I think this is the case for many of us who needed the HELOC when times got tough or for an emergency.

A dispute over a foreclosure is headed for trial.

By: Judy Wiff, Pierce County Herald Published June 29 2010

A dispute over a foreclosure is headed for trial.

A jury trial is set for March 16-17, 2011, in a case brought by Wells Fargo Bank against Deborah and John Sherman II, 434 Court St. North, Prescott. The bank claims the Shermans failed to make payments and now owe $384,236.

According to the Shermans, they had a 10-year draw period on a line of credit, but when they went to withdraw funds, they found the bank had reduced the credit limit based on a “substantial decline” in the value of their property.

“The Shermans have never been behind on a payment and use the line of credit in the running of their business,” wrote their attorney as he challenged the foreclosure action.

Continue reading…here

Related posts:

1. FINED! NY Judge Spinner Orders Lender To Pay Long Island Couple $100K Originally published: April 21, 2010 8:09 AM By ELLEN YAN...
2. Groves woman claims Bank Of America mistake led to foreclosure Starting to sound like a broken record with these bank...
3. ANOTHER ONE BITES THE DUST!! IN RE BRIGID In re: MARY BRIGID, Chapter 7, Debtor. MARY ANN RABIN, Plaintiff, v. MARY BRIGID, et al., Defendants. Case No. 08-18750, Adversary Proceeding No. 09-1062. United States Bankruptcy Court, N.D. Ohio. Via: Livinglies More and more Judges are finding ways to...
4. Bank Fails to Rebut Satisfaction’s Validity Created By Notary’s Acknowledgment; FORECLOSURE DENIED! -Wells Fargo Bank NA v. Moise Via: FRAUD DIGEST ROBO-SIGNER The trial court opinion was published...
5. DEUTSCHE BANK drops Foreclosure Case on Two Florida Candidates! What I want to now know is how this happened...