Instead of Helping, Bank Compounds Couple's Housing Nightmare
Las Vegas Review-Journal
June 17, 2012
Many Nevada homeowners are currently underwater on their mortgage due to the recent recession. Two Nevada retirees, Mel and Yvonne Klien, are also struggling with their mortgage and were hopeful to find some relief through the Home Affordable Refinance Program (HARP). Instead, the couple decided against the HARP after discovering that Wells Fargo wouldn’t allow Klien to refinance his mortgage without signing a provision that would force Mel to void his will.
Mark J. Connot, a Partner in the firm’s Las Vegas office, spoke to the Las Vegas Review-Journal
about the couple’s situation. Connot said that banks can do what they want as long as they don't violate federal lending requirements.
"I've not heard of that," Connot said. "It doesn't mean they have to sign it, but (the Kliens) are stuck between a rock and a hard place.” View entire article