My husband and i took out a refinance on our mortage - that turned out to be highly predatory! We tried to refinance and found out (not known to us at first) that the appraisal we got was 30,000 dollars too high!!! So it was falseified to get us the mortage.
The mortage rate jumped from 6.6 to 9.5 at one time, our 733 dollar a month payment jumped to 1250 a month! And will continue to climb,
Let me tell you. Working with these people is impossible, we are doing everything in our power to save our home and arent getting very far - we were lied to, cheated and stolen from - now we could lose our home. They say they are willing to work something out then relay the only thing they can do is take a full payment of everything we were behind. That isnt working anything out.
My husband is disabled and i am the breadwinner - we are very low income and now our credit isnt worth a darn thanks to the predatory loan - we cannot refinance and have tried everything - We even have tried to work out different terms with wells fargo who told us we dont have enough income to afford the loan! Hello??? No kidding? Our income was the same when we took it out and now due to their rising rates and predatory lending techniques we can no longer afford our own home? Im confused!
Dont deal with wells fargo, theyre only concern is to rip you off then steal your home - leaving you with nothing to show but a bad credit report
Forgive me if im ranting, but this is happening all over the country right now. Acorn was running a major campaign against wells fargo mortage which they have since stopped - the predatory lending by Wells fargo however, has not stopped and if someone doesnt step in to help people like us it never will.
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