Wells Fargo FHA Lawsuit Update in Arizona

0_main_lawsuit_ruslan_grumble_shutterstock_134827223If you had a Federal Housing Authority (FHA) loan with Wells Fargo between June 1, 1996 and Jan. 20, 2015, you may be able to take part in a $30 million class action settlement.

The plaintiffs in the Wells Fargo FHA home loan interest class action lawsuit alleged that the bank had improperly charged them and others interest on their FHA insured mortgages.

Specifically, the class action lawsuit alleged that Wells Fargo failed to provide proper notice to mortgage holders regarding the collection of post-payment interest on their FHA loans.

The plaintiffs alleged that, in the event of a refinance, they and other FHA loan holders were effectively charged twice as a result — once by Wells Fargo and again by the new lender.

Over 1 million mortgage holders who had FHA backed loans with Wells Fargo over the course of nearly two decades may qualify for the Wells Fargo FHA home loan interest class action settlement.

The class action settlement received preliminary approval from a federal judge in August 2018.

Wells Fargo does not admit any liability or wrongdoing under the terms of the Wells Fargo FHA home loan interest class action settlement.

The deadline for Class Members to object to or exclude themselves from the settlement is Nov. 20, 2018.

NOTE: If you do not qualify for this settlement do NOT file a claim.  Arizona Mortgage Advantage, LLC does not have a direct business relationship with Wells Fargo.  Information contained in this post is for information  purpose only.  If you think you qualify, please research the qualifications of settlement based on your specific circumstances.

You may read more about this class action settlement here:  Top Class Actions

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