Wells Fargo Faces Penalties in Foreclosure

Wells Fargo is currently being investigated by various governmental agencies with regard to illegal practices concerning mortgages and foreclosures. Wells Fargo has been accused of violating fair lending laws by the Security and Exchange Commission.

The company spokesman for Wells Fargo recently stated “with regard to the investigation into foreclosure practices, it is likely that one or more of the government enforcement actions against Wells Fargo will result in civil monetary penalties.” There are also more than half a dozen class action lawsuits pending against Wells Fargo on behalf of homeowners. These lawsuits claim that employees at Wells Fargo executed documents in foreclosure proceedings without having personal knowledge of the facts contained in these documents. The relief requested in the lawsuits against Wells Fargo asks for monitory damages, cancellation of mortgages and other penalties against the bank. Wells Fargo has indicated that they make be facing as much as $1.2 billion dollars in losses related to the pending litigation. This has caused the bank’s share price to go down.

New York Foreclosure Defense Attorney

If you are sued in a foreclosure proceeding, we can help you. The foreclosure defense lawyers at the Law Office of Elliot Schlissel have been assisting homeowners and consumers regarding lawsuits involving financial institutions for more than twenty years. We prepare mortgage modification applications on behalf of our clients. We assist our clients in dealing with mortgage modification programs that fail to provide our clients with the appropriate relief.

We defend our clients in foreclosure proceedings. We defend defective foreclosure lawsuits, defective mortgage issues, predatory lending, and bad faith by financial institutions. We maintain a foreclosure blog to update our clients and the general public concerning issues involving the banking industry, mortgages and foreclosures.

We represent our clients in real estate related litigation. In the appropriate situations we also file Chapter 7 bankruptcies and Chapter 13 bankruptcies on behalf of our clients. If bankruptcies are filed, we help our clients reestablish credit at the end of the bankruptcy procedures. If you need an attorney to stop a foreclosure or help you out of debt feel free to call us. Our office numbers are 1-800-344-6431, 516-561-6645 and 718-350-2802.

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We represent individuals throughout the New York Metropolitan area with divorce and child custody, personal injury, car accident, wrongful death, estate administration, nursing home and medicaid issues

The information you obtain at this website is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your particular legal issue. This is attorney advertising.

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