Wells Fargo Financial Attempted to scam me into a 9% apr consolidation home loan of an unwanted 120% of my home value Tigard, Oregon

6-months after agreeing to a 6.99% $5K credit limit on a Wells Fargo Financial unsecured credit card my interest rate increased to 39.99% and then 50% apr.  My existing balance was $4,200. 

I got a bunch of robo calls about 20 times per day and I answered them to find out that it was Wells Fargo Financial informing me that my regular payment had been increased to $500 per month because my interest payment went up to 39.99%.  I informed them that it must be a mistake and that i did not have $500 a month to pay them for a $4,200 credit debt. 

In addition to the higher payment WF lowered my credit limit to below the balance and charged me fees for making payments under $500 and dubbed it "late fees".  Then they charged me over the limit fees for the late fees which went over the new credit limit balance.  I was charged $158 per month in fees.

I had just purchased a vacant apartment building months earlier that needed work and would be empty for the next year due to the fact that the town flooded with 30-feet of water and refinery oil 5-months after purchasing the building and that FEMA moved everyone out of the town, and I did not have the extra cash available to pay Wells FF.

The calls poured in every morning and night.  It didn't matter if I had just picked up the phone and once again informed WFF the very same information before another call came it. 

I couldn't even use my phone because of the ongoing incoming calls from WFF.

WFF offered one deal and stood by it.  To consolidate my WFF unsecured credit card onto my home loan with a 120% of value loan.  They offered to refinance my 6.375 apr for a 9% home loan consolidation. 

Their proposal would have increased my home mortgage debt from $97k to $120K.  They explained that the remaining amount was for closing costs. 

After doing the math I realized that the payment was more than all of my monthly debt combined. 

I also realized that my equity would disappear and the current payment allocation which was mostly principal would change to mostly interest payment.  I would have lost a $32,000 value in just signing to such a loan.

I chose not to agree and they gave my file to a collection attorney while they robo called me at the same time. 

I received hundreds of phone calls and tens of lawsuit letters in regards to the 39.99% credit card.  The lawyer told me that he was instructed by WFF to not agree to any payment below $500.  I did not have $500 of discretionary income.  I only had debt. 

I had my friend call on my behalf to negotiate and the lawyer told my friend that because I worked in the construction industry that WF wanted to get as much out of me as possible before I got laid off.  

I live in a county of arbitration and not mediation.  With arbitration if you owe a debt there is no mediation or negotiation of the debt amount.  Therefore I was successfully sued for the $4,200 plus lawyer fees. 

The arbitrator told me that I should sue WF and stated that he cannot provide a consultation to me. He would state on what basis that I could sue.  No attorney has acknowledged the position of being able to sue WF. 

A year later my neighbor caught my condo building on fire and all of the tenants including myself had to move out for 18-months while the building was uninhabitable.  I applied for a loan modification within 72-hours.  Every fax included a cover sheet stating URGENT PROPERTY INVOLVED IN A FIRE. 

They stated that they would reduce my loan amount and charge me $269 per month.  They even told me not to make payments.  However, 90-days later WF denied me an application based on the 39.99% credit card dilemma. 

At the 90-days I informed the bank that because I was denied the loan modification that as I reported throughout 2009 forward that because of the WF 39.99% credit card garnishment of $649 that my ability to afford the mortgage was diminished and therefore I would have to voluntarily  allow them to foreclose on the property and I delivered my keys to the branch with an explanation. 

It has been 2.5-years and the property has new locks, I am not able to enter the property, rent or sell the property.  The property is in my name still and I am being held liable for the ongoing HOA dues, taxes, and construction debts.  The bank has never changed names on the property even though I have contacted them several times and they refuse to have a formal discussion with me unless I hire an attorney for $5000.