• Report: #247666

Complaint Review: Wells Fargo

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  • Submitted: Wed, May 09, 2007
  • Updated: Fri, November 18, 2011

  • Reported By:Chehalis Washington
Wells Fargo
473 N Market Blvd Chehalis, Washington U.S.A.
  • Phone: 360-740-8565
  • Web:
  • Category: Banks

Wells Fargo Strung 72-yr-old widow along during reverse mortgage app about working out time ext w/current mortgage holder Chehalis Washington

*Author of original report: In response to "Keep in mind"

*Consumer Comment: Keep This In Mind

*Author of original report: In response to "Ex-Employee" rebuttal

*Consumer Suggestion: Sadly----

*UPDATE EX-employee responds: Be Responsible

*UPDATE EX-employee responds: Be Responsible

*UPDATE EX-employee responds: Be Responsible

*UPDATE EX-employee responds: Be Responsible

*Author of original report: Wells Fargo Bank in Chehalis, WA has a really messed up way of treating their long time customers....

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My 72 year old mother was in foreclosure with my deceased father's family home (been in his family's name for over 100 years) from a debt consolidation loan through Greentree Financial. Then she fell prey to a sweepstakes/check scam for $2890 (the check she deposited and wired the funds to the "sweepstakes processor" was counterfeit!). She contacted her bank, Wells Fargo, and informed them of what this then found out they already knew and her account was negative the $2890. All of my mother's income is received via direct deposits (my dad's death benefits and her social security benefits) and Wells Fargo of course is keeping them to cover the check that was found to be counterfeit. (Note: this meant/means my mother is without any income at all for over two months!) In dealing with her bank of 24 years about this matter they referred her to someone in the bank, a Mr. Bill Bloomer, to do a reverse mortgage to cover the defaulted deed of trust, make repairs to the home and pay off the counterfeit check (approx. two weeks before the trustee's sale). Mr. Bloomer, while assisting her with the reverse mortgage, kept telling her he was working with Greentree Financial on an extension of time regarding the sale. He continued this farce clear up to the morning of the auction when he was supposed to call her right back about this "extension". At this point she had already taken out a short term loan somewhere else to cover the $300 appraisal fee (which claimed the property value had doubled since the last appraisal...for no apparant reason) and received the committment documents from her bank that were contigent upon her submitting to them the necessary estimates and inspector's reports. She was only 1 shy of having all of them completed and submitted. This was only because the soonest a certified structural engineer could get to it wasn't for 9 days and she didn't find out she needed one until approx. 4 or 5 days prior to the sale date....still, the evening before the auction when my mother said to Mr. Bloomer over the phone that she guessed she may as well start packing...he said to her to not start thinking that way just yet, that he was still communicating with Greentree about an extension..... On May 4th, 2007 a man introducing himself as the agent for the person who bought our family home at auction knocked on our door wanting to assure we weren't going to turn it into a "party pad" before vacating in the allotted 20 days! Bill Bloomer never did call back about the suppossed "extension".
When a family friend contacted him by phone just hours after the sale he denied ever telling my mother anything about trying to work out an extension of time. (He had even mentioned to me during the one and only phone conversation I had with him that Greentree Financial was "playing ball with" him "so far, but" he "couldn't be sure for how much longer".) Implying to me anyway, that the subject of time had come up between them.

My mother did not file a suit pre-sale to stay the sale because she was penniless as I mentioned earlier due to Wells Fargo taking all of her income to pay off that counterfeit check and therefor could not pay the principal and fees required when staying a sale nor could she afford to pay the processing/filing fees necessary in bankruptcy preceedings.....so apparently she waived her "rights" to any redemption of the property.

If anyone else knows otherwise, please, help. It seems to me that the "extinuating circumstances" at play here should be a valid cause to file a motion to set aside the trustee's sale for just enough time for a reverse mortgage to close. She was so close to securing the funding necessary after having given up earlier, it took a lot for her to gain whatever it took to try again. He got her hopes and trust up so high....for nothing!

My grandma, my grandpa and my father passed away in this home....their souls check on us here. I can't not try.

Sandra
Chehalis, Washington
U.S.A.

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This report was posted on Ripoff Report on 05/09/2007 12:00 AM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo/Chehalis-Washington-98532/Wells-Fargo-Strung-72-yr-old-widow-along-during-reverse-mortgage-app-about-working-out-tim-247666. 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:
2Author 7Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

In response to "Keep in mind"

AUTHOR: Sandra - (USA)

The following is from RCW 6.15.020 Pension money exempt Exceptions Transfer of spouse's interest in employee benefit plan. - From the Washington State Legislature site:

"(2) Unless otherwise provided by federal law, any money received by any citizen of the state of Washington as a pension from the government of the United States, whether the same be in the actual possession of such person or be deposited or loaned, shall be exempt from execution, attachment, garnishment, or seizure by or under any legal process whatever, and when a debtor dies, or absconds, and leaves his or her family any money exempted by this subsection, the same shall be exempt to the family as provided in this subsection. This subsection shall not apply to child support collection actions issued under chapter 26.18, 26.23, or 74.20A RCW, if otherwise permitted by federal law."

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#2 Consumer Comment

Keep This In Mind

AUTHOR: Jim S - (United States of America)

The exemption would not cover the situation your mother is in because of the manner in which the debt occurred.  In a way, your mother actually stole money from the bank by cashing a bad check; the only way to make the situation right was for the bank to take that action.  I understand the scam in which she fell for is a common one most rational people would not fall for; it's a pretty old scam.  I am also aware certain funds are exempt from collections like SSI and other Federal benefits, but a Federal Pension would not be one of those items.

The better course of action for your mother would have been for her to declare bankruptcy rather than the reverse mortgage; this would have stopped the sale of the home as well as preserve the pension and other benefits she receives.  At this point, there are no 'extenuating circumstances'; I mean you could try to get a real estate attorney to try and unravel the sale, but there isn't anything in your story that would indicate such a circumtance exists.

Your mother is in need of someone to oversee her finances.  It doesn't matter who in your family that might be, but it needs to happen.  I mean that should have happened much earlier because there is far more to this story than you are letting on (if you mother had a debt consolidation loan to begin with in the first sentence, something is VERY wrong).  Best of luck to you.

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#3 Author of original report

In response to "Ex-Employee" rebuttal

AUTHOR: Sandra - (Afghanistan)

1.)    "....communication to the lender is the borrowers responsibility! You or your mother should have contacted the bank to get the extension!":

The trustee handles requests for time extensions, not the "bank".  (And my contacting them would have been meaningless as I was not on the deed of trust nor assosciated with the originating loan in any way.) Seems to me that an "ex-employee" of said "bank" would have already known that.  But then it also seemed that having an actual "Mortgage Consultant" for said "bank"; equipped with knowledge pertaining to financial lending laws and the like, communicating with the appropriate channels would surely be more beneficial than attempting the same on our own as we were unaware and uncertain of what/how to go about handling anything.  I guess we felt that once a mortgage consultant from her bank was "handling" her "case" that doing such things such as negotiating time extensions with the necessary entities was in fact..their RESPONSIBILITY....that is what they get PAID TO DO!

2.)    "....how are you going to blame the bank for taking the direct deposits?!?! This was her mistake!!!!": 

As I stated in my report, the direct deposits to my mother's checking account were derived from "my dad's death benefits and her social security benefits"...I should have stated that my dad's death benefits were from a United States Federal Government pension.  Both sources are exempt by law from collection.  Once again, I would have thought an "ex-employee" of said bank would have already known that.  I had thought that the employees of said bank at that time would have already known that as well! But then, I also naively thought that the employees at her bank at that time with their knowledge of financial procedures and such would have at least followed standard check cashing protocols and funds availabilty policies and not allowed the entire withdrawal of funds drawn on an out-of-state bank only hours after deposit...I guess because...once again....that is what they get PAID TO DO!
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#4 Consumer Suggestion

Sadly----

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

your mother fell for an old scheme that nobody in this day and age would would fall for. Just as well as she would have become a victim of the next shyster that came along promising something for nothing. Her misfortunes leading up to the auction of her house would have taken months and months. Where were you and the rest of her family while all this was going on? Move her in with you as she certainly is not capable of making even rudimentary decisions. All of this is obviously someone elses fault.
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#5 UPDATE EX-employee responds

Be Responsible

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

All I have to say is that communication to the lender is the borrowers responsibility! You or your mother should have contacted the bank to get the extension! Quit blaming everyone else for your loss and take responsibility!!! Also, how are you going to blame the bank for taking the direct deposits?!?! This was her mistake!!!!
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#6 UPDATE EX-employee responds

Be Responsible

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

All I have to say is that communication to the lender is the borrowers responsibility! You or your mother should have contacted the bank to get the extension! Quit blaming everyone else for your loss and take responsibility!!! Also, how are you going to blame the bank for taking the direct deposits?!?! This was her mistake!!!!
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#7 UPDATE EX-employee responds

Be Responsible

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

All I have to say is that communication to the lender is the borrowers responsibility! You or your mother should have contacted the bank to get the extension! Quit blaming everyone else for your loss and take responsibility!!! Also, how are you going to blame the bank for taking the direct deposits?!?! This was her mistake!!!!
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#8 UPDATE EX-employee responds

Be Responsible

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

All I have to say is that communication to the lender is the borrowers responsibility! You or your mother should have contacted the bank to get the extension! Quit blaming everyone else for your loss and take responsibility!!! Also, how are you going to blame the bank for taking the direct deposits?!?! This was her mistake!!!!
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#9 Author of original report

Wells Fargo Bank in Chehalis, WA has a really messed up way of treating their long time customers....

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

In addition to the before mentioned mortgage mess, Wells Fargo Bank's handling of the counterfeit check situation is appalling! My mother deposited the $2890 check into her checking account that she has had for 24 years, from back when Wells was 1st Interstate (as the "sweepstakes winner notice" sent with it had instructed her to do). Then she phoned the "sweepstakes winner notifying company" that sent her the check and informed them she had deposited it. The "representative" instructed her to withdraw $2700 plus western union fees and wire it to their office in London to cover processing of the winning claim.

Unfortunately, she did. Wells Fargo Bank allowed the withdrawal of $2800 from a $2890 deposited check written on a bank from another state only approx. two hours after the deposit. Kept every cent of my mother's income for two months to repay the debt created when the check bounced, offered to "help" her with her foreclosure and her checking account balance with a reverse mortgage that their mortgage consultant's incompetence and out and out lying has only "helped" her into homelessness, said in a letter that due to recent activity regarding her checking account that they had made a business decision to close her account for fear of possible future damage to Wells Fargo and my mother (but did not elaborate as to what activity nor what the possible damages were) and then......did not close her account....instead that let her go on believing it was indeed closed but in actuality they just kept taking her income deposited via direct deposit!
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