Two accuse lender of unlawful interest rate increase

By Philip Gonzales | Aug 10, 2016

BECKLEY — Two Raleigh County residents are suing Pioneer Community Bank Inc., a mortgage lender, citing alleged breach of contract.

Jack Bishop and Kathy Bishop filed a complaint on July 18 in Raleigh Circuit Court against Pioneer Community Bank Inc., alleging that the mortgage lender breached a loan modification agreement by increasing the interest rate to 6.95 percent.

According to the complaint, the plaintiffs allege that as a result of the defendant's actions, they have suffered damages, annoyance, inconvenience, emotional distress, worry and fear of losing their home. The plaintiffs hold Pioneer Community Bank Inc. responsible because the defendant allegedly defrauded them to increase the indebtedness of their home, refused to release the deed of trust for their home, failed and refused to appropriately apply their payments to their account and used fraudulent, deceptive or misleading representations or means to collect from them.

The plaintiffs request a trial by jury and seek maximum civil penalties for each alleged violation of the West Virginia Code, actual damages, attorneys' fees, cost of litigation and such other relief as the court deems just and equitable. They are represented by Sarah K. Brown of Mountain State Justice Inc. in Charleston and Lydia C. Milnes of Mountain State Justice Inc. in Clarksburg.

Raleigh Circuit Court Case number 16-C-475

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