Homeowner cannot make the payments, Wells Fargo forecloses, homeowner leaves. Wells Fargo takes the house back.
No story there, 8 million foreclosures expected this year in the United States.
But then, Wells Fargo changes its mind, and sues the homeowner, asking the Court to make him take the house back.
Homeowner is broke, no surprise, cannot afford a lawyer, so Wells Fargo wins a default judment.
Sure sounds like those mortgage companies know what they are doing.
Yet try getting a loan modification or short sale approved.
Wells Fargo sued to get a house back in Detroit, but mortgage companies are walking away from homes all over.
Mortgage companies are changing their minds and stopping foreclosure sales.
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