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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 was told a mod could not be done after HUD said that it could. After the process was started by adding me to the deed… WF said the mod could not be done again and set foreclosure date..after foreclosure they sent a letter and stated they foreclosed bc mod was not completed?? Lost our home!!
This happened to me!
How do I file a claim?
Me too! I need to speak with an attorney!
Want my money in full $165300
They treat you like a heard of cattle with tags in the ear ! We’re just another number to them ! Lost my place due to them also ! They need to pay everyone the full amount of money . Instead of the tigjt ass’s they are
After dragging out my modification for over a year, I was approved and told a notary would come to my home. When they didn’t, I called over an over, and then was told I had to reapply!….. First one took over a year, the second time took a week and a half, and I was told I was denied. There were no changes in income or anything else for me to be denied! We lost our home of 15 years! Wells Fargo needs to be stopped!
Wells Fargo took advantage of my wife while I was overseas. Told her to come in and sign paperwork after hours in their office. They modified the wording to link my business homes with my personal home which had been paid off for years. They did desk top appraisals and overpriced homes well above the market values. Then repossessed the 7 rental homes after I asked for the loan to be modified. They valued the rental properties at $650,000, I owed $312,000 on the properties. Wells Fargo sold properties for $168,000 and then said my balance was over $300,000 due to lawyer fees!!!! Now filed judgment to STEAL my personal home to auction off. I can honestly say, I hate Wells Fargo!!!!!
They sent a notary to my home in 2011 to mislead me to sign papers that were not the HAMP I applied for. i too am still foghting Wells Fargo in Court for adding $40k in a predatory modification scheme. They stole far more from you than me. But the similarities are We had equity and they stole it with unfair and deceptive tactics. Im still in my home and they hold all the cards while the jidge is baffled by what is actually taking place. He said off the record he doesnt thing tjere is any fraud. Yet he told wells Fargo to to remove $40k from my mortgage balance. These crooks are getting away with racketeering and even the lawyers with class action lawsuits are looking to make money in settlements rather that get justice for criminal racketeering
Wells Fargo stole my home AND took my excess proceeds in 2016, and Ive been dealing with a 420 credit score ever since. I paid my mortgage for 10 years and was NEVER a day late. My Ex filed BK7 and they refused my request for modification. I tried to get in a class action suit but the lawyer assistant said my case needs specific attention- it was more then just a computer glitch. Can ANYONE help me?
I have the same problem. I feel my only course is to file a lawsuit against Wells Fargo in Federal Court Stating causes of unsound buisiness practices that substatiate fraud.
We were negotiating a loan modification with WF up until Feb. 2017 and we were close to a settlement. They kept dragging it out month after month and then set a sale date and so I had to do a Chapter 13 to prevent sale. I have been making the Chapter 13 payments. We still owe about $85,000, almost all of it to WF. If we got the modification we were going for that would probably be put on the end of the loan and the interest would be lowered to something affordable. The house is worth about $1.4 – $1.5 million. We owe about $815,000. Is anyone interested in suing them or getting them to do the modification?
Yes yes
i was also lied to by wells Fargo and was told my only choice was foreclosure or short sale and i had to put our home on the market and sale it, it was my wife’s dream home. can anyone help us?
I too was lied to by wells fargo when I asked for a modification on my loan. I had to pay 250 a month then after six months they would remodify my loan. When the six months was here they said they couldn’t help me and I lost my house that my husband of 17 years past away in. It felt like I lost my husband all over again.