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Tuesday, April 22, 2014

SALVATORE LOPRESTI AND MARGARET LOPRESTI VS. WELLS FARGOBANK,N.A. A-1356-12T3


SALVATORE LOPRESTI AND MARGARET LOPRESTI VS. WELLS FARGOBANK,N.A.
A-1356-12T3
We hold that the proscription against a prepayment penalty in the New Jersey Prepayment Law, N.J.S.A. 46:10B-1 to -11.1, does not apply to commercial loans even when personally guaranteed by the individual owners of the business to which the loan was made, and secured by a mortgage on their primary residence. 04/08/14