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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.
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237 thoughts onWells Fargo Mortgage Modification Class Action Lawsuit
I have faxed and mailed all information for a modification countless times over that past 15 months Wells Fargo keeps telling me it has gone to underwriting then calls and wants the same information. I have jumped through hoops for them, ended up filing a chapter 13 and they are still trying to foreclose. In all my years I have never been treated so poorly and put up with so much the stress is affecting my health and well being! Unbelievable that we Americans put up with this….
How do I sign up to be part of this lawsuit???
Cannot even begin to tell you the hell that WF has put my family through for the last 3 1/2 years with their bullshit and lies. I reside in PA and would like information on lawsuits.
My husband and I were foreclosed in the middle of a loan modification in Arizona. How can we obtain info on lawsuits in AZ.
After 4 modifications and 4 years of faxing the same papers over and over. WF lowered our payment by 50.00. They weren’t willing to help even a little until after they had sucked us dry for everything we had. We have moved cross country now but our home is still in forclosure. We would love to receive info on how to be a part of this class action lawsuit. Lost everything because of WF. Please help me find out how to be a part of this lawsuit!!
My life and the life of my children have been turned upside down by these Criminals! For 4 years I have been in HELL. My husband was killed in March 2011 in a car accident. Wells Fargo is the cause of his death due to all the stress. All he wanted was to provide a home for his family and they would not work with us. To this day I’m still fighting! They are liers, and have filed false information with the court.
These stories sound to familiar Wells Fargo had me make the three trial payments then they turn me down saying I made to much money go figure I make to much money so they turn my modification down. I would like to know the attorneys who are handling the class action lawsuit against wells fargo. Need help ASAP
well fargo is a rip offffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff.did the hamp twice they asked for the papers three times ..after all the stree the denied me anyway only to make double payments to save my house instead of helping ..they suck ..wells fargo kiss my @@@
Same thing for us in Oregon…promises made for the HAMP program only to foreclose after two years of extreme stress; plus three times they refused cash offers for a quick sale . After they foreclosed WF sold it for the same price offered in short sale. Plz…how do we join this suit????? So much hate for Wells Fargo. How can they get away with the mid-representation of the government HAMP plan?
Due to loss of employment, I tried for 11/2 yrs to get the loan modification. I sent and resent the paper work in over and over and never heard anything until I wrote a letter stating how angry I was becoming., They finally sent me a modification of about 100.00. They kept (I know now on purpose) using my total amount of bills for my income and my income as my bills. So they just dropped it $100.00. I had a buyer for the home and they wanted a short sell for $2,000 and they would not work with me. That was the only person I had to make an offer on the home in over a yr. Actually, that was the only person who looked at it. I ended up letting them have it back because I was getting so stressed worring about it.
They sold the house for what was owed in about 4 months. I want in on this suit. Please help.
We started out 1 month behind with Wells Fargo and are now 2 years behind while they modify our loan and put us through mediation and refiling the same paperwork over and over. How do I get in on this lawsuit?? Please, any help is appreciated before we lose our house.