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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
my loan mod with Wells Fargo in 6/1/11 raised my pymt my $50.00 per mo this was not a loan mod can I be helped
Can I still join and who can I contact
How can I talk to an atoorney about this same thing, Wells Fargo foreclosed on me in Texas.
I have been through 2 loan modifications and on both the last payment made they said they did not receive. Sent them a letter from the bank showing it cashed on time on both occasions they still stated they did not receive it. Yesterday as I was getting ready to go through the 3rd home mod a locksmith showed up at the house and stating the house had been sold. I received a notice to cancel our sale on April 17th. So we could work out the home modification. However, they still sold the house. Wells Fargo is the worst bank and should have never been bailed out. If anyone knows of a class action lawsuit I can get on board with please let me know. I do understand the government gives the mortgage lenders (banks) $1500.00 per loan modification even if it is not completed. That is why they are doing this for the money.
How can I join this lawsuit? I am in Maryland. We applied for a loan modification with WF back in September 2009 and completed all the requirements for the trial period and made all payments on time for 6 months. After the three month trial period ended, we called them on a weekly basis to find out the status as we had not yet received the perminent modification. We were told to keep makeing payments every month on time. Finally the first week of April 2010, we received a letter stating that our modification had been denied by the “investors.” We attempted to find out more but they would not provide anymore information. A week later, we received a letter stating that we would have to pay approx 8k in past due payments or they would begin the Forclosure proceedings. My ex-husband and I had separated at the time so I attempted again to apply for a modification but was again denied. They sent several letters stating they had programs that could help us keep the house but then would deny our applications.We ended up filing Chapter 7 BK and had to include the house. The house was finally sold in February 2012 for half of what we paid back in 2006.
Please contact me to join this lawsuit. I am so mad I don’t have the words. I also received my HUGE check for $500.00 yesterday, I wanted to throw up! Now my home is gone, my husband died and I get slapped in the face again. Please contact me regarding getting on board for this lawsuit.
I need to know how to get in this lawsuit i have been going thru this hell for almost 4 years spent hundreds of dollars sending them proper paper work inn time for them to keep losing it out saying i filled something out wrong so i d resend it and they d say i signed it on the wrong side of the paper! I veprobably dealt with 6 or 7 different people one person did not exist in the company but didn’t figure tht out for months of me calling asking to speak to supervisors and no one knew who this person was or even if they were male or female. Had only the final payment to make they needed to send me a paper to sign but instead my person went on vacation and admitted to me she forgot to send it causing me to miss the deadline and getting kicked out the program. Had to start all over again that happened to me multiple times. To wrap things up in the very beginning i was behind 1 month payment called to see if i could just split the extra payment over a couple months i had a loss of income and they sold me on getting 3 mos behind so i could do a guaranteed loan modification tht would only take 3 months she made it seem like it d be a piece of cake. I’ve been nothing but stressed not knowing what’s next for me and my daughter i ve given up how of keeping my house. Please if someone can help. I have documented everything and all names. Thank you
I received a letter from the independent mortgage review stating I was eligible to receive 15 to 125 k from the WF fiasco. Picked up the mail yesterday and there it was……my check for 500 dollars. Apparently they can’t add either. Does anybody have any suggestions how to appeal this short of hiring an attorney and shelling out more ?
I tried to do a loan modification with WF after my husband passed away in 08. I qualified but WF sent the letter not to me at the address I provided but instead to my deceased in-laws home. By the time I realized my house was in foreclosure again. I begged the bank to move forward but they demanded large lump sum payments. I was advised by my then atty that the bank was foreclosing on home even when they made the lump sum payments. WF incouragaged me to file bankruptcy. I feared going homeless with my two children and refused to pay the lump sums. Then to add insult to injury Independent Review sent me a letter stating I was intitled to 125,000 due to the bank not making reasonable attempt to contact me. A couple of days ago I received a check for 800! It cost me more then that to consolidate our debt so I could keep our home. There is a lot more to the whole matter but I wish I could sue the bank. I’ve been looking for an Atty in CA.
I don’t even know where to begin our story but we just went through a similar nightmare with WF. After making our 3 trial payments and being told our loan was closing and to begin watch for paperwork that we needed to sign and overnight back to them….. the paperwork never came and we were never contacted in anyway as to why. We callled them several times, never able to speak to our assigned contact person, only to be told our loan mod had failed. We spent money on an attorney, after WF advised us to do so. We received a notice that the foreclosure case was dropped. It has now been 6 weeks since WF verbally told us our loan mod failed. They called me at 7:30 tonight, on the last business day of the month, asking for another payment right now so they could present it again to the underwriters……huh? We spent our money on the attor9ney, so with no notice we cannot make this payment “right now” this is just plain wrong and I don’t trust them anymore. Sad, we really wanted to save our home. I had cancer and could not work for 8another months is how it all started. I just don’t get it.