Wells Fargo foreclosed on homeowners who  had a chance to keep their homes

Wells Fargo & Co. foreclosed on 400 homeowners after improperly denying them loan modifications that could have allowed them to stay in their homes, the bank said in a regulatory filing Friday.

From 2010 to 2015, amid the recovery from the housing bust that caused millions of Americans to lose their homes, the bank made miscalculations when determining whether borrowers qualified for loan modifications.

That led the San Francisco bank to improperly deny modifications to 625 borrowers in the foreclosure process. The bank eventually completed foreclosure on about 400 of them, according to Friday’s filing — a revelation that could spark fresh anger over the bank’s practices.

The bank Wells Fargo said it has set aside $8 million to compensate customers, which works out to an average of $12,800 per borrower. Wells Fargo spokesman Tom Goyda said the bank has not disclosed how much individual borrowers will get.

DON'T LET THE BANKS TRICK YOU!

Get the FACTS & Evidence to win the legal remedy that you deserve today.

get-started-now

 

For information on foreclosure defense call us at 573-292-1280. We offer litigation support, admissible evidence, expert witness testimony, education, training, and support in all 50 states to attorneys and pro se homeowners.

Fraudstoppers PMA

Feel free to connect with us . . .

Address: Birch Tree MO 65438 Phone: 573-292-1280 Email: Info@FraudStoppers.org

 

 

Fraud Stoppers Logo

DISCLOSURE: NOTICE OF Copyright © 2017 FRAUD STOPPERS, FRAUD STOPPERS PMA. THIS SITE IS NOT INTENDED TO BE MISCONSTRUED AS LEGAL ADVICE. Legal Information is NOT Legal Advice: This site provides “information” that is only designed to help users safely cope with their own general legal needs. Legal information is NOT the same as legal advice — the application of law to an individual’s specific circumstances. FRAUD STOPPERS is a National Private Members Association (PMA). PLEASE TAKE NOTICE OF THE FOLLOWING MARS Disclosure[s] 12 C.F.R. 1015.: (1) FRAUD STOPPERS PMA is NOT Affiliated with any Government Agency or Any Bank Lender; (2) Even if YOU Accept any of  FRAUD STOPPERS PMA Products or Services Your Lender May Choose to NOT Change Your Loan.  FRAUD STOPPERS products and services are only available to Active Members of the FRAUD STOPPERS PRIVATE MEMBERS ASSOCIATION. To join FRAUD STOPPERS PMA click here: https://www.fraudstoppers.org/members-only/

Pin It on Pinterest

Share This