My husband & I purchased our home from Wells Fargo, located in Texas, however the loan was out of a Wells Fargo Home Mortgage office in Ft. Mills South Carolina with our payments going to the home base at Wells Fargo Home Mortgage, Inc, out of Des Monies, IA. We thought something was funny as it took eight weeks to close on the new home while purchasing it and when we tried to turn and sell the home sometime within a year, we found out that the foundation was broken and we could not sell it. While investigating our FHA paperwork, I came upon a really unusual situation. The paperwork for our FHA loan appraisal was actually done on a conventional loan processing paper and Wells Fargo had denied it the first time the brokers tried to have it processed, as it wasn't done right, and then it was submitted again and approved the second time around. Calling on Wells Fargo they admitted that they didn't process it the first time and admitted that they did turn it down the first time. Then I called FHA for an answer, they could not give me the reasons why it would pass and that they didn't see anything wrong. After going through many, many months and three real estate firms to sell it, we decided it was in our best interest to hand the home back to Wells Fargo and we filed all the necessary paper work for a deed in lieu, approximately and timely within the first month everything was done certified, also, letting WF know of the situation and moving out immediately to hand back their home, with Wells Fargo keeping our down payment of over $15,000, plus the two years of time we paid on it. Then in the mist of the whole thing we found that the taxes on the property werent even processed correctly it was all fudged. Wells Fargo, never processed the deed in lieu and offered only the reduction of selling which we could not afford and they turned down our wanting the deed and lieu, on top of this the house sat closed up for more then eight months while they were messing things up, by saying they would get someone out there to appraise the home, however, they couldn't even get the right appraiser out there, which would be an FHA appraiserthey wanted a conventional loan appraiser out there. However, we were not able to even afford their decision of a reduction sell. Totally not allowing for the deed and lieu and all along, Wells Fargo kept us at bay by losing our paperwork and claiming that employees were walking off the job and fax machines not getting the material because of all the refinancing that was going on in the USA at the time. The end result was our credit score was destroyed, and being told by a law firm that Wells Fargo was way to big to go after. Then to make things worse, several of my credit card companies wrote and decided to lower my available amounts because of the loss and then upped my rates as high as it could go. To this very day, I have all the paperwork, faxes, dates, numbers, letters to and from that could very well, make your toes curl. This is what one would call The REAL DEAL: A REAL AMERICAN NIGHTMARE! Pebbles of MO
Remember Wells Fargo bank is not the same division as Wells Fargo Mortgage Company, they do not have the same rules and can not help cross help you in a different division.
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