Minion & Sherman
Call Us Today for a Free Confidential Consultation

Family tries to stop foreclosure after bank surprise

With a wave of foreclosures flooding the state of New Jersey, people get used to hearing the same types of stories. Situations such as surprise medical bills, lost jobs and the end of unemployment benefits can all lead to hardworking families losing their homes. What one does not expect, however, is a story about a family that made every single payment on their mortgage and still has to scramble to stop foreclosure.

The couple bought their home in Houston in 2008. Unfortunately, soon after they made the purchase, the title company filed for bankruptcy. In the ensuing set of legal complications, the legal title to the house was never transferred to the couple. Instead, the previous owner, Wells Fargo Bank, still held title.

The couple made every payment and never received any notice that the property had not been transferred properly. When they heard about the problem, they worked for a year and a half to try to resolve it directly with the bank, but to no avail. Subsequently, a foreclosure notice from Wells Fargo arrived.

According to the couple, the bank is claiming that fees and late charges have increased the cost to purchase their home to $170,000, more than $40,000 higher than the couple paid for the home three years ago. The couple cannot afford that price and they wonder why they should have to pay anything more. While a bank spokesperson said the company was working to resolve the situation, it remains to be seen what will happen.

If the bank insists on the additional amount, the couple will need to do whatever they can to stop foreclosure. It is a problem confronting New Jersey residents on a daily basis, particularly because indications are foreclosure actions have recently picked up steam. One important option available is to consult with an attorney devoted to helping individuals and families solve their credit problems. A bankruptcy proceeding through Chapter 13 or other debt relief actions may lead to a successful resolution, allowing a family to keep its home.

Source: My Fox Houston, "Family Hit by Surprise Foreclosure," Emily Akin, Sept. 26, 2011

No Comments

Leave a comment
Comment Information


At the law offices of Minion & Sherman, our New Jersey bankruptcy attorneys have been providing families with real solutions for more than 20 years.

Email Us For A Response

Contact Us Today for a Free Consultation

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

West Caldwell Office
33 Clinton Road
Suite 105
West Caldwell, NJ 07006

Toll Free: 866-915-1839
Phone: 973-559-5791
Fax: 973-882-0856
Map & Directions

Newark Office
201 Washington Street
Newark, NJ 07102

Toll Free: 866-915-1839
Phone: 973-559-5791
Fax: 973-882-0856
Map & Directions