Some homeowners do everything right, but mistakes by their bank cause them serious problems with their home. That's the case for a recent client of our firm who was approved for a trial loan modification, but her home was still sold at a foreclosure auction by Wells Fargo!
In August of 2016 a homeowner in Miami-Dade County, that I'll call Mrs. Thompson to protect her privacy, was approved for a HAMP trial loan modification by her lender, Wells Fargo. She had previously fallen behind on her payments, and being approved for a trial loan modification was exactly what she needed in order to avoid foreclosure and keep her home.
Normally being approved for a trial modification is the hard part about avoiding foreclosure because loan modification applications take a lot of work to complete and are frequently denied. But Mrs. Thompson was approved for a trial modification, so all she had to do was make her trial payments on time and move on with life, right? Not so fast.
