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
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
