Wells Fargo Home Mortgagedistructive liars taking money

This review was posted by
a verified customer
Verified customer

I had a mortgage on my house with Wells fargo. I had bought and paid for 2 houses with Wells Fargo and paid off both my loans very quickly before, so I was using them once again. I was paying it twice a month instead of once a month to pay my loan off faster but most of my money was going into intrest, so I called up Wells Fargo and said how can I send more money to "principal" each month? The agent said well you'll have to refinance you house to do that. "We won't except more principal any other way". So I stupidly went along with it not realizing all I had to do was allocate more money to principal in each payment. They also charged me a fee of $400. for this as well. About 2 monthes later my family needed me to come back home and care for an elderly person, as there was no one to help her and she couldn't afford in home health care. So I called up Wellds Fargo, asked them If I could apply for another loan on another house out of state until the house I presently had (a very lovely desirable hous)e was sold. The loan officer said quote "Yes you have excellant credit and you qualify for a "preapproved loan." So I got on a plane and went back home to find a cheaper house quickly, and was able to find one just around the corner from my elderly aunt, So I could stay with her for long periods of time.
I called Wells Fargo along with my realtor and we both talked to the loan officer and he said " I was fine and everything was ready go they had my imcome tax recordds from the past 2 years my bank account records, a copy of my listing agreemenmt with the agent to sell my old house, WHICH HE CONFIRMED WITH MY WITNESS THAT HE RECIEVED, and that I had Quote: "pristine credit". I said are you sure that I'm ok to start moving?, she needs me here immediately. He replied to both me and my realtor quote "Oh yes! your fine! Go right ahaed I'm going to E mail you your approval!" I recieved an E mail in writing that I was approved and that I should start my move!" I was charged another $400. for processing again. So I got everything on the truck, transfered all my money from my bank to Wells Fargo bank in the city back home, had all my business transfered my bills, my insurence health and home, got the closing date settled on the new house. I paid the moving company $15, 000.00 I put down 20% on the house. I had the new house appraised surveyed, and inspected Then about a week before I was ready to get on the plane, I called up the loan processor again and said quote:" is there anything else you need before I go?" he replied QUOTE: "I DON'T KNOW WHAT I'LL NEED BUT YOUR LOAN IS NOT APPROVED NOW. WE CHANGED OUR MIND AND IT COULD BE BECAUSE YOU REFINANCED YOUR HOUSE AND YOU ARE USING IT AS A SECOND DWELLING. When I said that he had confirmed that he had recieved my listing agreement earlier, he said quote:" Oh yea that's right. Well I told the underwriters that you had a second dwelling instead and they changed their minds about the loan" I told him what I had been through and that he needed to straighten it out immediatly! He said well there's really nothing I can do. We have the right to change our minds even after closing if we want to. Its legal." I called up his suppervisor and complained and they said they would discuss it ???? I don't know why this loan processor lied about my house be listed, what did I do to him ???? but My family is very politcal. I've passed 3 bills in congress myself to help consumers. I'm now working on legislation to prevent this "SO CALLED LEGAL CHANGING AT ANY POINT AND TIME" I usually win these things I'm very good at this, and I have many good friends in the media to expose people like this and I intend to!


  • Ch
    Chiefs5824 Jul 26, 2018

    Being an employee of the company, I have read over 10 false/straight up lies on this one thread. Everybody just complains about "not being approved for a modification, " yet we have about 1400 modifications representatives who take back to back to back to back phone calls all day, and approve modifications left and right. I work in a different department and after reading so many complaints about "WF denied my modification" every time I transfer somebody to the modification department due to "financial issues unable to pay for mortgage" I follow up about three weeks later, and viola, modification approved because the customer did everything correctly and how they are supposed to. You would only be denied a modification if, shocking, you don't complete the process correctly. You don't just get denied because, well we don't want to do any modifications today sorry. It costs us thousands and thousands and thousands of dollars to foreclose on a house, that is the last thing we want to do.

    -Actually informed mortgage expert.

    -1 Votes
  • Tw
    twincollector Jun 25, 2009

    We are had to leave our home in GA to move back to CA because my husband lost his job. Our house was vacant for several months and with our CA expenses and no income we fell behind. We don't live in the GA home and don't qualify for a modification. You hear all about programs out there that are willing to help you and WHERE ARE THEY. Wells Fargo REFUSES to work with us. Even with renters in the home, we are out of pocket $600 every month. WE NEED HELP to catch up. [email protected]

    0 Votes
  • Je
    Jen Mar 16, 2009

    I have also been given the run around with Wells Fargo. We experienced some financial issues when our daughter was ill. Since we didn't have insurance to cover the medical costs, we had to pay for the medications out of pocket, which were quite expensive. This happened in 10/2006. We ended up 2 months behind on our payments. We did qualify for a loan modification which gave us another month not paying the mortgage payment and lower payments for the next three months. At that point we would be able to apply for another modification that would allow us to pay larger payments to get all caught up. Somewhere during this repayment process things went wrong. Wells Fargo returned a check t0 us as NSF, which it, in fact, was not. It ended up costing us overdraft fees, late fees, etc. THEN we ran into more financial difficulties due to poor home inspections when we purchased the property...which FYI to anyone buying a home through FHA, you don't have to pay for inspections that exceed a certain dollar amount. I cannot remember the exact amount, but we paid almost $1, 000 in order to assure that we would not run into problems. We needed to replace our roof, which had passed inspection just 2 years ago. We were informed at that time that we wouldn't need to worry about it for at least 10 years. We both had shaky credit so most of the cost to repair came out of our pocket putting us behind on our mortgage payments again. BUT what could we do when the leak was so bad it had soaked the second floor ceiling to the point that it caved?! I won't get into all the details from that point on, but I will say that we fell 3 months behind on payments, tried the partial payment catch-up and WF denied. We received a loan modification, but at the end of modification period we were denied assistance in dealing with the balloon payment that was due. Wells Fargo filed foreclosure motion on our home in Jan. 2009. This was our first home and our first experience in dealing with such a huge investment. The special programs available for 1st time buyers, etc to aid you in the process, in my opinion, are a bunch of bs. We could easily have made our regular monthly payments from Dec '08 till now, but due to the refusal of the bank to provide help, we are without a home.

    0 Votes
  • Po
    popecko Mar 16, 2009

    I hope when you go to congress, you also mention how they refuse to help people who are only 1 month or so behind! I am told that they won't take partial payments to help me get caught up (even though that is an option on their web page). I am mourning the loss of my mother on Feb 21st and requested help to get caught up after having to pay for the funeral. The woman on the phone entered all my financial information and said "There are no repayment options I can offer you." What a JOKE! I pray that you have success with your issue with them. What a bunch of... I don't know what!

    0 Votes
  • Ab
    abouthomelesss Mar 09, 2009

    I am also having problems with wells fargo and will never bank with them again as soon as my mess is cleared up. I had financial difficulty and got behind in my house payments I am currently trying to pay all of my past due payment but they return my checks and give me the run around about having to call a law office to make my payments but the law office keeps referring me back to wells fargo to make payments. in the mean time wells fargo says that they have placed a foreclosure on the house and the law office will handle the payments. This wouldn't be out of hand if wells fargo would just take their money and stop playing games. I also received a loan modification letter without even asking for it and when I called the 800 number I was rudely told I don't qualify and I had even given the person on the phone any information.

    0 Votes
  • Sa
    sam may Nov 21, 2008
    This comment was posted by
    a verified customer
    Verified customer

    sorry to hear about. your demise w/wfhm. i feel ya. i've been finaced with wells fargo for 10 years, and never been late on a payment, untill recently. my spouse broke her neck in an auto accident. lost her job, on and on problems. i am 90% disabled from the us army and have a perm income. i was late on october and when i ask to pay, they would not take a debit or a check routing & #. i had to send a cashiers check. i told them my problem and they sent me an application to modify my loan. before i even filled it out they called and said i do not qualify? they know i have alot of equity and they refuse to work with me. i still am behind for nov. and get called all hours of the day. they want to take my family's home. i lost my blood and hand for this country, only to be harrassed by a bunch of money hungry idiots. i am about to break and give up. i just don't have the strength to fight anymore, done enough fighting. i am ashamed of wells fargo for being so heartless. i'm trying to get help from the disabled american veterans, but if not they have to live in their own skin and look in the mirror. i just hope and pray that the young warriers coming home don't ever have to experience wells fargos ungrateful, distasteful acts to us vets,

    hey good luck and god bless america
    sam may

    0 Votes

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