Calif. Court Revives Wells Fargo Loan Modification Suit

Law360, Chicago (January 31, 2014, 4:49 PM EST) -- A California appeals court on Thursday resurrected a class action accusing Wells Fargo Bank NA of reneging on agreements to modify mortgage loans and unlawfully foreclosing on homeowners’ property, reversing a lower court’s finding that the plaintiff’s trial period agreement with the bank didn’t constitute an enforceable contract.

Plaintiff Coby Goodman had indeed shown in his complaint that he met the terms of his trial period plan — or TPP — with Wells Fargo, requiring the bank to offer him a contract for permanent modification of...
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