Hundreds of Wells Fargo Customers Lose Their Homes to Foreclosure Due to Bank’s Mistakes and Aggressive Actions

Hundreds of Wells Fargo Customers Lose Their Homes to Foreclosure Due to Bank’s Mistakes and Aggressive Actions

Homeowners’ homes foreclosed on after Wells Fargo’s software incorrectly denied available mortgage modifications

News sources have revealed that more than 600 Wells Fargo customers were incorrectly denied loan modifications under a federal assistance program set up by the Treasury Department in 2009, with 400 of the owners ultimately losing their homes to bank foreclosure. The bank claims the loan adjustment denials were the result of a “computer error.” [Read more…]