Borrowers allegedly misled, defrauded
A new class action lawsuit against Wells Fargo claims that the bank illegally refused to grant permanent loan modifications promised to homeowners who successfully completed a trial mortgage modification under the Home Affordable Modification Program (HAMP). It was discovered that the $75 billion government funded program failed to grant permanent modifications nearly half of the time, which most consider a failure of the program which we have long called a colossal failure.
A new suit, filed in the U.S. District Court for the Northern District of California, has taken Wells Fargo to task for their role in failing to help the homeowners they and the government had promised those who successfully completed the trial would be granted. The suit claims that Wells Fargo violated California’s consumer protection laws by misrepresenting the terms of the HAMP trial period plans as well as breaches of contract.
As part of the plan, the suit alleges that Wells Fargo and borrowers agreed to a reduced mortgage payment for three months as a trial period to prove their ability to pay that new lowered amount, but despite that agreement, homeowners are claiming they were not granted a permanent loan modification, the entire point of the HAMP program.
Anatomy of an allegedly illegal modification denial
According to lawyers representing the plaintiff, Amira Jackmon bought her home in 2005, lost value in her home when the market crashed and was unable to refinance after being laid off. Wells Fargo offered a loan modification if she could make all payments on time under HAMP requirements; they signed the agreement and she made all payments on time and was then instructed to make four more months of payments at that rate. After the trial period ended in 2010, Wells Fargo allegedly told her that her request for a permanent modification was denied and the foreclosure process began. Her home was sold at a trustee sale in May of 2011.
The lawsuit claims the trial program 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.” The suit claims that Wells Fargo misled homeowners to the tune of several million dollars and they are seeking restitution of payments made and they seek to recover all other funds and property lost in connection with the alleged illegal activities of Wells Fargo.
“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 plaintiff’s lawyer said in a statement.
Haley
October 31, 2011 at 7:44 am
Oh dear, what will they think of next?! This kind of story is why OWS makes so much sense to me…I just hope they get something accomplished out there. They need goals!
denise
March 18, 2012 at 1:26 am
I need to know about the wells Fargol lawsuit I believe I might be a part of it.
Who would I contact?
Sedik
March 19, 2012 at 3:36 pm
I need contact name and number for Atty that is working on this case I have same situation. Please keep my name and email confidential.
Joveta Parker
March 23, 2012 at 3:37 pm
Wells fargo has done the same thing to me, I have all my paperwork to prove that they rec. all my documents to modifiy my loan . BUT they tried to use thier own tatics to by holding on to my paperwork for 5 months, asking for the same documents over and over again. there is so much more that i can prove that wells fargo has done . please keep me in, and formed I have contacted a lender who listen to my story and told me to contact an attorney i have not yet done so, I need to know who to call and how i can be a part of this CLASS ACTION LAW SUIT, the lender i spoke with also told me that i had grounds to sue Wells fargo for many things they did with my loan and modified, pls provide informTION ON who to contact for the lawsuit
Amy Jo
April 26, 2012 at 4:08 pm
Am going thru same S. with Wells FO now & wonder if you got any relief/help anywhere. you call me at home if feel like it 303.459.0566. I am ready to purchase assault weapons at this point & really don’t even have $$ for that… wondered if you got any help
usustarr
March 28, 2012 at 4:19 pm
Can some one tell me how to complain about Wells Fargo loan modification issues or how to join the class action law suite against them?
Donna
April 3, 2012 at 9:40 am
someone help they but me in a bad situation and I need help before they take my home.
Donna
April 3, 2012 at 9:46 am
I really need help,they misinformed me and now they will not let me make any payments.I need to get advise from someone trust worthy.I always paid my mortgage payments and now they want to take my house.
Donna
April 3, 2012 at 10:01 am
Can some one tell me how to complain about Wells Fargo loan modification issues or how to join the class action law suite against them?
Donna
April 4, 2012 at 8:51 am
did you find out who to contact please let me know
shelly
April 4, 2012 at 4:45 pm
I need to join this lawsuit! I’m in the middle of this loan modification nightmare! I have been doing everything they tell me to do and then they tell me it’s at the underwriters, when I call them a month later, they tell me it’s NOT at the underwriters! I’ve been screaming on the phone to them for giving me this nightmare! My next step is getting their MAIN financial address and going there PERSONALLY with all my documents and refuse to leave the building until they fix what they screwed up! I am not losing my house because they are frauds! I will fight tooth and nail! Did anyone get any information about this lawsuit?
Donna
April 5, 2012 at 8:11 am
I agree how come no one is answering us on what do do this is a nightmare can not even sleep at night what can we do
Donna
April 5, 2012 at 8:14 am
I have been on the phone almost every day and they are so laid back about about it I COULD CHOKE THEM!!!!!!!!!!!!!!!!!!! They put me in this situation and they do not care
shelly
April 5, 2012 at 5:38 pm
Just to let everyone know…I forced the Wells Fargo representatives into talking to me and forcing them to get moving on my load modification…I am also DOCUMENTING EVERY conversation, time, date, people! Also, when they tell you that you can’t make a payment, they are wrong! I flipped out on one of the head representatives and found out you can send a payment but by mail ONLY. I am going to go the extra mile and send it registered so they can’t say they didn’t get it! I also informed her of the lawsuits being filed against them! Of course they claim they don’t know about it…I told her to research it online! If they don’t have my documents to the underwriter’s by Monday, 4/9/12 I am taking time off from work to go to their main office in California and handcuffing myself to their office til they fix what they screwed up!
Yelling and screaming at them seems to get you a little farther…so get on the phone and give them hell!
Donna
April 9, 2012 at 10:49 am
Shelly,let me know how you make out I just sent an eamil to the CEO and 10 other head people.I told them if I do not get any response today I will be going to the media.Anyone out there that wants to join please respond
Donna
April 9, 2012 at 12:53 pm
Shelly contact the CEO,I just got a call from his office and they are taking over my case.I guess when I told them I would go to the news they woke up.I have the info if you need it.They are expediting it and will have answer in 3 days
shelly mountain
April 12, 2012 at 3:08 pm
So, did the CEO help any?
DONNA
April 13, 2012 at 7:54 am
Well the day I emailed the letter I got a call within an hour from a girl in his office who said she would be taking over my case,She sent me 15 more pages to fill out that was never sent to me with the first set of paperwork. I told her I never recieved these papers before.She replied that when we take over and expidite the process we make sure you have everything you need.I told her that is just another log in the fire,all those papers should come to us customers all at once.Just a way for them to prolong the process and go back and forth.She has called me everyday and it is in underwriting.If I do not have any answers by next week I will be going to the media.Anyone that wants to join me let me know the more people the better.I will go to every news station and news paper I am not playing around.
shelly mountain
April 15, 2012 at 3:10 pm
I’m with you on that one! Keep me posted!
DONNA
April 17, 2012 at 12:35 pm
HOW ARE YOU DOING SHELLY HAVE YOU HAD ANY LUCK YET?
shelly mountain
April 17, 2012 at 8:33 pm
Had to do my taxes today so my next call to them will be tomorrow. I’m soooo looking forward to that! LOL How’s it going on your end?
donna
April 18, 2012 at 8:56 am
well have not heard from them since thursday,called Friday and yesterday got voice mail left message.If I do not get a call by noon I will be sending the CEO another email.If this is not resolved by Friday I will be contacting all news stations and newspapers.They put me in this situation and I will not let them take my house.I am so peed off I could choke them.I can`t sleep right, worried all the time just waiting for those papers to come to my house.Let me know what happens today good luck
Kelly
May 7, 2012 at 5:04 pm
Shelly & Donna, I want to join this lawsuit, I have documented all the lies I was told over the phone and I have all the paperwiork I’ve sent in to “them”.
dani1984
May 30, 2012 at 11:33 pm
I DANIEL RODARTE WAS ALSO REFUSED A LOAN MODIFICATION NO PAPER WORK OR APPLICATION WAS REVIEWED EVEN THOUGH I LOST MY JOB WELLS FARGO DID NOT ATTEMPT TO HELP ME WITH MY HOME SITUATION.I WANT TO BE A PART OF THIS CLASS ACTION LAW SUIT
Sunshine50
August 6, 2012 at 5:42 pm
Hi, SOS…HELP…….I have been denied once again today from Wells Fargo. I have been trying to get a loan modification since February of 2010, yes 2010. They have strung me along like a puppet. I have done every thing they asked me to do(even sold a $33,000 paid for van for a $5,000 ford focus). I was not even late when I went to them. I just wanted a modification due to a divorce and I am 100% disabled. I have been willing to find a job (currently on SSDI) but every month, I apply for their latest and greatest “Programs” I get denied.
The HUD approved counselors I immediately went to in March 2010, said I can afford my home if they reduce the interest payment & make it a 40 yr loan. I agreed and have waited for them. Working full time for Wells Fargo Mortgage & filling out their forms, faxes, answering the phone, making calls and time on the phone. Every day, every week, every month….Not one day down.
Today they (the “Office of Executive Complaints” said to go “Short Sale” my home or “just do a Deed in Lieu”. OMG. They are taking a home away from me and 3 or my 4 children, which I built so that if my Spinal Bifida does get worse (am parallelized 85% fm waist down) and I have go back into a wheelchair, this hse will work for me since everything is on one level for myself. My children would still be upstairs. I am loosing the battle. My children and I have not slept right since February of 2010. We just want our home to stay our home, which I had built for us.
If anyone has a suggestion out there, email me at deborahoz@usa.com . I appreciate this moment to vent. I am in the State of Maryland. God knows how many more people Wells Fargo is pulling from their homes. Our foreclosure rate is increasing daily. What is Obama doing??? Anyone out there have an answer please tell me. I am so afraid of tomorrow. Freddie Mac owns me and Wells Fargo is my servicer. I am a minority (puerto rican, grandfather African American, a woman and disabled) I have put over 40 hrs a week into paperwork & faxes & calls for Wells Fargo Mortgage. Yes, I have already contacted the State’s Attorney Generals office about the class action suit. It does not apply to me since I am Freddie Mac owned. Now what??
Srbenoit56
August 10, 2012 at 2:37 pm
I was apart of this wells Fargo mess and I want justice I suffered pregnant for months
tntsmom
September 13, 2012 at 7:14 pm
My husband and I have been to h++ and back with Wells Fargo and it took TWO YEARS to get a modification and when we did our payment was $300 more a month than when we started. They have screwed our credit and I will go to any and all lengths to see justice done to them. We now tried to refinance with them and have been in the process since July and was told today September 13th that they will not be able to refinance us because they now need 2 months of bank statements without NSF. We were set to close October 1st per the paperwork we received and again got SCREWED!!!
Pierre Antoine
November 17, 2012 at 1:08 pm
I’m Pierre R. Antoine.In 2007, I applied for a loan modification from Wells Fargo. At that I had good credit,but was struggling to make my mortgage payments on time.As I never missed payments,I applied for loan modification. Upon to be qualified for, I was told to hold my mortgage payments up to six Months(6) My loan’s interest was 6.5% and Wells Fargo gave me an interest 5% after the loan modification was granted. In addition that, My home was on foreclosure, my credit score dropped and Had to pay all of late charges for missing payments.Moreover, I had to put down a lump sums in order to qualified for a new loan. Now, as I owe more than what my home worth, I applied for a loan modification to lower my mortgage which is 920.00 dollars a month,was denied because I already had one previously.So, in my situation ,I want to do.Furthermore, my loan term was 15 years, and I had left 7 years to pay off, to me I’m also a victim fro Wells Fargo Home Mortgage.
Orlando
June 8, 2016 at 6:24 pm
I lost value on my second home from 600k to 215k l called wells fargo to modify my loan at market value, I filled out paper work I faxed 3 tomes they claim did not get eventhow they were faxed from their own bank fax machine and i got confirmation. After months of waiting they denied the modification and was sold as a short sale for 215k. Before going into default I called for this modifications and I was told that I have to be 3 monts on default and in forclosure before they csn try to help me. I could have kept that house if it was refinance at 215k. Is there a class action law suit against this situation?