Besta v. Beneficial Loan Co.
United States Court of Appeals for the Eighth Circuit
855 F.2d 532 (1988)

- Written by Alex Ruskell, JD
Facts
Beneficial Loan Co. (defendant) approached Besta (plaintiff) about a mortgage to finish Besta’s basement. Besta agreed to a mortgage that cost $75 per month for 72 months. Beneficial did not tell Besta that Besta could get the same loan for $58 a month for 36 months. The longer loan was more expensive because it required buying more insurance to protect the property over the longer period. Besta fell behind in her payments, and Beneficial foreclosed on her house. Besta sued Beneficial, arguing that the mortgage was unconscionable. The court ruled in Beneficial’s favor, and Besta appealed.
Rule of Law
Issue
Holding and Reasoning (Beam, J.)
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