The Los Angeles Daily Journal recently published a story about a case, Ralston v. Mortgage Investors Group, Inc., in which Palmer, Lombardi & Donohue is representing the named co-defendant. The story describes the efforts of Palmer Lombardi and counsel for Mortgage Investors Group, Inc. to rebuff claims that the lenders misled borrowers about the terms of option adjustable-rate mortgages with initial interest rates as low, in some cases, as one percent.
Roland P. Reynolds, a Palmer Lombardi partner handling the case, is quoted in the story; he characterizes the plaintiffs’ claims as “buyer’s remorse.”
“All of the terms of the loans were fully disclosed to the borrowers at the time that they got the loans,” Reynolds says. “The notion that a plaintiff believes he had a 1 percent loan for 30 years is simply not believable.”
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