BALTIMORE CITY SUES WELLS FARGO

Baltimore City has hired a Washington, DC Law Firm to sue Wells Fargo Mortgage because it says that Wells Fargo gave sub-prime mortgages and too many fixed rate mortgages, at a high interest rates, to a large number of Minority home buyers that live in Baltimore City. Although a lot of these homeowners are facing foreclosure. If this works I'm sure that many other Cities will jump on the bandwagon with their own lawsuits. I feel that if the City wins this lawsuit, i'm sure that Mayor Dixon will want to reallocate the money among the homeowners facing foreclosure. At this tie Cleveland has also instituted suit against Wells Fargo.