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Computer glitch hundreds lose their homes

Jazzy

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#1

Read Article--->Wells Fargo computer glitch blamed as hundreds lose their homes
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I'm confused. This guy waited over a year for an answer from the bank on a mortgage modification? Did they just stop making payments during this time? Maybe I am misunderstanding the situation but to me it seems like they had a full year to figure this situation out but instead just sat on their hands about it and WF screwed them over. Can someone explain this to me?
 
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I don't understand. The article says he found mold, tried to deal with it himself and then for some reason just stopped making payments. By the time he was foreclosed on he was a year behind in payments. He asked for a modified loan and they took too long doing it to save him from not losing the home.

He didn't make the payments and now is mad that they didn't give him a break quick enough for his tastes. Why did he completely stop making payments?
 

DrLeftover

"Today: Alchemy. Tomorrow: the World!"
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#4
just the tip of the proverbial iceberg.

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Wells Fargo clean-up plan rejected by Fed, Reuters reports
Published: Dec 6, 2018 11:04 a.m. ET

The Federal Reserve rejected a proposal from scandal-plagued Wells Fargo & Co.,WFC, -1.33% Reuters reported Thursday. In February, the bank was ordered to submit a reform plan to address customer abuses, and the Fed must approve it before the bank can grow its assets. Multiple sources told Reuters that Wells submitted a plan in April, but it was rejected. That also meant that the bank missed a September 30 deadline for the plan to be approved, implemented and reviewed by an independent third party. Although the Fed could have sanctioned the bank further, it instead granted Wells more time. Wells shares have lost more than 16% in the year to date.
https://www.marketwatch.com/story/w...an-rejected-by-fed-reuters-reports-2018-12-06

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