Wells Fargo: We are helping Newport News teacher keep home, despite foreclosure letters
Williamsburg, Va. - Wells Fargo said all the right things to both James Graves and NewsChannel 3 after we exposed the company’s attempt to foreclose on his family’s Williamsburg home.
Graves took a mortgage moratorium to help with expenses from Hurricane Sandy, but when his 90 days were up, the company demanded a lump sum payment or threatened to take the home.
After NewsChannel 3 got involved on Friday, Wells Fargo told us the Graves’ home wouldn’t be going up for auction, while the company helped him avoid foreclosure.
Graves had just a little bit of hope, but then he went to check the mail Saturday and his sense of security went out the window.
A certified letter came from Wells Fargo’s attorneys.
“As of June 19th, the total amount required to pay is more than $370,000. When I saw that, I’m like, I don’t trust you at all,” said Graves.
Graves again called NewsChannel 3, and we immediately called Wells Fargo which led to a conversation between the homeowner and the company’s executive office of complaints.
“When you see this demand letter certified, that they want the full amount of the mortgage, what am I supposed to think?” said Graves.
Wells Fargo has come under fire since Hurricane Sandy, accused of ignoring federal guidelines on moratoriums and forbearance, and continuing with foreclosures on those affected by the disaster.
A Change.org petition was started by a woman in New Jersey. It’s since gotten over 70,000 signatures.
“Joining all of us together, and Channel 3 News, we can fight back,” said Graves. “It’s illegal, it’s fraud, and it’s wrong.”
Wells Fargo contacted us Monday saying they are continuing to work with Mr. Graves so he can keep his home, despite the letters he is receiving to the contrary.
They say they are legally required notices and standard in all foreclosure cases.
Wells Fargo does hold that the specifics of the moratorium, and payment requirements, were explained to Mr. Graves as early as November of 2012.
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