Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.
A class of angry homeowners have filed a class action lawsuit against Wells Fargo claiming the banking giant illegally refused to grant permanent loan modifications it promised to give homeowners who successfully completed a trial mortgage modification under the Homeowner Affordable Modification Program (HAMP).
According to the Wells Fargo mortgage modification class action lawsuit, Wells Fargo committed breaches of contract and violated California consumer protection laws by misrepresenting the terms of the HAMP trial periods plans (TPP), designed to be a path toward a permanent mortgage modification.
The homeowners say they agreed to a reduced mortgage payment amount with Wells Fargo, subject to a three-month trial period to allow borrowers to prove their ability to meet the new obligation. Wells Fargo sent the borrowers letters explaining that if they “make those payments successfully and fulfill all the trial period conditions, we will permanently modify your mortgage loan.”
According to the class action lawsuit, however, this never happened — it was a ruse designed to induce consumers into sending payments to Wells Fargo, even when Wells Fargo knew that it had no intention of granting the permanent loan modification it promised.
“We believe Wells Fargo used the false promise of permanent modifications to extract millions of dollars in payments from its customers,” said one of the attorneys representing the homeowners. “We will prove in court that Wells Fargo’s operations turned a program designed to help homeowners into a revenue stream for the bank.”
The Wells Fargo HAMP class action lawsuit is seeking restitution of the payments homeowners made as part of the agreement, as well as to recover all other funds or property lost because of Wells Fargo’s alleged illegal activities.
ATTORNEY ADVERTISING
Top Class Actions is a Proud Member of the American Bar Association
LEGAL INFORMATION IS NOT LEGAL ADVICE
Top Class Actions Legal Statement
©2008 – 2024 Top Class Actions® LLC
Various Trademarks held by their respective owners
This website is not intended for viewing or usage by European Union citizens.
237 thoughts onWells Fargo Mortgage Modification Class Action Lawsuit
Please send me info on the loan modification c!ass action lawsuit and any other involving WF, NA; they are the worst bank
i have been turned down several times by wellsfargo for a loan modification 4 or 5 times after meeting all the qualifications that they asked for we were lied to by home persavation specialists about the modification and we were actually throan into chapter 13 to save our home i you could help that would be a blessing
want to join the lawsuit
I lost my home in 2011 because Wells Fargo did not assist me with a loan modification I applied for. Please send me information about joining the lawsuit.
Is this still going on? I was just in the hospital with a stroke and now find a letter from WFB regarding foreclosure. I was hoping they had somehow forgotten about us. No such luck. We went through three years of hassle with WFB and were finally turned down, but never officially. No letter or anything. Just suddenly put in foreclosure. I really do not think that is legal. Please respond. Thanks.
Who is the Settlement Administrator for this class action suite against Wells Fargo(Loan Modification)?
Please send us information on how to join this suite. Wells Fargo mistreated and mishandled our mortgage for many years. Please help.
I was railroaded by Wells Fargo also .Almost two years trying to work something out. I was put on a trial base of a lower payment, suppose to have been for 3 months but went for almost 6.Then I was sent a letter saying I did not qualify and I owed x amount of money are they were going to foreclose on me. Killed my credit score. I’m in Charleston S C, how do I put my name in the hat for a lawsuit?
I am looking for information on joining this class action suit.or starting our own suit on fraudulent tactics against home owners
How can I get more information about joining this class action suit.
I too am having issues with Wells Fargo please let me know if this action is still open