Two lawsuits filed yesterday in US District Court in Boston claim Wells Fargo and Bank of America have not followed federal rules for mortgage loan modifications, leaving some homeowners stuck in foreclosure “limbo.’’
According to one of the lawsuits, Wells Fargo Bank North America did not honor agreements with Wilfredo and Odalid Bosque of Leominster and Germano DePina of Roxbury that would have made their temporary loan modifications permanent through the US Treasury’s Home Affordable Modification Program.
In a second suit, Patricia Johnson of Salem alleged Bank of America Corp. did not abide by a similar arrangement that was intended to reduce her mortgage payments.
Read more from Boston.com
It kinda sucks to think that you need a lawyer to get your bank to work with you on a loan modification. I hate banks!
I am currently going crazy trying to battle Wells Fargo on home Modification Loan. Just need help because of lack of work for few months. Have been going round and round being lied to and put off for about 5 months now. Cant find anyone who cares other than all of us victims. I am losing money from work, have been to Dr. twice with heart problems and in more financial trouble the more I try to deal with them. I am once again waiting Agreement they say they sent but never comes until I cant possibly get mail to them on time. I have tried to comply but they sent money back. Long story, I just want to sue them and put a stop to these crooks but afraid is going to be to late to save home. I have had to unhook home phone due to constant calls from them when they don’t even know what is going on. Pure harassment. NICE JOB OBAMA!! HOW I WOULD LIKE TO TALK TO YOU!!!
Dude file chapter 13 or contact an attorney who does loan modifications, Thats the route i am taking tommorrow
I think a man should follow the law but Wells Fartgo isnt
so fight fire with fire they have been running me around in circles for months, put me on a remodification plan that i rejected in writing and they still havent told me what the plan is but they want 4600 dollars on the 29 of march which is supposed to be the final payment of the plan,.The funny thing is none of this plan i am on shows on my statement each month So I am not worried about doing what i should do anymore, instead i am going to rock their world now for about 3 months. But there are attorneys out there that will save your house.I was afraid to go this route you know chapter 13 is not what i want but i dont want wells fargo to have my house, now it is time for them to show up with answers.
PS go online setup to view your wells fargo account and look what they have been doing with the money u send them. On mine they put applied then they unapply it so i cant even figure out where they put my money
Been given the runaround by WF for months. Wife lost job end of 08 made three 1/2 payments put me in arrears about 1800.00. Then phone calls started. They pressed me into the mod program and were reducing my mortgage by 2 points, in reality it changed the payment by 140.00! Every 4 days or so i get mail from them with conflicting info. You dont qualify, your under consideration etc etc. Last statment says Im 6k in arrears and it has to be brought up to date or else. Called WF they say to disregard the notices and keep paying the reduced payment they said we will get it squared away eventually. These clowns cant get anything right and you cant get a straight answer from anyone who either knows what they are talking about or can get the job done. 25 billion of tax payer money to WF? for what gross incompetance and negligence. I hope every lawsuit filed breaks them in half.
I had a permanent loan mod from BofA since February and have made all payments scheduled, I have singed papers from BofaA showing the agreement but they have yet to enter the new amount into their computer. All the bills they send to me asks for a higher payment and when I make the modified payment they show that I am short. They sent me a notice to accelerate to foreclose if I don’t pay the past due amount by August. Do I have grounds for a lawsuit?
I applied for modification thru BOA and was told I was referred for making homes affordable. My home was auctioned the same day BOA sent me the modification packet to complete. I was told the sale date should have been postponed!
Wells Fargo gets billions from the federal government to help homeowners. But what they are doing is throwing families from their homes. They only help themselves by deciding what borrowers they want to keep and which ones they would prefer to purge from their system.
They care little about following the rules because they are so big and powerful they think the rules don’t apply to them.
If all homeowners who are under water or having financial challenges can’t get loan modifications, then WF only offers deals to the homeowners that really don’t need any help. This cleanses their system of all the bad loans on the brink of insolvency. Except these are families with children going through the most difficult time in their lives….and WF was given a LOT of money to help them.
WF only sees assets, but these are middle class families who are having real troubles and need help. WF isn’t helping them. They are sizing them up and purging them out.
Sue Wells Fargo in civil court and they will learn they can’t get away with it any more! Every homeowner that fails to fight them is a part of the problem. If we all sue them, they will surely learn to change their ways.
Report Wells Faro to your congressman! Find your local district representative and contact them with your story!
Write a formal complaint to FHA/FreddieMac/HUD/HAMP/RESPA and anyone else who will listen to you! CRY OUT! Tell them what laws they are violating and drag their butts into civil court!
It’s pathetic that the homeowners that no longer pay their mortgage according to a contract try to use the law to get the banks to make those loan modification permanent. The Government should not interfere in private contracts, the Government should not infuse cash into banks to bail them out, etc. and people need to grow up and understand what a contract means. If you can’t pay your mortgage, face the consequences.
My husband passed away 2 years ago.Only his name was on the bank note but we both are on deed.Wells Fargo said they would modify as i am working in Maine ,husband had work in NY and made alot more money.Have been to court 4 times,have had them send 2 assumption packages which i refused to sign because it is for the full 1765.00 and i can not afford that and all their other paperwork says they cant modify.They can not modify but can ALLOW me to assume the whole morgage!! Great bank.