Wells Fargo review: loan refinance 380

goto www.naca.com--- call them they WILL help you. They were founded by Bruce Marks out of Boston, MA... They have just had the largest HELP! Seminar in Mortgage history in Charlotte, NC. Call them, google them and get ready to be helped!

This is the real deal... save your home!

During the loan application loan for refinancing there were too many inconsistencies and missups that ended up on my spending way too much time and money and at the end the loan was not even approved.
I went through 5 different loan applications because each time I was close to closing time Wells Fargo changed the loan proccessor so the application expired and the new proccessor required the same information all over again. After 6 months of Welld Fargo asking for the same information, they notified that the only way to get the loan approved was if I buy internal insurance coverage for my condo. I did got a policy and submitted all documentacion. Now they are telling me that the condo association insurance is short on wind coverage for about $300K the current policy is 97, 359, 646and the bank requires to be 97, 709, 796. this is after they have the same information for the past 6 months and made me spent all this time, agrevations and money to come to this point.
I am currently weels fargo customer and it is clear thar they don't want to refinance my loan with lower interest. They are totally dishonest with the procees and very unfair to their customers.

I hope some one can do something about to stop this banks for treating people in such unfair way.

My husband and I are currently trying to refinance our home with Wells-Fargo and it has been a nightmare since the beginning! They ask for everything but the kitchen sink and when you send it, they lose it! Our agent never answered her phone or returned our phone calls in a timely manner. After two months of red tape, we finally had our closing scheduled for today. One and a half hours before closing we get a call saying that 'their computer has not sent the closing documents to the attorney'? We've known about this closing for over two weeks ? This is totally 'UNACCEPTABLE' and 'UNPROFESSIONAL'! Now we have to reschedule and our 'lock-in' rate is about to expire. If we had not invested so much time and money already, I would just walk away. If this is the level of service we can expect as customers, we are in for a long ride!

Wells Fargo promised us a 25 day closing on a 203K loan. We are currently on day 90. I have sent all information three times. The appraiser has sumbitted his appraisal 18 times and is just a fed up as we are. The seller refuses to get us another extension past today unless the closing package has been sent to the attorney. Our loan officer refuses to give us her supervisor contact information. I have never dealt with any company as unorganized and unprofessional in my life. We had company come into town last week to assist with the repairs, we have had to delay putting our current home on the market, and the last straw is we had to cancel our Christmas plans at Disney because we will hopefully be closing Monday or Tuesday. I have five very unhappy children,

Some years ago, my wife cosigned as an accommodation for our not yet 21 year old son to attend Mary Washington University in Fredricksburg, VA. Wells Fargo Education Financial Services (WFEFS) made the loans and since he was not of legal age, the wife cosigned. Some years later the lad is out of school, 24 years old and has encountered some financial and legal problems, now unable to pay the student loans my wife was an accommodation signer because of his contractually under legal age status at their incurrance. Instead of even contacting him on his past due status, WFEFS has demanded payment from my wife in full, charging around a 50% interest rate for the "late payment" charges. The only person that received benefit of the funds derived from these student loans was our son and neither my wife or I received any benefit of the funds. Clearly, the obligation rests upon the adult child but WFEFS will not even send him a past due notice let alone make a collection call to entice him to pay. Now, we in our advanced years are going to have to cough up $25K to pay these loan sharks who have even agreed to attempt collection from the son but DO NOT even contact or send him any notices, routing everything to my wife. This all started when my wife left employ of Wells Fargo & Company (WFC) at the beginning of 2009. WFC is the worst employer in the world and they tried to thwart her from drawing out any of her 401 K and profit sharing funds last year even before the student loans were past due. WFC and John Stumpf are without a doubt (I have written to Mr. Stumpf appealing for his assistance to resolve many of the issues) the most egregious parties as employers and as a human I have ever found, despicable.

How can we hold wells fargo acountable all they do is give the run around, loose paperwork, and come up with new reasons why they can't help you once you resolve one issue they have another. They told me I had liens on my house so they would not endorse my insurance check to get work done on my house that insurance has already sent me a check to repair. I gave them a search letter from the court house that states I have no liens or judgements. Then they said it was frost bank and some supply house. So I went down to the courthouse and got copies of the liens with same name different ss# address and dl#'s. Then they come up with a list of 40 other liens the say to go get copies of. All different people same name. run around after run around excuse after excuse and every time I call I have to explain the whole situation again and still get nowhere. some one please file a class action there has to be some law against your mortgage company always finding ways to not help you get things done on your house. I've been dealing with this over a year now.

Same situation; lost the first refinance at a different bank and a lower rate because Wells Fargo could not do paperwork in a reasonable amt of time...so I refinanced from Wells Fargo to Wells Fargo at a rate lower than what I was paying but not as good as the first try. We are now 5 months into the refinance process and there has been nothing but problems; the new loan is now 80% done, but Wells Fargo still cannot do the final paperwork.

Nice people, completely incompetent. I don't think the issue is fraud... just incredible incompetence. No wonder the banking industry is such a mess. After screwing up every step of the way on the refinance, they had the gall to ask if I wanted to open a checking account w/ them. Sure... I enjoy incompetence, doing things over and over and over again because something is always wrong is fun...

I did get behind by one month. I contacted them immediately and told them my situation. It had been an unexpected medical bill and I had over extended my credit cards. My fault I admit. But I want to work it out. Wells Fargo does not give us a contact person you are to just talk to the collections department whom ever picks up the phone. I sent them all the items they requested about my finances and I get a call to my husband that stated they didn't have anything. They then gave my husband another fax number. He asked them where did our stuff go at the online fax number? they couldn't answer. So I sent everything in again, and then I get a letter stating what our new pay schedule was, they were trying to add so much to each payment to get the lost month paid within a year. The problem was that they had the first two payments all on one month. which was well over 3, 000$. I called the collection department again and said that if I could pay that amount I could make my payment I missed. Oh they said that is a mistake we will fix it and send you a corrected one. few days went by and nothing I called them again and a person said oh yes that was noted but you have to sign the original one and send that back and then we will send you a corrected one. You are kidding right? well in the mean time I lost that letter so I called again today to try and straighten this out before I lose my home that I have lived in for the past 26 years. and they said again that it was there mistake and that they would re-submit it. I asked for a supervisor on this call and that is what they said. I am afraid because of their dis organization I might lose my house. I am afraid to make a payment because of the previous note above. There has to be someone that I can call and get this straighten out. I have never known a bank that didn't have a contact person for things such as this. What is happening out there. What would wells fargo do with my house anyway. I am willing to pay for it, its my home. They would get more out of me by just helping us by putting the defaulted amount on the end of the loan. What is wrong with this company I use to think they were one of our oldest and most trusted banks. What has happen to honesty and integrity in our business. thanks for letting me vent. Which out for Wells Fargo

We spent the last year working with Wells Fargo on refinancing our second home to help put us in a better financial state. We met all the conditions they required. We were just simply told by the lender that they would not do the refi. We could not of had better credit, background and financials. We feel that they just did not want to loan the money at this low interest rate at this time. So much for the Obama admin telling people to get their finances in order and make good decisions. The banks do what they want for their benefit, not ours. We have been with Wells Fargo for 10 years. I told them that they lied to me and misrepresented themselves. We have choices also and we will be making one to change banks. Also, I am letting everyone know our story. Word of mouth is huge! This is another situation where you can not trust what is going on in our world today. Beware!

to everyone on this website in the houston area...especially those who work in banks...i was just watching the morning news and learned there is a bank robber on the loose. the assailant is not known to be armed and it is a woman. the woman appears to be older, with a short gray wig on. however, security cameras caught the assailant as she removed the wig, revealing long dark brown hair. she has robbed bank of america on briar forest and wells fargo on westheimer. beware of her, or if you do work in a bank and just happen to get robbed by her just hit her she looks as if she can't fight. i dont think she is armed.

ASC and Wells Fargo are simply thieves I just reviewed my loan mod documents and noticed they jacked up my loan amount by $5000.00 form Feb 11 2010 to Feb 15 2010. These guys are crooked we should remember that one of their top executives was living and Malibu California beach house that Wells Fargo has foreclosed on and was suppose to sell to give the owners their money she had purposely delayed the sale and was throwing parties. Please write to office of the comptroller of currency, they handle these complains let them know how ASC is treating you.

I filed all the paperwork to refinance the adjustable rate loan that I have with Wells Fargo, I just want a fixed loan, as they one I have will adjust in 2 years. I even paid for an appraisal (which showed enough equity to qualify for a 90% loan). Wells Fargo would not except the appraisal and sent their own appraiser out and their appraisal came in $35, 000. less than the first appraisal, so therefore I was not eligible for a refi. So I asked if since I wasn't eligible for a refi would I be eligible for a loan modification. Wells Fargo sent me to another department within them and that department sent me a loan modification package. I filled out everything and sent it back to them and after waiting their 45 days, Wells Fargo said that since I hadn't been late with a payment and I had some money in the bank (which isn't much) that I DID NOT qualify for a loan modification, that we should consider a short sale. Even though I am NOT interested in selling my home I just want to stay in my home and be able to afford the payments, since I've recently been put on disability . Wells Fargo told me I did not fall into their category of clients to help. My loan is not a Fanny Mae or a Freddy Mac loan so therefore I haven't been able to find a government loan program to help me. Where are these programs that are suppose to be helping everyon out. I'd like to find one!

I have been working with Wells Fargo since about July 2009 to get a Home Loan Modification, as outlined in the federal program (www.makinghomesaffordable.gov). I finally received my paperwork this week, and it is as if they "rewrote" the modification the way THEY WANTED TO, not following the federal guidelines, which are clearly written in a 17-page memo to lenders.

Also, they did not offer me the $1000 per year "incentive" that i am eligible for, for up to 5 years, if I enter into the agreement and make my payments on time. This helps "pay down" part of your principal... they totally ignored that ... probably since the guidelines (to lenders), states, "borrowers are eligible for (the $1000 a year incentive) ..." instead of saying "(Lenders), you MUST include this in your loan modification agreement."

Here is what has happened with my loan modification, so right now I am wondering whether to sign or not to sign... and they gave me only 10 days to sign and return... while it took them almost 8 months to get my loan modification through a trial period. !
But here is what happened with my modification:
my mortgage should have been reduced by about $250 - $280 ... but was only reduced by about $98! Borrowers are supposed to bring your payment down to 31% of your Gross Income, and are supposed to reduce your interest rate (as a first step in something the Gov.'t calls the "Waterfall Procedures", which are specific steps Lenders are to take to reduce the mortgage so the CORRECT AMOUNT OF modification agreement can be determined... This is NOT what was offered in my case.

I have been trying to get my home loan modification with them for about 6-7 months... I did EVERYTHING THEY ASKED, sent all forms, resent forms, resent proof of income, the signed affidavit. about 4 months ago, they sent the amount of my trial payments, which was encouraging because the payment dropped from about $1250 (which I can no longer afford, due to a sharp decrease in my income.; my payment for the trial period was reduced to about $980.

I also want to note that i did not have a sub-prime mortgage, that i have always been current on the mortgage, and that my home in Austin TX is worth about what I owe on it. Also, I do pay Private mortgage insurance (PMI), and I'm reading from many with problems, that some banks are not working with them... preferring their home to go into foreclosure, since the home has PMI.

The "making home affordable" gov. website calculators show that I'm eligible, and that $980 (trial payment) was actually somewhat more than the 31% of my income. I thought i was "good to go..." and made every trial payment.
Now... this week, i get a letter from Wells Fargo that offers me something they call a "Home Affordable Modification Agreement", and they only gave me until 3/23/10 (less than 10 days), to sign and return it to them. THE TERMS ARE NOT AS outlined on the Gov't site at ALL! To reduce my mortgage, they offer to EXTEND THE TERM OF THE MORTGAGE, and only to lower the interest rate by about one-half percent. This is NOT how the Gov't site said as to mortgages being modified. My total monthly payment only went down $98, if I sign this, and again... this payment is MUCH more than the approx. $960 that my loan modification should be (according to the calculator on the fedeeral "making homes affordable.gov" site and other federal web sites.). Do they think we don't read or multiply ? Also... they didn't make my escrow payment with my trial payments, and so they informed me i now owe escrow of $1876 ! (this is something the government guidelines to lenders ALSO tells lenders, that they MUST make the escrow, if the funds are there ... which mine were, as part of my $980 trial period payment.!

They did write in something they call a "borrower incentive" that if i make payments on time, i will "accrue " a "benefit" equal to $54.58, which is 1/2 of the reduction in the monthly mortgage payment. There is nothing that i can find about this being in the government program -- it reads that with a home modification you no longer have to pay the PMI. (because the government is in effect insuring your mortgage, at least that is my understanding of why you no longer have to pay PMI).
I feel WFargo has "rewritten" that program benefit more to THEIR benefit, in their legal terms ... saying, "if your modified mortgage loan ever becomes 90 days delinquent, you will lose all accrued but unapplied principal reduction benefits (the $54.58)... and will no longer be eligible to accrue additional principal reduction benefits..." THAT is NOT in the government guidelines at all.

I don't know what i am going to do at this point, because it seems as if WFargo is really trying to screw me. That is not a word I ever use, but it fits with this situation. In my opinion, they are purposefully ignoring the government guidelines on how the FEDERAL home loan modification program was written, and have written their terms... much more favorable to them.
If anyone has any suggestion, please contact me at my email:
tonklover@mail.com. Thank you... and good luck. We need it.

Yours truly,
LSB / Austin TX

I too am in a nightmare renovation refi with Wells Fargo, have been since November 2009. I am a sliver away from crazy because of the frustration in dealing with this banks incompetency, stupidity and stall tactics. They continue to ask for the same information that has been given to them over and over again One guy told me there was a 12 hour lag time to receive my fax, where are you, the 19 70's... As far as I'm concerned there should be a class action lawsuit filed against them for mental anguish to the public...Yeah the public tax payers that bailed them out.

Atlanta GA

Wells fargo is a quack, a cheat and dishonest company. Right from the agent to the CEO, it is a bunch of crooks, running the company. Just wasted one and half years of refi effort with them. They are not even ashamed of giving contradictory reasons. Stay away from these leeaches.

They are the worst bank. Frankly they should not be even allowed to operate. Just got a run around for trying to refi an affordable mortgage for the last one and half years. They give contradictory reasons. Don't trust these leeaches. A class action lawsuit is the only solution.

soo... what actually happened with the wells fargo?
it seems like they charged your account a late payment fee? that about all I can understand.
If thats the case, I agree. There should be some grace period. but all banks work the same way. It dosnt matter who you chose, if your late you get a fee..I have PNC in MD, and i've been late once in my life and that waived it, but had i not called.. the fee was like $32.
just make payments online and no one is to blame.
I was also told that if you dont have the money right away, you can call customer service and let them know ahead of time, send what you have and they can work something out.

I won't even start tell of our nightmare with the Wells Fargo construction loan department in Utah...but will say - they sent an appraiser to verify the number of bedrooms in our house because we said it had 5, when it really has 5, and they claim that the appraisal said only 3. I had to teach them how to read an appraisal, for an exposed ranch style usually has the main floor bedrooms listed on the 2 page along with comparables, then lists the additional rooms & bedrooms of what is considered below grade in the addendum section towards the end of the appraisal report. They had no clue, until we explained how to understand self employed figures and accounts. We are keeping our departure house as rental property and building a new home/business combination...just like we have now. They said we needed to move out of our current house and rent it out before closing on a new home construction loan. We did give them a departure rental lease agreement to take place for when we were to move into our new place and had to SPELL out for them the facts that they already had in front of their face -that our business was and had been renting and paying for 1/2 our mortgage, utilities, taxes, etc. Conditional use permit for home occupied business. Why would we move our business out, just to rent to someone else, then have to pay triple rent somewhere else until our new property was ready. Our (local) Wells Fargo end loan officer was so livid with our treatment by the construction loan people that by the end, she offered to hand over our entire Wells Fargo file to another lender...which she will be doing. Kudos to her for some respect is still to be found within the company. Guess it's true about a few bad apples. Just sorry that it cost us time and money to find that out.

For the past year, Wells Fargo has called me at least once a day and sometimes multiple times per day trying to get me to buy additional products. Even though I've requested numerous times to be removed from their solicitation lists, I'm ignored every time. Due to the numerous calls it can be considered harassment. I wonder if others have this experience and if a class action lawsuit is possible.

This is amazing. I wish I had read this before I began the process. There is letter after letter here that sounds like I wrote them. I'm 13 years into a 30-year 6 1/8% fixed with Wells I tried to refi for 15-year @4%, and refinance another home to a 20-year 4 3/8%. Stellar credit, 50% equity, income in the nation's top 10%, long-steady employment, tons of cash in the bank (with Wachovia no less), NO other debt, no brainer right? WRONG. I was told by other banks and real estate attorneys that Wells would NEVER close. They would assure up-front it was a slam-dunk, take your application fee, charge you for all the appraisals, then bury you in ridiculous requests for meaningless documentation for months before they declined you for no apparent reason. This is EXACTLY what happened to me. If this happened to you, the US Dept of Treasury Office of the Currency Comptroller has a website to file your complaint. Go to www.helpwithmybank.gov, and/or call them at [protected]. If you go to the website, click START HERE on the homepage and it will walk you through filing a complaint, which they say will take about 40 minutes.

I posted here about a year ago, and suggested the same, along with several other contacts. What happens is that US Dept of Treasury Office writes the bank and asks them if they did anything wrong, and the bank says no we didn't. Then if you want to continue the discussion you can write another "Yes they really did do a bunch of stuff wrong, " in lots of detail like I did, and then you will get another letter saying the bank stands by their decision.

I think I was more shocked that the Washington state regulators for appraisers, after a very long investigation, told me that the bank could have their appraisers set the house value and condition according to whatever they decide because the appraiser is employed by the bank.

And of course you probably all know that those agencies that are suppose to help with the government programs can't actually work with the banks, even if you get to a third level person, they can only do the same things you can. There is no government person or organization overseeing the Help for America's Home Owners. And I can only imagine that the reason there has been no legal action is because according to our legal system the banks, while not ethical, have not committed criminal acts that we know about. They just do not have to help.

buenas tardes para todos aquellos que me puedan entender, lo escribo en espanol porque mi redaccion en Ingles es muy mala, please try to undestand my situacion, Wells Fargo promese to helpe keep my house, so they put me in 1 year trial period I allways paid my mortgage, they promese, to refinance or modifia my mortagage, after a year they jus call me to tell me that is nothing they can do so can some body please expalin this to me HOW CAN WELLS FARGO ADVERTISE A $200, 000.00 LOAN WITH PAYMENTS OF
$771.00 A MONTH, MY MORTAGE IS $227, 000.00 AND I PAYING $1400.00 A MONTH, MOST BE THE NEW MATH. SO WELLS FARGO YOU CAN AD ANOTHER HOUSE TO YOUR INVENTORY, and thank you very much for nothing,

wesley chapel tampa florida

I just tried to refi with the 1-2-3 HARP program and was denied. I applied for this program about 3 months ago and was denied bcause I hadn't been at my current job for 6 months. They told me to contact them in 3 months and I would qulaify. Well, I called back at my 6 month anniversary and spoke to Joel. he told me he had to get me back on the qualifying list and I would be good-to-go. After 3 weeks and numerous messages to Joel he wouldn't ever call me back. So I called back in and started over with another person. This person promised to take care of me no worries. After a week I never heard back. I called and got a hold of him and he swears he called me a left a voice mail and couldn't believe I was calling. He said we didn't qualify for the program now because it was a one shot deal and when I applied the first time that was it.
This sounds like the biggest scam ever! If it was a one shot deal why didn't they tell me the first time I wouldn't qualify for lack of job time and let me apply for the first time when I would qualify?

Is there anyone out there that will advicate for the disabled?
I have been charged fee's that were caused by the bank.
fraud was commited on my account and was made to believe that it would be looked into. it wasn't
too late for me to prove who did it.
too much has happened. I am too ill to spend time writing it all down.
I can't waste my time.
please respond if I can get help.
thank you

I hope someone is out there that cares about the helpless.

have a nice day

Becky

They'll take advantage of people if they're poor, rich, disabled, not disabled... they don't discriminate.

Wells Fargo has to be the most customer "unfriendly" company out there. we tried to take advantage of the loan modification program due to loss of employment. After several months of weekly contact and trial moratoriums, they decided to proceed with forcloseure. All the while they were telling me "not to worry" that i could just request a foreclosure postponement prior to the sale because i was still in consideration for loan modification (and had been for the past 7 months). However, when i called to postpone the forclosure sale as instructed, they informed me that the lender decided to disapprove my loan modification -just 4 days prior to the sale! At this time, I tried to get the reinstatement amount to pay them, but they were unable (and unwilling) to give me a figure and referred me to their attorney. when i asked them what the reinstatement amout was, they informed me that it would take 5 business days for them to get me that information and that i had to send it to them in certified funds for the sale to be halted. if you do the math, the sale date would have passed even before i recieved a reinstatement amount -not to mention being able to get that amount to them! i had to hire an attorney to put an immediate halt to the sale. Since then, Wells Fargo has refused to negotiate with my attorney as far as any settlement. Bottom line, DO NOT DEAL WITH WELLS FARGO IN ANY WAY! There are many other fine and reputable mortgage companies that would be happy to serve you. YOU HAVE BEEN WARNED!

We were fortunate to refinance through Wells Fargo (WF) our original lender although when we applied to them directly and paid the non-refundable $400+ fee they turned us down. Went through a mortgage broker who got us a refi with WF almost a full point less on a 30 yr fixed then what WF had offered (and rejected us on).

Everything went smoothly and fast. Closed in less than 3 wks:) probably b/c we used the mortgage broker's loan processor and not WF. Now several months later, we are getting calls from WF. Apparently, they have misplaced our paperwork. I kid you not... and wants us to resign several documents. I believe them b/c the new refi does not appear on our credit reports whereas the previous mortgage with WF shows up as fully satisfied. Wells Fargo are clowns.

I would be more inclined to help if they were nicer but since the refi starting on the 5th of every month, we have been getting "courtesy" calls telling us that our mortgage payment is due by the 16th, 3 - 5 times a day on our cell phones and at home. With our previous mortgage with WF we always used the grace period and paid on the 15th (it's scheduled electronically through our bank) and NEVER got these calls. Also, we have never been assessed a late fee. When I pointed this out to these courtesy callers they sounded apologetic but said this has become "policy." The only way to stop the calls is to pay by the due date and not use the grace period or to open an account at WF and schedule electronic payments through them.

If Wells Fargo lost the paperwork to secure a lien on my property, well, that's their problem. We already signed everything necessary at the closing and I'm not signing anything else. Knowing these idiots, the lost docs may turn up at some point and they'll put 2 liens for the same mortgage.

NEVER OPEN A WELL FARGO BANK ACCOUNT OR DO ANT KIND OF BUSINESS WITH THEM!
My name is Phillip.I opened a bank account with this bank and they stole my money.I say stole because how the hell you open a bank account and never use the account then they tell you that you owe them money.These sorry ###s are more than happy to take your money and open a account knowing that they will try every way they can to ### you and take your money.What kind of bank tells you I'm going to pull money out of your checking and put it into your savings and fee you 30 dollars when you don't have any money in there.Now this is my money there ###ing with.Well Fargo ### you and keep your hands out of peoples account.Did you know bank managers keep the fees that are gathered each month.This is why they they give you this big packed of paper contract ### when you open the account.They make it nice and big so us little people will think this is normal paper work but in reality this is where all the ###ing is written in.Our banking systems sucks.I recommend you just keep your money at home buy a few guns.At-least if someone trys to steal your money you can shoot that mother###er and there not hiding behind a computer with no one taking accountability.I hope you take my advise and what ever money you save will always be there safe in your special place. [protected]

We also have had a horrible experience with WF. We lost our home and all they did was take as much money as they could, lied to us about what they were going to do (as it never happened on their part) we were constantly faxing the same forms to them over and over with no resolve. This went on for months and our home ended up in foreclosure. Our loan was a VA backed loan so WF got all of their money back 326, 000.00 and then turned around and sold the home for an additional $264, 000.00 to another party. Am I pissed you bet and if I could afford an attorney I would and sew their pants off. I am waiting for a class action suit to be filed against them as they have wronged people all over the US

Wells Fargo are real spammers, I was qualified for HARP refinancing and after 2 trial payments. I am current on my mortgage and have reduced income because I lost one Job of the 2 jobs I was holding. I was also going on disability due to delivery of my 2nd child and they agreed to refinance saying it was a valid reason. Reviewing my credit and my being current on the mortgage with no late payments at all, they approved for a refinancing with a lower rate under HARP and was under trial period but after 2 payments they disqualified me saying I had money in my bank accounts. I was saving money cutting all my expenses even on my food, utilities etc., because I did not want to default the mortgage during my disability period. This was as per the advise of their approved counsellor. Can you beleive she even advised me to sell my car if possible to save money to have enough money in my bank account. But later on when I have enough money for my disability period to pay my mortgage the disqualify me and put me back on the original interst rate. What can we call the SPAM BANK wells fargo. Why was I advised by their counsellor to save money and keep it in my bank account, just so they could find a reason to disqualify me? they are all hand in glove. Where can we go and complain about my problem and their cheating.

I am a lawyer and am in complete disbelief at wells fargo's handling of my Harp modification. For 13+ months I have been providing them with requested documents. My income dropped 20%, I have never been late or missed a payment and now have less than a mortgage payment of savings with a wife and 3 kids. They put me on a modification in November which I paid early by giving them my tax refund. Last week I got a 2 page form letter from them telling me that they had denied my modifaction because I did not give them some unnamed document. After 13 months, they did not give me the courtesy of a call to tell me that they needed something else (despite the fact that in the 2 weeks prior to the denial the loan servicer twice told me he had everything that they needed), they simply sent the form letter. I called them immediately in disbelief, and was told there was nothing they could do, the loan had been denied and sent on for other relief.
Incredibly, they now call me daily telling me I am delinquent. They are claiming delinquency on the basis that I owe for escrow for payments they are going to make in the future. My original mortgage required no escrow, they set up an escrow with the temporary modification. They claim they would not process the modification unless I agreed to the escrow, but they claim that the escrow now applies with the old loan payment. What they have done instead of decreasing my loan payment is to increase it by the amount of the escrow. Seeking a reduced payment has resulted in an increase. Obviously, I think this is a fraud designed to get people stuck with an escrow when they have no good faith intent to modify the loan. I am considering suit, possibly as a class action; does anyone have any similar circumstances.

I am writing to let you know how much AMERICAN SERVICING COMPANY (WELLS FARGO) is a disgrace…they are the ones that called me and said I qualified for a new lower loan modification…they sent me the new contract with the new mort agate payment amount…they told me I had to miss a payment in order to be eligible…so I did so in January 2010…the trial period contract was for February, march and April 2010 for $1200 instead of $1696.. I paid on time every month..the end of April came and they declined me the new rate because I made enough money and I was on time with my payments…that is not what the Obama modification is…now ASC(wells Fargo) has put me into foreclosure…not on my fault because now they want the extra $496 from February, March and April from the contract that was $1200…how is that possible to come up with an extra $1500 on top of my mortgage payment of $1700…your company is playing games with families homes….now they won’t take my payments and they said maybe they can fix it…why are you trying to take people’s homes from them…what are you going to do with them is this horrible economy…do you want people to keep their home? Don’t you want your money? So why not help your customers? I will never recommend your company to anyone…

Count yourselves lucky, they put me into the HAMP knowing I had too many assets, took several extra months to tell me I was denied, but on top of that even though I have been checking the status of my review regularly they never told me that a confirmed call in payment was not processed therefore making me late. I used to have a very good credit score-but was ignorant of the HARP and not offered the chance to apply for it before all of this. There are agencies that can advise you for free/no fees-but nobody can make them do anything.

Subject: Mortgage Re-finance Scam?

I was wondering is there some kind of a refinance mortgage scam going on?
Is there some type of federal incentive that requires banks like Wells Fargo to help homeowners with Re-finance in lieu of foreclosure?

The reason I ask is that my brother whose home mortgage is through Wells Fargo seems to have this problem happening where after losing his job and taking a minimum wage job could not make his full payments of around $700 per month.
He accepted the fact foreclosure was inevitable and advised the bank he simply could not make the payments.

Wells Fargo said he qualified for a refinance program and after 3 months and a lot of paper work his new mortgage reduced his payments significantly thus allowing him to keep his home.
They guaranteed this was permanent and fixed following a 3 month trial period. 6 months later it stopped. When asking what happened they told him someone that processed the paper work failed to file “something” or it became lost. He had to start the process once again.
4 months ago and another 45 day process with lots of paper work he was granted a new mortgage, 30 yr (was originally 22yr) and lower payments that would go up 2% in 5 yrs, then 2% more in 10 yrs for the life of the loan. Then they told him the last two documents to sign would make this final.
He asked “are you sure this is complete this time?” and they assured him this was fixed, guaranteed and he was set for the 30yr loan. No further action was required.

They auto debited the first reduced payment. The following month no payment was debited from his account. When he called, Wells Fargo told him he was dropped. When he asked why, they said he failed to sign one more document. He asked why they didn’t advise him of that as how would he possibly know a document was missed.
Wells Fargo simply stated it was too late and there was nothing he could do. So back to possibly being foreclosed.

Twice his refinance option was mishandled by Wells Fargo, and he was charged fees for this and then they dropped his new mortgage reverting back to the original mortgage.
I was told by a real estate agent in Arizona he was hearing many complaints about this, that this was happening to many people and seems like its some type of scam with the banks.

What I don’t understand is why and what the bank would have to gain by what appears to be intentional mishandling of the process so that they may revoke it shortly thereafter.

Is something underhanded going on with the banks (or Wells Fargo)?

Concerned Consumer

I have had a commercial mortgage loan with Wachovia for 4 years for a house I rented. Never missed a payment. My credit score hovers around 800. Wells Fargo purchased Wachovia, and my loan. I am now getting divorced, and I am now living in this rental. I tried to refinance, had the process started, and house appraised. 4 months later, they won’t refinance because I do not have signed letter from the judge of where my finances will be when the divorce is finalized. Even if my wife takes 50% of everything I own, and hits me with 50% of my income, I will still be able to afford this loan. They still will not refinance even though it is with the same bank. To bad they wouldn’t tell me this 4 months ago when all this started. Even the process towards the end became crazy, like they were looking for any reason at all to pull the plug, but couldn’t find any.

WOW! I thought I was the only one! This bank is out scamming all of us, we need to stand up and fight back! Report this to the BBB and your local media along with the Attorney General. Wells Fargo contacted me about refinancing from 8.35 to 5.0% so heck yeah I jumped on it. Aftering paying their aprasier $420 to come out and tell me my home had decreassed almost $30K in 2 years. Followed a week later by my city tax assement saying my home had increased almost $35K...Wells fargo said the city assesor was wrong and there apprasier was correct, they would not refinace me do to lack of value on our property...I found another bank who sent out an apprasier (another $400) who said our home was valued = to our current tax assesment and we are currently closing with t his new bank, but not after Wells Fargo wants another $3, 800 for paying off our loan with in the first 3 years...There is so much more to all of this, but the bottom line is...

Wells Fargo is not doing honest busniess and we all need to stand up against this bank which is contributing to the fall of our countries middle class! We all work too hard for our money to have it snatched out of ours hands by greedy bankers with out a care for the average hard working American! Stand up and fight back! We cant fight this bank unless you get this kind of information out there! Stand up and yell, contact the BBB, local Media, Attorney General and anyone else that will listen!

My nightmare.

This began approximately 20 years ago, when i needed wells farogo services with a loan. My ex had gone bankrupt and took me with him. Now a single mom of 2 trying to buy a house, but of course still had to rent. 8 years later the only company that would assit me was wells fargo. The interest rate is at 11%.. i will have paid over 2 million for a house worth 160.000. When i started payments i requested weekly payments. Head office agreed to this. Now i am getting calls regularly because they didn't tell me 8 years ago the pain in the [censor] this was going to be. Apparently since i pay weekly, if i am 2 days late i am charged interest for that as well... in 4 months i may have delayed 4-5 payments, this is costing me a full payment by the 6th. plus continued weekly payments in order to catch up.. i have spoken with them many times to try and get out of this "[censor]" and they are insisting on charging me 6 months interest, which will be about $10.000... no bank is willing to pick this up.. so im STUCK! Now you tell me! is this anyway to treat a customer that has been loyal for the past 20 years. If i could give any advice to anyone thinking that this is the only place to go.. please plesae find another way.. this puts you in hell for life.. i still have 67 years to pay.. can you imagine! I should have gone to a loan shark, they may have had more compation!..

BUT DO NOT USE WELLS FARGO, , TAKE IT FROM SOMEONE WITH MANY YEARS EXPERIENCE WITH THEM

I was trying to save my house by applying for loan modification because of lost my job and living with limited income. Wells Fargo gave the chance for the trial period for three months and I am paying until now. I was updating my paper work every month and call every week to ask the status of my application. When I call Wells Fargo I talk to different people every week, but for this two three months they gave me a processor by the name of Tina, after few weeks Cherlyn finally Kenth David phone number [protected] ex 54730 he called me left a message I called him back and we did talk what send and he wasn't sure if I need 2009 tax return and I told him to send the list of document we agree to mail me the list of the document and he forgot at all. Finally I called Wells Fargo and I got the website to print and fill out and I called Wells Fargo for Kenth fax number, some one told me I been removed from the program after almost a year. At this bad time we need help. People out their are suffering with out help, especially with the people second language speaker to live the American dream to have house and to live a good life by working day and night. Our voice has to heard to all official in Colorado and Washington. I don't want to l give up to my house and others. please it must be done some solution to all home owners from Wells Fargo, they are not doing the right thing to the country and the people at all. I hope we may see some positive change to our country by helping each other. I thank you.

What a bunch of crap this bank is. Upon buying a mattress from a local store and financing it for 1 year same as cash, they contacted me about refinancing my home mortgage (Reynoldsburg, OH branch). They are simply desperate and shopping for business. Upon their urging, I met with them, received a bunch of talk from a obviously inexperienced and newbie kid along with a high pressure pitch to sign for refinancing. My credit score was above average 740 or 76o. I know that I have good credit. When I told them I wanted to shop around for other rates and was going on vacation and would need a few weeks to decide what I wanted to do, I was spoken to rudely over the phone. Upon returning from vacation, I recived a letter from Wells Fargo denying credit. Stay away from Wells Fargo. I am just relieved I was smart enough and didn't make a hasty decision and refinance with them. I plan to pay off the mattress ASAP and never associate with this lending institution again. BEWARE!

We have been trying for 8 months to refinance with Wells Fargo and theyREFUSE to help us. So we went to another financial institution and agian Wells Fargo REFUSED to subordate our 2nd mortagage for us to re-finance. Wells Fargo is looking into a modification rate for us and they came back to us with amount that is UTTERLY RIDICULOUS. It's apparent to us that Wells Fargo has no interest in customer service. We will do everything we can take our business else where. We have also written a note to our Congressman and we will be updating him your lack of co-operation. Forward this compliant to an employee of Wells Fargo that recieved my tax dollars in a simulus bonus this year and have him get back to me. We will be waiting for his call.