Elderly parents mortgaged their home to secure their son’s borrowings. The mortgagee sued for possession upon the son’s default and the parents claimed undue influence and sought to have the loan and mortgage set aside under the Contracts Review Act 1980. Contracts Review Act claim The court did not believe the son. It made the …
Fast Fix Loans v Mladenko Samardzic [2011] NSWSC 19 Read More »
The borrowers sought to set aside a mortgage taken over the family home in 1988. The lender sought to enforce the mortgage. The interest rate on the mortgage was 20% per annum. This was not unusual, at the time of the loan the interest-rate on Court judgments was 18% per annum. The mortgage contained a …
In this case the lender sought to enforce a mortgage given by two elderly immigrants whose claimed unfamiliarity with English. The mortgage was given to secure a loan made to their son which was allegedly for the purpose of repaying a baseball bat wielding creditor. The parents sought to avoid the guarantee (and therefore the …
Reliance Financial Services v Sobbi [2010] NSWSC 236 Read More »
In this case the borrower alleged that any signature purporting to be his on the loan agreement and mortgage was a forgery or had been obtained by fraud. In addition, the borrower alleged that while he was in Westmead Hospital recovering from an operation an agent of the lender attended his hospital bed with a …
This involved a loan of $224,000 by way of first mortgage over the home unit of a borrower who was 74 years old, could not speak English, and who’s only apparent source of income was an aged persons pension of about $500 per fortnight. The case was interesting because it appears to have involved fraud. …
Perpetual Trustee Company v Kotevski [2009] NSWSC 1228 Read More »
A man arranged a mortgage over a property to be purchased in the name of his mother-in-law, as he was a bankrupt and could not own property. This case involved an application by the mother-in-law to set aside part of the default judgment. The mother-in-law alleged her signature was forged on the documents, that she …
The borrower immigrated from Lebanon in 1984. Her husband transferred the house into her name and she asserts he had her sign mortgage documents which she did not understand, did not read, and knew nothing about. The lender asserted her Contracts Review Act defence was hopeless and sought summary judgment. However Associate Justice Harrison held: …
Perpetual Trustee Company v Azzi [2008] NSWSC 1008 Read More »
In this case the son borrowed on his non-English speaking parent’s house to invest in the short term loan market. The money was lost and the lender sought possession of the house. The parents sought to effectively cross claim against the solicitor who represented them on the mortgage. Lawcover refused indemnity and so they sought …
Perpetual Trustees Victoria v Malouf [2008] NSWSC 834 Read More »
In this case the owner of the mortgaged property was a 91 year old Sicilian woman who lived in a nursing home and although a resident of Australia for 55 years could not speak, read or write English. The mortgage was executed under a power of attorney by her son and the money used for …
In this matter a 81 year old Greek man and his 71 year old Greek wife (both with limited English) granted a power of attorney to their son who used it to transfer a third of the family home to himself and then borrow from Interstar. When that loan defaulted the son then refinanced with …
J P Morgan Trust Australia v Siahos [2008] NSWSC 207 Read More »
