Interstate transacts business in this district. Defendant James Ludlow is President and co-owner of Interstate. He resides and transacts business in this district. He resides and transacts business in this district. Defendant Interstate is engaged in subprime lending.
Subprime lending refers to the extension of credit to high risk borrowers.
This balloon payment is the amount necessary to pay the principal balance of the loan and the accrued interest on the final payment date. This is a mortgage subject to special rules under the federal Truth in Lending Act. This Court's Power to Grant Relief 25.