© Berlyn Photography
There is a great reality that is happening right now especially in the case of various houses that have been foreclosed. While it is true that there is an increasing reality that more and more people are unable to pay their mortgages whenever they fall due, there is another problem which is at stake here and that such houses and real estates have commonly become victims of vandals and various negative elements such as being the venue of most drug dealings and lawless elements.
Now, it is indeed true that this is the current reality in most foreclosed properties. However, there is another seemingly more pressing issue at hand, and that is the issue of various bank officers taking advantage of the said bank’s foreclosed properties.
An issue to seriously settle:
To be in particular, a certain Vice President of the Wells Fargo and Company was found to unusually settle in most of the foreclosed properties. The irony of it all is that this officer is directly responsible in the facilitation of the foreclosure of most properties.
It has even put in media publication particularly in the LA Times and the 106 Malibu Colony News. Accordingly, this certain executive from Wells is actually responsible in the many foreclosure processes of most properties. This person was actually seen having lucrative parties and even holding a beach party in a certain beach house that is said to be under foreclosure which is significantly worth $12 million. Now, this is the main explanation why most real estate agents are wondering why the Wells Fargo is refusing to subject these houses to foreclosure processes.
Now, to make matters even worse, the family who lost the said house had no other choice but to do so due to the fact that they have been a victim of the Ponzi scheme. This Wells executive known as Cheronda Guyton is the person responsible for throwing expensive parties and that he even had the audacity to invite guests who actually came there by yacht.
The moment this was found out and was immediately brought to the concern of the Wells Fargo, the only response that was received is that the Wells Fargo will be making a more thorough investigation on such matter indicating that the said incident is an isolated case.
However, one might think otherwise. It is because Wells Fargo is not actually on its great year. Although such company has been hailed one of the biggest mortgage lenders of the nation, there has been some compliance issues that they have failed to follow. This is with regards to the proper modification of mortgages which are troublesome and are at risk of foreclosure.
In as much as the Obama Administration’s advocacy to assist in the prevention of various foreclosure plans, Wells Fargo still insist on their own policy which highly contradicts the administration’s mediation. This only goes to show the true intention of the company on their personal interest on the various foreclosed assets. Indeed, such would show the total lack of credibility of such company.