• Report: #919126

Complaint Review: Wells Fargo

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  • Submitted: Sun, July 29, 2012
  • Updated: Sun, July 29, 2012

  • Reported By: simon — huntington sta New York United States of America
Wells Fargo
420 Montgomery Street Internet United States of America

Wells Fargo Wachovia- World Savings Predatory Lending Internet

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Wells Fargo Formally admit No wrong doings in connection with their Pick-A-Payment loan affiliations and practices

Im shocked and appalled at the millions of lives that have been destroyed by the loan practices of Wells Fargo AKA Wachovia AKA World Savings by using its position of influence, power and cloak of operating under the US regulatory acts, to deceive, misinform and mislead decent hard working Americans in believing that their Pick-A-Pay equity building loan was far superior to all other traditional loan options. Therefore an admittance of guilt would allow for fair and reasonable compensation to all
main street Pick-A-Payment victims.

I've been personally victimized by Wells Fargo-Wachovia who is now in default of my civil suit Case No 11-CA-014613 filed within Floridas Brevard County, Wachovia truly believes they are above the law and untouchable Your attention and support is desperately needed.

Further details:

I have a mortgage loan from world savings (now wells Fargo) that was sold to me back in 2005 as the best mortgage loan on the market due to its various modification and conversion options and flexible payment selections. The loan was even sold as an equity builder, but was really designed to self-destruct leaving the mortgage holder in ruins. I say this with conviction due to the fact of the loan, previously known as Pick-a-Payment has been removed as a loan option, the owner of World Savings bank and inventor of this loan option quickly selling out to Wachovia prior to the collapse in the housing market and the victims, due to the millions who were effected, received pennies on the dollar under of class action suit designed to exonerate Wells Fargo from any wrong doings, even though their bank acquisitions by law requires Well Fargo to be responsible for all loan products that were sold under both World Savings and Wachovia. What is even more shameful than the tactics used in selling these loans, such as: inflated income, inflated and inappropriate appraisals and deceptive loan selling practices that hide the facts that made this type of loan a self-destructing loan that leaves very few survivors, is the fact that Wells Fargo reacted expeditiously when given the opportunity to dole out a measly $700 to $2,000 per victim in exchange for a no
wrongful ruling and terms that stated that no additional law suits could be filed against them regarding this matter, but for people who were fortunate enough to have opted out of the class action suit in time, Wells Fargo has elected to utilize the maximum  five year statute of limitations to hide behind, while further inflicting pain and suffering to the remaining distraught and financially devastated Pick-A-Payment victims If Wells Fargo has no concern or care for the lives that were destroyed,
then maybe Rip-off report does, if not Rip-off then who?

This report was posted on Ripoff Report on 07/29/2012 06:15 AM and is a permanent record located here: http://www.ripoffreport.com/r/Wells-Fargo/internet/Wells-Fargo-Wachovia-World-Savings-Predatory-Lending-Internet-919126. 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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