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Wells Fargo Deceptive Mortgage Modifications Class Action Lawsuit
By Mike Holter
Wells Fargo is facing a class action lawsuit from struggling homeowners, who say the bank lied to them about being able to receive permanent loan modifications.The Wells Fargo class action lawsuit was filed by a Kansas City couple, who say the bank offered temporary mortgage modifications with no intention of making them permanent. The couple alleges in the class action lawsuit that Wells Fargo allowed them to make lower mortgage payments multiple times, only to later inform them that the mortgage was in default and that the bank would foreclose on their home.
Wells Fargo is already on the hook for foreclosure abuse charges. It is one of four other banks participating in the historic national mortgage settlement, which will provide nearly $25 billion in relief to struggling homeowners.
A federal judge dismissed some of the class action lawsuit’s claims last week for breach of contract and debt collection violations, but allowed their unfair competition claims to remain. The judge gave the Plaintiffs permission to amend their complaint to allege damages from the bank’s alleged breach of contract.
The Wells Fargo loan modification class action lawsuit is brought on behalf of all homeowners nationwide who received a trial loan modification proposal substantially similar to the TPP (Home Affordable Modification Program Trial Period) from Wells Fargo; made the payments set forth in the proposal; and were either (a) denied a permanent loan modification; (b) offered an illusory “modification” on terms substantially similar to their unmodified loan; and/or (c) who received, entered into, and complied with a Forbearance Plan from Wells Fargo.
The case is Vicki and Richard Sutcliffe v. Wells Fargo Bank, N.A., et al., Case No. 11-cv-06595 JCS, U.S. District Court, Northern District of California.
Updated May 15th, 2012
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173 thoughts onWells Fargo Deceptive Mortgage Modifications Class Action Lawsuit
I NEED HELP WELLS FARGO WILL NOT HELP THEY FORCLOSED ON ME IN APRIL SAID I DIDNT QUALIFY FOR MODIFICATION . NOW IM HOMELESS PLEASE HELP
Call 1-800-853-8516
You are telling victims to call Wells Fargo. I am reporting this the the US Attorney General to investigate
Wells Fargo led me down a very confusing path, all the time claiming they were working on my HAMP Refinance loan, making me jump through hoops, changing the rules, and making demands that were ridiculous and very frustrating. They sent me a contract, which I sent back the first time explaining I couldn’t pay the amount they wanted, and the sent me another one, with adjustments, which I signed and sent it right back. They gave me an address to send the payment to but the first time I sent my payment in they sent a note back telling me I sent it to the wrong place, I sent it to the exact place they told me to.
This is a good example of the stuff WF tries to pull when they do not want to do the Loan Mod…….I work with an attorney gathering the docs for the borrowers…….we are resubmitting one for a fellow in Largo Florida…..he has
3 jobs and his fiance has 1…they are totally qualified financially even with 3 of the 4 jobs……but WF says that one of the jobs is not quaranteed “permanent” income……..this is the punchline……he is an umpire for a girls baseball team and gives him 1000.00 a month income…….he has been with them for 17 years and produced a schedule of games from now until 12-19-18′ but WF says it is not guaranteed. Unbelievable !!!
My home foreclosed after Wells Fargo told me to stop making payments as I had to be 90 days behind to qualify for modification which would reduce the principal & lower my payments. When it came time to sign docs I was told I did NOT have enough monthly income to qualify for the loan
(that was less than the loan I already had). My six children & I were homeless for months after losing our home of 12 years. Our lives have never been stable since then. Wells Fargo informed me there was nothing I could do to save my home other than pay the 3 months payments I hadnt made by their instructions! While there’s not enough money in the world that can reverse the damage to my family, I’m trying to find out if my mortgage was one of the “computer glitches” that was erroneously denied a modification resulting in foreclosure.
I had the same experience!
I have had the same experience there needs to be a class action we need restitution
Me too!! They’re looking at my file now!! I took it upon myself to call them. Here’s the number you guys can all regarding the modification Glitch! 1-800-853-8516.
They have been keeping in touch with updates, which is basically “No Answer” on my file yet, however I have documentation around that time, and letters and email of my denial! SO We Shall see! Has anyone received “Good News” about their case??
It’s no computer glitch. Its systematic fraud and racketeering. They are lying about the comiter glitch. They intentionally lied and deceibed people to cheat them out of modifications they should have received
I’m looking for a WFHM class action suit. We tried unsuccessfully for two years trying to have our loan modified. WFHM made up false figures to qualify me, then said our loan was delinquent. I ordered a loan history to prove that I NEVER even had a late fee. Then a young man from WFHM suggested that I stop making the payments, he said that they do work with people that have stopped making their payments, I believed him. They filed foreclosure, so I put our home on the market as a short sale. It was an all cash buyer, and it took WFHM three months to decide if they would take the short sale. HERE’S THE SHOCKER! About five weeks after the short sale closing, we received a statement from them that they not only APPROVED our Loan Modification but they REDUCED our principal balance as well. When I called they claimed “Computer Glitch” and here it is five years later and they are playing the “Computer Glitch” card.
I fought for over a year, had a four foot pile of paperwork to no avail. They still for closed on my home. I was never late on a payment for over 16 years!
Unbelievable. My x wife file bankruptcy on house we had, i kept house. Did loan modification, wells fargo said thats all i had to do so i could keep house. They foreclosed on it, had to move.
How do you file a claim with Wells Fargo
Please help me!
Call 1-800-853-8516
Help me!
I would like to know also!
Call 18008538516
I was devastated in Feb 2013 when just two months prior I had been working with WF on a loan modification and then received notice I was in foreclosure. I was confused at how two months changed so rapidly. I was annoyed back then and had no other choice than to list my home (as a short sale). It sold in Dec 2013. I haven’t thought about this until I heard the news earlier this month and realized my mortgage (and my livelihood) was affecting by a computer glitch! I was a first time homebuyer and after this experience, it had left quite a scar that I never want a mortgage again! :-(
I filed bankruptcy and the conference of the sale of my home/property was immediately stopped. I qualified for a loan modification and flied. While in the process of the modification Wells Fargo went ahead with the confirmation of sale. When I called NO ONE could explain to me why this act was done. I lost the property and I am at a BLANK to this day. This happened this February 2018. I’m searching for The false modification Wells Fargo lawsuit of 2018! Can someone please help me?
That happened to us too. How do I file a claim??
I also tried the loan modification program, the representatives talked circles around me. I would get approved for the modification but they only knocked off $200. 00 off my mortgage payment. I would pay the amount they told me which was $1100.00 my original mortgage was $1300.00 a month. I made the new payment amount on time, and within two weeks they would call me harassing me for the other $200.00 threatening me with every call that they would foreclose on my home if I didn’t pay. I would go through the entire story, how I just lost my job, I was approved for the loan modification and that I should pay the $1100.00 not the $1300.00 and they would scream, and threaten me. They would call many times a day with all their threats and yelling at me, I ended up putting my home up for a short sale, I lost everything, my kids had to go live with their dad. I’d like to know how I can get information on how to be a part of this class action suit. Thank you
I was in a loan modification process, than it turned to a short sale while I was in the process of the short sale Wells Fargo started foreclosure just in case the house didn’t sell! it sold with in 10 days….my realtor couldn’t believe the house was going into foreclosure, because it was listed as a short sale.
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I Went through a loan modification where they increased my payment versus decrease I paid it for the term plus an additional month and never received a permanent loan mod. It appears they had no intention on giving me the loan modification. I then went through a short sale process had an offer before we could finalize the terms they sold the loan to another lender and then had to restart the entire process causing me to lose the buyer and ultimately my home
This is similar to what they did to me. Applied for modification..they increased my payment. He told me well maybe giving me the month off of payment would help- as I was trying to explain..we can’t afford the payment we have now..why would I be able to afford a higher payment?! We were able to sell before it came to them foreclosing but it has put my family of 8 in a terrible situation.