Report: #389946

Complaint Review: Wells Fargo Home Mortgage

  • Submitted: Mon, November 10, 2008
  • Updated: Mon, November 17, 2008
  • Reported By: Ellenville New York
  • Wells Fargo Home Mortgage
    PO Box#14411
    DesMoines, Iowa
    U.S.A.

Wells Fargo Home Mortgage Appraised a new home ,granted a high interest mtg.home was left unfinished,now refusingto modify loan ,lower rate ,grant equity DesMoines Iowa

*Consumer Comment: Builder's problem.

*Consumer Comment: Builder's problem.

*Consumer Suggestion: Who was the builder?

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I purchased a package deal modular home with property, which Wells Fargo had appraised 3 times, granted a mortgage and after closing, home was left with major drainage problems, undrinkable water ,sewage system leaking and ground water flooding into basement, well, undermining driveway. Wells fargo takes no responsibility. builder never returned. attempts at refinance, accessing equity, lowering interest rate, have not been granted.

Instead i receive daily phone calls stating i am one month behind on my payments, after i had asked they extend the life of the loan by one month. i may well walk away from this disaster,as there has not been one government agency who will address this disaster. I have maxed out my credit cards, am now seriously behind, allbecause I had to finance all the unfinished work and repair what the builder failed to do. I can"t sell it, rent it or maintain it much longer.

How can they get away with "stiffing" me from the outset? I am a retired nurse who has to continue to work in order to eat and pay all the expenses on what was to have been a maintenance free,affordable home. Incidentally, all the housing inspectors passed inspection in order to obtain a certificate of occupancy and make sure that the contract closed. They now, wash their hands of any responsibility.

5goldens
Ellenville, New York
U.S.A.
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This report was posted on Ripoff Report on 11/10/2008 09:36 PM and is a permanent record located here: http://www.ripoffreport.com/reports/wells-fargo-home-mortgage/desmoines-iowa-50306-3411/wells-fargo-home-mortgage-appraised-a-new-home-granted-a-high-interest-mtghome-was-left-389946. 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:
0Author
3Consumer
0Employee/Owner

#1 Consumer Comment

Builder's problem.

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

I agree with Robert. The company who loaned you the money to buy the home is not at fault here. You should be going after the builder of the home. Most homes have at LEAST a full 1 year warranty, and many for longer after that. Complain to the builder if you have issues with your home which are preventing you from making payments.

Also, I'd encourage you to contact WF and let them know what is going on. If you cannot make your payment for any reason, talk to them about it and see if they can do anything.
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#2 Consumer Comment

Builder's problem.

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

I agree with Robert. The company who loaned you the money to buy the home is not at fault here. You should be going after the builder of the home. Most homes have at LEAST a full 1 year warranty, and many for longer after that. Complain to the builder if you have issues with your home which are preventing you from making payments.

Also, I'd encourage you to contact WF and let them know what is going on. If you cannot make your payment for any reason, talk to them about it and see if they can do anything.
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#3 Consumer Suggestion

Who was the builder?

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

Why are you blaming the lender for what is wrong with your home?

Who was the builder and what actions have you taken against the builder?

Seems to me your complaint should be about the builder of your home.
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