I hope you don’t think that Wells Fargo is any better ,, they just got caught (again) ... What was it now? Glad you asked..
People with mortgage life insurance ... they would die .. the mortgage life insurance would pay off the loan ,, but Wells Fargo , in the month or so after the insured’s death would tack on late pay and similar penalties... If the deceased’s heirs didn’t know about the insurance and request a “satisfaction of mortgage” , Wells Fargo would ... AFTER BEING PAID IN FULL BY THE INSURANCE ... file foreclosure based on a single months “late fee” that they tacked on after the insured’s death ...
This case cost Wells Fargo a cool $3million ,,, how many THOUSANDS more homes were stolen in this way before they got caught? And Will this change their behavior? It hasn’t so far... http://www.ncbrc.org/blog/2013/09/03/wells-fargo-socked-with-damages-in-excess-of-3-million-again/
Yes, a lot of banks are getting sleazier and trickier. They are scrambling and cheating in order to remain solvent in this O’Beconomy.
Desperate times call for desperate measures, and some people cannot resist the temptation to cross the line into criminal behavior.