(DOWNLOAD) "Villegas v. Transamerica Financial Services Inc." by Arizona Court of Appeals " Book PDF Kindle ePub Free

eBook details

Title: Villegas v. Transamerica Financial Services Inc.
Author : Arizona Court of Appeals
Release Date : January 31, 1985
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 63 KB

Description

Because of the unemployment of Mr. Villegas in late 1980, payments on the loan became delinquent. Transamerica informed the plaintiffs that it would either foreclose on its deed of trust or offer the plaintiffs a new loan at an interest rate of 19.9 percent, with a loan finance fee of 9 "points" and monthly payments of $420 for a period of fifteen years. It did not tell them the existing loan would be paid off in ten years. Plaintiffs accepted the new loan. Because the second loan would cost the plaintiffs nearly twice as much as the first, they brought an action alleging that the transaction was usurious, that it violated the Arizona Consumer Fraud Act, and that it was in breach of a duty of good faith and fair dealing by defendant. Plaintiffs appeal from summary judgments against them on each of their claims.