Mealey's Banking & Finance - Judge Dismisses Couple's TILA, RESPA Claims In Reverse Mortgage Lawsuit

CAMDEN, N.J. - A couple's claims that they were not provided with disclosures required by the Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) when closing on a reverse mortgage are barred by the statutes' three-year limitations period, a federal judge in New Jersey ruled April 1 in dismissing the claims (Alexander Franklin, et al. v. Freedom Financial Acquisition LLC, et al., No. 12-7884, D. N.J.; 2014 U.S. Dist. LEXIS 44308).

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