PRINCETON – A Mercer County couple is suing a mortgage lender, claiming the firm engaged in abusive loan servicing and needlessly pursued foreclosure on their home.
David L. Brown, 65, and Ronda J. Brown, 68, filed a lawsuit March 14 in Mercer Circuit Court against Wells Fargo Bank N.A., doing business as Wells Fargo Home Mortgage Inc., alleging misrepresentation, unconscionable conduct and fraud.
According to the complaint, the Browns entered a mortgage agreement with Wells Fargo on June 20, 2002, for $38,675 at 12.75 percent interest, with the understanding the interest rate could balloon as high as 18.75 percent. After suffering a dip in income, the suit says, the Browns appealed for assistance with their payments in 2014.
Although the defendant allegedly instructed the Browns to skip payments until their loan modification was approved, the suit claims they fell further behind, allowing Wells Fargo to pursue foreclosure once their loan modification was denied. Today, the Browns say they can again make their regular monthly payments, but not the amount they owe in arrears.
The Browns seek a jury trial, compensatory and actual damages of less than $75,000, and litigation costs. They are represented by attorney Bren J. Pomponio of Mountain State Justice in Charleston.
Mercer Circuit Court Case number 16-C-83WS