West Virginia Record

Monday, October 21, 2019

Charleston homeowners accuse loans providers of fraud

By Philip Gonzales | Jan 25, 2017

CHARLESTON — Two Charleston homeowners are suing home loans providers, alleging fraud and an illegal loan.

Daniel Proctor and Cathy Proctor filed a complaint Dec. 30 in Kanawha Circuit Court against Beneficial West Virginia Inc., Onemain Financial Services Inc. and Springcastle Credit Funding Trust, alleging they fraudulently induced the plaintiffs to obtain an illegal loan.

According to the complaint, as a result of the defendants' acts, the Proctors have suffered humiliation, worry, stress, inconvenience, and fear of losing their Charleston home . The plaintiffs allege the defendants induced them to refinance their home at a very high interest rate of more than 13.5 percent and over-inflated the actual value of their home to $150,000 when it was actually $60,000 in order to enable them to obtain a second mortgage.

The Proctors seek trial by jury, declaration their loan is unenforceable, actual, incidental and consequential damages, plus penalties, attorney fees and court costs and other appropriate relief. They are represented by attorney Daniel T. Lattanzi of Pepper & Nason in Charleston.

Kanawha Circuit Court Case number 16-c-1938

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