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Wells Fargo Says $30M Foreclosure Suit Jumps The Gun

Law360, New York (May 21, 2015, 7:41 PM EDT) -- Wells Fargo & Co. asked a Georgia federal judge Wednesday to dismiss a $30 million lawsuit alleging it has reneged on a mortgage forbearance agreement, arguing all damages were speculative and that bankruptcy proceedings would have prevented it from foreclosing regardless.

The bank told Judge Richard W. Story that the breach-of-contract and fraud lawsuit, which seeks declaratory judgment forcing Wells Fargo to adhere to a forbearance agreement barring it from foreclosing on the metro Atlanta property, is presumptive, as it was filed before the foreclosure was scheduled to happen.

The plaintiffs, who are Georgia property owners and borrowers or guarantors of...

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Case Information

Case Title

Subscribers Only

Case Number

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Court

Georgia Northern

Nature of Suit

Real Property: Foreclosure

Judge

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Date Filed

May 3, 2015

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