RICHMOND, VA. (CN) – Madison Funding persuaded a semi-literate customer who earns $15,000 a year to sign a blank loan application for a $272,000 house, falsely claimed on the application that he earned $60,000 a year, promised him it could get him “government loans” to help pay the $2,500 monthly mortgage and – what do you know? – the house is in foreclosure, the man claims in Henrico County Court.
The plaintiff and his wife also sue Indymac Bank and Jason Everette, the Madison agent who allegedly pulled the fast one. They want punitive damages for fraud. They are represented by Darryl Parker.