If you have experienced any of these issues, please contact Baron & Budd for a complimentary review of your mortgage statements.
It is likely that you were charged unlawful fees by your mortgage company.
Our attorneys have already filed a lawsuit against JPMorgan Chase and Wells Fargo alleging that the two banks illegally charged excessive and unnecessary service fees against borrowers. The scheme targets bank customers who have been late making mortgage payments.
Call 1.866.844.4556 or fill out the form below.
We rely on financial institutions to help us achieve the American dream. For many, however, these same institutions have made home ownership a nightmare.
These banks have been known to deceptively take our hard-earned dollars, damage our credit rating and even force us out of our homes.
When borrowers are late on their mortgage, banks levy default-related service fees, which are as high as $135 in some cases. These deceptive fees are typically listed on the borrowers’ monthly statements with intentionally cryptic descriptions, such as “Other Charges,” “Miscellaneous Fees,” or “Corporate Advances.” For borrowers who are behind on their payments and can least afford it, these default fees essentially begin the foreclosure process.
The “Miscellaneous Fees” or “Other Charges” are, among other things, supposed to cover the bank’s cost to hire real estate brokers to evaluate borrowers’ homes for a foreclosure auction. The bank is allowed to charge a fee for the evaluation, called a broker’s price opinion, but under the terms of your mortgage, banks are not allowed to make a profit. In the case of Wells Fargo and JPMorgan Chase, these banks are doing just that, making huge profits.
Together, the two banks have cheated hundreds of thousands of borrowers out of potentially a billion dollars. Baron & Budd attorneys have reason to believe other banks are engaging in these deceptive practices as well.
Baron & Budd is involved in the ongoing class action against JPMorgan Chase and Wells Fargo. The case, filed in February 2012 in San Francisco, aims to collect millions in damages from these deceptive default fees.
