Mealey's Banking & Finance - 7th Circuit Finds No Error In Ruling Rejecting Couple's Repayment Plan

CHICAGO - A Seventh Circuit U.S. Court of Appeals panel on May 28 upheld a federal judge in Illinois' ruling rejecting a couple's request to tender the remaining principal on their mortgage loan by making monthly, interest-free payments for 26 years, finding that the proposed payment plan would be inequitable to the defendants (Wilson Iroanyah, et al. v. Bank of America, N.A., et al., No. 13-1382, 7th Cir.; 2014 U.S. App. LEXIS 9877).

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