Is Wells Fargo putting your financial future on hold? Contact us to learn more.
Wells Fargo allegedly put mortgage loans into forbearance and suspended payments on federally-backed loans without borrowers’ consent. This prevented many borrowers from being able to make payments on their federally backed mortgage loans. If this happened to you, please contact us at [email protected], (800) 776-6044, or by using the secure form on this page.
The Coronavirus Aid, Relief, and Economic Security Act (or “CARES Act”) allowed borrowers experiencing financial instability due to COVID-19 to request that their mortgages be put into forbearance, pausing payments without penalty. While these provisions can allow significant relief for those who need it, for borrowers who do wish to continue making payments on their mortgage as normal, having mortgages in forbearance against their wishes can be damaging to their financial health and future.
For example, with a mortgage in forbearance, borrowers cannot refinance, as most banks will not underwrite new loans for borrowers whose mortgage payments are suspended. And, with forbearance and non-payments noted on their credit reports, borrowers cannot take advantage of the low interest rates that have arisen from the pandemic. Wells Fargo could directly benefit from having its borrowers in forbearance, as those borrowers are not able to take their business elsewhere.
If Wells Fargo put your mortgage into forbearance without you requesting it, Keller Rohrback wants to hear from you. Please contact us at [email protected], (800) 776-6044, or by using the secure form on this page to learn more about your legal rights.
On August 26, 2020, Keller Rohrback filed a proposed class action complaint against Wells Fargo Bank, N.A. on behalf of Pamela Delpapa in the Northern District of California. The complaint alleges that Wells Fargo put Ms. Delpapa and other borrowers into forbearance without their consent. The complaint brings common law and statutory claims and seeks all available damages, fees, and costs.
About Keller Rohrback L.L.P.
Keller Rohrback, a leading consumer protection firm, was the first firm to bring a class action lawsuit against Wells Fargo Bank over its practice of opening unauthorized deposit and credit accounts. With offices in Seattle, Phoenix, New York, Santa Barbara, Oakland, and Missoula, Keller Rohrback serves as lead and co-lead counsel in class actions throughout the country. Our Complex Litigation Group is proud to offer its expertise to clients nationwide, and our trial lawyers have obtained judgments and settlements in excess of $23.25 billion.
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