• Report: #869042

Complaint Review: Wells Fargo Home Mortgage

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  • Submitted: Sun, April 15, 2012
  • Updated: Sun, April 15, 2012

  • Reported By: Kris — Greer South Carolina United States of America
Wells Fargo Home Mortgage
SuiteL-2-200, 1200 West 7th Street Los Angles, California United States of America

Wells Fargo Home Mortgage Equal To A Loan Sharking "Business" Los Angles, California

*Consumer Comment: Every Story Has At Least Two Sides

*Consumer Comment: Kris, Feel free to 'Google' this- WHO CONTROLS THE UNITED STATES ECONOMY BY MAJORITY 2010, and watch that video......

*General Comment: Contact an attorney

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   We have had our home for 8 years.  Somewhere along the line, Wells Fargo "bought" our mortgage.  After a loss of income situation, we contacted Wells Fargo about a loan modification.  They offered a three month trial period with a reduced payment.  We took it. Wells Fargo then said we needed to make more payments before we could be considered for permanent loan modification. Then we were in "REVIEW" with WFHM.  Recently, we received a forbearance agreement with a payment that over $150.00 MORE than we were making with the reduced payment we started with.  And it states, and I quote, in part, "Since the installments may be less than the total amount due you may still have outstanding payments and fees.  Any outstanding payments and fees will be reviewed for an option to bring the loan current. .... The lend, in its sole discretion and without further notice to you, may terminate this Agreement. ..."  In the meantime, fees and charges keeping piling up in the monthly statements.  So, what are the "options" they speak of?  And what if someone at WFHM has a bad hair day and decides they want to terminate the Agreement?  There has been no breakdown of what the payment we are making includes. 

 How are we supposed to know what the final modified payment will be?  Will it really be modified?  Under the Obama Administration, Wells Fargo got a LOT of money to help the consumers.  Wells Fargo is the only entity being helped here.  They get the money from the Government and the money from us.  They PIMP and PROSTITUTE and call it legal.  Where are the details of how our money is being applied?  If my spouse weren't disabled, we would probably just walk away.  We are upside down in our house like so many other people in this economy.  WFHM has been stringing us along and there has not been any resolution.  We have put time and money into upgrading this little house of ours.  It's not much, it's very small and modest.  A solid, 8 year payment history without late payments does not matter to Wells Fargo!  Older, disabled citizens does not matter to Wells Fargo!  It feels as though we are being prostituted by Wells Fargo and we will never be able to break free of their PIMP MENTALITY.  They want to take everything you have and then beat the Hell out of you for not giving them more!!!!

This report was posted on Ripoff Report on 04/15/2012 05:36 PM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo-Home-Mortgage/Los-Angles-California-90017/Wells-Fargo-Home-Mortgage-Equal-To-A-Loan-Sharking-Business-Los-Angles-California-869042. 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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#1 Consumer Comment

Every Story Has At Least Two Sides

AUTHOR: TheDonald D - ()

People do want to work these issues out. The catch is that once there is a problem there is no reasonable solution. Our lenders start to show their loan sharking ways that have been touted as acceptable. Just because it is legal doesn't make it right. Wells Fargo has been a great company for me to do business with and that is true if all is well. I have had unprofessional customer service issues requesting a title to be sent to a state that requires one be sent in order to register the vehicle. That took about two years because I happened to get a fickle person on the phone and I didn't kiss her feet just right. I have had mortgage loans as well. If anything goes wrong you are on your own. Pay or else. You signed the contract and it is black and white. That is exactly what you will get no matter the economy, national unemployment, Martians, meteors etc. I myself had a divorce with a Quit Claim Deed involved at the same time I was becoming a disabled veteran not fit to make such decisions.

The house was given over but my name was never taken off the loan and refinanced as is customary. That affected my credit ability to purchase when she decided to stop paying the mortgage and moved into another house she inherited. She cannot be contacted and I have tried everything talking to Wells Fargo and leaving messages for her. This began in 2004. It is extremely unfair to my family now. What sense does it make to put a lock on the door for years yet not be able to work something out with me without her defaulted signature? It is easy to say, " Go to a lawyer." What sense does that make when obviously money is the problem in many of these cases. They don't have money to pay a lawyer or keep their house so it is a slick reason for slick people to do slick things.

More foreclosures to thumb through and feel superior about it while you are at it. Just business. Technically correct but there remains no solution therefore it is a failure that the entire country has to absorb due to a larger more greedy picture of how unfair the whole circle of life is from wage earning to debt repayment. It is still a wild west of uncertainty for borrowers and wage earners but loads of excitement for priviledged and wealthy sharks. We wouldn't want to spoil their fun by streamlining the whole system with checks and balances that benefit us all at the end instead of feeding a disfunctional desire to belittle less fortunate human beings. We are all in this together. Standing high and mighty and hypocritical will not solve it. Things will just fall apart for everyone. Being a mindless minion feels empowering but is artificial.

Big industry is capable of defending itself as well as speaking for what it is responsible. Everything is fixed as in a fixed horse race etc. From colleges to churches everything is tainted and unconstitutionally illegal. An unspoken monopoly. Fair? The big picture is unfair and also the answer to most social suffering and woes. Economy built on lies because there are so many liars. Too many monopolies, too much coercion, black mail, blackballing and extortion in our daily lives in our society. I don't know what to call the structure of our society any more that people must follow or else. Many people doing something wrong does not make it right even if money and power made it lawful.

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#2 Consumer Comment

Kris, Feel free to 'Google' this- WHO CONTROLS THE UNITED STATES ECONOMY BY MAJORITY 2010, and watch that video......

AUTHOR: Karl - (USA)

on the web.

I believe that the CEO of Wells Fargo appears towards the end of that four minute video. Perhaps you should send him a copy of your Ripoff Report so he knows what is going on, wouldn't you agree?

Make sure to spread your Ripoff Report all over the web at sites like Twitter and Facebook. Just tell everyone to go to RipoffReport.com and type in 869042 in order to read your Ripoff Report.

Good luck to you.

***NATIONWIDE MORTGAGE ALERT: Make sure to type in 481508 at this site and read St. Clair's Ripoff Report for valuable information if you have a mortgage in the USA.
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#3 General Comment

Contact an attorney

AUTHOR: Righteous1 - (USA)

I think in part you are misunderstanding the entire concept of forebearance and short term reduction. A Lawyer in this field of expertise would better steer you into understanding your options. I have no empathy for you or people who carry on about mortgages when you clearly signed and agreed to the terms from the get go. Mortgages are often bought and sold thru out its term. You happen to get lucky with Wells Fargo who is one step away from being a sleeze bag of a company. Their record keeping is deplorable so good luck unraveling their mess! Its zero business of yours if they got bailout money...it doesnt mean you are given part of that money...They are being bailed out because people are recinding on their obligations to pay!
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