Four generation home lost to foreclosure
After living in one Omaha home for decades, it'll have a new owner. However, it's not by choice.
Judi Lee, 75, is being forced to move out after failing to amend a loan.
Ten years ago, Lee's mother used the home for collateral on a 45,000 dollar loan through Wells Fargo.
“She was 90 and she lived two years after the loan was taken out," Lee said.
Wells Fargo stated the law prohibits discrimination for age.
When Lee's mother and uncle died, Judi couldn't make the $250 monthly payment on a fixed income. She requested a loan modification.
“We need this paper and that paper and we send it," Lee said.
Wells Fargo told 6 News it attempted to work with Lee on two loan modification reviews, but she failed to respond to requests for information. She denied that claim.
The bank foreclosed the home after delaying for 14 months.
The investment group that bought the home through foreclosure gave a standard three-day vacate notice but indicated it will work with Lee, who can also ask for a delay in court.
“70 years of stuff I got to get rid of.”
Julie Fogerson with Wells Fargo sent a statement to WOWT6 News. It states Wells Fargo recently revealed an error that caused more than 800 customers nationwide to be denied loam modifications, and many lost their homes.
However, the bank states that didn’t involve this Omaha case, which it claims was handled appropriately.
"Prior to the foreclosure sale on Ms. Lee’s property, we attempted to work with the legal heir on two separate modification reviews. In both cases, the legal heir either failed to provide the requested documentation needed to conduct a full review or failed to respond to our requests for information," Wells Fargo said.
"During the approximately 14-month period, we also postponed the foreclosure while we worked with the legal heir on these reviews. Due to the heir’s failure to provide the requested documentation or respond accordingly, we regrettably had no alternative but to move forward with the foreclosure sale," the statement continued.
"As to the origination of Ms. Lee’s loan, we originate all loans according to applicable fair lending laws and regulations. These laws prohibit discrimination on the basis of several factors including but not limited to race, color, religion, national origin, gender and age. There was no co-signer on the loan," it continued.
"Additionally, the modification reviews in this case were not impacted by the error we recently disclosed and the foreclosure was completed appropriately," Wells Fargo said.