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The Straight Story

(48,121 posts) Fri Mar 7, 2014, 05:23 PM Mar 2014

Bank told to pay $3.2M for 'shocking' foreclosure

ALBUQUERQUE, N.M. (AP) — A New Mexico judge has issued a $3.2 million judgment against Wells Fargo for foreclosing on a man's home after his death, even though he had purchased an insurance policy through the bank that would have paid the remaining balance on his mortgage.

District Judge Beatrice Brickhouse said the bank's conduct was shocking and so reprehensible that in addition to actual damages, attorney's fees and court costs, she awarded James Dollens' estate $2.7 million in punitive damages.

Brickhouse issued the ruling Feb. 14. It was reported Friday by the Albuquerque Journal.

Jim Hines, a spokesman for San Francisco-based Wells Fargo, said the bank will appeal and it disagrees with several parts of the ruling, including the award of punitive damages.

http://www.thv11.com/story/money/business/2014/03/07/bank-pay-32m-for-foreclosure/6177645/

4 replies

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Bank told to pay $3.2M for 'shocking' foreclosure (Original Post) The Straight Story Mar 2014 OP

I hope they sue these pigs out of existence shenmue Mar 2014 #1

For any reporters or other interested parties seeking more information FrodosPet Mar 2014 #2

I know of a woman in Delaware, her father passed and she inherited his home. ms.smiler Mar 2014 #3

Shit, Wells will spend how much in legal fees, I wonder...? n/t TroglodyteScholar Mar 2014 #4

shenmue

(38,506 posts)

1. I hope they sue these pigs out of existence

Reply to The Straight Story (Original post)

Fri Mar 7, 2014, 05:24 PM

Mar 2014

Oh, the stories to tell.

FrodosPet

(5,169 posts)

2. For any reporters or other interested parties seeking more information

Reply to The Straight Story (Original post)

Fri Mar 7, 2014, 05:35 PM

Mar 2014

Wells Fargo spokesman Jim Hines can be reached at 515-213-4163.

https://www.wellsfargo.com/press/2012/20120509_BackgroundChecks

ms.smiler

(551 posts)

3. I know of a woman in Delaware, her father passed and she inherited his home.

Reply to The Straight Story (Original post)

Fri Mar 7, 2014, 08:22 PM

Mar 2014

She wants to keep the home and the balance on the mortgage was only $80,000 and she was prepared to pay off that mortgage. Bank of America refused the pay off money in favor of foreclosing and now she's fighting to keep the home she inherited.

No homeowner is safe from the banksters nor is any relative of a homeowner. The banksters foreclose on any property they wish. It doesn't matter if all payments were made, it doesn't matter if the property even has a mortgage. If the banksters want the property, they will attempt to steal it from the homeowners.

Home "ownership" is a temporary situation until such time as a bankster decides your home is next.

I've been researching mortgage/foreclosure/securities fraud for the past 5 years. I've also filed a lawsuit to strike my invalid mortgage and Assignments from the land records.

TroglodyteScholar

(5,477 posts)

4. Shit, Wells will spend how much in legal fees, I wonder...? n/t

Reply to The Straight Story (Original post)

Fri Mar 7, 2014, 08:49 PM

Mar 2014

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