Danielle Kelley, Esq. is getting corroboration on trial modifications from lawyers and other professionals assisting homeowners all over the country. She is bearing down hard on situations where the homeowner enters into the trial modification, complies with all the terms, and then is faced with a unilateral decision by the bank to foreclose anyway. Decisions are coming that have forced the banks to reconsider that position and lately there are other tricks being deployed — like refusing to put the modification offer in writing. Thus puts the homeowner in the position of paying money for nothing, which appears to be exactly what the banks want.
Here is what Darrel Blomberg in Arizona wrote to me this morning:
We all remember the Wigod v. Wells Fargo Bank N.A. (673 F.3d 547) case out of the Seventh Circuit. You know, the one where Wells Fargo had to fess up and honor a homeowner’s modification after the homeowner had agreed in writing to a trial loan modification offer and subsequently made all of the required payments.
Anyway, I’ve been helping an associate with his home loan assistance request with, none other than, Wells Fargo. After many months of doing the document and financial proctology dance with Wells Fargo, my associate had a success. Uh, of sorts.
Wells Fargo called him today with the details of his trial loan modification offer. (Did you catch that?)
We were on the call together with Mr. E. of Wells Fargo. Mr. E., his single point of contact (at least his third one) ran down the details of the trial loan modification offer. That’s fine and dandy. Here’s the killer. Mr. E. was asked when the trial loan modification offer would be sent to the homeowner in writing. My associate was informed that nothing would be sent out until my associate had completed his three trial payments.
I could see exactly where this was coming from. Wigod! So, this is Wells Fargo’s feeble attempt to make sure they can, without accountability, deny a defenseless homeowner their rightful modification because nothing has been reduced to writing.
Do you think you would ever be able to transact business orally with Wells Fargo at any of their branches?
My answer to him was this:
If you kept careful notes, then the fact of the matter is that you have been orally informed that the underwriting is complete. That is what the law says — if the offer is made it means the underwriting has been completed. Talk to Danielle Kelley about these details, whom I am copying on with this email. I think I would serve a letter demanding that the offer be sent in writing because in order to make the offer they had to complete the underwriting and that there would be no choice but to make the modification permanent after the trial payments were timely made. As to forcing them to put it in writing, I don’t know. They are obviously trying to get the trial payments and then keep their options open for foreclosure despite compliance by the borrower. The Courts are not liking that one bit.
NOTE: FOR MORE INFORMATION ON THIS, PLEASE SEND EMAIL TO neilFgarfield@hotmail.com.
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Filed under: CORRUPTION, evidence, expert witness, foreclosure, foreclosure defenses, GARFIELD KELLEY AND WHITE, Investor, MODIFICATION, Mortgage, Pleading, securities fraud, Servicer, TRUST BENEFICIARIES, trustee Tagged: | LOAN MODIFICATION, oral modification, trial modification, Wells Fargo