My Mortgage Lender Foreclosed on Our House in Error

Question:

Dear Steve,

Did deed in lieu before I realized class action was happening.

I deed a did in lieu. I could not afford an attorney, and I was not getting anywhere with the lender on my own.

I found out class action was filed against my lender. They foreclosed on many people, and none of us were in default. However, we all were denied modifications—a glitch in their system. I cannot get the lender or servicing company to remove negative information from my credit report.

They are even not being honest about dates. It was 2013 they have 2017. So wrong. What do I do?

KC

Answer:

Dear KC,

I think your lender may have been Wells Fargo. If so, I’m not sure which class-action suit you are referring to. There is more than one. You should contact the law firm dealing with this without delay.

One of the class-action suit handled in this case requires claim forms to be submitted by October 25, 2021.

To be eligible for inclusion, in that case, you would have to meet the following terms:

“All persons in the United States who between 2010 and 2018 (i) qualified for a home loan modification or repayment plan pursuant to the requirements of government-sponsored enterprises (such as Fannie Mae and Freddie Mac), the Federal Housing Administration (FHA), the U.S. Department of Treasury’s Home Affordable Modification Program (HAMP); (ii) were not offered a home loan modification or repayment plan by Wells Fargo due to excessive attorney’s fees being included in the loan modification decisioning process; (iii) whose home Wells Fargo sold in foreclosure; and (iv) were not part of the Hernandez I Settlement.”

I don’t know what state you live in, but here are consumer attorneys that specialize in mortgage-related issues.

If you are part of a larger group and the issue is well documented, I think you will find an easier time to get an attorney to consider representing you on a contingency.

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The adverse credit report history should be removed once it can be demonstrated that you were part of the group of people foreclosed on in error. Honestly, you will not get the proper attention from the lender unless an attorney represents you.

Sincerly,


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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Steve Rhode

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