Monthly Archives: February 2016

Sale of Promissory Note Does Not Render Loan Usurious

A home buyer purchased a property that was subject to a mortgage. The mortgage secured a $500,000 loan that the home seller had received from its lender. The buyer purchased the home from the seller but the property remained subject to the … Continue reading

Posted in California, Civil Usury | Comments Off on Sale of Promissory Note Does Not Render Loan Usurious

California Lender Subject to Compound Interest Disclosure Requirement Despite Exemption from Usury Restrictions

An insurance company provided four loans to a customer. The policies were secured by the value of the customer’s life insurance policies. The policy documents provided that any loans taken out against the policies would charge compound interest. After taking the loans, the customer … Continue reading

Posted in California, State Court | Comments Off on California Lender Subject to Compound Interest Disclosure Requirement Despite Exemption from Usury Restrictions