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Report: #407496

Complaint Review: Wachovia Mortgage - Atlanta Georgia

  • Submitted:
  • Updated:
  • Reported By: Charlotte North Carolina
  • Author Confirmed What's this?
  • Why?
  • Wachovia Mortgage PO Box 105693 Atlanta, Georgia U.S.A.
  • Phone: 888-435-1354
  • Web:
  • Category: Banks

Wachovia Mortgage, Wachovia has been ripping my family off, our payments were higher than when we took out the loan & then they just out right lie, they sent us a statement in Dec. saying we were 1 mo. behind & our oldest payment was due Nov.15, 08 Atlanta Georgia

*Consumer Comment: Adjustable Rate Mortgages are adjustable by definition.

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Wachovia lies & steals, they trick elderly people into thinking that an arm mortgage is safe any way we pay more now than when we took out the loan and they lied ad said that we would pay less. anyway they sent us a statement in Dec. dated 12/08/08 saying that we were 1 payment behind and that our oldest payment was due Nov. 15, 2008 and that we owed by Dec.15,08 4,038.81. then they sent a statement dated Dec.18,2008 for Jan. saying we owed 11, 818.80 and are 5 payments behind and our oldest payment is 8/15/08. How can this be?

Its a mess I have more proof but it would take all day. I have to go see my Mom she is 81 years old and these people are trying to take her money and her home. I am willing to help with filing a class action suit against these people. they are liars and theives and God is not pleased.

Armedia
Charlotte, North Carolina
U.S.A.

This report was posted on Ripoff Report on 01/03/2009 08:23 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wachovia-mortgage/atlanta-georgia-30348-5693/wachovia-mortgage-wachovia-has-been-ripping-my-family-off-our-payments-were-higher-than-407496. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
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1Consumer
0Employee/Owner

#1 Consumer Comment

Adjustable Rate Mortgages are adjustable by definition.

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

POSTED: Saturday, January 03, 2009

Armedia,

Of course, you may be required to pay higher or lower monthly mortgage payments compared to the time the mortgage was taken out, that is why ARMs are called Adjustable Rate Mortgages. ARMs are not safe for any homeowner, eldery or not, because the interest rate could rise substantiallly and thus your monthly payments could increase by hundreds

I do not understand why Wachovia Mortgage would send out staments on 12/12, 15, and 12/18. I would call and ask for supervisor to straighten out the mess. Do not go into a bank branch and they can only open mortgages not service them.

A class action suit against Wachovia Mortgage is not realistic unless there is willful financial damage against hundreds or thousands of Wachovia Mortgage customers. You have to prove the other Wachovia customers were affected in the same way as your mother. Watch the movie "Erin Brockovich" and you will see a good movie about a class action lawsuit.

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