Wells Fargo dual tracking?

It’s like that all over the U.S. There is a case in Hawaii where they entered into appellate mediation, agreed to a modification, told the homeowner where to send the payments (a new servicer Homeward Residential) and then Homeward Residential refused the payments… Now Ocwen says the credit rating agency won’t allow any more modification for that trust. Such BS.

Justice League

Sandusky Register:

YOUR MORTGAGE LOAN HAS BEEN REFERRED TO OUR FIRM FOR FORECLOSURE

In a recent case, a homeowner whose loan is serviced by Wells Fargo presented a letter from a law firm which proclaimed at its beginning: “Your mortgage loan has been referred to us for foreclosure.”

Dated on the very same day, Wells Fargo sent the homeowner a financial package to complete in order to gain a mortgage workout. Since in our experience the loss mitigation or workout departments of mortgage servicers do not maintain communication with foreclosure counsel, it appears Wells Fargo has already decided to file foreclosure, even while it invites the homeowner to provide information designed to avoid it.

THE END RESULT

Of course the end result of this type of conduct is to put tremendous pressure on the poor homeowner to accept whatever sort of deal the mortgage company may want to offer, even a deal which may be built to fail.

Fortunately, this…

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