Comments on: Essential Tips When Applying for a Loan Modification

By: carol s

carol s — Wed, 04 Jun 2008 04:32:23 +0000

We are victims of Wells Fargo bait and switch mortgage. Adamant about having a fixed 30 year loan and being pre-approved for such, at the closing table, the documents revealed a 30 year loan with 1st 10 interest free. That means payments double in 10 years. It IS a subprime loan. Our FICO is rated A. Walking away was NOT an option as that week movers were showing up to pack us for the cross country trip. To not close meant losing the house, and the job/promotion we were moving across the country for.

Now Wells Fargo won’t let us refinance through them…they use Zillow online (don’t have to tell y’all why that is wrong) for their appraisal, and our appraiser says the house is work 80k more than we owe. Wells Fargo insists it is worth 70k less than we owe. We are hoping a mortgage broker can help. There should be criminal repercussions for the bait and switch game. Wells Fargo insists it’s the broker’s fault, but they’re the ones that did the change at the last minute ,when they knew we couldn’t walk away. They had 2 months to let us know the terms were changed. We were told we qualified carrying 2 mortgages (our old house hadn’t sold yet), just that our fixed interest rate would be lower if we sold the other house before closing. Nowhere at no time did they say they were going interest only until they snuck it into the paperwork. The truth in lending does not resemble what we were given at all. (umm….30 year fixed does not equal interest only in any definition).

By: My home is not worth the stress anymore. I am getting a U-Haul and I am loading everything up. | Loan Modification & Home Loan News

Sun, 01 Jun 2008 13:28:48 +0000

[...] Submitted by JB Lawerence - Soon to be an ex-homeowner [...]

By: Jeffrey Lawrence

Jeffrey Lawrence — Sun, 01 Jun 2008 08:03:44 +0000

My home is not worth the stress anymore. I am getting a U-Haul and I am loading everything up. Im taking all my window coverings and blinds. Im taking all my appliances and air conditioner. Im pulling up my grass and my beautiful trees I planted. I am scraping up my extremely expensive garage floor epoxy coating. I would take the carpet too but my dogs peed all over it. I am moving down the road a bit to an even bigger and newer house that has never been lived in before. The rental payment is only half of what my mortgage payment is. I wasnt born yesterday. Good Bye ASC (Wells Fargo) good riddence. PS: I hid the keys, have fun finding them. Oh and by the way ASC be sure to disclose to the new owner that the house has a documented mold history. You wouldnt want to get sued now. JB Lawrence.

By: marianne keim

marianne keim — Wed, 27 Feb 2008 01:04:23 +0000

Well I must say what an array of problems…I have attempted to short sale 4 houses in tampa, florida over the last year and what a disaster…and all I am doing is trying to keep the borrowers out of foreclosure and get the properties off WF’s books but these people are impossible…case in point right now, I have a house that has mold, termites, repairs galore, next to a Phone Truck Plant and I have had it up For Sale for 69,000. and now 49,000. for over 4 months without one serious buyer and I offered WF 58,000. and they keep insisting the house is worth $100,000. and they did the appraisal from their offices without coming out. WF/ASC is going to have more REO properties than they’d like real soon.

By: Wayne Power

Wayne Power — Tue, 12 Feb 2008 05:36:31 +0000

I FORGOT TO SAY THIS I DID TRY TO REFINANCE MY HOME LOAN AFTER I FELL AND DID TRY TO PUT MORE MONEY DOWN BUT THERE WAS NOT ENOUGH EQUITY LEFT IN MY HOME BECAUSE TO MANY PEOPLE IN LASVEGAS LEFT THEIR HOMES.WHEN I DID CONTACT WELLS FARGO THEY TOLD ME SORRY WE CANT DO NOTHING EVEN THOUGH WE GAVE YOU THIS BAD LOAN. WELL WELLSFARGO IF I CANT STAY AFLOAT YOU WILL JUST HAVE ANOTHER EMPTY HOUSE AND I PROMISS I WILL TAKE EVERYTHING OUT THAT I PUT EXTRA IN INCLUDING THE LAWN.YOU WILL ONLY GET THE SHELL. O YA NICKIE MY LENDER FOR WELLSFARGO SOLD ME THIS LOAN AND MY CREDIT WAS GREAT WELL INTO THE 700 HUNDREDS AND SHE SAID THIS IS THE BEST LOAN.SHE LIED AND I HOPE SHE GOES TO JAIL FOR BEING A ASS FUCK LIAR AND A THIEF TO FILL HER OWN POCKETS.

By: Wayne Power

Wayne Power — Tue, 12 Feb 2008 05:23:21 +0000

DON’T TRUST WELLSFARGO UNLESS THE CAN PUT WHAT THEY SAY IN WRITING FIRST AND IF SOUNDS TO GOOD IT IS.

By: Wayne Power

Wayne Power — Tue, 12 Feb 2008 05:22:44 +0000

DON’T TRUST WELLSFARGO UNLESS THE CAN PUT WHAT THEY SAY IN WRITING FIRST AND IF SOUNDS TO GOOD IT IS…THEY CANT HELP YOU LIKE THEY SAY.

By: Wayne Power

Wayne Power — Tue, 12 Feb 2008 05:18:27 +0000

IF someome from wellsfargo does really care they should contact people who are in foreclosure and bring down intrest rates to help those who can really afford to keep their homes today in stead of being so @#$%greedy.Bacause idid send in my hardship letter and bank statements and tax forms and everything that was asked from me to only talk to twenty diffrent people who all told me something diffrent was not right..And the last person who I talked to hung up on me and her name was KYE and she works for the loss modification dept.And I also spoke to DEBRA in the same dept but was nice but only trained the way wells fargo wants her to be .then I spoke to JANETT hell no answers but only to say o well we cant lower your payment.and raising her voice every time i said something.well guess you will have to move.And I spoke to Flouand john and mark and justin and alice and babra.ALL DIFFRENT ANSWERS…I GUESS I WILL HAVE TO MAKE THIS PAYMENT TO KEEP MY HOME BUT I LOST EVERYTHING ELSE MY CARS CREDIT CARDS AND MY CREDIT AND MY LOAN IS STILL NOT MODIFIED AND I AM STILL IN FORCLOSURE I THOUGHT IT WAS THE FEDRAL LAW TO HELP THOSE THAT NEED HELP……

By: Wayne Power

Wayne Power — Tue, 12 Feb 2008 04:49:26 +0000

Wellsfargo really doesnt care if you lose your home they are only out to protect their own name. I called them 10 months before i knew i was going to have a problem with my mortgage. I did explain to them that I
fell and did hurt my arm and did get a staff infection and to do something to save my home before i get in trouble.Remenber 10 months before.What was said to me call back a month before you cant pay.Well now im 5 months behind and losing my home.I was lied to twice about my loan modification the terms were changed do to attorney fees that were to put on my payments.I was told that i was to only make my 6.0% mortgage payment for 3 payments of 3072.00 and the forth payment would be modified on the phone and this person name is Barbra who works for the collection dept for wellfargo modification dept.Well after getting the terms in the mail i did notice my 1st payment was 3072.00 but my next two were 3778.00 because they tact on attorney fees.But for some reason that was my old mortgage payment but they did tell me those are attorney fees bullshit.Ive been working with company for ten months and they only care about thier best intrest because they are a large company and can.Dont be fooled by these jerks.Because if you believe them like I did you will losing you lifes savings like me because no one in a large corperation really cares.My advice to anyone who gets hurt like me that caused this hardship dont trust your mortgage people because they are onle trained to say yes until they take your home.O ya you will also never deal with the same person it will be 20 millon other people.And you will always get a diffrent answer so record everyhting that is said and dont tell them your recording and you will see how many diffrent answer you will get.Wellsfargo does really suck.

By: Candy

Candy — Mon, 11 Feb 2008 21:58:32 +0000

here’s the link to see where Wells was in originations of sub prime. In Q3 07 they were #1. From everything I read the banks are definitely not showing losses on the books. Look at the newspaper… WAMU, Wells, B of A have been doing a great ad campaign to get more people to open Savings, Checking Accts. Guess Why????? NO CAPITAL……. I’m beginning to think the safest place for you money is under your mattress…
http://data.nationalmortgagenews.com/freedata/?what=bcor