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A woman is suing Wells Fargo for predatory lending practices after she claims they made her false promises on loan modifications.
In 2003, Ann L. Koontz decided to purchase a home and responded to an online solicitation from the defendant, according to a complaint filed May 28 in Kanawha Circuit Court.
Wells Fargo advised Koontz that her total monthly payment would be $614, and that although the mortgage contained an adjustable interest rate, it would likely go down over time.
Koontz claims the interest rate instead, only increased over time.
Koontz claims the closing was rushed and hurried without a sufficient explanation of the loan documents and loan terms and that she learned at the closing that her monthly payments would be $700, but that it was too late to back out.
Read more from the WVRecord
