linda Yardley purchased their current home for $43,500 and financed it with an FHA loan, according to a complaint filed May 20 in Cabell Circuit Court.

The Yardleys claim in summer 2002, they were solicited to refinance their home by a mortgage broker working on behalf of ABN-AMRO, a Dutch-based bank.

Linda Yardley was opposed to the refinance and did not sign the Deed of Trust, according to the suit.

The Yardleys claim when the defendant acquired ABN-AMRO, it continued to service their loan and when Charles Yardley was in an automobile accident in 2008, the couple suffered a temporary loss of income.

The couple contacted the defendant to seek assistance with their mortgage payments and were provided a loan modification, according to the suit.

The Yardleys claim they were told they would provide three trial loan payments and then the loan would be converted to a permanent modification, however, their third payment was returned and they were informed their loan would not be modified.

The couple began to make their regular monthly payments after that, but in March 2011, they were told their house was in foreclosure, according to the suit.

The Yardleys claim the defendant breached its contract and participated in predatory lending practices.

The Yardleys are seeking compensatory and punitive damages and civil penalties. They are being represented by Bren J. Pomponio and Jacklyn A. Gonzales.

The case has been assigned to Circuit Judge F. Jane Hustead.

Cabell Circuit Court case number: 11-C-331