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Thursday, June 21, 2012

US Bank, N.A. v. Nikia Hough (067029; A-82-83-10)


US Bank, N.A. v. Nikia Hough (067029; A-82-83-10)

  According to the plain language of N.J.A.C. 5:80-
26.18(e), the portion of the loan exceeding the
permissible limits of N.J.A.C. 5:80-26.8(b) is void
and not collectible by the lender; the remainder of
the loan is valid and secured by the affordable
housing unit.5-22-12