RTC Sued Over Mortgage Errors: Borrowers seeking...
From Times Staff and Wire Reports
RTC Sued Over Mortgage Errors: Borrowers seeking refunds from failed thrifts for errors on adjustable-rate mortgages have filed a class-action suit against the Resolution Trust Corp. in federal court in Indianapolis. The suit is believed to be the first of its kind against the agency. The loans in question were taken out at two thrifts--later seized by the government--by Byron and Wilma Wheeler of Indianapolis and Barnie and Della McDonald of Metairie, La. The suit said that the interest rates on the loans were higher than they should have been when they were periodically adjusted and that the plaintiffs were overcharged.
