Report: #722477

Complaint Review: Wells Fargo Bank, America's Servicing company

  • Submitted: Tue, April 26, 2011
  • Updated: Wed, May 18, 2011
  • Reported By: Robert — Beaumont California USA
  • Wells Fargo Bank, America's Servicing company

    Des Moines, Iowa
    United States of America

Wells Fargo Bank, America's Servicing company Home stolen by these ripoff artists Des Moines , Iowa

*Consumer Comment: Yea Maybe so...


*Consumer Comment: There's a word for that

Show customers why they should trust your business over your competitors...

After trying for several months to a year or better to get a modification on my home loan, these crooks finally stole my home. I had sent documents over and over again, filed a Chapter 7 BK, so I would have only utilities and car note with good income, which I thought would help me qualify for the Mod. I received the "Declination letter" on Sat. 04/23/ 2011. It said I had expenses of over $6000.00 per month, which is impossible considering all my other debts had been discharged. On Mon. mourning, 04/25/2011,  my home went to sale and of course it went back to the bank. How is it possible, as many other folks have said, a company the size of WFB can be allowed to swindle the public so easily.
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This report was posted on Ripoff Report on 04/26/2011 08:19 PM and is a permanent record located here: 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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#1 Consumer Comment

Yea Maybe so...

AUTHOR: IceAngel - (USA)

Yes the name for it is Foreclosure...but it's the way the forclosures are done. In some cases the forclosures are honest ones,but in many cases its not.

ASC is just a collection agency for wells fargo or other banks that they deal with. They accept payments and forward to the bank your loans thru. Problem is some of those payments get to the bank late from ASC. So guess what? Bank recieves to late, late payment charged,which is taken from the payment you sent which makes your payment short. Try arguing with ASC employees.
They pass the buck by saying you need to contact the bank. Contact says well we got payment but was past due date,you say no ASC got money on time,they didnt send to you on time.
Bank says oh well then you need to send payment 2 weeks ahead that way ASC will be sure to send on time. Oh and by the way you need to catch up the payment.

Payments 450.00 a month but needs to be paid every 2 weeks if I dont want a late charge.
That makes sense. So in reality Im supposed to pay 900.00 a month. ASC says well you give us a post dated check for payment. I  call bank and say Id like to pay directly to you so you recieve payment on time.  Oh we cant do that bank says. Needs to go thru servicing company,they have all the records.

Since not on time we have now activated an escrow acct for your insurance (which was paid in full for 2 yrs) and for payment late. Paid late fee even tho wasnt at fault. Called ASC to give them acct info for 1 time payment for that month. ASC accepted payment. Payment  made was 3 days early.
Payment got to bank....late.   I fax proof.  Bank says sorry its between you and ASC. ASC says its in billing. Billing says oops.  Supposedly fixed it. Called in next payment. No problem. Next month no problem. Talk to live person each time,they pull up acct and accept payment.

Recieve a noctice that if payment of 1800.00 isnt paid would put home at risk.  What?
ASC  says oh your payments have been late and since you only put in the exact amt the late charge is taken from house payment. 6 motnhs and house is 3 months behind?  Uh no? Fax proof.
Sorry but its not their fault it wasnt sent exactly on time to bank. But you recieved payment on time..records right?  Yes but bank says they need it on time. Call bank, (Wells Fargo)Oh well we arent the bank. We work for Deurtench bank or something.

Bottom line...home lost.

They are crooks. But apparently its legal to do it that way.
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#2 Consumer Comment


AUTHOR: mr rik - (USA)

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#3 Consumer Comment

There's a word for that

AUTHOR: coast - (USA)

"How is it possible"

There's a word for that... Foreclosure.
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