New York (CNN Business)Foreclosures can be extremely painful events. Imagine finding out years later that it was all a big mistake.
That’s exactly what happened to Jeff and Eva Reiner. The couple turned to Wells Fargo (WFC), their mortgage servicer, for help making their payments after Eva, the family’s breadwinner, was laid off by Verizon (VZ) in 2010.
“We were desperate. I begged them for help,” Eva Reiner told CNN Business.
But Wells Fargo did not accept their requests for a mortgage modification for their beloved 6-acre property in rural South Carolina. Wells Fargo eventually foreclosed on the home, forcing the couple to move their teenage son, give up three dogs and forfeit the equity they had built up in the house.
This fall, the Reiners learned from media reports they were among the approximately 545 homeowners who lost their homes because of an apparent software glitch with Wells Fargo’s loan modification process.