- Report: #317123
Report - Rebuttal - Arbitrate
Complaint Review: Option One Mortgage / Wells Fargo
Option One Mortgage / Wells Fargo6501 Irvine Center Drive Irvine, California U.S.A.
Option One Mortgage / Wells Fargo Company promissed not to foreclose on our house, based on an agreement we made, and then did it anyway. Irvine California
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They promised us that this would stop any and all foreclosure proceedings. We cooperated with every request they made. We send them every document that they asked for. After all of that we were told over the phone "do not make a payment on this loan, since you will be soon be receiving a new account number and we want to make sure that the payments that you make are applied to the proper loan account."
After a couple of weeks without hearing from them I called to check in and was informed that my house had gone to auction at the county court house 3 days earlier!!! Now nobody bought my house at the county court house so you'd think they would try and work something out with us to still retain the home. They told me that the state of California prevents banks from communications with their previous customers, after a house has gone to sale. They said this is actually done to protect the borrowers from predatory lenders who continue to contacted their customers in order to try and get money from them. So they used that law as an excuse to not work something out with my wife and I.
Surprisingly I have continued to receive bills from Option One, which is in direct violation of the "one action state" law that they claimed was the reason they could no longer work with us. Seems to me like we have a predatory lender here. My house should have never been foreclosed on in the first place, but at this time all I am asking is for their REO department to sell the property to a buyer who is willing to pay cash for the property, but sell it while we are stil in the property. This way the new buyer gets guaranteed tenants, which is what he wants, and Option one does the right thing by not evicting us and making us homeless over a mistake that they made internally.
Furthermore, I have a manager in the Junior Lien department who is willing to testify against Option One and state that is was 100% their mistake, and my house should have never gone to sale per the forbearance agreement we had started with them.
Anyone else out there go through something similar? Am I in for a losing fight? I can't believe they continue to get away with putting innocent families on the street!!
Is there anyone who can help?
Sincerely, Jared Spencer
SAN DIMAS, California
This report was posted on Ripoff Report on 03/12/2008 12:34 AM and is a permanent record located here: http://www.ripoffreport.com/r/Option-One-Mortgage-Wells-Fargo/Irvine-California-92618/Option-One-Mortgage-Wells-Fargo-Company-promissed-not-to-foreclose-on-our-house-based-o-317123. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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