Live Well Financial Gets Class Suit Closed Pending Bankruptcy

A proposed class action over allegedly improper payments made by Live Well Financial, Inc. for borrowers’ property taxes has been closed indefinitely after the U.S. District Court for the Eastern District of New York dismissed all claims against the only viable defendants.

If Live Well emerges from ongoing involuntary bankruptcy proceedings, and plaintiff Margaret Shakespeare can articulate a plausible claim against the reverse mortgage lender, the court will reopen proceedings, Judge Sandra J. Feuerstein said in one of three related orders issued Tuesday.

Each order adopted findings and recommendations made by Magistrate Judge Anne Y. Shields, without modification, dismissing claims ...