Homeowners who are denied a modification under the Home Affordable Modification Program (HAMP) even after completing a trial period plan (TPP) have legal standing to sue their lender, the 9th U.S. Circuit Court of Appeals in San Francisco ruled Thursday.
The ruling reversed a lower district court dismissal that concluded Wells Fargo was not required to offer borrowers a modification if the bank did not send a signed modification agreement.
The ruling reversed a lower district court dismissal that concluded Wells Fargo was not required to offer borrowers a modification if the bank did not send a signed modification agreement.
The federal appeals court decision, however, ruled that Wells Fargo
actually was contractually required to offer the plaintiffs a permanent
mortgage modification since the plaintiffs submitted accurate financial
documents and completed their trial period plan.
“The panel held that the district court should not have dismissed the plaintiffs’ complaints when the record before it showed that the bank had accepted and retained the payments demanded by the TPP,” the court opinion stated.
The ruling was based on two lawsuits from borrowers who filed separate actions against Wells Fargo. In Corvello v. Wells Fargo Bank, NA and Lucia v. Wells Fargo Bank, NA, the plaintiffs alleged that the bank offered them a trial period plan with the promise of a permanent modification, but after they completed the trial, the bank did not offer them a permanent modification or send them a notification of ineligibility.
The panel in the federal appeals court also cited a prior case, Wigod v. Wells Fargo Bank, NA, in its ruling. In Wigod, the 7th Circuit Court of Appeals found Wells Fargo’s interpretation of the trial period plan could allow banks to avoid obligations to modify borrowers simply by deciding not to send a signed modification agreement even if the borrower submitted accurate financial documents and the required trial payments.
This Article is from the DSNew.com
If you have questions on this Program, please call me at 954-358-5911.
MY MISSION:
I am very passionate about helping consumers protect their rights, and my goal is to compassionately and passionately help people reorganize their debts, help them keep all or most of their property, save their homes from Foreclosure, stop wage garnishments, and assist people to “get a fresh financial start”. I am available to assist and advise you on how to rebuild your credit and buy the new house or start the new business that you always wanted to. This is a small law firm, and as such, can and does provide personal service, professional representation, and follow up. If you would like to learn
more about your options, contact me as soon as possible for a FREE INITIAL CONSULTATION so
that I can assist you through these difficult times. I also offer an affordable payment plan for legal fees.
Elias Leonard Dsouza, Esq.
"The best compliment you could ever give me is a referral."
A CONSUMER RIGHTS PROTECTION LAW FIRM
LIFE IS SHORT. GET RID OF DEBTS !!!
"Life is Short. Get Rid of Debts"
111 N. Pine Island Rd., Suite 205
Plantation, Florida 33324
Phone: 954-358-5911
Fax: 954-357-2267
www.DsouzaLegal.com
Skype: elias.leonard.dsouza
Skype: 954-762-7608
Http://Facebook.com/Elias.Leonard.Dsouza
Blog: http://dsouzalegal.blogspot.com
“The panel held that the district court should not have dismissed the plaintiffs’ complaints when the record before it showed that the bank had accepted and retained the payments demanded by the TPP,” the court opinion stated.
The ruling was based on two lawsuits from borrowers who filed separate actions against Wells Fargo. In Corvello v. Wells Fargo Bank, NA and Lucia v. Wells Fargo Bank, NA, the plaintiffs alleged that the bank offered them a trial period plan with the promise of a permanent modification, but after they completed the trial, the bank did not offer them a permanent modification or send them a notification of ineligibility.
The panel in the federal appeals court also cited a prior case, Wigod v. Wells Fargo Bank, NA, in its ruling. In Wigod, the 7th Circuit Court of Appeals found Wells Fargo’s interpretation of the trial period plan could allow banks to avoid obligations to modify borrowers simply by deciding not to send a signed modification agreement even if the borrower submitted accurate financial documents and the required trial payments.
This Article is from the DSNew.com
By: Esther Cho
Attorney Elias Leonard Dsouza concentrates his practice on Bankruptcy [Chapter 7, 13 & 11,] Foreclosure Defense, Defense of Credit Card Lawsuits, Credit Restoration, and Debt Settlement & Credit Counseling. Our office also handles complex Civil Litigation, Business & Corporate Transactions & Litigation, Employment Law, Collections, Creditor representation, Real estate transactions, Personal Injury, Family Law, Immigration, Landlord-Tenant law, Franchise Law, Tax Law and We Sue Debt Collectors under the Fair Debt Collection Practices.
If you have questions on this Program, please call me at 954-358-5911.
MY MISSION:
I am very passionate about helping consumers protect their rights, and my goal is to compassionately and passionately help people reorganize their debts, help them keep all or most of their property, save their homes from Foreclosure, stop wage garnishments, and assist people to “get a fresh financial start”. I am available to assist and advise you on how to rebuild your credit and buy the new house or start the new business that you always wanted to. This is a small law firm, and as such, can and does provide personal service, professional representation, and follow up. If you would like to learn
more about your options, contact me as soon as possible for a FREE INITIAL CONSULTATION so
that I can assist you through these difficult times. I also offer an affordable payment plan for legal fees.
Elias Leonard Dsouza, Esq.
"The best compliment you could ever give me is a referral."
A CONSUMER RIGHTS PROTECTION LAW FIRM
LIFE IS SHORT. GET RID OF DEBTS !!!
"Life is Short. Get Rid of Debts"
111 N. Pine Island Rd., Suite 205
Plantation, Florida 33324
Phone: 954-358-5911
Fax: 954-357-2267
www.DsouzaLegal.com
Skype: elias.leonard.dsouza
Skype: 954-762-7608
Http://Facebook.com/Elias.Leonard.Dsouza
Blog: http://dsouzalegal.blogspot.com
No comments:
Post a Comment