West Virginia Record

Sunday, October 20, 2019

Calvin woman seeks to rescind loan from CitiFinancial, Bayview Loan


By Carrie Bradon | Mar 30, 2019

SUMMERSVILLE – A Calvin woman claims her property is in jeopardy of foreclosure because of predatory lending and is seeking to rescind the loan.

Sharlotte Adkins filed a complaint in Nicholas Circuit Court against Citifinancial Inc. and Bayview Loan Servicing LLC over allegations of illegal loan, unlawful debt collection and other counts.

The suit states that the plaintiff's parents deeded her a one-quarter acre piece of land with a camper 35 years ago and additional spaces have been added to the structure. The plaintiff alleges she was solicited in 2000 by CitiFinancial to consolidate unsecured debt and obtain a security interest in the property. The plaintiff alleges she did not have any home-secured debt at that time. 

The plaintiff alleges she was given a loan and more than $3,808 in credit life insurance premiums, which she alleges she never requested. 

The suit states CitiFinancial hired an appraiser who valued the property at $27,000 in December 2000, but the property is worth substantially less than this amount. The plaintiff alleges she was encouraged by the defendant to include more than $20,000 in unsecured debt and an additional $5,317 in closing costs, on the loan that was $28,718.87. 

CitiFinancial allegedly solicited the plaintiff again in December 2001 for refinancing and closed a refinancing for $24,195.37, which placed the plaintiff in jeopardy of foreclosure. 

The suit states Bayview began to service the plaintiff's loan in February 2017 and began to threaten the plaintiff about debt collection on the loan, causing the plaintiff to suffer from stress, worry and anxiety. She alleges she has paid more than $51,000 since December 2001.

The plaintiff is seeking all reasonable sums due, attorney fees and court costs. She is represented by Jed R. Nolan of Mountain State Justice Inc. in Beckley.

The case has been assigned to Judge Stephen O. Callaghan.

Nicholas Circuit Court case number 19-C-14

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