Nelson v. Associates Financial Services Co. of Indiana, Inc.

Defendant appeals by leave granted the trial court’s order denying defendant’s motion for summary disposition on count IV of plaintiff Charles Galaske’s first amended complaint. We affirm.

I. FACTS AND PROCEDURAL HISTORY

This case involves defendant’s practice of charging its customers a mortgage prepayment penalty “in an amount equal to six months interest on the amount prepaid in excess of 20% of the original balance” when “an amount in excess of 20% of the original principal balance is prepaid in any twelve-month period within five years of the loan date.” According to plaintiffs’ first…