Friday, July 9, 2010

Foreclosed Homeowner Allowed To Stay Put Pending Litigation Accusing Wells Fargo Of Blindsiding Family With Home Sale During Loan Mod Negotiations

In Las Vegas, Nevada, the Las Vegas Review Journal reports:

  • Tyree Brown, the homeowner who complained that Wells Fargo Bank blindsided him with a foreclosure during loan modification negotiations, has won the first round in court. District Court Judge Douglas Smith signed a preliminary injunction [], temporarily preventing the buyer from evicting Brown, his two sons and his fiancĂ©e from their northwest Las Vegas home.

  • JFS Management Group, which made the winning bid on the home at a February foreclosure sale, won't be allowed to take over the house at 1840 Spring Summit Lane and "flip it" for a profit while the case is pending. Brown and the buyer must negotiate a monthly payment amount or Smith will set the payment amount for them.

For more, see Homeowner gets foreclosure reprieve (Company barred from evicting tenant while case is pending).

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