Balloons and Interest-Only Payment Schedules for Texas Home Equity Loans
November 11, 2015 14:37 Filed in: home equity loan modifications
In the Nationstar MDL, Chase, and Bank of America class actions in which I serve as lead counsel, I am still fiercely trying to uphold the Texas Constitution's ban on volatile payment structures (Art. XVI, Section 50(a)(6)(L)), such as balloons, interest-only payments, and payment volatility. I have now filed a Petition for Review in the Texas Supreme Court in the Nationstar MDL, which is the leading case, and also a Petition for Certiorari in the U.S. Supreme Court (and a Reply there as well) to try to keep the Nationstar, Chase, and BofA class actions alive (BofA is stayed pending the Nationstar MDL final decision).