Wells Fargo - MORTGAGE DISASTER

I have an adjustable mortgage. The value of my home has dropped 27% based on comparable properties in my tract. Wells Fargo/ASC has claimed to work with me but they just yank your chain. My rate is now at 9.95% and we cannot continue to do this. It seems to me that with all the losses the banks should be willing to work with homeowners, adjust their rate and market value and get them back on the right track, instead of ripping their houses out from under them. My credit used to be above average and now I have less than 500. This doesn't just affect me, it has affected my marriage and my 13 year old twins. Where are the answers?? And yes, I have to file bankruptcy.
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4 comments
Anonymous
#32727

Pending Class Action with Wells Fargo contact Miles Brascher

MEB101331@AOL.COM

He is an Attorney looking over the cases

Anonymous
#28883

i would get out of asc's clutches fast!

they are no good!

the feds should be after them soon with all these mortgage predatory "crack downs"

avoid them like the plague!!!

they have rude customer service.

Anonymous
#25235

Although it is truly a tragedy when our homes are taken, I feel we only have our selves to blame. What did you expect an adjustable rate mortgage to do?

It adjusts. Unless the bank tricked you into getting a adjustable rate loan instead of a fixed, how can you hold them responsible? Do I work for a bank? NO.

Do I like wells fargo? Defiantly NOT.

however they are simply doing what they said they would do if you picked this kind of loan. Are we so unable to take responsibility for our actions?

Anonymous
#11397

i am in the same situation. I have been trying to do a loan modification since December 07 with ASC and still nothing has been accomplished.

There are so many different reps that answer one person tells you one thing and the next day someone else tells you different. My rate was @ 7% and it is now at 10% big differnece and its going to adjust again i July. I am sick and tired of this mortgate company yanking my chain too!!! :( I ask to speak to upper management and all of a sudden nobody is available.

Who can we really depend on for help,"NO ONE".

ASC sends me letters telling me to contact my local HUD agency i did that and still no response. WE NEED HONEST, RELIABLE HELP!!

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ID
#119697 Review #119697 is a subjective opinion of poster.
Location
Los Angeles, California
Service
Wells Fargo Mortgage
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....
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5 comments
Lisa G
#57741

Hey Bob you are wrong.We also have Wells Fargo as a lender.And no they won't help you.They raised our payment almost $300 dollars to pay escrow which we never asked for.Then when we tried to get them to help redo the intrested on the loan to lower the payments they did the samething as they did to the person above.Not one department knew what the other department was doing.It is a disgrace when Wells Fargo takes millions of tax payers money,and then doesn't wanna help the people who they should be helping.

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ID
#114439 Review #114439 is a subjective opinion of poster.
Location
Toccoa, Georgia
Service
Wells Fargo Mortgage
Loss
$39
I TRADED IN MY 5.25 NEG AM LOAN FOR A 8.53% LOAN WITH WELLS FARGO FINANCIAL BANK...WHAT A *** I WAS!!!...THEY PAID OFF SOME DEBT, BUT CHARGED ME 28,000 IN LOAN FEES, AND DOUBLED MY PAYMENT. THEY APPROVED THE LOAN KNOWING I COULDN'T MAKE THE PAYMENTS DURING THE...
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3 comments
Anonymous
#48844

Craig, I guess this is what WellsFargo does to military indiv cause they have a lot of military accounts. My son had the same problems.

After having vehicle and paying for 4 years, he still owes 17,000 for orig 19K. Then we tried to get a payoff, non for 3 years. Drop lien and then repo/stole vehicle after 2 years no contact. U 2 should write a complaint 2 Federal Trade Commission.

May enough complaints and they will do something. (Maybe wishful thinking).

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ID
#108551 Review #108551 is a subjective opinion of poster.
Location
Kissimmee, Florida
Service
Wells Fargo Mortgage
WELLS FARGO, dba, AMERICAS SERVICING COMPANY TURNING THE AMERICAN DREAM INTO A NATIONWIDE NIGHTMARE In November 2007, Wells Fargo d.b.a. American Servicing Company (ASC) decided to escrow on my mortgage loan. For no reason. My taxes and insurance were always paid on...
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2 comments
Anonymous
#56092

A lot of people considered their home (and what used to be) their acquity as their saving and retirement investment. Why would you question that Caveat Emptor?

After all, for MOST people that is the biggest investment they ever make.

Unfortunately, now that home prices have nose dived, many people have a big liability (their home) instead of a live in nest egg.

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ID
#105462 Review #105462 is a subjective opinion of poster.
Service
Wells Fargo Mortgage