The Texas Constitution forbids certain lending practices as regards home equity loans and modifications to those loans. If I'm right that many major lenders have been issuing illegal loan modifications of Texas home equity loans for years, and in some instances then trying to conceal that by misrepresenting to borrowers that foreclosure is imminent, the potential liability of these lenders is staggering. A penalty for such misdeeds under the Texas Constitution is FORFEITURE of the loan by the lender. Read More...

Tags: wells fargo,emc,jpmorgan,chase,citibank

Wells Fargo is alleged to have (1) modified Texas home equity loans illegally by including past-due interest and exceeding an 80% loan-to-value ratio, and (2) when it discovered this, covered it up by pressuring homeowners to do a short-sale or deed-in-lieu of foreclosure. My class action takes aim at these practices. Read More...

Tags: wells fargo,home equity,loan modifications,texas constitution,homestead protection