Miami, Florida
Not resolved

I, like any consumer wishing to pay their debts down, have been considering a debt consolidation loan, and attempted to apply for one through Well Fargo Bank. I have good credit, stable employment, and even recently payed off my auto loan early, also through Wells Fargo.

Despite my apparently good standing, this bank turned down my application. They are sending a letter to explain, but nothing in that letter can possibly justify what has become standard policy at most banks.

What makes matters worse is the enticing ads these people run, on both internet searches, and their website, promising relatively good interest rates, specifically to pay off high interest debts. Needless to say, my debts will still be payed off, and this bank will be avoided at all costs by not only me, but anyone who doesn't want their time wasted on empty promises, not to mention hard inquiries.

Product or Service Mentioned: Wells Fargo Loan.

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I wanted permanent financing to replace the construction loan coming due on a vacation home I acted as general contractor on. After 6mo, 600+ pages of documantion, and 3 loan officers, I still do not have financing.

Even if they could get it done in the next week (not likely) the interest rate has increased since the beginning to the point I'm almost at break even on paying cash or taking out a mortgage.

What they do may not be illegal but it's certainly unethical and will untimately cost me about $30000 extra to the IRS. :sigh :(


WOW!!! I CANNOT BELIEVE EVERYONE SAID no !YES, YES, and YES- you CAN sell a house without painyg off an existing mortgage.1) If the mortgage is assumable, by all means yes!

All you need to do is assign payments to the buyer of the property. It may require the lenders consent or it may also be contractually prohibited by a due on sale clause.2) If the mortgage has a due on sale clause but it is current on payments, why would the bank call the loan if the payments kept coming in???

If it's not broken, don't fix it right?-They have got bigger fish to fry such as the many, many foreclosures that have been occurring all across the nation.You can even create a Wrap around mortgage and create a revenue stream from the sale by having the attorney who processes the transaction create an All Inclusive Trust Deed (aka AITD) and ensure that the larger mortgage has a higher interest rate than the smaller mortgage.And to ensure that the bank does not call the loan, you can deed the house into a trust that you own who then sells the property creating the wrap.But consult an attorney about the matter for sound legal advice.BUT HERE'S THE GREAT PART-Once you sell the property and create your wrap, you can sell the wrap to if you follow the best note guidelines. But call them up just to make sure they can buy it.Call me up, my contact info is on the site I just mentioned, I'll answer any further questions you have.


:upset wellsfingfargo.#~*A $800.00 bill.before the first statement came I made a $400.00,payment,then i get a bill for $35.00 first payment.I called what is this half the bill is paid already.Give me a break.


:( I tried to refinance with Wels Fargo from November 2011 to May 2012, to no avail. They changed mortgage brokers, required me to send my entire life documents, and did not return phone calls.

I have excellent credit, 20 year stable job, only bills are a house note and student loans. Like the previous comment, I waisted a lot of time with this bank. They did not refinance me for what ever reason.

I will never use their service again. They were awful.


your problem was paying off your car loan early.


I started banking with wachovia,Now wells Fargo has taken over? Do you know your routing and account numbers are not the same never was told of anychanges to my accounts wells fargo changed my accounts numbers.with out me knowing it.


wells fargo screwed me, they took over my auto loan after wachovia went under,ever since they had it i was late i was a month behind, i would send them double payment same bull one molater,this just goes on and on so one mo isent them 1200.00 for a 2005 used vehicle and my word they started again the following month,it never ends,if i didn,t need the car i would run it off amountain to total it out :(


Anybody trying to refinance their home with Wells Fargo and having any luck? I've been trying for over 2 months and they don't ever get back to me to tell me what's going on.


I'm convinced most banks collaborating together to keep people in as high of interest debt as possible. Even during the depression, bad businesses would fold, unlike today, where they are kept afloat by the very tax dollars of the people they are screwing. :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :( :(

Howard S

In regard to the first comment, no, it was not a refinance, but an attempt to get a debt consolidation loan. There was no active loan with this bank, but they had to be aware of my good standing, in paying my auto loan off early.


The above was meant to be for a RE-Fiance loan.


I am currently financed with wells fargo auto financing. Key word “ALREADY”.

Perfect history record. After speaking with a Beth M. Paulson, I was guaranteed to be finance no problem. This was the worst customer service I have EVERY encountered.

Phones and email messages went unreturned. And then at the end I was told I could not be financed because I filed Jointly with my HUSBAND and they would not be able to determine my income. Even tho, I sent in All of my earn income, just to be told, sorry, because you filled taxes with your husband, so we can’t verify your income. WHAT?

I already have a credit history with you!

This is absolutely ridiculous!


@alina towns

Horrible, just horrible....


You obviously both don't know what your talking about, and don't understand underwriting.


I am an adult, and i know wrong from wrong.

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