Goldome Credit Corp. v. Burke

The defendant below, Goldome Credit Corporation, appeals from a summary judgment entered in favor of Selena Burke, the plaintiff/class representative in this class action alleging that Goldome imposed excessive charges on mortgage loans. We reverse and remand.

Facts and Procedural History

On August 24, 1988, Selena Burke and her daughter, Diane Burke,2 executed a simple-interest note ("the note") in the amount of $14,101, payable to Horizon Funding, Inc. The note was secured by a mortgage on property owned by Selena. The note bore interest at a yearly rate of 15.5% and was payable in monthly…