Ljepya

The issue is the meaning of the term “itemized” as used in § 1639(a)(2) of Title 15 U¡S.C., referred to as the Federal Truth in Lending Act or The Consumer Protection Act, 15 U.S.C. § 1601 et seq. This court has clear jurisdiction. 15 U.S.C. § 1640 (e).

Plaintiffs, landowners, are borrowers; defendant Lopes, a real estate agent, acted for them and for defendant Paulson, a real estate broker, and defendants HLC and M.L.S.C. Properties, Inc. which created a trust to hold a mortgage for the benefit of numerous individual defendants. These are the circumstances.

Plaintiffs are brothers, each having only grade school education, but having jointly acquired through inheritance a 16 acre tract of land which, because of the possibilities of development into 15 (not 16) one-acre lots for dwelling houses, has had, since at least 1970, a market value of about $225,000. Plaintiffs had placed some time ago a first mortgage of somewhat over $93,000 on their land. Then, after an earlier second mortgage, which had been paid off, and which is not relevant to this case, plaintiffs, in January 1971, placed through Arms, a real estate broker, an $18,000 second mortgage with one of Arms’…