CONSUMER FRAUD VICTORY AGAINST COUNTRY’S LARGEST REVERSE MORTGAGE BANK

In a consumer fraud action against the country’s largest reverse mortgage bank, the Appellate Division reversed a Law Division decision and ruled that the monthly proceeds of a reverse mortgage are subject to a Writ of Execution. In the subsequent Consumer Fraud trial against the bank, after several days of trial the bank agreed to discharge the mortgage and pay a counsel fee to Pellettieri Rabstein & Altman of $161,000.00.