Further, upon concluding that the arrangement (a realty purchase by a bank from a third party, coupled with a contemporaneous lease with option to buy to the end user – true owner) was an equitable mortgage, the court ruled that the subject transaction was a usurious disguise for the imposition of illegal interest.
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As the docket entries below show, the Florida 4th District appellate panel affirmed the 17th Circuit’s dismissal of the case and ordered Maslanka to pay the attorney fees of the two mortgage creditors that he sued. 4D14-3015-Zdzislaw E. Maslanka v. Wells Fargo Home Mortgage and Embrace Home Loans
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The Home Equity Theft Reporter: Florida appeals court revisits earlier Ruling Dealing With Two Lenders Simultaneously Foreclosing The Same Mortgage In Separate Legal Actions Over the last two decades home ownership has increased by only 3.6%, but foreclosures per home have increased by 335.6%.
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