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Wells Fargo forecloses during Modification Negotiations

Wells Fargo forecloses during Modification Negotiations


Jun. 29, 2010
Copyright © Las Vegas Review-Journal

Homeowner gets foreclosure reprieve

Company barred from evicting tenant while case is pending

By JOHN G. EDWARDS
LAS VEGAS REVIEW-JOURNAL

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 Wednesday, temporarily preventing the buyer from evicting Brown, his two sons and his fiancée 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.

The case is unusual because Brown comes from a prominent family. His father, Joe Brown, president of law firm Jones Vargas, sat on the state community board at Wells Fargo Bank and was friends with Wells Fargo’s regional President Kirk Clausen.

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Posted in Eviction, foreclosure, mortgage modification, wells fargoComments (1)


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