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  • Report: #555343

Complaint Review: WFS WACHOVIA

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  • Submitted: Fri, January 15, 2010
  • Updated: Mon, February 01, 2010

  • Reported By: CC — Novato California United States of America
WFS WACHOVIA
P.O. Box 659548, San Antonio Texas San Antonio, Texas United States of America

WFS WACHOVIA Wells Fargo; World Savings Refuses to do loan modification even though property is upside down and I am current on payments San Antonio, Texas

*General Comment: you are upside down and want World Savings to take the hit?

*Consumer Comment: ***NATIONWIDE MORTGAGE ALERT!!! Make sure to go to the WELLS FARGO page of this site and watch....

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Looking for other people that have had bad loans with World Savings/Wachovia/Wells Fargo to begin a class action suit.  Here we are upside with our loans and the one that benefits from all this  is the lender.  If you have one of these loans/or been denied for a modification for any reason - please write back and tell us your story.


email back at: (((ROR redacted)))


 

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

This report was posted on Ripoff Report on 01/15/2010 08:38 PM and is a permanent record located here: http://www.ripoffreport.com/r/WFS-WACHOVIA/San-Antonio-Texas-78265/WFS-WACHOVIA-Wells-Fargo-World-Savings-Refuses-to-do-loan-modification-even-though-proper-555343. 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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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
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#1 General Comment

you are upside down and want World Savings to take the hit?

AUTHOR: IamGood - (USA)

Why should they??????   You bought a house, they loaned you the money to make payments, and now you have no equity because the home value has plummetted .  Why is this the bank's fault? 

What if the Bank decided that if you had lots of equity in the house because the home was  now worth more than the loan value, and they went in and increased your loan value so that they could lay claim to some of your equity?????  You would be angry and probably try to get a Class Action Suit against them too.

You need to continue making the payments, this is your obligation..

The lender is NOT BENEFITING from your being upside down.  When they foreclose on the house, they will have to sell it for less than the loan value, and they will take a big, fat loss.  If they decide to keep the house, and sell it when the property values go back up, they could be stuck with the house for 2 or 3 years before they recoup their losses.

Is the reason you want a loan mod is that you  are ANGRY, because you are paying for something that is less than what you owe????  If that is the reason TOO BAD for you. 

 

 

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#2 Consumer Comment

***NATIONWIDE MORTGAGE ALERT!!! Make sure to go to the WELLS FARGO page of this site and watch....

AUTHOR: Karl - (U.S.A.)

the 3 videos that can be accessed from one of the comments to that Ripoff Report, which is entitled- RIP OFF REPORT WELLS FARGO BANK- WELLS FARGO HOME MORTGAGE WELLS FARGO LIED AND STOLE YOUR HOME (you can 'Google' it!)

And don't forget to read all of St. Clair's Ripoff Reports at the MERRILL LYNCH page of this site if you have a mortgage.

P.S. Anyone can 'Google' this- TURKO, and get his phone number and contact him, correct?

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