Lawsuit Against Mortgage Company

[airtyme]

My question involves a consumer law issue in the State of: Texas/Idaho

The property in quiestion is in the state of Idaho. We are now living in Texas. We did a "short-sell" of the property in January 2009. The lender was Wells Fargo. We did a 80/20 loan (Wells Fargo Home Mortgage and Wells Fargo Home Equity). Loan of $337,000.

What type of attorney should we seek if we decide to bring a lawsuit against the lender? Here are the facts:

1. In March 2008, I was trasnfered by my employer (federal government) and had a guaranteed offer ($301,000.00) by them to purchase the home. It was for $40,000 less than we owed, but we HAD to accept. ( I know, crazy, but there are reasons for this acceptance).

2. We had 60 days to accept the offer before it would be rescinded.

3. It took about 40 days to finally speak to the right person/department at Wells Fargo to make this happen.

4. We finally had approvel the 59th day. The negotiator, Megan Clair, for Wells Fargo said she would have everything completed and taken care of the next (the final) day.

5. The negotiator for wells fargo did not show up for work that day, her supervisor could not find her records of working on the account and said "she must have everything in her PERSONAL files". (this was all thru emails which I still have).

6. The offer by my employere wa rescinded for not completing within the alloted time frame.

7. I eventually resigned from my position in Aug 2008, because the stress of dealing with the issue got the better of me. I later quit in October 2008because it got even worse. I moved back to Texas and went to work for an old employer.

8. December 2008, we had the first and only offer aside from my previous employer...$229,000!

9. Wells Fargo Home Mortgage (WFHM) agreed to a short sell and relieved us of the deficiancy amount, but Wells Fargo Home Equity (WFHE) would have to do the same.

10. After countless unsuccesful attempts to reach WFHE (we still had to go thru Megan Clair, the previouse negotiator), save one, the contact person for WFHM, not WFHE, contacted us and said that WFHE had agreed to the shortsell.

11. Closing was done January 2008.

12. About 1 hour after closing, the title company sent us another document to sign, because Megan Clair from Wells Fargo Home Equity sent it to the buyers agent instead of us. Ofcourse, he paid no attention to it because it had nothing to do with him. It was a settlement offer that said we had to pay the deficiancy amount of over $60,000 to WELLS FARGO HOME EQUITY. This was never brought to our attention until after closing. But we had to sign it, or the deal would fall thru and wells fargo would proceed with forclosure.

13. This was a faxed and email copy, BUT IT READ: "To accept, sign and return the ORIGINAL copy and return to Wells Fargo in the enclosed envelope". ****Ofcourse, we have yet to receive the orignal.

14. The final HUD statement showed that $3000.00 of the proceeds of the sale to Wells Fargo as "PAY-OFF" to the second Mortgage. This $3000 was received by WFHE.


There are many more problems with this whole transaction. We are now getting calls from Primary Financial in an attempt to collect this debt. The last phone call resulted in them saying they would start to take legal action.

Again, what type of attorney do we need to get in contact with? If anyone has ANY advice on this, please let me know.

Thanks in advance!

[LawResearcherMissy]

You'll want an attorney who specializes in real estate law.

Contact your State Bar Association for a referral.