Wells Fargo FAIL | Cape Coral Family Pays Wells Fargo for Home Bank didn’t Own




Go ahead, buy that foreclosed home, I dare ya…

Exclusive: Cape Coral family pays Wells Fargo for home bank didn’t own

Brian and Holly Barnhart thought they were home free when they bought their Cape Coral dream house from Wells Fargo Bank – but the bank didn’t even own the house.

Now the Barnharts, who emptied their life savings to buy the house for $153,000 cash and renovate it for another $80,000, are stuck in limbo along with their two small children and a baby due in July.

If they needed to sell the house, they couldn’t because they never actually owned it, said their Fort Myers-based lawyer, Jack Pankow.

“It’s nerve-wracking to say the least,” said Brian Barnhart, a real estate agent with Gulf Gateway Realty. “And it’s killing us.”

So far, nobody’s stepping up to make things right.

At the heart of the problem is a mortgage foreclosure lawsuit filed by Wells Fargo in 2007 against Richard Riccobono for a mortgage he had on the house. The bank won the suit and then took back possession of the house, but moved July 30, 2009, to set aside its ownership.

That caused ownership of the house to revert to Riccobono.

But on Nov. 3, 2010, Wells Fargo sold the house to the Barnharts – who discovered two months later they didn’t really own it when they applied for a mortgage.

Check out the rest here…



6 Responses to “Wells Fargo FAIL | Cape Coral Family Pays Wells Fargo for Home Bank didn’t Own”
  1. George Forfa says:

    The sleaze is just dripping off of this story. There has to be some kind of fraud and racketeering involving Riccobono and Wells Fargo. This is even more obvious than a situation that I saw about 20 years ago. All it takes to dominate a local real estate market is a crooked judge, a crooked real estate broker, a crooked attorney and a crooked bank loan officer. I suspect that all of these could be found in this situation.


      Left out one secret player,hiding in the back ground.A crooked auto dealership on Long Island N.Y. Using its finance dept.in collusion with the other crooks.As an under ground mortgage company.Bank access,lien release access.
      This is the WILD CARD that nobody is addressing.Goes all the way from N.Y.to Fla. A network off crooked bankers,officials attorneys.

  2. Yep, this is the next crisis coming to a neighbor near you

  3. Mad as Hell in Maryland says:

    So, according to the chain of events, the home is still owned by Mr. Riccobono, right? Also, correct me if I am wrong, however, the Title insurance policy will make the current ‘Tenant’ / ‘Homeowner’ whole? Right?

    Sounds like Wells went and dismissed something that was very stinky, and then tried to just sweep it under the rug. Just par for the course, the sloppiness, and haphazard attitudes will cost them dearly!

  4. You Know It says:

    Yes, come buy some real estate in Lee County. The land of broken dreams & corrupt courts… “You’re Gonna Love It Here” The welcome wagon is on its way….

  5. housemanrob says:

    Lee County, WHAT DID THEY EXPECT! ……..this is the start of an “atomic implosion” and now the titles are going to blow op in their faces. GOOD LUCK CHARLIE GREEN………YOU PERSONALLY DESERVE WHAT IS COMING! (and the infamous lee county head judge…..I won’t mention his name)

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