Today I received a letter in the mail from CCO Mortgage, I thought that it was a letter welcoming us to their bank, and when our first mortgage payment would be due. Upon opening it I read "Effectinv April, 3 2008 the servicing of your mortgage has been transferred from RBS Citizens, NA (the lender) to Wells Fargo Bank NA" Your first payment will be due May1.
Please make check payable to Wells Fargo Bank.
I had to read this twice for it to sink in. The bank that we had waited 2 years to get away from for all they put us through we finally felt that we were free from them. We have waited 3 months for everything to go through with CCO Mortgage (Citizens). We expressed for months with our loan officer how happy we were to get away from Wells Fargo, we told her about how we almost lost our home to them as they were refusing payments when we fell behind. They did nothing to help us.
We had to come to closing with $4300 as Wells Fargo over appraised our home and we took a $30,000 hit on our equity with the slumping home prices.
Our loan officer KNEW that being an FHA loan that Wells Fargo primarily deals with them and she never divulged this information at all otherwise we would not have refinanced through Citizens.
I could not stop crying when I called my Husband at work and told him that we were thrown right back into the lions den less than 1 week after we closed with Citizens.
Words cannot express how hurt, depressed, upset and angry We are that this happened to us. I was looking foreward to never ever having to pay another payment to these loan sharks again and here I am, stuck once again.
My Husband and I are beside ourselves. I still can't stop crying even as I am writing this, our dream has turned back into a nightmare.
If you plan to refinance and you are going with an FHA mortgage.
Find out who your loan will be sold to. Our mortgage lender knew exactly who our loan was going to and never said a thing. I hope she enjoys her nice little comission check for selling us out. And I hope she sleeps like a baby, unlike us.:- (
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