Wins like this is happening all over the country. It’s just very few people get to hear about it because they are often settled under a gag order. I know of one foreclosure defense member who also got his house free and clear plus a large settlement check using a Quiet Title Action against his lender also.
This Missouri couple sued Wells Fargo seeking to wipe Wells Fargo as well as Freddie Mac from their loan/title. They used a similar process we teach in our Foreclosure Defense Membership program in which they used the Fair Debt Collections Practices Act to dispute the debt owed. The Note that Wells Fargo sent back to the couple had no endorsements nor any assignments (as it is a standard industry practice not to endorse a note). They used this as evidence against Wells Fargo. Wells Fargo did not dispute this fact that the note was not assigned to them.
As a result, the court ruled that since the note was not fully assigned to Wells Fargo, Wells Fargo had no real interest in the debt and had no standing to foreclose.
What’s more, to ensure that Wells Fargo does not do this again, the Judge awarded the couple
TWO MILLION NINE HUNDRED FIFTY- NINE THOUSAND ONE HUNDRED TWENTY·THREE DOLLARS ($2,959,123.00)
in punitive damages, in addition to granting them free and clear title to their house.
There are hundreds of stories like this happening across the country.
You can download a copy of the case here.
To learn more about how you can use a similar process to seek Quiet Title, for your home, check out our foreclosure defense coaching program.
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