CHARLESTON, SOUTH CAROLINA -- I am writing to inform the public to stay away from Wells Fargo. They bought my loan from American Home Mortgage in early Aug and they waited until my closing date on the 24th to let me know that there was a "hiccup" with my loan. The "hiccup" was that they now needed to review the loan because their standards were different.
I'm a first time home buyer and was guaranteed that I had a FHA home loan. I provided all of the paperwork and went through the whole process. I was given a good faith estimate by Wells Fargo and a closing date by the lawyers. I was only informed of a problem through the home insurance company who had not received the paperwork needed for closing on Thursday. The mortgage broker assured me on Thursday that everything was fine and that the closing was being moved to Monday that they were waiting for the papers from the underwriters. Keep in mind I was prepared to move on the weekend. Everything was packed in boxes.
I gave 30 days notice to my apartment complex. The moving truck was rented. I sold my old washer and dryer because a new washer and dryer was being left behind at the new house. The seller was in the military and had already received new orders.
His wife and child had already left the state. The seller had a plane ticket to leave Friday night after closing. The ticket was nonrefundable. I decided to call the lawyer. He informed me that the closing was put off indefinitely and that I needed to contact my broker. Then my broker dropped a bombshell. She informed me that it would be a week or more before they could make a decision on my loan. Again keep in mind I had been informed that I already had been approved for a mortgage loan. I was in tears. My husband was in tears. My family was in tears. The seller was totally distraught and asking me, "What do I do now?" as he sat in my realtor's office.
My realtor had NO clue about the "hiccup". After 17 unanswered calls from the realtor to the broker, the broker called my husband on Friday, the day of closing, and said, "you might want a plan B." The result is they dropped the mortgage loan at closing.
I am not alone. There are 5 other families in my area that they did this too. I know there is a law about full disclosure. I don't think keeping everyone in the dark was lawful, fair, or moral. If I had known in early Aug when Wells Fargo bought American Home Mortgage, that there may be a problem, I could have been better prepared. What happened to at least 5 families in the Charleston SC area is wrong. Sincerely, Devastated in SC.
ANCHORAGE, ALASKA -- I recently looked at my Wells Fargo account online and saw that I had been assessed $261.00 in overdraft fees. I had 9 transactions totaling $36.00 that were made in a 2 day period. A full week later our car payment was taken out for $414.00, but it was posted before all of the previous weeks transactions (all of which had shown up online in the previous week) and subsequently overdrafted my account by $30.00 and some change. I incurred 9 overdraft fees for $29.00 each. I realized that I had made a math error of $30.00 when calculating my checkbook.
I called Wells Fargo to talk to a supervisor and ask why the car payment had posted before all of the other charges, and was told by a supervisor named ** that "I am sure this is not the last time your account will be overdrawn and if you don't like it you can go to another bank, but until you figure out how to spend your money, you will continue to have the same problem." Then she hung up on me. I was treated like I was a criminal, all for a $30.00 addition mistake. I have tried to contact the complain department, but they are never available, I was told that the best way for me to get a hold of someone was to send a letter, I have done that, but have not received a response yet.
We will be closing our account next week. If any of you are interested in changing the way that overdraft fees are assessed by banks you should e-mail your state congressmen and tell them to support the Consumer Overdraft Fair Practices Act, it would require banks to notify their customers before they make a transaction that would overdraft their account, and it would prevent banks from being able to post checks before charges that were made prior to the check being deposited.
This company operates in a very unethical manner. They promised 0% interest rate in the first year. I asked if this included balance transfers. They said yes. I got the checks and paid my other credit card account and their check bounced. They said I did not have the right check, which THEY sent me. After paying with the replacement check I got the bill. My interest rate was 24%. They said they considered this a cash advance and that was the reason. I have a credit score above 800. They said I had to have a clean six month record to lower the interest rate.
My payments starting becoming mysteriously late even though they were sent in on time so I tried paying them over the phone. One payment they said was not applied due to "clerical error." They said since it was not my fault I would not pay the late charge but sure enough it was on my next statement. I tried using Western Union Quick Collect. I was assured they would credit me the day I sent in the payment.
I did the wire on 12/10 and gave them the control number when they called on the 15th to say my payment was late. They said they never got it and I would have to track it myself. They eventually said they got it on the 19th and could not adjust my account to show this or credit my late fee because it was not their fault. This is after numerous other promises were made to me about lowering my interest rate etc. which were also never kept. Warning!!!! Do not do business with these crooks. Try a more reputable company and any company that repeatedly mails you offers is suspect. I will be paying off this bill with my next statement. That's my "4 cents".
I have financed several vehicles in last 25 years. Wells Fargo is the worst I have ever dealt with. My payment is due on the 13th. They call on the 14th 5 to 6 times a day. I contacted their collections. The rep told me that their computer calls the residence until the payment is in. Therefore, I get phone calls at 8 am until 9 pm ever day until then. I have even made arrangements and the calls continue. I have asked them not to call my house, but they ignored me and continue. I have seen that they are listed on the "Rip Off Report" 57 times this year for the same reason. When will the departments who overlook these practices step in and at least minimize the harassment?
HIGHLAND, NEW YORK -- After completing all the paperwork and signing all the many many forms, I sent back everything and Wells Fargo called me and told me they could not accept one of my signatures that was "whited out". OK so I had an additional copy that they asked that I sign and send back 'overnight'. They insisted that I send it UPS and not US Postal Service. UPS wanted $76.00 for one envelope to be sent overnight. W.F. said they needed it by Monday. I sent it on Thursday, to arrive by 3PM Monday @ $26.00.
Now they tell me the envelope did not arrive on time and they want to start the whole process over again. Their insistence to mail by UPS and the whole "whiteout" crap got me frustrated enough to go to another lender and tell them they lost my business.
NEVADA -- I will get right to the point. I was left two bank accounts by my grandfather who passed in 2002 one account was in trust for the other was a payable on death account which was to be given to me upon the passing of his two sisters. Both sisters have passed the last passed in August of 2006 I was never contacted of her death as I live in New York, they resided in Nevada. When I contacted Wells Fargo about my account I was told my 87 year old aunt closed this account in April of 2006. If this account originated with my grandfather and his wishes were that I should receive this one at a later time why was she allowed to do this by the bank?????
I have been very hurt by this whole affair especially knowing how my grandfather would feel knowing that in good faith he left his life's savings to his granddaughter and this is what happened. He obviously misplaced his trust in family and his financial institution. I feel some reform should be made with PODs or inform the owner of the account that other people can trample their wishes by leaving a "POD' versus 'in trust for' accounts.
NEW YORK -- My loan went into default because I got behind on things and had to pay 6,000 on a new boiler for my home. My bills for my loan never made it to my address nor did they ever call me. Instead of sending me any notices they repossessed my car. I have tried to pay what I owe them and explained the hardship that I have been going through and was informed that it didn't matter and that I would either have to refinance my loan through a different company or they were taking it to the auction. Even though they didn't know my address to send my bills they sure did know where to pick the car up. Think very carefully before you deal with this company.
ALASKA -- I have a double wide manufactured home that I have personally put 42,000 dollars into. Addition and foundation. I am within 12000 of paying this off and Wells Fargo has forced this against my wishes into foreclosure by refusing to accept payments and calling the note due. I stand to lose 100,000 on this property. And they will not allow any options. While I am faxing in paperwork they are sending this to a lawyer. They have only to seize ten properties a year and re-sell this property in order to profit 1 million dollars on the backs of honest Americans. Can you spell racketeering?
Contact the OCC online or in Texas (their main office). It might help but they do not even respond to them sometimes. Arrogant people, they do not care how they hurt people. My "American dream" is squashed and my children may not finish college now.
PHILADELPHIA, PENNSYLVANIA -- In an effort to set aside the monthly struggle of an auto payment, I made the entire payoff via Western Union Quick Collect, as instructed by Wells Fargo using the code city provided to me by Wells Fargo. Seven days later, my vehicle was towed from my driveway, car seats and all.
Sad but true, it must be my fault for using the "wrong" code city given to me by one of their ever-so-competent customer care representatives, not calling the control number in, (says that's fine, competent customer care dept) that has led to my payoff funds being "seen" but "unable to locate" to "legally post to my account" before my (paid-off) vehicle can be "legally released back to me", and of course, I will have to "go to get the vehicle myself".
Would it be another wrong of mine to suggest that if any one of my five children are injured as a result of being transported where they need to be (i.e. school etc.) because my neighbor who has to help me out doesn't have their safety seats, that I will file one major lawsuit against Wells Fargo? Their answer would probably be a resounding "yes". Unfortunately, I have received more assistance and more respect from the representatives at Western Union and the impound lot than the company in error themselves. Buyer beware!!
PLYMOUTH, PENNSYLVANIA -- And I am not biting on their bait. If you are receiving emails from Wells Fargo, Chase Bank, Ebay, First Third Bank, PayPal, or others asking for your personal financial information, this is a "phishing" email and it is a scam. Wells Fargo and these other companies are not sending these emails. And, when the proper IT security authorities at the companies are alerted, they do something about it. Chase Bank and I had a website shut down within 24 hours one time after I had contacted someone in their IT security department about a "phishing' email I had received and about the "mirror or shadow" site. If you really want to do something about this sort of thing and you have some time, when you receive these sort of emails contact their Internet fraud department such as spoof@PayPal and alert them and the companies involved will try to do something about stopping the fraudulent phishing emails.