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WEINSTEIN v. INVESTORS SAVINGS AND LOAN ASS'N

154 N.J. Super. 164 (1977)

381 A.2d 53

LEWIS J. WEINSTEIN AND DORIS M. WEINSTEIN, PLAINTIFFS-RESPONDENTS AND CROSS-APPELLANTS, v. INVESTORS SAVINGS AND LOAN ASSOCIATION, DEFENDANT-APPELLANT AND CROSS-RESPONDENT.

Superior Court of New Jersey, Appellate Division.

Decided November 16, 1977.

Attorney(s) appearing for the Case

Mr. Vincent D. Manahan, III, argued the cause for appellant and cross-respondent (Messrs. Herrigel, Bolan & Manahan, attorneys; Mr. Rodger K. Herrigel and Mr. Manahan, III, on the brief).

Mr. Lewis J. Weinstein argued the cause for respondents and cross-appellants.

Before Judges HALPERN, LARNER and KING.

The opinion of the court was delivered by HALPERN, P.J.A.D.

The narrow issue on this appeal is whether an amendment to N.J.S.A. 46:10B-2, which limits the amount that a lending institution may charge for prepayment of a mortgage, applies to mortgage agreements entered into prior to the effective date of the amendment.

On March 15, 1973 plaintiffs executed a bond and mortgage to defendant for $63,700...

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