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Mortgage borrowers who allege past loan-modification errors at Wells Fargo led to unnecessary foreclosures and unjustly hurt their credit histories filed a new putative class action in federal district court this month.
Fourth Missed Mortgage Payment By the fifth missed payment, foreclosure proceedings are usually underway. In California, you may get a notice of trustees sale, which puts your property on the auction block. This is the last stage where you can do something and save your home.
Consumers were illegally assessed fees and interest charges on auto and mortgage loans, had their cars wrongly repossessed, and had payments to auto and mortgage loans misapplied by the bank.
Wells Fargo to pay $3.7 billion settling charges it wrongfully seized homes and cars The case marks the largest penalty ever imposed by the federal watchdog agency the Consumer Financial Protection Bureau. Customers who were harmed will receive $2 billion in restitution.
The Homebuyer Access Grant℠ may help customers purchase a home by providing a $10,000 grant for a down payment, subject to eligibility requirements. Grant funds cannot be used in connection with the financing of a Wells Fargo real estate owned (REO) property purchase.
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The Wells Fargo settlement benefits individuals and businesses in California who received a phone call from The Credit Wholesale Co. Inc. between Oct. 22, 2014 and Nov. 17, 2023. Potential Individual Reward: $86 per eligible call and up to $5,000 per call depending on the number of claims submitted.
Wells Fargo bank account deposits are FDIC insured up to $250,000, or $500,000 for joint accounts. This means your money is safe even if Wells Fargo were to shut down.

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