|
|
Article: OHIO DEPARTMENT OF COMMERCE COMPLAINT LEADS TO INJUNCTION AGAINST EVERGREEN INVESTMENT, EVERGREEN HOMES
- Article from:
- US Fed News Service, Including US State News
- Article date:
- September 27, 2006
CopyrightCopyright © HT Media Ltd. All Rights Reserved. Provided by ProQuest LLC. (Hide copyright information)
|
The Ohio Department of Commerce issued the following news release:
The Ohio Department of Commerce Division of Financial Institutions filed a lawsuit in Summit County Common Pleas Court today, resulting in an agreed preliminary injunction against Evergreen Investment Corporation and Evergreen Homes, LLC, both of 611 W. Market St., in Akron.
The injunction bars the companies from making additional second mortgage loans in violation of the Ohio Mortgage Loan Act. It also turns existing second mortgages made by the companies into zero percent interest loans by requiring that all interest and charges be applied to the principal.
The Division's complaint alleged that Evergreen Homes unlawfully ...