WELLS FARGO HOME MORTGAGE Ripoff Reports, Complaints, Reviews, Scams, Lawsuits and Frauds Reported

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1, Report #609355
Jun 02 2010
06:20 AM
wells fargo home mortgage wells fargo wells fargo home mortgage Internet
i closed on my refinance at the end of january 2010.  i wAS SUPPOSED TO RECIEVE AN ESCROW repayment check in the mail an have never recieved it.  i have perfect credit and i made my payments faithfully.   there is no reason for the hold up of the funds except for the fact that the bank wells fargo is holding my money for their own financial gains.  they are earning interest on my money!!!!  it is now june 1st 2010 and i have not recieved the money that is owed to me.  i will not rest untill these pukes give me the money that is owed to me.  i will make major waves for these people if they do not come to jesus and pay me the money that is mine due to my refinance refund on my escrow account.  i have called them and they say the check is in the mail.  where i come from this is lie #1.....
Entity: , Internet
2, Report #404687
Dec 24 2008
01:44 PM
Wells Fargo Home Mortgage ,Wells Fargo Home Mortgage-Total confusion for homeowner assistance Internet
This has been a very difficult year for many people. My wife died of cancer almost 5 months ago and I was the primary care giver for 5 months before that and unable to work. My job is in the financial services sector and on straight commission and needless to say even when I could work, there has been very little business. I had money in savings, but through medical expenses and no work, it has been depleted rapidly. I have contacted Wells Fargo Home Mortgage several times about either reducing the rate on the mortgage and principal balance based on a conservative 30% drop in home values (based on my direct conversation with a county tax assessor and may be more than that with an epdemic of foreclusres in this area). They had no programs available for assistance and finally referred me to HUD and Hope for Homeowners. I ended up with another number that went to their collections department. They said any adjustments made would adversely affect my credit and any reduced rate of payment, the interest lost would be added back to principal. In essence, they were offering nothing and destroying my credit rating. I have not fallen behind on my mortgage yet but on the edge. I didn't want to go into default and completely wreck my credit rating and had thought about not making a payment for 90 days, but reading through some of the other entries, Wells Fargo either doesn't get what is going on in the market or they want to be owner of the largest number of homes in the US. They indicated that there was a magical date on their calender of December 16th that they were introducing a streamlining program that might help-haven't been able to get any more information on that. People in their refinance department also have no information about assistance to struggling home owners trying to meet their obligations but find themselves in dire circumstances. I really should have known better than to go with Wells Fargo. Before I did this large mortgage with them, my son went in to one of their branches locally to get change for a $100 bill before we went to the local farmer's market. They would not give him change for a $100 bill because he didn't have an account with them-great PR and winning business. He wasn't cashing a check. Total inflexibility and confusion on their part has lead to frustration and not knowing what to do next. Lee Redding, California Lee Redding, CaliforniaU.S.A.
Entity: Internet
3, Report #578260
Mar 04 2010
05:36 PM
Wells Fargo Bank - Wells Fargo Home Mortgage Wells Fargo forces foreclosure on me Fort Mill, South Carolina
My mortgage payment per month went up due to property taxes. At the same time my salary went down. I tried to work out a payment that I could afford. They would not help me unless I missed 2 payments. I missed 2 payments. They put me on a 3 month trial modification. The 2nd payment I sent them, they sent back. They claimed that amount did not represent the amount due. It is the payment they asked for.  They sent a letter telling me to do nothing while they review my account oh but keep making the payments. How can I make a payment when I don't know how much to send in? I get another letter stated they are not going to modify my loan. I tried numerous times calling them to work something out. The next letter is stating they want almost $14,000 from me by Feb. 9th. Once again I called them to work this out. The latest letter is they are turning me over to their attorney. This is fraud and I'm considering suing this company.
Entity: Fort Mill, South Carolina
4, Report #434820
Mar 16 2009
02:56 PM
Wells Fargo Home Mortgage Warning: Wells Fargo charges fraudulent late charges Dallas Texas
A warning to all who have a mortgage with Wells Fargo. For years, I have been paying late charges because they say this haven't received my payment before the large charge cut off date. Well, It takes all my other mail one, maybe two days to get to Dallas from here. So, last year, I started spending $5.32 a month to send my payment certified, return receipt requested. Guess what!! Four out of the last five payments were received before the cut off date and posted later, causing a late charge. I now have proof!! On my bill and on their web site it states: Disclosure: Late charges are assessed after the close of business on the assessment date and only after all payments received have been applied. hahahahahaha I prefer to pay the $5.32 a month to the post office rather than $30.00 to Wells Fargo anyday!! Sue Tyler, TexasU.S.A.
Entity: Dallas, Texas
5, Report #740224
Jun 13 2011
02:15 PM
Wells fargo Wellsfargo home loan, Wells Fargo Financial Wells Fargo Stole our Home Internet
Wells Fargo Stole Our Home I was negotiating with WF Financial for close to 2 years, I paid the negotiated temporary payments according to the plans agreed with Wells Fargo well before the due dates, I have pages of documented log entries of contacts with WF representatives for requests for new financials and updates and kept checking back and was told your loan modification application is being reviewed and later Loss Mitigation informed us that the Foreclosure department sold our home at an auction, I found out about the sale after the auction, I was not informed at any time they were auctioning the house I was living in with my wife and kids for almost 9 years and at no time was given any information they were auctioning the house or even any notice of their intent, as a matter fact I spoke with a Wells Fargo agent 4 days before the auction and the agent did not tell me about the sale, and I thought the negotiations were successful and the loan modification was almost done, since they had approved my second mortgage for modification! This should not be happening since I was negotiating in good faith with WF and having paid all the payments they had asked for and every piece of information and financial documents WF requested for was sent to them, they kept asking for duplicates and paychecks and paystubs over and over again, I filled out all requested financial documents. But apparently this was only a tactic and their aim was never to honor their agreements. The executive office representative or specialist told us they will check but never informed me of their findings, kept telling me they will get back to us next business day. Wells Fargo stole my home and sold it to another company who will flip it and make money on it; I lost my house that I owned for almost 9 years and worked very hard to keep it up and remodeled it with care. I know I am not the only one who has lost a home because of WF they seem to be doing this to others, I am hoping to spread the word so others don't fall for WF scams, so we'll see how that goes, but we are afraid for the next family that is told don't worry your application is being reviewed and ends up, losing their home too.
Entity: , Internet
6, Report #467558
Jul 08 2009
03:35 PM
Wells Fargo Mortgage - Wells Fargo Cost my boys their home Albany New York
I was court ordered to refinance or sell my house in my divorce. 4 months ago I applied. I have contacted the executive complaint department which got me no where. I explained to them my situation. I told them 2 months ago if this refi did not go thru shortly my children would lose their home. The only home they have known. They don't care. I still don't have an approval. NOw they want Divorce decree, more info on my 2nd job, and me to resign all new papers as they are outdated. Then to top it off they tell me they are still not sure they are going to lend me the money. And even if they do decide it is going to take much longer as they are soooooo busy. So thanks Wells Fargo you have forced me to sell in a market that is soft. I will not make enough to be able to purchase my sons another home. And at this point don't even know where we will live. Thanks a lot. You could care less the lives you mess with. Hope you all sleep well in your comfortable houses and beds. Let me add this. I have worked 2 sometimes 3 jobs over the past 2 years to save my children from having to move. I am not late on any of my bills. Yet lets bail out people who over extended themselves on million dollar houses. What about us hard working mothers. I worked my backside off these years for what? I will be a failure in my kids eyes no matter how hard I worked. Thanks again. Devvy scotia, New YorkU.S.A.
Entity: Albany, New York
7, Report #379515
Oct 08 2008
06:47 PM
WELLS FARGO WANTS TO TAKE YOUR HOME AWAY?? Wells Fargo Wells Fargo USELESS!!!!! United States Florida
Well, I haven't been able to make a mortgage payment since last November - 2007. I have had my house listed for almost 2 years and have had 4 - YES 4 - short sale offers and I lost them all. I have a realtor who wants to scream every time she negotiates with Wells Fargo. Nobody seems to know what the correct protocol is in order to get this done. Each time we have provided everything they ask of us and each time they either ignore everything and actually tell us that we never submitted the necessary paperwork OR they deny it right away! I have lost every opportunity to make this house sell! When I call Wells Fargo to work something out, they hang up on me!!! I have literally been placed on hold for 42 minutes and never been picked back up, I have been hung up on countles times, I can never get a supervisor on the phone, and the people who seem to be nice NEVER know what's going on. I have literally been told this whole foreclosure thing is so new that we don't have procedures in place to be able to handle you. WHAT?!?! I am so frustrated, I have no hope to try to get out of this house in any way other than a foreclosure. Their most recent reason for denial of my short sale was that Wells Fargo didn't feel that my financial situation warranted assistance. Did I mention I haven't paid my mortgage in nearly a year!!!! My ARM went up from $1200 monthly to $3500 monthly. Who wouldn't need assistance?!? Somebody please let me know if there's help for us pending foreclosures! Alicos west palm beach, FloridaU.S.A.
Entity: Florida
8, Report #536679
Dec 09 2009
02:52 PM
Wells Fargo Bank - Wells Fargo Home Mortgage Loan Modification Ripoff Internet
Hello,My wife and I purchased a home in February of  2007 with Market Street Mortgage as our lender. About six months later we were sent a letter in the mail notifying us that Market Street Mortgage was going out of business and that our loan would be transferred to Wells Fargo Home Mortgage. In January of 2008 my wife was laid off from her job and we started to get behind on our mortgage payments. We contacted Wells Fargo Home Mortgage for assistance and they told us we were eligible for a loan modification program. The modification program required us to make four consecutive payments at an escalated rate from that of our normal monthly payments, to show that we were able to make adjusted payments on time. We were told that once the fourth payment was made that we were to stop all payments on the account and wait for the account to be sent to a Wells Fargo  negotiator who would then draft a modified loan. This modification would consist of adding the past due amount of the current loan to the back of the new modified loan, and require us to begin making payments on a new modified loan. It took four months for Wells Fargo to reach a decision on our loan modification. This means four months of not making a payment at the instruction of our lender. We were told by Wells Fargo four months later that we were denied a loan modification because we did not make the last payment in a timely fashion. We were told to reapply for a loan modification and to start the process over from square one. The reason they provided to us for denying our loan was a flat out lie, and a sign of things to come from this fraudulent lender. So we applied for another modification plan and this time agreed to pay an even higher escalated rate of four consecutive payments because our past due amount had risen. Remember we were told by Wells Fargo to stop payments for four months. So we begin paying another four consecutive payments and fulfill this agreement on time. We called and spoke to a Wells Fargo associate who informed us that they had received our final payment on time and that we should be hearing back from them within three weeks on what the terms of the new modified load would entail. They instructed us to stop payments once again until the new loan was drafted and agreed to. Two months had passed and we hadnt heard anything from Wells Fargo so we contacted them. We were told that our loan modification was denied agian. This time we were told that the reason we were denied was because we never called them back to set up a modified loan. This was an outrageous claim rendered by Wells Fargo because all along we were told that they would contact us once the terms of the modification were complete. At no time were we told to contact Wells Fargo and request our file to be sent to a negotiator. We disputed this claim with several Wells Fargo associates but were simply told that we had to reapply for another loan modification. We agreed to try the process one more time in hopes of simply gaining a modified loan so we could start making payments on our home. By this time our home was  $15,000 past due mainly because Wells Fargo had instructed us to stop making payments for eight out of the twenty months we were living in the house. We started the four consecutive payments process once again and reached the end fulfilling all obligations. We called Wells Fargo every week to confirm a decision on our modification but no answer was given. We were simply told to not make any more payments and that our file was being reviewed by a negotiator. Finally, after two months we were told by a Wells Fargo representative that we were APPROVED for a loan modification and that we should be receiving the new terms of the modified loan in the mail within 7-10 business days. After a month of not receiving the new loan agreement we contacted Wells Fargo and were told that the loan modification was denied because we allegedly had a second/junior lien on our home. This is another false accusation conjured up by Wells Fargo to prolong our loan modification process and increase the amount due on our loan. I am ready to take legal action against them because enough is enough. Please avoid Wells Fargo as a Home mortgage lender at all costs. They will make it seem like they are willing and able to help you when you need assistance, but do everything in their power to throw road blocks in your way.
Entity: Internet, Internet
9, Report #507433
Oct 10 2009
07:24 PM
Wells Fargo Bank, NA - Wells Fargo Home Mortgage Poor Business Practices Des Moines, Iowa
I applied to refinance with my mortgage company Wells Fargo. I wanted to refinish my basement so I applied for the 4.5 interest rate, and wanted to borrow $20,000. My principal at the time was about $110,000 which is less than half the value of the house. The agent told me my credit report came back excellent. My income was also good. She said there would be no problem processing my loan, and it would take a few months. I paid $356 for an appraisal. I called them for the next 5 months. They would only reply a few times to tell me my loan had expired, and I needed to resubmit my paperwork. I complied everytime. In the meantime I had to obtain a seperate loan to finish my basement. They finally contacted me 5 months later to notify me my loan was rejected. I would have never paid any money if I thought there was any chance my loan would be denied. I also would have not bothered to borrow money from them if I knew it would take 5 months. They sent me a counter offer for half the amount. I told them I no longer need the loan, but would like to refinance for the lower interest rate. They said this would not be a problem, but then told me I would have to pay 4-5 thousand dollars. I explained that I'm not a new customer. I'm not taking any money out, and Wells Fargo messed up the loan in the first place. I cancelled the loan, and asked for a refund of the $356. I work hard for my money, and Wells Fargo has no concern for its consumers. They promise you everything, and once they get their money they could care less about you.
Entity: Des Moines, Iowa
10, Report #602403
May 12 2010
07:06 AM
Wells Fargo Bank, NA-Wells Fargo Home Mortgage loan modification RIPOFF des moines, Iowa
I got involved becuase wells missed 3000.00 in escrow payments and blamed it on my taxes going up. They did not, but anyway i had to pay so i applied at there suggestion for a loan mod.also my current int. is over 6%, So the process takes over 9 months all the while theyre telling me not to pay monthly note while in program??? the temp. pymnts are 600.00 less a month than my reg. mortg. nice right, but at the end of process i receive a call from the loss mitigation dept. informing me idonot show enough income to be considered, 9 months later??. So being hourly paid i received o.t. 8 hrs. in 2 wks. sent the paystub in and 3 days later received my denial letter based in my new income... So while in the program i was paying only mod. pymnts. which added up to now being delin quent 6500.00 dollars, which of course they now want there money immediately,meanwhile they report you to credit beureus ruining me so i cant refi. somewhere else. they did offer me an inhouse mod. for 175.00 less a month than current pymnt. but add 15 yrs. to mortg. [ i said NO] the worst part here is ive been to pa. atty. general, treasury, my congressman, senator the o.c.c., h.u.d, and have had the same response. They do not have the authority to act against this co. i have to hire an atty.????? the atty. general needs multiple complaints before acting.They all tell you they only write policy they donot enforce them..  so i encourage everyone reading this to refi. A.S.A.P with someone else. not wachovia because wellsfargo bought them with gov`t bailout money...
Entity: des moines, Iowa
11, Report #577958
Mar 04 2010
11:01 AM
Wells Fargo Bank - Wells Fargo Home Mortgage No help at all Des Moines, Iowa
I have had some issues that are closely related to what I have read on this site.  We bought our home in April 2008 and our first payment was due in June 08.  As of July 08 my fiance found out that he was going to be laid off for an indefinate period of time.  We made a couple of payments ok but by Oct 08 we were starting to fall behind.  In Dec 08 we were 2 payments behind and I was very concerned that we were going to lose our home so I called to make payment arragements to try to catch up.  At that time I was told to pay roughly $250.00 extra a month (which was hard since we were having trouble making the normal payment)  but I started sending a little over 300 extra a month.  I was told in January to make the regular payment and start the overpayments in Feb 09 with my last payment to be due in Oct 09.  At the time of this my payments were $1097.59 but I was sending an even amount of $1400.  Which for anyone that has ever gone to school you know this is 302.41 over my payment.  I then received a Escrow Disclosure Statement which stated that I had a surplus of $923.12 to which they had deducted 87.80 in late fees from this to leave a balance of $835.32 and if my loan was current they would send me a separate check for this amount and that my payment was going to go down effective 04/01.  I continued to make the $1400.00 a month payment for 6 months which gave me an extra $1800+ that I thought would go toward my overdue payments.  I then sent a payment of $1360 in Aug 09 which was returned to me with a letter that said I did not have a written agreement with them and they would not accept my Aug payment.  In Sept 09 I called an spoke with someone in the loss mitigation dept and he said I had been removed from the repayment plan and he would set me up on another plan.  I then asked him why I had paid all of that extra money but my overdue payments NEVER lowered to which I never did receive any kind of explination. He did proceed to tell me that I had $712.00 in a suspence account and he would connect me to the CS dept after we were done.  I then gave him all of our information and made a payment by phone for $1200.00 to come out the end of Sept 09.  He asked me to pay $1600.00 a month starting in Oct 09 and ending Dec 09 and that would make me current.  I was then connected to the CS dept and spoke with a man named Richard who told me that after my Sept payment went though I would have appox $827.00 in my unapplied fund account and I could just add enough money to it to make my payment.  In Oct 09 I called CS again and was told that I did indeed have $827 in my suspense account and I made a payment of $800 with a check by phone.  I received a confirmation number and as far as I was concerned I had just made a $1627.00 payment as I had agreed to do.  A week later we received a call from Wells Fargo to inform us that we had been removed from the repayment plan due to we were late on our payment.  I then called CS again and explained what I had been told by another CS rep and was then told that I could not use this Suspense or Unapplied money to make my payment and that I had only made a partial payment.  I then was sent back to the Loss mitigation dept to discuss how to make my account current.  I then spent hours on the phone trying to get someone to explain to me where my extra payments had gone and the Loss Mitigation Dept told me they did not have access to view my payment history and that I would have to call CS to discuss this with them, but once I get on the phone with CS they say I need to discuss this with the Loss mitigation dept and they tell me to request an Audit on my account and for me to figure it out and call them back.  I have talked to at least 20 different people and still NO ONE can tell me where the extra payments are.  Why my overdue payments never go down. Why when I call in Sept 09 I have $712.00 in my Suspense account, and in Oct 09 I have $827 and in Jan 10 I only have $500.  So where is all of my money?  Is it in someones pocket?  Why do I have a Escrow Surplus of $900.00 but I can't use it to help catch up on my payment?  Why am I being told by one CS rep I can do one thing butI am being told something totally different by someone else in the same dept?  There is no way to contact just one person.  I was told the other day by the CS dept that I can call Loss Mitigation and ask to talk to a Sup and that they can get a copy of my payment history and they have a direct line, so while I was talking to the Supervisior I asked him this and he said No I could not talk to any one person.  he did tell me that he would look into it and call me back.  That was 3 days ago and guess what?!?!?  No return call.  I am at a loss as to what to do now.  If anyone has any suggestions I am in desperate need of some advise.
Entity: Des Moines, Iowa
12, Report #639598
Sep 10 2010
10:33 PM
Wells Fargo Home Mortgage ASC Mortgage Problems, Internet
God said his people fail for lack of Knowledge-  If you start out by doubting then you should not pray and worry.. First thing you need to do. (forgive those people who is applying payments to your loan)    Know this is a challenge- the more you're upset the worse it seems..  (seems).  It's will cost most consumer less than  $150.00 to take Wells Fargo to court.   It will Cost Wells Fargo $3000.00 to go to court, lawsuit filed by the consumer. Wells Fargo records all their phone conversations.  You will file an appeal or lawsuit based on false proof of claim.. (perjury) everything Wells Fargo Submit to the courts must be the truth. Go online finds some other consumer complaints.  (((link redacted))) 1. Wells Fargo (phone number) 612-312-8550- Fax 8662781179. (Wells Fargo) Internal Number 800-377-1112 (no one should have this number unless you work for  WF 2. ASC direct phone number (877-222-7875) option 3 and option 3 3. If Wells Fargo comes on the line, ask to be connected to ASC customer service, be sure Wells Fargo stay on the line until you are connected with the rep from ASC. Get the file number, You must find out who does Wells Fargo use to be served their court papers in the state you live in, you can get this either from the Secretary of state.  Send everything federal/usps express with delivery confirmation and signature. Have all your document ready to place with the lawsuitonline www.wellsfargo.com/taxes  for all your statements, phone records-example cell phone records. Remember your Principal and interest must add up to the payment schedule.  1 Example: If you pay your mortgage, but you are running behind or your escrow is short, Wells Fargo, ASC cannot stop paying your principal and interest to pay for the fees and escrow.. Principal and Interest is always paid first, even if youre behind. Say you paid 12 payments in 2008, and your principal and interest should be $ 8634.88, but Wells Fargo on credited you on  $6213.90   on your end of the year 1098.  (this they cannot do) This is a known practice with some mortgage companies, I know with Wells Fargo.  Bryan Glidden 1500 Surveyor Blvd Suite (1750) Addison Texas 75001 Wells Fargos collection/foreclosure Attorney (Amy) 972-341-0613 Dear Honorable Judge:   Your file Number & Court document lawsuit number    Suing Wells Fargo for Filing a False Proof of Claim     Wells Fargo- ASC have continue to misapplied my payments, failed to record the correct information ASCs Wells Fargo  agents, failed to follow customer written instructions, failed to communicate with the My name is , sent mortgage statements that were incomprehensible and frightening, began collection and foreclosure letters calls, and engaged in a litany of mismanagement of the My name is  loan . Wells Fargo place/forced My name is to be on a special forbearance plan without proper documentation , My name is while My name is asked for a loan modification, Wells Fargo/ASC had started foreclosure procedures  collecting undisclosed fees, without My name is knowledge. Each time My name is would call Wells Fargo-she would receive a different answer. Wells  Fargo filing false proof of claims with inaccurate and excusive and unauthorized charges and fees and misapplication of payment, payment reduction and escrow shortage which will are filing false proof of claims with inaccurate and excusive and unauthorized charges and fees and misapplication of payment, payment reduction and escrow shortage which will result in post foreclosure following my successful cure of debtor obligation in my plan.   On ________________ I  contacted Wells Fargo concerning a payment Which had not post to My name is, Wells Fargo took the payment over the phone, the rep for Wells Fargo states the check were returned, at that time My name is ask for the check to be redeposit, Wells Fargo told My name is check are only deposit once.  Wells Fargo had sent automated phone message stating I missed a payment-so when My name is would send in another check Wells Fargo would redeposit the additional check, which would result in mores fees from My name is payment. Im requesting the letter be placed in the court file of my property.  While Im waiting on my appeal.  
Entity: , Internet
13, Report #701774
Mar 02 2011
01:37 PM
Wells Fargo Home Mortgage Co. Mortgage Modification Scam Minneapolis, Minnesota
I became disabled and totally unable to work which cut my income to exactly 50% of what I was making when I financed the house.  I have been working with Wells Fargo Home Mortgage Co. trying to save my home for nearly two (2) years  now. First it was through the HAMP government program (which after about a year they decided I did not qualify for), and then through the Mortgage Modification Program.  It's all a scam! I was advised the mortgage modification would be free (see below), and  that an appraiser would be sent out (never happened).  They advised me there were several ways the loan could be modified i.e. reducing the interest rate, or extend the loan  to lower the payments, etc. I was required to continue making the same payments throughout this period and every month I was required to provide proof of income, a financial worksheet, and a letter of hardship. In order to be able to make the original payments I had to stop taking at least half of my medications, not go to the doctor when needed, and borrow money from family & friends, etc. I got the modification papers in the mail yesterday.  They want me to sign, and have notarized, the paperwork by return overnight mail. In addition they are requiring a payment from me in the amount of $1,175.12, and they are also requiring (by phone) a contribution payment of $553.87 (I wonder where that goes?). The only change in the mortgage is an additional $7,401 added to the unpaid principal on the note, and the maturity date has been extended 10 years. The monthly payment is unchanged. This is a scam in the most extreme form! For months I have made these payments which has gone directly into their pockets. I want to know of any Class Action Law Suits against Wells Fargo in the state of Texas, as well as who the overseeing agency is, and who to contact to file a formal complaint.  
Entity: Minneapolis, Minnesota
14, Report #203253
Jul 27 2006
04:34 PM
Wells Fargo Home Mortgage STOLE MY HOME Des Moines Iowa
I made the mistake of refinancing my home with Wells Fargo Home Mortgage in March of 2005. WFHM stated that they would not only help me geat a better Mortgage Loan interest rate, but would also assist me in consolidating my credit card debt and improving my credit score. On the day of the closing for the refinance, everything changed. The 6% loan I was promised was now an 8.875% ARM, the FHA Loan was now conventional, and now there would be a pre-payment clause too. Because I was badly in need of the loan, I went ahead a closed, not knowing what a nightmare I was getting into. One month later I was terminated by my employer and the nightmare began. I contacted WFHM to discuss my situation and was told because my loan was new, WFHM could not assist me in anyway. On July of 2005 WFHM started forclosure. On September of 2005, I received a letter from WFHM that EMC Mortage was now servicing my loan. I filed for bankrupcy in April of 2006, and now I just learned that the bankrupcy did not help me save my home, and worst yet Wells Fargo Home Mortgage purchase my home at forclosure auction for $197,000, $13,000 more than I had refinanced. The home is valued at $240,000 a $43,000 loss of equity for me, and profit for WFHM. This is the last asset I owned, and my credit is ruined for the next 10 years. I feel Ripped-Off by WFHM! Paul Lakewood, ColoradoU.S.A.
Entity: Des Moines, Iowa
15, Report #164104
Nov 10 2005
04:09 PM
Wells Fargo Home Mortgage ripoff, has cost us plenty!! Saint Louis Missouri
We can relate to the couple who filed Chapter 13 BK hoping that the court would protect them and have gotten ripped off for their trouble!!! We refinanced our mortgage with Wells Fargo in 2003 with our first payment due in November, 2003. My husband lost his job after 17 years in 2001 and I was laid off againin September, 2003 so we filed for BK after years and years of financial struggle. We originally filed for Chapter 7 BK since we intended on re-affirming our mortgage and one car. We voluntarily repossessed our other car with (competitor's name deleted - see below), who, by the way, was EXTREMEMLY PLEASANT, EFFICIENT and PROFESSIONAL. Our bank seized the money our checking account since we owed on a credit card. Because of this, our first payment check to Wells Fargo bounced and because we couldn't get the bank to release the funds they seized which exceeded the amount we owed, we went into first payment default. We immediately contacted our attorney who changed our Chapter 7 to a Chapter 13 on December 4,2003. Pay attention to the dates. The BK court issued an automatic stay which forbade creditors from collection actions against us, reporting lates which had occurred after the BK filing and forced the creditors to submit their claims and adhere to the agreed payment plan administered by the TRUSTEE. I wonder where the TRUSTEE of the BK court is for that poor couple who are getting extorted thousands by Wells Fargo? Wells Fargo sold the servicing on our loan to EMC Mortgage in July, 2004. (see our complaint filed on EMC Mortgage) We were never contacted by Wells Fargo regarding our payments but dealt exclusively with our attorney and the Trustee. Finally, in September, 2004, after being laid off again, we decided to sell our house and look for work in another state. My husband liquidated the last of his retirement so that we could have money for moving expenses and closing costs on another house. We contacted our attorney and the Trustee and jumped through all the appropriate hoops. When our credit report was pulled in association with our application for a new mortgage (our house sold quickly and closed in December of 2004) we were horrified to learn that Wells Fargo had reported five six mortgage lates, did not show paid off and did not note that debt was included in a Chapter 13 BK. We're fortunate that my new employer didn't run my credit because many people in the financial and banking field have been denied employment due to credit issues. We couldn't get a mortgage anywhere from anyone. Even FHA turned us down. Finally, after sending BK papers and schedule F's to the credit reporting agency several times, we hired an attorney. We learned that Wells Fargo reported lates on our mortgage in 03/03 through 07/03. We didn't even have a mortgage with them until 11/03. So, almost $500 and eight months later we pull our credit report and the 2003 lates are gone but we have five 150 day lates reporting from January, 2004 through July, 2004. Notice the report claims 150 days date in January of 2004 when the first payment was due in November of 2003. Do the math!!! That's 60 days not 150!!! So. again we are denied credit although, miraculously, we were able to buy a house but only after we used the last of my husband's retirement to pay off and discharge the BK. I don't think they saw they new reporting before we closed!!! So, we can pay the attorney more money, which we don't have, or fight them ourselves. I've written to Wells Fargo but, as yet, there has been no reply. Figures . . . This is a real racket!!! The creditors have no incentive to report correctly to the bureaus because they can charge higher interest rates even if you're late on another creditor's debt. You don't even have to be late on a particular account to get the default interest rate of 30% or more!!! (read the fine print on your account agreement. Banks and credit unions exercise this right too) The credit reporting agencies charge consumers, through brokers and lenders, to verify or correct the information which is erroneously reported which fees get passed on to the poor borrower!!! Everybody, especially the attorneys, makes money except the consumer!!! Oh, yes, you have the right to contact all three bureaus and dispute any information on your credit report but YOU HAVE TO PROVE THAT THE INFORMATION IS WRONG!!! The burden and expense of proof is on the party least able to afford it!!! which is why these abuses continue!!! We, like many other American families, are just trying to get out of the hole we keep getting pushed back into and neither our government bureaucracies nor elected representatives are any help. Consumers unite!!!! Hold these people accountable!! Remember, we pay all of them plenty!!! Make them earn it!!! Don't let them RIP YOU OFF!!! Barbara Weiser, IdahoU.S.A. Click here to read other Rip Off Reports on Wells Fargo Bank sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.
Entity: Saint Louis, Missouri
16, Report #65143
Aug 01 2003
10:33 PM
Wells Fargo Home Mortgage The lying is intentional San Bernardino California
Ever try to get a straight answer out of Wells Fargo about your mortgage? Ever have it happen that you get six people who have 10 different stories? Here's proof it's lying and it's intentional. This is a job description I found on their website. Especially note the part where they are required to understand and apply investor guidelines. You have to appreciate their twisted sense of humor in this, though, because this talks about financial counseling when it is a collections department. There is no counseling involved in any of it. When you call, you have to listen to 5 minutes of them telling you they are asking for information to collect a debt before you can ever get to a live person. Discipline Loss Prevention Division Home Mortgage Location California Job Description Part Time Call Center environment position which entails 5 hours per day with varying shifts available M-F from 6 AM-12 PM or from 3 PM-8 PM and Saturday's from 6 AM-2 PM at the San Bernardino CA home mortgage campus. On the phone solving customer issues and collecting on delinquent accounts. The objective is to provide assistance and/or financial counseling to delinquent borrowers to determine appropriate repayment plans and foreclosure alternatives. Maintain Department standards related to incoming and outgoing phone volume and service excellence. Understand and apply investor guidelines to minimize delinquencies. Perform miscellaneous duties as assigned or required. Ability to work a flexible shift. Becky Minneapolis, MinnesotaU.S.A.
Entity: San Bernardino, California
17, Report #64370
Jul 22 2003
11:46 AM
Wells Fargo Home Mortgage ENHANCEMENT PROGRAM ripoff fraud business Des Moines Iowa
I am in the middle of a lawsuit, fraud charges and other problems with Wells Fargo Home Mortgage. It may surprize you that Wells Fargo contracts a company called PayMap. When you sign up for Wells Fargo Enhancement Program you are signed up with a company called PayMap. You are not told this information and it is in NONE of your paperwork. Paymap takes a certain amount out each week and puts it toward your mortgage. Then pays the mortgage the following month. PayMap are the people who handle any payments involving checks, credit card or other electronic payments. I do not have electronic withdrawl. In January PayMap started taking out weekly payments for my mortgage. This was done without my knowledge, without written or verbal consent. I called Wells Fargo every weekend to tell them to stop doing this. I did not know or was ever told that PayMap was responsible for this. Because of these Unauthorized withdrawals, my bank account became overdrawn, I couldn't pay the mortgage, taxes, car etc. WHAT A MESS. I found out about PayMap a few weeks ago and I am furious. The whole time I thought I was discussing my mortgage problem with Wells Fargo, I was being transferred to another department. another company actually, PayMap. Wells Fargo has told me that PayMap would have identified themselves on their notices. not true. Everything coming from PayMap is on Wells Fargo Letterhead. I am STILL trying to find the president/ceo of Wells Fargo information. no luck yet. So a word to the wise. If you have WFHM for your mortgage or any other company it might be PayMap. It is owned by First Data. You can go to either website and find the companies they work for. as for me? I am pursuing all legal action I can. They should not be allowed to access my checking account without my permission. If I did that I would go to jail! Stephane hagerstown, MarylandU.S.A.
Entity: Des Moines, Iowa
18, Report #71392
Nov 08 2003
08:09 PM
Wells Fargo Home Mortgage ripoffs Frederick Maryland
BUYER BEWARE!!! I am recently a new home owner since December 2001. It has been nothing but a big headache since. Wells Fargo has been a rip off artist to me. When I signed my closing papers I was given a Maryland address of Wells Fargo. When I received correspondance, it was several different addresses, states, numbers and different information. My house is currently listed on my credit report as in Foreclosure because of late fees that was charged interest on. On my mortgage papers that I signed at closing it never stated that I would be charged interest on my late fees. When I try to reach someone, I get a different person at a different office everytime. As a first time home buyer, I was unaware of fixed or flexible interest. I had poor credit and was happy to get someone to approve me for the loan. I paid over $10,000.00 down and this should have put equity on my home and it didn't. They got me on the interest rate. It starts off at 10.25% than has of Dec 2003- this year- they can change my interest rate to flexible and charge a hell of a lot more money and raise that interest every 6 months. This company is a ripoff artist. They are hard to reach but quick to put your house in foreclosure when it shouldn't be. Everytime you call someone you get a different person from a different state. I have talked to so many people and so many 1-800-#'s it isn't even funny. They also told me I could add my wife to the dead after closing when the paper work came back. When the paper work came back they told me because she was not on the loan, she couldn't be added to the deed. i would not advise anyone to get a loan through this company ever. They had started there business in California and are no longer aloud to do business there because they are so bad with the business bureau. I went to a local government runned business to get help with the late fee and they told me that they have so many cases against Wells Fargo. If I look in my local newspaper on Saturday or Sunday there are a lot of FORECLOSURE cases on people that have financed through Wells Fargo. If I were a consumer, I would BEWARE OF THE RIP OFF MORTGAGE COMPANY called Wells Fargo. Darrell & tammy Erie, PennsylvaniaU.S.A.
Entity: Frederick, Maryland
19, Report #359162
Aug 04 2008
05:33 PM
Wells Fargo Home Mortgage They collect escrow but can't pay the bills Corporate Pennsylvania
Wells Fargo requires an escrow account. I pay them every month and they draw interest on this all year. The first year they paid taxes and insurance. The second year the taxes weren't paid so when I notified them they had to pay penalties. Now my insurance company wrote to tell me my insurance had lapsed because of nonpayment. When I called they said they had paid them now but they must not have received a bill and if they don't receive a bill they don't pay. I thought this was a joke but when I emailed they put the same statement in writing. I explained to them that in the contract it states they will take care of these bills on time. If they don't want the responsibility then give me back the money and I will pay. I told them that was two strikes and the third I would pursue. I will never deal with a large company again for something this important. I believe someone should regulate and watch what they are doing. Denise Johnstown, PennsylvaniaU.S.A.
Entity: Pennsylvania
20, Report #753391
Jul 15 2011
11:14 AM
Wells Fargo Home Mortgage Escrow Shortage Fiasco! Des Moines, Iowa
Every year since we've had Wells Fargo they send us Escrow overage/shortage papers. We usually have a shortage and end up paying it in full or stretching it out over 12 months and our payments only increase a small amount. Well, back in April we were ecstatic when we actually got a letter stating we had an OVERAGE in our Escrow, our mortgage was going down, and there was a check for $417. I know that's not much but we were preparing to move at the time and it was a lot for us. Now, the house in on the market, we have moved (my husband is Military and had orders), we live in base housing now...don't get any BAH (housing allowance) anymore so our mortgage going down was a blessing to us because I knew we could make the payments still while we tried to sell the home. Well, now, we just received a letter from them stating we have a SHORTAGE in our Escrow for $1012! Keep in mind APRIL we got an OVERAGE letter and this new letter is dated JULY! So, we look it over and see that they had only allowed $58 for our Windstorm policy...which is actually $1070. So, we called our insurance to see if it was a mistake on their part. It was not, our policy has not changed at all since we've had them. So, they give me some pointers and we call Wells Fargo. My husband gets on the phone with them first since the mortgage is in his name. They talk to him and explain that they only estimated the low amount for our Windstorm as a mistake since our insurance had requested 2 separate payments last year. This year when they did the analysis they only accounted for the smaller of the 2 payments and that's why we got money back. Well, we raised our deductible with our insurance so we're getting $304 back. Wells Fargo then precedes to tell my husband our shortage is now $994 after lowering our insurance policy...that's only a $18 difference?!? There is definitely a problem there I believe. So, they then tell him to mail them the $304 check when we get it to lower that even more. He says okay and just agrees with what they tell him. So, then I ask to get on the phone to confirm everything. I get on the phone and they cannot explain why our shortage is only changing by $18. They cannot explain why they estimated wrong on the analysis and their only fix is for us to mail them the $304 and then they will stretch the $690 left out over the maximum of 60 months to help us out. (Yes, that's was nice I guess) They refused to take the blame for telling us in April we had overage and giving us money back and then turning around and wanting to take more money from us. Whatever employee did our analysis and estimated a YEAR LONG insurance policy to only be $58 needs to be fired. That's a HUGE mistake and now it's costing us an arm and a leg and we don't have it. So, words of wisdom, if you can avoid using them for your mortgage please do! They will screw you every chance they get. Please pray for us our house sells soon so we never have to deal with them again! Thank you!
Entity: Des Moines, Iowa
21, Report #687130
Jan 26 2011
02:57 PM
Wells Fargo Home Mortgage hidden mortgage insurance Des Moines , Iowa
After more than 2 years of applying with Wells Fargo Home Mortgage, the servicers on our home mortgage, for a home loan modification, and being denied, we have fallen behind on our payments and are facing foreclosure. In our first attempt to apply for the modification under HAMP we asked who owned our mortgage and were told the mortgage had been sold to a private investor and that information was confidental and we had no right to that information. When our credit score starting dropping due to credit card universal default and increased interest on those accounts a new charge starting showing up on our mortgage statements. This fee was classified as "other fees" in the amount of $20.00 per month. Noone at Wells Fargo could clarify that charge. What I would like to know is if anyone else has had unexplained fees added to their mortgage and if it is possible that Wells Fargo could have imposed a mortgage insurance on us without informing us. If this is the case would we have a dispute in foreclosure? I understand that mortgage insurance is geared toward protecting the lender and servicer however, my husband is now on a disability and I believe if there is a hidden mortgage insurance our payments should have been covered by that insurance since the time we notified Wells Fargo of our need for a modification due to decrease in income due to his disability. Also, at the time of the loan origination as shown in our settlement papers, we paid a fee for lenders insurance. Is it possible that our payments should have been covered? I suspect now that Wells Fargo as servicer and US Bank National Association as successor Trustee to Wachovia Bank, National Association as Tustee for the holders of MASTR Alternative Locan Trust 2004-10 may be fraudulant in their claim of foreclosure. Any answers to this question of the possiblity of hidden mortgage insurance would be appreciated.
Entity: Des Moines, Iowa
22, Report #686830
Jan 26 2011
12:04 AM
Wells Fargo Home Mortgage Increased monthly payments claiming unpaid property taxes. Davenport, Iowa
Back in August 2010 I received a letter from Wells Fargo Home Mortgage regarding a delinquent real estate that was supposedly reported to them. I contacted them advising that I was NOT delinquent and was advised to fax proof showing that I was current with my taxes to my municipality. I did fax the receipts and statements showing that my taxes were not delinquent. Several days have passed and I received another letter stating that I am delinquent on my taxes. Again, I contacted them and was advised it takes time to update their records. I then advised them I wish to talk to someone in that department to confirm receipt of my fax. The customer service representative advised me that she could NOT transfer me. At this time I figured I wait. A few days later I received another letter advising that if I do not provide them proof that my taxes were paid, they would pay the taxing authority and it will increase my monthly payment. I again contacted them and asked what was going on. After much discussion with the CSR she advised me that their records show I had not paid part of my 2008 taxes. I advised the CSR there must be a mistake. She advised me that this is what the record shows and that unless I show proof this is the information they have to go by. I then advised her that the letters received did not state anything about 2008??? I tried to explain to her that my 2009 taxes show paid. Do you not think that if I didn't't't pay my 2008 that it would reflect that on my 2009? Her response was "I suppose, however this is what its showing". I asked where they get this info. Her response was they do random audits and they must have found it or your municipality must have contacted them. At this point I felt that maybe there was an error with my taxing authority. I then contacted my municipality and was advised that my taxes were NOT DELINQUENT. I asked and was willing to pay for their time if they could fax this information to Wells Fargo? I did advise that all communication is through fax and to be sure to include my account number. The lady from the county did fax over to them the last 2 years including a copy that all my taxes were current. I would like to add this was very appreciated. December 27, 2010 (same day)I contacted Wells Fargo Home Mortgage. The lady I spoke to was Shelly Comes. She was the only person that was willing to listen to my concerns and knew I was upset. she advised me that Wells Fargo Home Mortgage sent checks to my taxing authority for arrears taxes. She also advised me that they sent in my 2010 (future) taxes in the amount of $5097.91. Needless to say I was even more upset. I explained the details and she advised we have some time to get this corrected for the checks did not show being cashed. She then asked me to fax them to an 800 number. (which I did)she also asked me to fax a copy to her and that she would be in touch with me. She was very pleasant and actually took the time to help me through. I thought this would be the end. NOT! January 3rd I received in the mail an Escrow Disclosure Statement and Notice of New Mortgage Payment. They increased my mortgage from $1138.42 to $2290.38!!!! I cannot afford this nor do I deserve this. I have spent several hours trying to talk to someone, I am tired of communicating through fax, I have ALL DOCUMENTATION showing proof I was never delinquent nor am I delinquent in my taxes. Further, I pay my taxes with my tax returns and they took it upon themselves to pay my 2010 taxes which I am paying interest and fees on. I am hoping someone can PLEASE TALK TO ME AND HELP ME GET THIS TAKEN CARE OF. I have had sleepless nights worrying about this and NO ONE SEEMS TO CARE!!!!!!! I refuse to make these payments and cannot afford this increase. I would understand if I was in the wrong, however I AM NOT!!!! Please help me in this matter. I have been on the web and was surprised to see the amount of complaints made to Wells Fargo Home Mortgage, and some of the battles people are going through. My advise to anyone is to NOT DO BUSINESS WITH THEM. Their customer service sucks, and they don't want to listen to anything you have to say. Their remedy is to make you communicate through a fax machine.
Entity: Davenport, Iowa
23, Report #180143
Mar 09 2006
02:00 AM
Wells Fargo Home Mortgage unbelievable loan principal crediting and bad customer service Usa usa
I took out two loans from Wells Fargo in the spring of 2005. I paid additional payments and principal during 2005. In December of 2005, I noticed that I didn't owe a payment until spring of 2006. I called the company and asked that they audit the accounts (2) and credit the additional payments and additional principal to both accounts when they had been paid and received. It's gone down hill since then. I made the December payment and the January payment. I went out of the country January 2006. I had forwarded my home phone number into my cell phone. I got about 2 calls a day from Jan 17 on. Very embarassing and humiliating to be on the beach and your friends wonder how you can be on vacation and don't pay your mortgages. This continued for many days. I explained that I was out of the country, that my accounts were current and that I would be back in the country on February 10. Please don't call me again until February 10. And the calls continued. Day after day. Usually 2 a day because I have 2 loans. I am on my third investigation into what Wells Fargo has done with the accounts. Don't ever send 2 coupons (or more) with one check to Wells Fargo. They have a machine that opens the mail and only takes out 2 pieces of paper. I have spent almost 3 hours on the phone with them since Monday night (this is Wednesday night) and have gotten 5 more denegrating phone calls from them. I am refinancing - but in the meantime, I am a professional - Realtor - for almost 33 years - I work about 60 hours a week - this is now affecting my sanity and peace of mind. Every time they call, I have to answer about 20 questions so they can be sure that they have reached the person whom they have dialed before I can even get a word in edgewise. I'm angry, fed up, won't ever give them another bit of business (and I used to give them lots) - and quite frankly, so p.o.'d that I'm beside myself. My blood pressure is off the charts and I know that even though the accounts in question are under 'investigation' and they've offered to put them on a 'no call' list, i get to face this again tomorrow. . .and the next day. . .and the day after that. This has been going on for over 2 months. They have over $3000 of my money in what they call a 'suspense account'. And I don't owe a payment until April 2006. But the calls continue. Their call center is unmerciful. The people who work there are brutal. How can I get to the President of this Company and make a plea for consideration and mercy? Lana Spokane, WashingtonU.S.A.
Entity: Nationwide
24, Report #282515
Nov 02 2007
08:58 AM
Wells Fargo Home Mortgage Unsrupulous/illegal busniess practice Jackson Michigan
In less then 3 years of dealing with Wells Fargo, I owe 40,000.00 more then my home is worth. When I first went into the office in Jackson, I was assigned to their agent, Michael Raczkowski. He had my home appraised at 120,000.00 and rewrote my mortgage, he told me to pay off all my other outstanding bills, and keep to a very strict budget. I did this and was doing fine. Then 2 years later, another agent Lodell Parks, called me to inform me that my mortgage was due to be refinanced. This was a complete shock to me, and when I learned what a varible rate mortgage was. As I had no chose but to have this done, is when I learned what Mr. Raczkowski had done. I went to the office in Jackson to have a few words with Mr. Raczkowski, only to learn that he had been let go and to see an office that was staffed by at least a dozen people, down to one very flustered employee. To date, that office has been closed, and all signs have been removed. I called Lodell Parks, and said I had no chose so go ahead with the refinancing procedures. He informed me not to make any payments till Jan 07. As I didn't feel right about this, I made Dec's 06 payment anyway. Then I was told in the end of Dec 06 that my refinancing was denied due to the fact my home wasn't worth as much as the loan. Wells Fargo raised my rate to 12%. and increased my payments to 1104.15 per month. Then they started playing games with me. Everytime I sent in a payment, they returned it stating that they wanted the full amount which was the past due payment too. I would resend the check for one month, stating that this was the best I could do at this time. Some months they would accept it, and some months they wouldn't. This went on until I was showing 2 months behind, then they sent me a foreclosure notice, and stated that my home was being sold in a sheiff sale on Sept 19th 2007. Unless I could come up with the full amount. Which of course I couldn't. I tried to sell my home by owner. I was advised to send Well Fargo a hardship letter, and show what I could pay. This fell on deaf ears, and also was denied by the company. I tried several other avenues to keep my home, but to no avail. Now, I am not only losing my home, but also have a foreclosure notice on my credit. I paid them dearly for this. I sure would like to know what they are going to do with a house that no one is going to beable to afford in Jackson, Michigan. Bernadette Jackson, MichiganU.S.A.
Entity: Jackson, Michigan
25, Report #318685
Mar 17 2008
01:26 PM
In June 2004 we decided to purchase a home in Montgomery Alabama. We were just returning from overseas and we were settling into new jobs in Alabama. We have excellent credit and as a result we were able to 'shop' for a mortgage lender. We found Wells Fargo and though we had found a lot of good lenders we decided to go with a company whose name invoked a feeling of confidence that the choice we were making was a good one. We understood from their agent that the company has been doing business for over 150 years.. it is one of the nation's most prominent financial institutions with a customer base of more than 23 million people. Frankly, we were impressed to hear such numbers. We felt that a company with such a strong background would not be so successful unless it took time to understanding it's clients needs and set high standards of honesty, respect, and a 'no surprises' approach. Afterall, it even got many Americans through the depression era, right? We thought we were making the right choice by choosing them so we locked our interest rate and began the paperwork necessary to get our mortgage. But it wasn't long before information that was provided one day was changed the next.... information the agent gave us was different according to his assistant... and then when the paperwork was taken over by Wells Fargo's financial office everything changed yet again... amounts changed... expectations changed.... and whenever we would question it they all acted as if we were making up what they were telling us. It was strange at first... we spoke the same language but somehow they weren't saying what they were saying!!??... They claimed they weren't saying anything different... it was us.... we were the ones who had it all wrong. Our agent would always say Oh... let me check on that. Then his assistant would contact us with the answer. We'd say 'okay' and later another call would come and it would be someone else at Wells Fargo... telling us yet again that Oh, no... they were both wrong.... the answer is actually.... And these questions and answers weren't of any REAL consequence to us. We were fine with or without the assurances.... for example, they said our HOA dues would be covered in the loan as a part of our payment just like taxes and insurance were covered. We thought that was pretty unusual but figured that really was a good idea. We kept asking Are you sure?... and they kept saying Oh, yes! We take care of everything! We found out later that this is NOT something that anyone does. HOA dues are paid separate to any mortgage. Funny thing... we actually got to the point where if the agent said something to us that we 'needed' for more paperwork, we'd call the Finance Office as well as the Assistant to confirm and ended up going with the best two out of three answers. If one said no and there were two yes's, we'd go with the yes answer. If one said yes and there were two no's, we'd go with the no answer.... then just cross our fingers we'd get the right answers at closing, too. We got a lawyer to review all the paperwork just in case! The SNAFU's with Wells Fargo were endless. We were anticipating closure to occur two weeks after we started paperwork with Wells Fargo.... they got the dates wrong and we ended up closing a week later than we were told. They told us WE got the dates wrong.... we didn't argue. This wasn't a yes/no answer so by then we expected something to delay us. We were not surprised. The final SNAFU... they said our first payment would be in September.... then called us early August and asked where our payment was. I can't tell you how happy we were to get past the first two months of homeownership with Wells Fargo and settled into our home so we didn't have to actually deal with them except to pay the mortgage out of our account automatically... it went on time and on the penny. We made sure we kept good records though. Then last December the agent called us.... he had a 'deal' for us... refinance and turn our 80/20 into a single fixed rate loan. Sounded good to us!! We didn't like that 20 side of the loan because it wasn't a fixed rate... interest rates on that part of the loan had increased significantly and we were paying double on that payment since we first got the loan in June 2004. Happy ending? Well... no. They put us through the same thing... information then misinformation.... lots of misinformation.... and in the end it was 'our' fault. Well this experience was such a strong reminder of the frustration we went through three years ago so guess what we did.... Yeah... we went loan shopping and ended up going to our credit union. We closed on our house (same house, new loan) at 5.5% interest, 20-year loan instead of 30, no confusion, no 'he said / she said' situations... and just ONE loan, not two. The Wells Fargo agent called us and tried to talk us into staying with them. There was no way. He said I'll beat their deal! Tell me what they are doing for you and I'll beat their deal! We said No.... you offer what you will and we'll decide. This isn't a Tijuana shopping bazaar. He had nothing to offer. We stayed with our credit union. We picked the date to close... we picked our attorney. And the day we started our loan paperwork (13 Feb 2008) we paid the credit union a $26 fee to close access to our checking account to Wells Fargo for any further house payments. We had a feeling that if we didn't do that they'd make an 'error' to take out the payment, then take 8 months to pay it back. We learned long ago we'd have to stay a step ahead of them if we didn't want to deal with their drama. AND, also as we had anticipated: they had problems giving our credit union the correct payoff amounts... this time we didn't have to put up with the information / misinformation games... no, this time they had to deal with our credit union. Our credit union doesn't play. We happily closed on our new loan on 5 March 2008. No snags... no questions... no oops situations. It went smoothly and we celebrated by uncorking a big bottle of champagne at closing. BUT.... turns out Wells Fargo continues as usual. They sent us a letter dated 2 Mar 2008 stating they were putting a stop payment on a check they had sent us. We didn't call them. Didn't want to discuss it... we knew it would end up being our fault again. We got the cancelled check a week later and still didn't call them. We shredded it... there's still nothing we needed to say. The check was dated 5 Mar 2008. (3 days after the letter.) Then last week we got another letter from them. It stated they were re-opening our account because they couldn't access our bank account for an automatic withdrawal. When does this end with Wells Fargo? We're watching to see if they mess with our credit ratings.... if they do, we're going to check into litigation. These people are a real live clown show. Our advice to anyone considering doing business with Wells Fargo: RE-consider!! Picnic_ants montgomery, AlabamaU.S.A. Click here to read other Rip Off Reports on Wells Fargo Bank
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