Complaint Review: Wells Fargo - ASC - Des Moines Iowa
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- Author Confirmed
- Wells Fargo - ASC Des Moines, Iowa U.S.A.
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- Category: Loans
Wells Fargo - ASC Wells fargo - ASC are ripping homeowners off & Foreclosing w/out mitigation efforts Des Moines Iowa
*Consumer Comment: I ALWAYS THOUGHT THE 4TH OF JULY WAS A FEDERAL HOLIDAY.......
*Consumer Comment: Your figures are a bit off.
*Consumer Suggestion: Fair?
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I fell behind in payments due to job loss and was told they would work with me but the letters I received in mail were not at all descriptive of my arrangements. They are very unorganized they lost my loan modification package four (4) times and I started to ask them for confirmation fax receipts which was a good idea since they allways lied and said I was denied due to not submitting my packages. I was able to prove otherwise and then they committed the same act over and over again w/out any excuses. I tried desperately to reach the person in charge of my account and was not successfull in getting in contact with that individual as the matter of fact neither could customer care. My home faith was left in this individual hand who was unreachable and ultimately they foreclosed my home in the middle of negotiations with my attorney. I am a single, 38 year-old female who purchased my home in 06 and paid my mortgagae on time but could also not affort their increases to my loan every three months. started with a $2800 mortgage and in less then a year I was paying 3,400 ordaand ultimatle they requested I pay 4,300 which was surely to put me and my three kids in the street. I never was able to upgrade my home as I owed more then the house was worth. Not elegiable for a short sale. This is the worst deal I ever received in my life and all I wanted was them to reduce my interest rate from a 19.5 on a 400K to something more affordable like 5%. But this became more and more of a challeneg and they sold the house during the so called loan modification process. Never made an offer and was never able to get no one on the line to assist me. I have retained all my communication with ASC and will continue to crusade for others as they are well know for stealing the american dream!! People need to be warned of their deceptive practices.
Mg
Fontana, California
U.S.A.
This report was posted on Ripoff Report on 08/28/2008 09:42 AM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo-asc/des-moines-iowa/wells-fargo-asc-wells-fargo-asc-are-ripping-homeowners-off-foreclosing-wout-mitigat-367780. 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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#3 Consumer Comment
I ALWAYS THOUGHT THE 4TH OF JULY WAS A FEDERAL HOLIDAY.......
AUTHOR: Viking Girl - (U.S.A.)
SUBMITTED: Friday, February 20, 2009
In response to the 38 yo who had issues with ASC, you have ignited a flame within me. I thought I had resolved my pain and suffering that I have endured from the damage that ASC inflicted upon me in 2006. Before I write more than I should, I am just wanting to say....I feel your pain.....
I went on my crusade. If I would have had the bucks to continue, I probably would own ASC right now. However, my overall health was more important than trying to sleep in the bed that used to be in my home that I once owned.
Please contact me if you want more info. Believe me, I can top all the stories thus far.
#2 Consumer Comment
Your figures are a bit off.
AUTHOR: Nikki - (U.S.A.)
SUBMITTED: Saturday, August 30, 2008
A $400,000 mortgage at 19.5% has a monthly payment of $6520, so there's no way your interest rate is 19.5%. Also, do you escrow for taxes and insurance? Of course your payment goes up every year from those also.
Why should they lower your interest rate to 5%? I pay ontime, every month, and my rate is not that low. If the mortgage companies start reducing rates that ridiculously for non-paying customers, can you imagine the uproar from the paying customers?
When you told them you wanted 5%, of course they never made you an offer. Your original deal sounds like 7.5% if your payment was $2800 (unless you escrow). They couldn't even come close to what you wanted, so they just decided to foreclose rather than have you string them along any further.
#1 Consumer Suggestion
Fair?
AUTHOR: Bob Pace - (U.S.A.)
SUBMITTED: Saturday, August 30, 2008
5 percent is a fair rate? Considering the FHA is lending at 6.625% right now, I'd say 5 percent would be unfair to those folks that purchased a home they could afford and can't even sniff 5 percent.
With that said, 19.5 percent is ridiculous. I've never even heard of a rate going that high even under LIBOR. I would imagine you could have tried to work something out on a reduced rate, but if 5 percent interest is what you could afford, they probably would have never approved that anyway.
It sounds as if the increases in your payments most likely stem from escrow for taxes and insurance as well. I know taxes in California are very steep, but there is nothing the mortgage company can do to stop that.
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