Wells Fargo faces Class-Action lawsuit due to mortgage lending

May 27, 2010
By David M. Goldman on May 27, 2010 2:49 PM |

wells_fargo.gifWells Fargo, one of the nation's largest lenders, is facing a class-action lawsuit that could end up costing the company more than a billion dollars. The class-action lawsuit claims that Wells Fargo committed fraud and practiced predatory lending within their mortgage lending department. Wells Fargo allegedly deceived borrowers about the impact that their loan modification would have on their mortgage payments and their credit scores. Other claims included in the lawsuit include violations of the Truth in Lending Act (TILA) and the Fair Debt Collection Practices Act (FDCPA).

Violations of this type have a detrimental effect on many homeowners' ability to stay current on their mortgage payments. If you are facing a Florida Foreclosure Lawsuit due to the deceptive practices of your lender, contact a Florida Foreclosure Lawyer or a Jacksonville Foreclosure Lawyer for a consultation. A Florida Foreclosure Lawyer or Jacksonville Foreclosure Defense Lawyer will know your rights and will defend your rights.