Wells Fargo & Company Complaint - Homeless in Minneapolis
EDEN PRAIRIE, MINNESOTA -- I am a single mother with 3 girls. I am trying to take advantage of the first time buyer program. Recently I was approved for an FHA Loan at Wells Fargo Mortgage. I made an offer on a townhome in Farmington MN that was recently accepted and a closing date was set for December 10th, 2009.
On the evening before closing, I received a phone call from my lender saying that the closing needs to be rescheduled. This ultimately lead to them telling me I am no longer approved for a loan to purchase the townhome in Farmington.
Apparently the seller knowingly listed the property as a townhome when indeed it was technically a condo. I am learning that the approval process for getting a home loan is much different for condo’s than it is for a townhome.
I am also learning that the staff at Wells Fargo had been trying to pass thru this loan paper work (with the property being listed as a townhome,) which kept on getting declined by the title company. The title company told them repeatedly that this loan will not go through as is because the property is indeed a condo.
Now I am finding out just how much advance notice Wells Fargo Mortgage had regarding this issue. If I would have known this information when they found out, rather than the evening before closing, I could have certainly come up with some fallback type of plans.
The explanation I received from the Wells Fargo branch manager was disappointing. He basically told me it was out of his hands and placed the blame everywhere else but his office.
It took me driving down to their office in Eden Prairie MN to finally get some communication from the staff. They apologized and offered to cover the appraisal fee on the next home I peruse. This compensation offer is completely insulting.
This is where the nightmare begins. The following are consequences that I am now living with due to the disservice I experienced from Wells Fargo Mortgage in Eden Prairie Mn.
- As of December 11th, my 3 girls and I are officially homeless. Luckily my realtor knew of a property that their company owns, which is currently for sale and staged for showings. We were allowed to move in on a month-to-month agreement = $1500 Deposit - $900 a month.
- I had movers scheduled (AAA Movers’) for December 10th, which I had to cancel. This resulted in a $265 cancellation fee because I wasn’t able to give notice per their very clear policies. I rescheduled the movers for the following day to move my belongings to the rental property garage. Cost = approx. $450.
- I will now have to pay the mover’s again to move us to our future home.
- The rental property is in Savage MN and 20 miles from my kid’s school. I’m still not sure how to handle this, but I will find a way.
- The rental property does not allow pets and we were forced to surrender our kitty of 8 years. She is a part of the family and we are devastated about it.
- I am forced to ask for flexibly at work while I find some stability for my kids and I.
This situation will take me months to recover from – financially and emotionally.
The disservice I received from Wells Fargo Mortgage in Eden Prairie MN is something that will continue to haunt me. As I peruse this matter, I continue to discover just how much notice they had regarding this issue. This notice could have saved me much distress.