Wells Fargo Bank accused of modifying mortgage terms

(NBC) – The Bank, Wells Fargo is facing new allegations for allegedly revising mortgages in bankruptcies, without consumer’s permission.

Wells Fargo has been hit with lawsuit that accuse the bank of capitalizing financially on its consumers by modifying mortgage terms for customers who had filed for bankruptcy protection.

The bank allegedly extended the length of the loans putting some homeowners at risk of default.

In court papers filed last week, plaintiff’s attorneys say the bank pulled off a ‘virtual hijacking’ by implementing illegal stealth modifications in at least 100 cases nationwide.

Wells Fargo has denied the claims.

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