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Dade City couple may still lose home to foreclosure

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  1. real estate1:08
  2. Wells Fargo0:06, 1:00
  3. State Supreme Court0:29
  4. Tampa Tribune2:29
  5. originally planned1:54
  6. new foreclosure2:19
  7. Tampa0:09
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Tue, 15 Feb 2011|

Shannon Behnken follows up with a Dade City couple trying to save their home from foreclosure. A judge ordered their lender to mediate their case, however the lender has been giving them the run-arou

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Automatically Generated Transcript (may not be 100% accurate)

Last week we told you about a Dade city couple trying to save their homes from foreclosure. A judge had ordered Wells Fargo the mediator case. But the lenders Tampa attorney planned to foreclose. Is Shelly Shannon -- stepped in to find out why the couple got the run around.

CNN Larry Don Carty merely lost their yearlong battle to save their home from for closures today.

felt to me like they are holding -- or something along that line was almost gunboat diplomacy. When I felt.

The State Supreme Court says homeowners have the right for one last negotiation with their lender. But when the couple tried to go through mediation. They got the run around after months of waiting they receive contradicting letters. The first said there's cases to pray for mediation and generally excited we thought wow. I only need look -- teams but another letter warned that a final foreclosure hand.

My wife didn't know what to think I didn't know if things.

They contacted eight on your side and we set out to get answers. The attorney representing Wells Fargo first said they are moving forward with the foreclosure anyway they say they would just hold off on selling the doctor -- until after mediation. The real estate attorneys tell us that doesn't make cents. Mark -- is a foreclosure defense attorney not involved in this case he says it's increasingly common for lenders to seek for closure win then mediate.

It's it's dangling the carrot. We have no intention of letting you -- for Karen they're gonna pull away.

So -- said the dot pretty story shows despite 6% of eligible homeowners have had successful mediation. In the program's first year.

Too many people you know they just wanna get their mediation they -- have their sit down with the bank because their presuming that the banks are acting in good faith just like they are. And they don't realize that most of the times bank's view this mediation process is just a hurdle to jump through to get their foreclosure.

The bank originally planned to foreclose on the dot pretty town today but after repeated calls from -- on your side they canceled the hearing. That means DNA and Mary now have enough time to go through mediation.

I feel like we -- we'll have more room now. And we can breathe a little more and at least ten times as you know have have a little more optimism.

in bank and east channeling. There's story offers a peek into why the new foreclosure mediation program helped just 1%. Of eligible cases last year. For more on why the program is struggling. You can check out Shannon's story in Thursday's Tampa Tribune.

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