A mortgage modification is a change to the terms of the promissory note, and the mortgage, as agreed to by the lender and the borrower. The mortgage modification agreement must be signed by both the lender and the borrower.
In a class action lawsuit Wells Fargo Bank is accused of secretly modifying mortgages without the knowledge or consent of borrowers. The plaintiffs allege that in some instances Wells Fargo unilaterally extended the term of mortgages up to forty (40) years, thereby causing the borrowers to pay additional (and un-agreed to) interest. The plaintiffs have asked the court to enjoin Wells Fargo from making mortgage loan changes without the approval of the borrowers.
The Law Offices Of Todd S. Frankenthal represents borrowers in lawsuits filed in Florida, including lawsuits filed in Broward County, Palm Beach County, and Miami-Dade County. If your mortgage was modified without your consent let us know so we can help.
See Also: Mortgage Modifications