Post Number: 1
|Posted on Friday, May 16, 2003 - 12:24 am: ||
Our exspreince with Wells Fargo Mortgage was a mistake,1st they never did release our construction loan from the records at the county clerks office,it said we had two leins against the property instead of the mortgage loan,it said we owed almost180,000,00 dollars,but only half that,we have lived up here,for13 years,tore the old one down,bulit a new one,my husband lost his job,i wrote to them for help,no response they did send us to a mortgage resource company in new york,but they did not gaurenteed help but they would be happy to sell our home for us,he lost his job and we have been dealing with his health as well,i wrote them one month before his unemployment was up,i was a house wife and told them i was not going to be apart of the loan,but my name is on the property,I wrote to my senator for help with ss,and for mortgage help too,i am my husbands caregiver and i am a caregiver now to the elderly,I found out if you have a regular loan not the government loan hud will not help,I found out by a source any letter wrote to them for help they throw it away and not go to the right people for help they make profits off of selling or forclosing on profits,i Talked to a banking attorney,he use to run 2 of our local banks,he called them loan sharks,he said check your local banks out first,The today show had a guess on it and banks would rather work out a solution to your problems and not foreclose because i found out by another source because they are penlized on that,our country is in crises,Wells Fargo prays on that,If you are a victum of them write to the government,i wrote to the president,my senator,and representive,not only about them but for my husband to get his disablity,i did not get any where,we all must work together and get them band to ever give another high risk loans to everyone,because they will steal your money and your american dreams to have a home of your own for you and your famliy and they want to make your credit damaged,So go to a bank not to mortgage companies like wells fargo. thank you amy ps sorry about misspelled words i have been out of school to long
Post Number: 886
|Posted on Friday, May 16, 2003 - 10:28 pm: ||
Amy, don't worry about spelling, appreciate your sharing.
You wrote "So go to a bank not to mortgage companies like wells fargo."
Thing is, Wells Fargo is the nation's 4th largest BANK.
It really doesn't matter where you go. I've been dealing with foreclosures for many years, and all I see is things get worse by the month.
It's a sign of the times, and it's very unlikely that the trend will reverse.
You MAY be able to do better with a local bank, but I'm old enough to know that big banks buy local banks. You can't imagine how many times I've opened a checking account with a "local" bank and a year or two later they were Wells Fargo or Bank of America.
Local banks also usually sell their loans anyway.
And it's not only the banks' fault. When somebody can't make their payments due to illness or job loss, disability and unemployment are supposed to kick in.
However, benefits are being cut across the board, and that's the fault of people like President Bush. It's more important to give investors a tax break.
That's because investors make campaign contributions, and people on disability and unemployment don't.
And of course banks make HUGE contributions.
That's why a federal court ruled that Wells Fargo doesn't need a license in California where regulators recently revoked it due to their failure to comply with state consumer protection laws.
That's just how things are ...