H-ORCUTT

Mar 4, 2011 4:08 PM by Ariel Wesler

Orcutt man claims to be victim of Wells Fargo foreclosure scam

The Orcutt man frustrated by his loan modification process with Wells Fargo is considering filing a lawsuit against the bank. He says when he applied for a loan modification, the company stuck him with thousands of dollars in fees, ultimately forcing him into foreclosure.

At the end of 2010, Jeff Persson says his bank put him into a Trial Period as a provision to getting his loan modified. He made three months of payments and was then told he needed to come up with more than $5,000 in the next 10 days.

When he couldn't do it, they denied the modification and plan to put his house up for auction. He has been able to get the auction date pushed back to March 21.

We'll break down both sides of the story that's affecting thousands on the Central Coast, tonight at 5 and 6.

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