Woman fights bank fees, missed final house payment - Yahoo! News

Woman fights bank fees, missed final house payment - Yahoo! News: "PHILADELPHIA – An elderly New Jersey woman billed $5,800 after missing the final payment on her 30-year mortgage can pursue her lawsuit against the debt collectors.

Lawyers for 85-year-old Dorothy Rhue Allen say the fees charged by two banks and a law firm violate consumer-protection laws.

The suit says LaSalle Bank and Cenlar Federal Savings Bank started foreclosure proceedings in 2007 after the hospitalized Allen missed the last $432 payment on her Deptford, N.J., home.

The banks advised her lawyers she could pay $5,800 to avoid foreclosure. But her lawyers instead sued over the fees, and the foreclosure action was dropped.

A U.S. appeals court this week says Allen can pursue her case, reversing a federal judge who threw it out.

A lawyer for the Trenton, N.J.-based banks declined to comment.

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Life, Liberty, & the Pursuit of Happiness

Special Report: Is America the sick man of the globe? - Yahoo! News

Special Report: Is America the sick man of the globe? - Yahoo! News: "- Sent using Google Toolbar"

This article should be recommended reading for every American who wonders about federal deficits and unemployment issues.  The forecast is not very pretty. 

I would really like to have your comments after reading the article.


Life, Liberty, & the Pursuit of Happiness

Home Sales and Construction Slowed in May - NYTimes.com

Home Sales and Construction Slowed in May - NYTimes.com

Reflecting on the housing figures, the National Association of Realtors chief economist, Lawrence Yun, said in a statement that job creation was one of the critical elements that would determine whether the housing market can grow without federal stimulus.