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LANG v. ADVANTA MORTG. CORP.

No. 01 C 7910.

208 F.Supp.2d 906 (2002)

Jeffrey LANG, Plaintiff, v. ADVANTA MORTGAGE CORPORATION, Defendant.

United States District Court, N.D. Illinois, Eastern Division.

July 2, 2002.

Attorney(s) appearing for the Case

Christopher V. Langone, Joel D. Dabisch, Mark T. Lavery, Langone Law Firm, Chicago, IL, Lance A. Raphael, Stacy Michelle Bardo, Chicago, IL, for plaintiff.

Irving Bert Levinson, Michael David McCullough, Piper Rudnick, Chicago, IL, for defendant.

MEMORANDUM OPINION AND ORDER

GETTLEMAN, District Judge.

In his complaint, plaintiff Jeffrey Lang alleges that he entered into a variable rate residential mortgage loan with defendant Advanta Mortgage Corporation ("Advanta Mortgage") at an interest rate above 8% per annum and containing a prepayment penalty provision. This contract, plaintiff alleges, violates the Illinois Interest Act 815 ILCS 205/4(2)(a), which prohibits prepayment penalties in residential...

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