Started out with a $38K line, fixed interest rate... About $300-$400 per month. Last year we increased the line; but only after the fact did we learn that the original $38K jumped to whopping 12% with the added additional 18K -$20K (and put into play) is costing us another $624 per month. We are now paying about $1100 per month for our $58K 2nd mortgage!!!
Our first mortgage (with Countrywide) is only $1700 with approx. $220K remaining!
We're payiing this bad loan off and will definitely think "twice" before doing business with Wells Fargo again!!!
Please BEWARE!!!
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