'They Destroyed Me.' How Wells Fargo Wrongly Forced Hundreds of Families to Sell Their Homes

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    • #8712
      eridani
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      • Total Posts: 6,518

      https://readersupportednews.org/news-section2/318-66/54265-they-destroyed-me-how-wells-fargo-wrongly-forced-hundreds-of-families-to-sell-their-homes

      Wells Fargo says an internal review found the bank denied help to hundreds of homeowners after fees charged by foreclosure attorneys were improperly used when the bank determined whom to offer mortgage help. The computer error began in 2010 and was not corrected until last April, the bank said.

      Overall, 870 homeowners were denied help for which they qualified, including 545 who lost their homes to foreclosure. Wells Fargo says it has reached most of the customers affected and set aside $8 million to compensate them, though industry analysts say that number is likely to increase.

      The revelation echoes the complaints of thousands of borrowers in the years after the financial crisis that banks were stingy about offering help with borrowers’ exploding loans.

      “Wells Fargo failed to maintain its systems, failed to find problems when they occurred and then masked the problem for years,” said Alys Cohen, staff attorney for the National Consumer Law Center

      Jesus: Hey, Dad? God: Yes, Son? Jesus: Western civilization followed me home. Can I keep it? God: Certainly not! And put it down this minute--you don't know where it's been! Tom Robbins in Another Roadside Attraction

    • #8717
      Joe Shlabotnik
      Participant
      • Total Posts: 865

      And likely decreasing.

      ~ All good things are Wild and Free ~

    • #8718
      Enthusiast
      Participant
      • Total Posts: 4,579

      The number of people wronged after the financial collapse of 2008 must number in the millions.

      I would like to remind you that U.S. health insurance companies do not contribute anything to health care. They are only a PARASITIC middle man receiving an undeserved cut of "FREE MONEY".

      Me

    • #8723
      Cold Mountain Trail
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      • Total Posts: 9,842
    • #8728
      elias39
      Participant
      • Total Posts: 5,073

      we (sometimes) give the survivors a couple hundred bucks for each little body.

      The largesse boggles my mind.

       

    • #8798
      sonofspy777
      Participant
      • Total Posts: 5,429

       stole our house in 2008.

      “Never argue with a fool, onlookers may not be able to tell the difference.”
      ~Samuel Clemens

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