Complaint Rating:

Company information:
Wells Fargo
California
United States
wellsfargo.com

I was talking to an escrow agent from Wells Fargo (who was very nice) when she said that my loan was eligible for the Home Affordable Refi Program. She asked me if I was interested in that, so I said yes and was transferred to loan officer. She seemed helpful at first and said that my loan was, indeed, eligible. Then she did the costs for it and it seemed that my payment would be a little higher than it is now. I didn't mind that at all (we can afford it), but she kept on trying to play it down like if it were some major increase (it was less than $100). I told her I wanted to go ahead with the 30 year fixed refi. She then went on to do the dreaded debt to income ratio. Unfortunately, she said I was right below the thresh hold and had to go talk to her supervisor. They denied even going forward with the refi because of it. I tried to tell her that the debt to income was not accurate because my husband pays half of everything. She said it didn't matter (which clearly it does, because it's wrong). She said that the only thing that I could do is get a mortgage modification, but that is if I default. At this point, I said, "So basically, what you're telling me as a customer that pays faithfully and on time, that you can't help me, but that if I decide to stop paying my loans, you'll help me?" She got defensive and asked me why I never put my husband on the loan, and I told her that he wasn't my husband when I bought the house. Then she said I shouldn't have gotten a loan that I couldn't pay (which I can...in fact, I was willing to pay the adjusted payment which was $100 more. I just want a 30 year instead of the ARM). I got angry and said that maybe I wouldn't be in this predicament if banks weren't pushing out ARMS like cocaine-laced candy. She then said, "You are preaching to the wrong choir here. There are plenty of other soapboxes to go around. Go talk to Obama." At this point, I was literally flabberghasted. Obama? Are you serious? I wanted to explode, but figured she would send my information to flag@whitehouse.gov