Wells Fargo Finds Foreclosure Law Works Both Ways

Wells Fargo Finds Foreclosure Law Works Both Ways

Wells Fargo Finds Foreclosure Law Works Both Ways

Wells Fargo v. Tyson, 2007-28042, is a foreclosure with a twist, thanks to New York Supreme Court Justice Jeffrey A. Spinner. Steven Tyson couldn't afford to heat his house, which was in the process of mortgage foreclosure, so he moved out for the winter. He kept food and clothes there, along with furniture, and winterized the place before he left. Then he arranged with a neighbor to watch the house, and visited it himself at least once a week. In November, Tyson discovered that Wells Fargo had changed the locks, even though the foreclosure wasn't final and the house still belonged to him. When he confronted the bank, he was given a new key and a promise that there would be no more unauthorized entries. A month later Wells Fargo did it again, using a duplicate of the key they had given to Tyson. That day he found the garage door open and property missing. In court, the bank's agent testified that they thought the property had been abandoned. Their attorney claimed Wells Fargo had an "absolute and unfettered right" to enter the property at any time, which was not what the law or the mortgage says at all. Justice Spinner called the bank's claims "self-serving" and "specious" and said that Wells Fargo had run roughshod over Tyson's rights. The judge ordered Wells Fargo to pay Tyson $200 for the trespass, $4,892 for the missing property, and here's the best part: $150,000 "as an appropriate deterrent to any future outrageous, improper and unlawful deeds. Based on everything we know about Wells Fargo and their behavior here in Florida, this isn't going to get them to change their ways, but at least this is one outrageous foreclosure tactic that they didn't get away with.If you would like me to share more information that may help, or possibly explain better what is happening to you in this foreclosure mess, please don't hesitate to come to my site at http://www.palmbeachforeclosurelaw.com

Thanks for reading,

Catherine Mulcahey, Attorney at Law

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