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Homeowners Hoping to Avoid Foreclosures As Wells Fargo Refiles



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By : John Cutts    99 or more times read
A number of Maryland homeowners are hoping that they can avoid foreclosures as a number of cases handled by Wells Fargo & Co. get dismissed and restarted this year. News have emerged that the lender is restarting or dismissing foreclosure cases in the region as lawyers representing borrowers are said to be set to request the dismissal of cases associated with alleged faulty documents.

According to state reports, foreclosure properties in Frederick, MD and in other areas of the state that have been associated with robo-signers are being refiled by the lender. A spokesperson for the lender stated that the bank has requested for the dismissal of foreclosure actions that were signed by so-called robo-signers so that the actions can be refiled and the cases can proceed.

The move was reportedly made by the bank ahead of a planned class action case involving foreclosure homes in Maryland that were signed by Xee Moua, an employee of Wells Fargo who allegedly signed foreclosure documents without first-hand knowledge of the cases. However, lawyers for the planned lawsuit reportedly stated that they have not heard of any dismissal.

The lawyers for the borrowers complaining against Wells Fargo reportedly stated that they did not know of any dismissal. However, some of them did say that they hope Wells Fargo will take the same steps taken by GMAC to avoid foreclosures on properties that do not qualify for a foreclosure in the first place.

GMAC recently announced that it will stop more than 200 foreclosure house sales and active foreclosure actions in Maryland that are associated in some way with alleged flawed paperwork. The decision of GMAC was reportedly made after the nonprofit association, Civil Justice, consented to drop a class action case against the lender. The case was supposedly initiated in behalf of borrowers whose documents bore the signature of Jeffrey Stephan.

Stephan revealed in a 2010 sworn deposition that he signed foreclosure affidavits without checking first whether the details are accurate. The same admission was made by Moua last year, leading a number of homeowners who want to avoid foreclosures to argue that cases against their properties might not be valid. A case involving a foreclosure signed by Moua is scheduled this month in Maryland.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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