20 February 2010

How a young lawyer saved a family from foreclosure

Underemployed recent law school graduate opens up can of whup-ass on Wells Fargo over a family's stated-income loan, wins:
There is a trustee sale date scheduled for August 25, 2009. The borrower has already submitted a viable loan-modification package that was confirmed as received. The borrower was informed that his loan modification application was denied on August 14, 2009 because his expenses exceeded his income. This conclusion is blatantly incorrect based on the information provided, which shows the client—with the financial assistance of his domestic partner—made an income that is above his current expenses. This denial, based on an inaccurate assessment of the documents, represents either gross incompetence on the part of the Wells Fargo loan-modification department or a fraudulent misrepresentation in order to deny a viable client a suitable loan modification. The borrower is now re-sending a loan modification package with all the appropriate information requested.
Your feel-good story of the week.

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