Wasser v. Citizens & Southern National Bank

Pope, Judge.

On June 30, 1982, after defaulting on their homeowners loan and in an effort to prevent foreclosure, Steven and Linda Wasser filed suit against appellees Citizens and Southern National Bank and Family Credit Services, Inc. The Wassers alleged that appellees had violated OCGA § 7-4-30 et seq., popularly known as the Georgia Secondary Security Deed Act, by contracting for a rate of charge in excess of that allowed by the law. The Wassers sought forfeiture by appellees of the principal and interest of the loan amount, as well as return of all money previously paid to appellees in the…