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Unpresidented Foreclosure
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Mar 3, 2008 Wells Fargo complaint by Mad Hatter |
We moved to GA back in Oct of 2007 from KS. We had a home in KS, that we had been payin on for 7 years. Just this last year of 07 did Wells Fargo decide to start raising our payments about every 2 months. By the time we left to come to GA, our payments were up to 532. We had been talking to them and had been keeping them informed and when we got to GA, we started the proceeding for hardship and filled out all forms and sent in all papers and documentation that was needed for approval.
We waited and waited and unfortunely for us they never did nothing to help us get caught up on our payments nor did they offer any type of help to keep our house out of foreclosure.
Every time we called to find out what we were to do and how much we were to pay, they would only say that our case was still in litagation, and that it was still pending. This went on for 3 months, while we were experiencing fianancial hardship of worse kind.
We were wanting to save the house and rent it out and that way we would be able to have some income once in a while.
Wells Fargo Bank would not work with us and would not even try to fix the problem. Instead they sent us into foreclosure, with no way to save the house.
Wells Fargo Bank is not one mortgage company I will ever recommend to anyone. They don't care about their customers or their reputation, as a caring buisness.
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1. Written by Unknown, on 28-04-2008 21:31
Your first mistake was to move out of your home into another property and take on more then what you can afford. Payments increase on a property usually due to taxes/insurance or a shortage in your escrow per your local county and not on behalf of the mortgage company. The mortgage company does not place anyone in foreclosure. You place yourself once you begin falling behind 30 days and so forth. There are many people who have economic hardship and not everyone can be helped at one time. My advise would be to next time go through your financials and any other payments being made to creditors so on and so forth and try to make any adjustments needed so you can afford the property. Also, never move out of a home without actually selling it first.
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2. Written by JC, on 17-04-2008 19:26
Hi, just an FYI, Wells Fargo or any other bank doesn't just "decide" out of the blue to start raising payments. It's called an ARM loan. Pay more attention next time when they tell you your payment can increase or decrease 3% every 6 months. Next time get a fixed if you can't handle the terms.
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3. Written by Bob, on 05-03-2008 21:29
If you communicate with the bank they WILL help you.......Ulitmately you took out the debt it's YOUR RESPONSIBILITY to satisfy that debt. Oh and I know that your were probably offered insurance to cover if there was unemployment or death or disability or accident to MAKE YOUR PAYMENT FOR YOU!!! But you probably thought the representative was trying to snow you or the exta 40 to 60$$$ a month was too much with a 530 dollar payment ON A MORTGAGE!!!! Complain when your making a living wage and trying to pay a 1800$$$ mrtg which is oh average in most of the US! Good luck and as a non residing owner your property was probably considered potentially abandonded which is a serious risk to the asset and the lender.
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