Wells Fargo Home Mortage Informative - Property Loss Claim - Mortage
MASSACHUSETTS -- My family and I had a fire in December 2006. Our mortgage was through Wells Fargo. Unfortunately the insurance money came in a check w/ the company's name on it. We forwarded it to Wells Fargo to begin rebuilding our lives and home. Then did everything we were told as far as forms and paperwork to get the funds released to us. They informed us they would release the $$ in 3 installments. 1- When initial paperwork was submitted,2- when receipts for proof of spending were submitted and 3- once house was completely rebuilt. 1- Our "paperwork" sat in their fax machine for 3 weeks and the representatives would refuse to look for it when I would call in. I was refused a supervisor, left on hold for up to 30 minutes at a time. Then wait 24 hrs for a return call( which I received without one apology). Once we finally got our 1st check we began the rebuild process. Next was receipt submittable time-which we did. I called to be sure the receipts were received and after a painful hour+ on the phone I finally got someone to see if the info was there.
It was and I was assured if there were any problems or questions I would be contacted. 10 Days went by and no check.. So I called they once again had no idea what they were doing and had not released any money because they said my receipts were not valid, and yet no one called to tell me. After speaking to people in many different departments including the executive office, we found out the problem was that the receipts sent in from the contractors and plumbers,etc did not say paid in full. Are you kidding me? I asked. How could they be paid in full if the company holding my money has only released 1/3 of the $ money we owe them.
Then it took an additional 4 days before we got anymore money. The executive rep was not very helpful either it took her days and multiple message to get any calls back. Now it is completion time and nothing has changed. We did everything we were supposed to (by the book0 and they once again are holding our money. We were told to call in for their final inspection, wait 2 days fax over completion form and within 5 days our final check will be in our hands. We had the inspection on Monday, faxed our form on Wednesday confirmed it was in on Thursday and now on the following Tuesday we will have to wait an additional 48hrs before our check is released. Keep in mind the whole time we are paying our monthly rental( because we can't live in our home), as well as our monthly mortgage payment. I can guarantee they would not wait weeks for their mortgage payment, yet they can with-hold the money to rebuild our house.
My warning to everyone looking for a mortgage-stay far away from Wells Fargo home mortgage!!!!!!!!