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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
If anyone on here has a loan through FHA and Wells Fargo holds your mortgage, call the FHA department and report any misrepresentations from Wells Fargo to them. I am doing this myself and am waiting on a call from a HUD representative to call me back. I went into a modification with Wells Fargo made my payments on time. I should have received the loan modification papers from them in February and never did. I recently filed bankruptcy and as soon as I did in April, they sent the loan modification papers to my attorney and said he had to file a motion with the Courts in order for me to get the modification papers from them. I was pissed so I called FHA and was told they could not do this so he transferred me to a representative from Wells Fargo to find out what was going on and if I did not like what they told me to call him back. Well when she finally finished her investigation, the excuse of due to volume of paper the papers did not go out to me. I called the person back at FHA and now I am waiting on a HUD representative to call. They will not get away with this. Big corporations try to screw the little people over, tired of getting screwed over by Wells Fargo. Good luck to all on here.
I don’t know if it’s too late but I got messed up by Wells Fargo and wanted to explore my options.
Please how do I join , I got screwed big time and lost my home!
Is this law suit still active? I have had a modification but had fees tacked on and an interest rate that continues to climb.
Id like to join this lawsuit please
Nosotros tambien tratamos de hacer una modificacion por mas de tres anos y nos tubieron ilucionando con pagarles lo que nos pedian y nosotros les cumplimos con todos los pagos, documentos y requisitos y solo fueron enganos porque nos hicieron perder el tiempo ya que al final nos dijeron que no eran aceptados. Son unos falsos y abusivos pero hay un Dios que hace justicia
i also had a modification for 6 months, they brought my payment from $640 to $590 under the mo after the 6 months and being on time with all 6 payments, they charged me $4,490 for the modification that never was. instead my payment has went up from 590 to 685. now they say i never did this. then why do i have all the paperwork and today 10/21/2015 i talked with them and they have no records of the mod, or my request to refinance my loan. currently at 6.25 on a fixed income in which wells fargo takes 3/4s of it. and again it went up next month they say $720. REALLY < i am going to sue the CEO of wells fargo and not the bank, seeing he gets our money in form of a year end bonus for ripping people off, no one is worth his bonus, 2014 WellsFargo CEO bonus $25,000,000. plus his wage, are you kidding me. gots to stop this man. i want to join this lawsuit. WE WILL WIN.
I need to be included in this suit. I was forced to claim bankruptcy to keep my home.
i would also like to join the lawsuit i was told that i would get a loan modification from wells fargo who drug theie feet for monts then i was denied and i appealed it and was denied after anotrher 5 months and was sent into bankruptcy to save our home from forclosure from wells fargo then they werent supose to contact me during the bankruptcy and they did several times threatened me that they were sending a sheriff to put bankruptcy papers on my home i know they violated the federal bankruptcy law do i have any recourse
I had home mortgage Wellsfargo since 2001, we had storm here in Michigan Aug 11th 2014, the home was not livable leaking roofs no eletricity due to water damage. I still paid my mortgage 2/28/2015 I lost my Mother and had to pay funeral expenses and got a 1 month behind I continue to make my monthly payment they told me they donot take partial payments. I needed pay the 1 month back payment and at the time I could not, So I tried to make arrangement to bring my account they told me they donot make payment arrangements, So I tried to do a Modification they requested proof income, residents ect. They put me through all that work and still foreclosed on my home I had for 30yrs on July 31,2015 and I’m very hurt because I comply to everthing. I had worked with them for over 3 months trying to save my home and they still forclosed my home it was to late to file bankrupcy and I still communicate with them until I recieved a letter telling me my home will be auction, It seem to me they did not care about the condition of the home it was terrible. I had been working trying to repair the home. The insurance company gave us the run around until I contacted FEMA who told me to contact Insurance company through wellsfargo and tell them I had PERLIS Insurance so they put a roof on the home it still had alot of other issues due to the storm and had to stay with my Mother until I got some help to fix the home as of today it still have issues that I can’t afford to fix I told wellsfargo about all the issue and still compassion. So I’m trying to find place to live. I’m trying to rent the home my Mother.
I have been battling wells fargo for months after they destroyed our credit from 780 to low 500`s saying because I was four days late back in march it broke the original agreement on loan. I have a first mtg of principle and interest only and a HELOC equity of principle and interest only total owing 470k and house worth about 350k and they wont help. problem is I was 4 days late in March called as soon as I realized and they took pmt over phone but kept hitting credit report for next 5 months after. I emailed states attorney office,I mailed letters to research dept of Wells fargo has made me physically ill over past month. I have read about 3000 consumer and BBB reviews of them being deceitful. I can not even get an attorney to call me back that’s willing to go up against wells fargo. I have talked to at least 6 people at wells fargo they never call back. ONE person called Friday 30 days later and said sorry they wont remove false credit report info. Now we are left with house underwater do not qualify for any modifications or HAMP loans and bad credit.So of course not even quicken loans will touch our mortgage due to credit report. I cant file bankruptcy or foreclosure because we have two new cars and one is a handicapped van for my daughter( I have twins with cerebral palsy) and the states are doing nothing to wells fargo for doing this to people. we can never buy anything. I don’t understand how they get away with this. even on one of the credit report agencies websites they have complaints on wells fargo…if anyone knows of any attorneys in Connecticut please email me.. pberghlegal@aol.com