In breaking news today reported in Banks lose important ruling on foreclosures the Massachusetts Supreme Judicial Court upheld a lower court ruling that helps people who have an underwater mortgage.
The foreclosure process used by Wells Fargo Bank and US Bancorp was stopped because they “lacked authority to foreclose.” They failed to show “that they were the holders of the mortgages at the time of foreclosure.”
If You’re In The Foreclosure Process Don’t Give Up
This means that if you have an underwater mortgage and are behind in your payments, the banks will have to be more cautious in the way they proceed to foreclose.
Make the bank prove that they have the legal paperwork supporting their right to foreclose before your give up your home to the bank in a foreclosure auction.
Take a look at our Mortgage Debt Reset Program to see how we approach similar situations.
Follow the Find Out More About Our Mortgage Debt Reset Program link and sign up to receive our free no obligation information package.
http://marketsurfer.blogspot.com/2010/12/wells-fargo-busted-for-overdraft-fee.html
this isn’t the first time wells fargo has been accused of funny business, remember the overdraft fee timing scandal??