I have been a Wells Fargo customers for the past 27 years as a mortgage holder and several bank account personal and business. After paying down my mortgage to a balance of $3408.00.
I decided to applied for a home equity line of credit. Knowing Wells Fargo held my current mortgage and them knowing my history i applied with them. Only to get to the process of being conditionally approved by the bank and after 2 weeks of waiting to be declined. I have paid my mortgage on time and sometimes paid more than whats was due on this loan.
Only to be turned down. If you the bank are in the business of making money why you can see this as another business opportunity I don't understand. For you to not stand behind me when I need you as my banker. It's not like I was asking for a lot of money just $30k.
Our home is worth $502k go figure. But what you came down to was my little salon has showed a loss and that showed no stability. Well that salon has held its own without a small business loan and has had it door open for 13 other independent contractors to worked there small business. The sad part is offer me a solution instead of just saying NO.
My take on this is in 3 months I will have more income of about $1200 more a month because I won't have to pay a mortgage. I guess I could take it from my deferred compensation account but then the taxes on that is about $2800. Why Wells Fargo would not take a chance on me lets me know they don't care about there relationship with there customers. What's funny is I stay with you once I found out YOUR company was giving African American and Hispanics customers loans that they couldn't afford or making sure the interest was so high they could not afford it.
I think you call that crooked business dealing.
Yes I am African Americans and for those reasons I am taking it personal. You should be ashamed of your practices.
Product or Service Mentioned: Wells Fargo Home Equity Loan.
Reason of review: Order processing issue.