Las Vegas Family Loses Home to Foreclosure Over $39 Fee, Despite Being Otherwise Current On Loan Modification Agreement With Lender

In Las Vegas, Nevada, KVBC-TV Channel 3 reports:

• "Your house has been sold based on the fact you failed to send a $39 contribution. We figured by you not sending that, you didn't want to stay in the house."

• That's what American Servicing Company, a division of Wells Fargo, told David Zepeda earlier this month. That conversation came after a notice of new ownership was taped to his door telling him, his wife, and his two children that their home had been sold May 8.

In April, the Zepedas reportedly signed a loan modification agreement that called for:

• The bank lowered the interest rate on the loan, which totaled $280,000,
• It gave them a fixed rate of five percent for 30 years,
• To get the modification, they had to make five payments of $1,500, which was done,
• The new, lower mortgage payment - according to the signed agreement - wasn't due until June 1.

However, the house was sold May 8. According to the homeowner, Wells Fargo reportedly told him its trying to rescind the foreclosure sale of his home to Deutsche Bank.

For more, see Did family lose house over $39?