Tuesday, May 25, 2010

Couple Says They Followed All Bank Instructions Given At Lender-Sponsored, Traveling Loan Modification "Carnival Show" & Are Still Facing Foreclosure

In Phoenix, Arizona, KPHO-TV Channel 5 reports:
  • A Valley couple is about to lose their home to foreclosure and they claim their bank scammed them. Keven and Linda Harper, of Phoenix, said they were strung along by Wells Fargo Bank and promised a loan modification that never happened. Now, they said they're about to lose their home to foreclosure.

  • In September, the couple said they went to Wells Fargo's Loan Modification Workshop in downtown Phoenix.(1) The Harpers said they were promised a loan modification and told that all they'd have to do is go through a trial period, make their new lower payments on time and they'd be approved. "We did everything they asked," said Linda Harper.

  • According to the Harpers, they were told a few days ago that there would be no loan modification and they owed $9,200 in missed payments. They said they were also told if they didn't pay the amount in five days, the house would go into foreclosure. [...] A representative with Wells Fargo Bank told CBS 5 News they are looking into the Harpers' situation.

For the story, see Valley Couple Claims Bank Ran Scam (Couple: Promised Loan Modification Never Happened).

(1) Wells Fargo's traveling loan modification carnival show hit Miami Beach last weekend for a 3-day extravaganza.