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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 opened my mortgage with Wells Fargo in 2003. Wanted to modify in 2010 after a divorce. They told me I had to be behind before I qualified and then they could modify! I went back and forth with them for FOUR years. I QUALIFIED and they would never modify. I gave up in 2014. I owed 108k and WANTED to KEEP my house and would have done anything to save our home. They foreclosed and sold my home for 74k. I had just put 10k in updates. My children and I lost everything. All they had to do was modify. How do I join the lawsuit?
I too am interested in the Wells Fargo denial of loan modifications. My husband was a Veteran during his illness which he later died from. I called to get loan modification. They wouldn’t talk to me because I wasn’t the Veteran. He died during these back and forth letters. The following month I called to get loan number so I could make payments. WF refused to give me the loan number so I could make payment saying I was not the Vet. I sent marriage license, death certificate several times. I found the number and paid as long as I could, losing my home in the end. It was hard to lose a husband of 11 years and my home.
Where do we file for this? We lost our family home after believing wells Fargo was going to do a loan modification for us . we did all the paperwork, received an approval letter only to be told after the fact they didn’t like how it was notarized! The home we raised our family in was stolen from us.
A re-fi took nine months. None of the delay was because of us. Great credit, submitted docs etc. Always a different excuse from Kori at WF. Should have bailed but we hung in there, it was so perplexing why it would take so long…Now I realize they were blowing the rate lock in an effort to charge us more money. Disgusting! Got a re-fi on another property in December of 2017 with JD Wentworth. It closed in 27 days!
Will they contact us!
Wells Fargo put lien on my house for 8,000. After modification, found out when trying to sell my home after having it 6 years. I understood I couldn’t sell for 3 years. How do they get away with this? My house wouldn’t appraise for enough to cover the lien too, they did not care I had a buyer approved and ready to buy it. It’s ridiculous they get away with this and ruining people’s credit. How do I file class action lawsuit? 2010 – 2016
Applied for a modification twice was told no first time only owed 20k was told to do short sale or deed in lieu. I’m disabled I finally got a modification after agreeing to it I got a reverse mortgage from AAG PAID OFF WFHM They sent me a check for over payment which doesn’t add up been fighting with them since. What a creepy bunch
Same problem and then some. How can I join
How can join the lawsuit? The same thing happen to me
The case is still moving through the courts and has not yet reached a settlement. Claim forms are usually not made available to consumers until after a court approved settlement is reached. Setting up a free account with Top Class Actions will allow you to receive instant updates on ANY article that you ‘Follow’ on our website. A link to creating an account may be found here: https://topclassactions.com/signup/. You can then ‘Follow’ the article above, and get notified immediately when we post updates!
Same issue and would like to join the lawsuit how can I join???????
The case is still moving through the courts and has not yet reached a settlement. Claim forms are usually not made available to consumers until after a court approved settlement is reached. Setting up a free account with Top Class Actions will allow you to receive instant updates on ANY article that you ‘Follow’ on our website. A link to creating an account may be found here: https://topclassactions.com/signup/. You can then ‘Follow’ the article above, and get notified immediately when we post updates!
Same issue and would like to join the lawsuit how can I join
Is the class action suit closed? I should of done something back in 2008-2010 after a surgery caused me permanent nerve damage I was unable to work at a job that I not only loved in healthcare but just received a huge raise. Since I was non union the company paid for us to have a disability plan that paid us 69% of our salary. But then after Cobra was expired which was 800.00 a month I tried depersertely to get a home modification my home was valued at around 380.00 a few years before, but they are townhomes/ garages are connected but still have front yards. I totally remodeled my little 850 sq foot home and owed a mortgage plus had a line of credit of 32k. The banks were foreclosing on people & homes like mine were being auctioned off for 60k. I just lost my job, a small business that I invested in with my daughter & my health. I felt like I could not move as my doctors were all close by & and at the time was very ill. I called, I filled out one application after another. I have been with this bank since 1986 & not once had I bounced a check nor missed a house payment. Friends who banked with Wells Fargo were getting 100-150k written off. Because I refused to play the game of not paying late or missing three payments as at the time I could not lose one more thing I hired an attorney for 4K who guaranteed me he would get my modification done& line of credit or my money would be retuned. Lol! Didn’t read small print that said if you miss a phone call & do not respond contract is null & void. I do not know how to play games, have always played fair. I had no husband or other income. So Wells Fargo said attorneys didn’t return calls attorney reps who I must of had 10 said Wells Fargo never retuned. I had boxes of paper work that I was trying to do while I was getting diagnosed & numerous physicians. So never did get my modification nor my money back. Wells Fargo did call me 5 years later & offered to give me a lower intrest rate which I was thankful for, but I lost so much money all because I have a strong ethical right and wrong sense. I still have my little house, California has raised my taxes and our electricity has tripled in last three months. I suppose this is to pay for all those here illegally or for profits. I did get a new loan with a different lender as I felt they had taken enough from me. I am going to close my account with them too, 10 years later & I will never forget how they treated me when I was sick and down! But I never even had one late payment. Karma has never worked for me in business deals…but I am still alive.