• Report: #1062006

Complaint Review: Wells Fargo Bank

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  • Submitted: Tue, June 25, 2013
  • Updated: Tue, June 25, 2013

  • Reported By: sam — Foxboro Massachusetts
Wells Fargo Bank
101 Federal Street Suite Suite 2010 Boston, Massachusetts USA

Wells Fargo Bank Weels Fargo is ripping off elderly customers with reverse mortgages Boston Massachusetts

*Author of original report: You got that right

*Consumer Comment: You Can't Trust ANY of these Massive Financial Institutions.. They are motivated by GREED

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 My inlaws made the mistake of dealing with Wells Fargo for a reverse mortgage.  They were totally ripped off by their deceptive practices.  The equity in the hoouse is now gone, and they moved out 2 years ago.

Since Wells Fargo is getting payment from HUD every month, they have kept delaying the foreclosure. They have told us that they cannot find the title or deed which I located in about 2 minutes at the registry of deeds. They have been sending harrassing letters to us for over a year and we cannot get anywhere with them.

Because of this, my inlaws have been denied Medicare since they still "own" the house that they have not occupied in two years.

 


This report was posted on Ripoff Report on 06/25/2013 01:14 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo-Bank/Boston-Massachusetts-02110/Wells-Fargo-Bank-Weels-Fargo-is-ripping-off-elderly-customers-with-reverse-mortgages-Bos-1062006. 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:
1Author 1Consumer 0Employee/Owner
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#1 Author of original report

You got that right

AUTHOR: sam - ()

The big banks love to screw everyone they can.  Of course they took advantage of my in-laws who collectively have the IQ of a turnip.

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#2 Consumer Comment

You Can't Trust ANY of these Massive Financial Institutions.. They are motivated by GREED

AUTHOR: Yepyep - ()

So sorry to hear about your inlaws. I stoped dealing with Wells Fargo and many other major financial instituations YEARS ago. I lost ALL FAITH in them. One needs to ALWAYS have Government Oversight when dealing with them. 

I don't trust the Capitalistic system anymore. Too many people are getting ripped off in very legit looking sophisticating financial schemes by major institutions. Capitalism has become PERVERSE. They are very tricky in how they do their contracts now.

I haven't financed anything in many years. I rarely deal with these companies as I stated. One needs to pretty much have a lawyer on the payroll (LIKE THESE MAJOR FIRMS DO) to make sure they aren't getting screwed. 

Wells Fargo, Bank of America, CitiBank, ALL OF THEM ARE CORRUPT AND MONEY GRUBBING and VERY VERY DUBIOUS. There are too many to list.

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