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Mortgage mess hits Springs family
Posted: 02.19.2010 at 8:48 PM
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COLORADO SPRINGS, COLO. -- A Colorado Springs family has their house auctioned off from under them. But they may get to stay in their home now that FOX21 News is asking questions.

The family bought the home near the Air Force Academy in 2005. Then last year the man lost his job and the family fell behind on their mortgage.

They were able to get on a payment program through the mortgage company and had been keeping up the payments ever since.

Then last week they were told their house had been sold at auction.

Tammy and Flavio Bugarin say they were stunned when the mortgage company told them they had to move out. They say calls to the mortgage company didn’t end with very many answers.

So they called FOX21 News and now the mortgage company says they will work with the Bugarins to keep them in their home.

It’s their dream home with enough room for their growing family. They even put down $100,000 on it when they bought it. But after losing his job, Flavio Bugarin fell behind on the mortgage.

"At first I felt like a failure. I failed to provide for my wife and kids," Bugarin said.

He soon started his own business and was able to get on a payment program with Wells Fargo mortgage. Each month Wells Fargo made an automatic withdrawal from their account for the new payment amount.

Then last week the couple got a call from Wells Fargo mortgage.

"He said that we need to make plans to move out of the house because our house had been sold at auction," Flavio said.

With no letter, no notice the house had been sold at a foreclosure auction.

"My heart dropped. I didn’t know what to say," Flavio said.

When the Bugarins asked why the home had been foreclosed when they had been keeping up on the payment plan Wells Fargo didn’t have an answer.

"Wells Fargo showed absolutely no paperwork that we were on a program," Flavio said.

But after FOX21 News called Wells Fargo, officials said they would rescind the foreclosure sale and get the Bugarins on another payment plan.

After a roller coaster ride of emotions the Bugarins are understandably skeptical.

"We’ve kept up our end of the deal. We just want them to do the same.Wwe just want answers and we do not want to lose our home," Tammy Bugarin said,

The Bugarins may not be out of the woods yet. They say Wells Fargo is telling them it will take 10-90 days to approve the new payment plan.

But no one can tell them if they’ll be forced out of their house while they wait for approval.

FOX21 News will keep an eye on the situation and provide updates.

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