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  • Report: #123335

Complaint Review: Wells Fargo Home Mortgage

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  • Submitted: Fri, December 17, 2004
  • Updated: Mon, January 10, 2005

  • Reported By:Rowlett Texas
Wells Fargo Home Mortgage
1 Home Campus X2501-01T Des Moines, Iowa U.S.A.

Wells Fargo Home Mortgage, America's Servicing Company Liars! They led me to believe we were working on a solution. Des Moines Iowa

*Consumer Suggestion: Wells Fargo is America's Servicing Company

*Consumer Suggestion: Guess who's getting rich ripping you off, Wells Fargo biggest share holder is Berkshire Hathaway Inc. owned by Warren Buffet

*Consumer Comment: Run away as fast as you can. Wells Fargo feeds off making people's lives miserable!!!!

*Consumer Suggestion: Wells Fargo is America's Servicing Company

*Consumer Suggestion: Get Out From Under ASC's Thumb RIGHT NOW...here are a few options

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I had fallen behind in my mortgage payents due to being unemployed. I called Wells Fargo and was working with the to work out a repayment plan. I offered to make a partial payment since I was working again and they refused it. They said I needed to fill out a packet and see which options that I would qualify for. I did not receive the packet in the time frame they said I would. I called them back and we went over everything again even capturing over the phone my salary and expense information. I offered again to make a partial payment, more than I had the first time and they again refused but said they would resend the packet.

I finally received the packet, completed all paperwork and faxed back to them. I also sent the originals to them by certified mail.

I called three days later and they told me that my paperwork was being reviewed. And to call them back later. I called them back again and the paperwork was still being reviewed. I asked to speak to a manger and she told me the same thing. I again offered to make a partial payment and she refused it. I also spoke with her about a letter that I reeived stating that I had until December 22, 2004 to bring the account current or it would become necessary to accelerate my mortgage. I told her that I wanted to take care of this before that time. She said she understood and that I should call back next week. She also told me that my house was NOT in foreclosure as had been told to me on numerous occassions.

I called again on Monday. I was told the same things. That they were reviewing my paperwork.

Called again on Wednesday they told me the same thing. I again offered to make a partial payment, larger than the others, but also explaining that I could not pay all that was owed since I had just started working again.

On Thursday I receive a letter stating that my mortage loan was being transfered to America's Servicing Company. This is one week before the dealine they had given me and during what they led me to believe was fnding a plan to save my home.

I have been open and honest with this company and they have lied and deceived me this entire time.

Now I find out that they had sold my Mortgage to a company that specializes in stealing peoples homes, are under ivestagtion and I have until January 3, 2005 to make payment of what I could not pay to Wells Fargo.

I have received no communications from America's Servicing Company. Is there anything that I can do to stop this?

Douglas
Rowlett, Texas
U.S.A.

This report was posted on Ripoff Report on 12/17/2004 10:58 AM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo-Home-Mortgage/Des-Moines-Iowa-50328/Wells-Fargo-Home-Mortgage-Americas-Servicing-Company-Liars-They-led-me-to-believe-we-we-123335. 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 5Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Wells Fargo is America's Servicing Company

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

Your loan has not been transferred. Wells Fargo is America's Servicing Company.
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#2 Consumer Suggestion

Guess who's getting rich ripping you off, Wells Fargo biggest share holder is Berkshire Hathaway Inc. owned by Warren Buffet

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

They are out of Omaha, Nebraska. Berkshire Hathaway Inc. is owned by Warren Buffet. Mr Buffet ownes many companies such as Coca-Cola as well as Vanderbilt Mortgage, Clayton Homes and Oakwood Acceptance Corporation. All of whom have complaints filed against them on this sight. They are preditory lenders who's goal is to assume your home and resell it, doubling or perhaps tripling their investment in very short time.

Send copies of all of your transactions with your complaints. Keep a journal of all the phone calls you have.

Hang in there. Your not alone.
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#3 Consumer Comment

Run away as fast as you can. Wells Fargo feeds off making people's lives miserable!!!!

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

I too fell behind in my mortgage. (I have a post on this site already with my whole story) Long story short.....We tried to make arrangements to reage our loan that was behind. lie after lie until we had foreclosure paperwork in our door. We filed bankruptcy to keep our house. Wells Fargo has made our life a living nightmare. I have been working with another mortgage company to refinace my loan for 6 months now because Wells Fargo keeps playing games with us. Enf result.....WE WIN. We are finally able to refinance. Closing tomorrow. I am so happy to be getting away from these crooks. Do whatever you have to do to get away from Wells Fargo before they completely ruin your life.
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#4 Consumer Suggestion

Wells Fargo is America's Servicing Company

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

Wells Fargo is America's Servicing Company. Your loan was "transferred" in order to disguise an intent to foreclose. File complaints immediately with the Federal Trade Commission, The Office of Control of the Currency, The Attorney General's Office, HUD and Fannie Mae. This will slow down, and in most cases, stop a foreclosure procedure. I have been going through this since December 2003. America's Servicing Company/Wells Fargo has repeatedly been ordered to remove all negative activity from my credit file. However, each time I try to refinance, suddenly this information reappears. This company is already under investigation.
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#5 Consumer Suggestion

Get Out From Under ASC's Thumb RIGHT NOW...here are a few options

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

1. If you're in a position to do so, REFINANCE NOW just to get the loan away from ASC and their cohorts in crime. If you can't qualify to refi because of credit or unemployment issues, try:

2. IMMEDIATELY Sell the house "on paper" to a family member or trusted friend who can qualify for the loan, but you continue to live in the home and pay the mortgage. Once the loan closes, have the family member or friend deed the property back to you by way of a Quitclaim Deed so you retain title. You will lose the tax benefits of ownership for a while, but in time your credit will improve, or your employment situation, and you will be able to buy the house back from the family member and get the tax benefits back.

3. If you don't have a family member or trusted friend who can qualify to "buy" your house, SELL THE HOUSE NOW while you still have equity in it. Once they start foreclosure you will lose the equity. Better to lose the home (sell it) and pocket the equity than to lose the home by foreclosure and lose all the equity, and be potentially liable for their attorney's fees and even a "deficiency judgement" which could entitle them to garnishyour wages. A deficiency judgment happens when someone owes, say $200,000 on their mortgage, then the lender forecloses and the house sells at auction for only $125,000. In some states, including Hawaii, the lender has the legal right to collect the $75,000 "loss", or "deficiency",from YOU, which can lead to your wages (or accounts receivable if you're an independent contractor or business owner) being garnished.
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