I lost my home in Florida due to the huricanes and a 200 foot sink hole. I was paid just enough to pay off the loan owed on my home and relocate my family and purchase a new home.
The loan company I had a loan with was helping me and was wonderful. They assisted every way they could with kindness and respect. I found a home in upstate New York and they ordered a appraisal for me. The appraiser showed up and the realtor told him Wells Fargo already did the appraisal and he was not needed. I was not going through Wells Fargo, but the realtor and loan officer of Wells Fargo had already set everything up through Wells Fargo without me knowing this. My closing dates were delayed. I only had 6 weeks to move out of my sink hole house as it was no longer safe and all my business was being done from Florida for my relocation to New York. The realtor told me the appraisal was done and came in higher than the asking price. I informed him that I had packed the trucks and we were moving up and would arrive with our property, the same day as the closing. To our surprise, the closing was delayed but the realtor allowed me to move in with a closing in just a day or so. I contracted the purchase to buy, Mach 13. The closing did not go through until May 11. I was charged 2 months rent over this and still did not have a copy of the appraisal which my contract to buy this property was based on the outcome of this appraisal. I was told again, it would be sent to me. I asked the lawyer about the appraisal that I did not have a copy of and about the disclosure that I did have a copy of filed out by the sellers. Seems there were some flaws that the sellers failed to mention! I was told then that if I back out, all the money I just paid would be lost, such as the 20% down payment, 1000.00 earnest money, all the closing cost I just paid and of course, I ended up having to go with Wells Fargo since my own company did not get the appraisal, inspection report or nothing and Wells Fargo of course claimed they had this already but would not send it to my loan company as requested!
I felt bullied and forced to go through with this deal by the lawyer who I was paying to represent me and of course I also paid the fees for Wells Fargo to this same lawyer who also represented them.
I was told once again that the appraisal would be sent to me. Six months after the loan closed, I still did not have the appraisal. I paid in advance, 400.00 for this apraisal. I called Wells Fargo and they sent me a Rel's report! I called again and said I need the appraisal. I need a new roof, new foundation and need a equity loan or second for repairs that the seller failed to disclose and even lied about in the disclosure. This is when I learned for the first time, that Wells Fargo did not do an appraisal. They took my money but did not do it. I complained and even learned by Wells Fargo that my property was over financed and not valued at what I paid for it and therefore I could not qualify a new loan, second or equity loan it and most of all, I was deprived of a cancelation of the purchase to buy! But the Rel's report said it is worth, 99,000.00 and I paid 69,900.00 for this house! Again, Wells Fargo loan department told me my home is not worth 49,000.00 and they do not know why Wells Fargo provided me with a loan on this property! Of course, I do not know why either but they did and I am out of my money!!!
I have looked further into this. Wells Fargo did a nice thing. They refunded me 325.00 of the 400.00 back. They kept 75.00 for the Rel's report they claimed they paid for. You know, the one that said my house is value at 99,000.00!
I contacted 3 appraisers, all certified in New York and asked what my property value would be in its conditon for 2006. I learned that at the most, 47,000.00 in top condition and low as 35,000.00. I am not rich. I am retired and my kids grew up and are on there own. I take care of my mother and grandchild. The house I purchased has value loss caused by the IBM spills in Endicott. The seller failed to dislcose this and even lied about the property not being contaminated. Now my mother, grandchild and I could end up as cancer victims caused by the toxins below us. Along with a elevated appraisal or Rel's report that is programmed and made up by Wells Fargo, this is what I have learned about Wells Fargo. They own the Rel's Company, there own insurance companies and sell securities based on fees they profit by from forced placed insurance, Rel's reports and appraisals, amoung other cost.
I am a victim of fraud, concealment, dishonest and deceptive trade practices, malpractice, conflict of interest, failure to perform, breach of contractual duty and interfearance with a contractual duty.
What will I do about this. Anyone can commence an action and anyone can win. With or without a lawyer, I will take legal action. I will also take action against the fools who have allowed Wells Fargo to get away with these criminal acts. Baltimore is just the beginning of the end to Wells Fargo. They have filed suit against Wells Fargo and they are and will be supplied with any and all information needed from every source who has a Wells Fargo loan. That is bad. So people send all you can to the City Attorney of Baltimore to make certain Wells Fargo is stopped from this abuse and conduct that is outright, sicking, immoral, with hope, these greedy abusers will rethink what they doing. If not, let them pay in big $. Baltimore City attorney is listed under Baltimore Gov.
The best is yet to happen. And it will. Every blog network is informed and more is beng said in the negatives and bad dealings by Wells Fargo. These complaints will be heard and gov will be required to act on this or they will be included in the lawsuits.
I and my family have lived in despair, sarrow, pain, sick and now we are angry. Wells Fargo has decided to call my loan. The forced placed insurance on my over apprised house by them, and the insurance was put back on my home, knowing if it burnt down, it would not be rebuilt because the land is poisen. Now Wells Fargo wants me to pay them for the insurance they own too!!! IN all, I am certain they will do all they can to foreclose to avoid giving me back one cent they took from me under a act of fraud.
Oh yes, I have help from the 18 year old that just won his lawsuit against Wells Fargo. Does that scare the pants of you yet? His case is on the net.
J
Deltona, Florida
U.S.A.
0 comments