Wells Fargo computer glitch blamed as hundreds lose their homes

 

Source: Anna Werner, CBS News

These days, Jose Aguilar can only drive by the home he and his family lost to foreclosure three years ago, the small ranch house in upstate New York where they wanted to raise their children.

Wells Fargo says a computer glitch is partly to blame for an error affecting an estimated 545 customers who lost their homes. The giant bank filed papers with the Securities and Exchange Commission last month, revealing it incorrectly denied 870 loan modification requests. About 60 percent of those homeowners went into foreclosure.

Read Full Article: Wells Fargo computer glitch blamed as hundreds lose their homes

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