
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, March 12, 1991                   TAG: 9103120299
SECTION: VIRGINIA                    PAGE: B-4   EDITION: STATE 
SOURCE: 
DATELINE:                                 LENGTH: Short

RULING ON LOAN SCAM MAY HAVE WIDER IMPACT

A Virginia Supreme Court ruling that wiped away a Roanoke County woman's loan payments calls into question numerous second-mortgage loans around the state in which companies hid interest charges, an attorney said Monday.

The Supreme Court last week said Alice Mae Garrison didn't have to pay a dime more on her loan because Landbank Equity Corp. of Virginia Beach had included hidden interest and other illegal charges to the loan amount.

Attorney Henry Woodward, director of The Legal Aid Society of Roanoke Valley, said the high court ruling "makes it clear that attempts to evade disclosure of interest . . . are going to be frowned upon." - Associated Press

by CNB