Lender Sued for Freezing HELOCs, Expert Says Lawsuit is Frivolous
June 22, 2009
California borrowers sued a major financial institution and its mortgage arm for freezing their HELOC accounts as the financial services industry teetered on the brink of collapse. But a legal expert said the suit, for which class certification is being sought, is just another frivolous attempt to label a defensive action in bad economic times as abusive. The suit filed...