Advocating For Consumers In Bankruptcy Filings For More Than 25 Years

Bank forecloses on Florida father who is current on mortgage

On Behalf of | May 28, 2013 | Firm News, Home Foreclosure

Wells Fargo Bank is facing criticism after beginning foreclosure proceedings against an Orlando man who works as a bus driver to support his wife and three children. The man seems to have been the victim of improper foreclosure practices by the bank after they offered him a loan modification with highly restrictive terms.

In fact, the terms of the modification were so restrictive that the man ran into trouble when he paid more than was due before the statement date, according to a statement from the bank.

These types of confusing and deceptive lending practices were the subject of an investigation and settlement agreement by government regulators, which we have discussed previously on this blog.

The Florida bus driver told reporters that he was surprised and shocked when he received the notice of foreclosure since he had been working multiple jobs in order to stay current and make extra payments on his mortgage.

His confusion and shock was well-founded, since it is generally unexpected to receive a foreclosure notice when one is ahead on their payments. Most Florida readers would agree that this type of conduct along with other deceptive lending and collections practices by the bank are unacceptable.

Borrowers have a right to fair dealing from the bank and to have an opportunity to work out a new loan agreement if they are qualified to make modified payments. Those who cannot work out a new more manageable loan agreement also have the option of declaring bankruptcy in a way that allows them to keep the family home.


Source: WFTV, “Wells Fargo bank foreclosing on Orlando man who paid on time, early,” Kenneth Craig, May 16, 2013.

Our Blog