Wells Fargo facing allegation of wrongful foreclosure in Aptos home sale

After working in real estate for 15 years, Ron Ward is in the fight of his life, suing his lender, Wells Fargo Home Mortgage, for wrongful foreclosure to get back the dream house he built in Aptos. Full Story
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Fugly

Dublin, CA

#62 Dec 2, 2010
Joshua Epstein wrote:
<quoted text>
Rumour has it it's Bank of America.
There's a grassroots effort to crash JP Morgan by purchasing silver, since they shorted silver expecting the price to go down.
Consider a purchase.
You should see it up close and personal. They have what look like plastic cacti in the yard and it sticks out like a sore thumb in the neighborhood (not in a good way).

Check it out; you might be able to get it for a hair less than $1.5m.
Brigid

Santa Cruz, CA

#63 Dec 2, 2010
Telmark wrote:
The unfortunate truth regarding this issue is that the banks, as per the original loan agreements, are not required to give anyone a loan modification or loan refinance for any reason.
Some homeowners sign a forbearance agreement thinking that it is a loan modification. Forbearance agreements are not loan modifications. A forbearance agreement is when a lender allows a homeowner to miss monthly mortgage payments or pay adjusted monthly mortgage payments for a short period of time. The lender agrees to stop all foreclosure proceeding during this period which allows the homeowner time to recover from a temporary financial setback while keeping their home. This "grace" period also gives the homeowner and lender a chance to work out an agreeable loan modification.
Unfortunately, this couple did not qualify for the loan modification because their monthly income of $7,797 was not enough to cover their expenses of $8,870.
It seems that some homeowners continue to make the following mistakes:
1. They do not take the time to both read and understand the loan agreements that they sign.
2. They are unwilling or unable to understand their actual budget expenses.
3. They fail to understand that taking out a home loan is a long term financial risk that requires careful prior examination by the prospective buyer.
4. They fail to plan for unexpected, yet all to common, financial downturns.
This is condescending and insulting to those homeowners who HAVE read the fine print, DO understand what they're getting into, budget their money, and STILL are getting screwed by the banks. And believe me, there numbers are legion.
Telmark

Chico, CA

#65 Dec 2, 2010
1. Your original loan agreement, most likely, contained no provisions that guarantied a loan modification based on a drop in the housing market and/or the value of the house, job loss, or other financial issues with the borrower. You should have understood this when you signed the loan agreement.

2. Again, there are no "if, and, or buts" in a mortgage agreement. You either pay or you don't pay. If you pay, you keep the house. If you don't pay you risk losing the house. It's just that simple.

4. If you feel that you were wronged by your lender then, by all means, pursue it in a court of law.

There is, regardless of what you may think, nothing "condescending" or "insulting" about stating the obvious. You have the option of considering what I, and many others, are trying to say, or you can continue with what you're doing. Either way, I bid you well regardless of whether or not we agree on this issue.

BTW, just how are you "getting screwed" (by the banks) if you're keeping your end of the home loan agreement that you both read and understood when you signed it?

While you're at it, maybe you can answer the question directed to you in post # 50...

Brigid

Santa Cruz, CA

#66 Dec 2, 2010
Telmark wrote:
1. Your original loan agreement, most likely, contained no provisions that guarantied a loan modification based on a drop in the housing market and/or the value of the house, job loss, or other financial issues with the borrower. You should have understood this when you signed the loan agreement.
2. Again, there are no "if, and, or buts" in a mortgage agreement. You either pay or you don't pay. If you pay, you keep the house. If you don't pay you risk losing the house. It's just that simple.
4. If you feel that you were wronged by your lender then, by all means, pursue it in a court of law.
There is, regardless of what you may think, nothing "condescending" or "insulting" about stating the obvious. You have the option of considering what I, and many others, are trying to say, or you can continue with what you're doing. Either way, I bid you well regardless of whether or not we agree on this issue.
BTW, just how are you "getting screwed" (by the banks) if you're keeping your end of the home loan agreement that you both read and understood when you signed it?
While you're at it, maybe you can answer the question directed to you in post # 50...
This is not about me. I have 3 friends involved in this kind of a situation. If the banks were playing by the rules, I'd have no complaints. But they're not.
Brigid

Santa Cruz, CA

#67 Dec 2, 2010
Telmark wrote:

While you're at it, maybe you can answer the question directed to you in post # 50...
My response to #50 is at #64
Joshua Epstein

Santa Cruz, CA

#68 Dec 2, 2010
Graystash wrote:
Shame on Wells Fargo!! They are the WORST !!!! There Ads talk a good game about how community friendly they are but they will turn there back on you in a nano second. I have heard and seen just how friendly they are on SEVERAL occ.
DUMP WELLS FARGO MOVE YOUR MONEY TO A CREDIT UNION
Graystash
Wonderful advice.

In fact don't do business with any of the large banks.

Putting your cash into a local community credit union is the way to go.
Robert

Petaluma, CA

#69 Dec 2, 2010
Joshua Epstein wrote:
<quoted text>
Wonderful advice.
In fact don't do business with any of the large banks.
Putting your cash into a local community credit union is the way to go.
Unfortunately getting a home loan from your local credit union is not easy!
Telmark

Redding, CA

#70 Dec 3, 2010
Post #64 has, for some reason, been deleted Brigid.

As for your "this isn't about me" comment, all I have to say is that your "friends" probably wouldn't be facing foreclosure if they had stayed current with the original loan obligations that they agreed to.

BTW, how would your "friends" who are facing foreclosure feel if their bank/lender had demanded that they except an "after signing" loan modification that benefited them while housing prices were skyrocketing?

Ya, they'd all be very upset at just the thought of it now wouldn't they?

Quote:
"If the banks were playing by the rules, I'd have no complaints. But they're not."

Again, your "friends" would, most likely, not be facing foreclosure if they were "playing by the rules" as per the loan agreements that they signed. But they aren't now are they?
Lee H Barnes

Aransas Pass, TX

#71 Dec 4, 2010
Wells Fargo took over my loan a couple of years ago and insisted on my payment being increased to include taxes and insurance. For the past 5 yrs I had paid this separately from my mortgage and that kept my mortgage payments affordable. When I became delinquent, I received the "modify your payments" letters, when an agreement could not be met as to how to get my payments current after the "modification" period (they did NOT modify my payment). Wells Fargo wanted thousands of dollare up front, with no payment plan. I could not meet their requirements, they foreclosed on my home, bought it themselves, then resold the home for $7,000.00 less than my loan balance with them. This was the only home I had ever been able to buy in my entire life (I'm 70 now). They moved very quickly when they did this. I had no chance of keeping my home with their demands. Did not receive a message from them that home was to be sold, they just sent a realtor out to put up for sale signs in my yard.
Know it all

United States

#72 Dec 4, 2010
Amazing how it all seems so "hit and miss". Each person's experience with the banks is totally different. Do the banks even know what they're doing?
No they do NOT! It goes so against the grain of everything we knew. Banking, mortgages, credit cards, car loans .. they all seem to be at the whim of the day. Sickening!!!
WELLSFARGOSUCKS

Santa Cruz, CA

#73 Dec 5, 2010
From experience.

WELLS FARGO S U C K S.

WORST CUSTOMER SERVICE.

WELLS FARGO S U C K S.

THEY STEAL YOUR MONEY, looks like they trying for your house.

I would find out and publish the pictures, home address's, schools ect of the people in charge of your case.
Ring a Bell

United States

#74 Jan 22, 2011
Good luck! Judge Almquist is a real twerp and a corrupt politician! He cares nothing about the law and took judgeship to dodge a civil grand jury investigation for misconduct on the County Board of Supervisors!

Then, TWO judges, Akao and Danner DIE during elections which Alquist stood to gain from having no contenders.

If I were you I'd disqualify this judge and change venue completely out of the County if possible - especially if Federal Infringements were made.

Santa Cruz is considered "least affordable" part and partial that it is hostile to business, no government integrity for the law, mismanaged, malfeasant, and professional practices are generally pretty bad within the private sector as well.

Santa Cruz lives up to it's name. Maybe this foreclosure is a blessing in disguise and an exodus could be to the best interest for your family.
Hans

Hayward, CA

#75 Jan 24, 2011
Wrongful foreclosure is now a wide open field. It won't be long before the billboards start advertising free attorney assessments.

Title insurance is not always available now with the massive bank and Wall Street fraud. Buyer beware!
Cheryl

Pacific Grove, CA

#76 Jan 26, 2011
Why are we all so helpless against these institutions who hold our money and in many instances can do nebulous things with that money since we are unable speak to a person who can actually help us when we call! They make huge mistakes on our accounts or allow bogus charges to be put on cards and will NOT send us a record of the individual charge's location and vendor. THEN we can NEVER speak with a real person to clear up anything. I'm going stark raving mad trying to help my Mother with all 3 of these problems. I've sent letters to their legal departments....WHY don't we have watch dog entities over these much too powerful instutions?
One other thing...Why doesn't someone explain in complete detail where all that money we ( via the government) gave them.....They don't seem to be using it to help with the forclosure issues.
There must be a power that we can use to help ourselves with these growing assaults on our personal economic stability.
Buzz

Capitola, CA

#78 Jan 26, 2011
Cheryl wrote:
Why are we all so helpless against these institutions who hold our money .....
How much $$$ did your family contribute to either political party?
THE ELITE (the wealthy, corporations and politicians) take great care of themselves first and foremost. Who benefited most from the stimulus? The same lending institutions and speculators that caused the mess were in.

The US is not a democracy, but an oligarchy of the wealthy. The only way to change this would be voting out incumbents, outlawing lobbyists, and enacting serious election finance reforms which would allow people of modest means to compete. Unfortunately, I can't see this happening unless something happens to so outrage the electorate to act. Our distribution of wealth is on the way to a 3rd world model.
Reality Check

Hayward, CA

#79 Jun 12, 2013
Buzz wrote:
<quoted text>
How much $$$ did your family contribute to either political party?
THE ELITE (the wealthy, corporations and politicians) take great care of themselves first and foremost. Who benefited most from the stimulus? The same lending institutions and speculators that caused the mess were in.
The US is not a democracy, but an oligarchy of the wealthy. The only way to change this would be voting out incumbents, outlawing lobbyists, and enacting serious election finance reforms which would allow people of modest means to compete. Unfortunately, I can't see this happening unless something happens to so outrage the electorate to act. Our distribution of wealth is on the way to a 3rd world model.
This is the first and only sensible post I have ever read that Buzz posted, though he isn't like this anymore.

He's a bit of a wannabe rich person now, though it is obvious he is having some serious financial problems.
WooF got some sense

Santa Cruz, CA

#80 Jun 12, 2013
It's nice to hear WooF start talking like a man of the people. I guess although he is 1%, he now has 99% thoughts. That makes sense since now he gets Obama Bucks.

God Bless President Obama!
Sum Dim

Union City, CA

#81 Jun 12, 2013
WooF got some sense wrote:
It's nice to hear WooF start talking like a man of the people. I guess although he is 1%, he now has 99% thoughts. That makes sense since now he gets Obama Bucks.
God Bless President Obama!
It's interesting how quickly the TBSC trolls change when they fall from grace....

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