A proposed class action lawsuit claims that Wells Fargo secretly changed maturity dates on second mortgages that secured home equity lines of credit. The lawsuit says the dates were changed to cover up an error that would have left Wells Fargo holding hundreds of millions of dollars in unsecured debt.
Filed in Florida federal court, the lawsuit looks to represent a class of borrowers nationwide, as well as a Florida-only subclass, who obtained HELOC loans from Wells Fargo and had a fraudulent Affidavit of Correction recorded that purported to change the terms of their HELOC mortgages.
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