This really is an admonition to anybody searching for a Slow Home Loan (RML) bank to consider twice before utilizing Wells Fargo bank�s mortgage providers. Our present encounter together is getting back uncomfortable thoughts of an early on encounter with Financial Independence, that was the supply of Indy Mac lender that specific in RMLs.
On November 4 I lay along using the Wells Fargo�s Reverse Home Loan (RML) broker at my house in western New York and started a brand new RML. This new RML was to refinance a RML that I'd gotten over twelve months earler through Financial Independence. Because final setbacks had created the knowledge with Financial Independence really annoying (12 months plus one evening), I particularly requested the Wells Fargo broker what I really could anticipate the elapsed-time to become due to their final time, and was happily informed that Wells Fargo had an insurance policy of final in thirty days or less.
Forty four times have passed by today (12/18), and that I haven't had the opportunity to obtain Wells Fargo to actually established a final day. I contact their local consultant, she claims she'll check up on the standing of my final and contact me back, but she often doesn't call back. While she does call-back, it's to inform me that they're understaffed and overworked (who isn�t?), which a boss will-call �later today�. She's mentioned that the paperwork is in position, but the running hasn�t been finished.
Because Christmas is just ten times apart I'm developing increasingly disappointed, and that I am anticipating Wells Fargo to make use of the holiday season being an explanation to create the final going back week of the year or even the first week of 2009.in that case, my encounter with Wells Fargo�s final may significantly exceed their guarantee of �30 times or less�, and could become just like my encounter with Indianapolis-Macintosh/Financial-Independence.
Our RML with Indianapolis-Macintosh/Financial-Independence ultimately shut on May 31, and also the FDIC required over Indy Mac significantly less than 8 weeks later in July. The broker that got my current RML software stated many times that Wells Fargo was economically sound, however the man with Indianapolis-Macintosh/Financial-Independence stated very similar point. Today I'm wondering if an excessive delay in placing a final day is just a indication that the lender is brief on financing and going to crash.
Does anybody have any inside info on this? Must I reduce my deficits with Wells Fargo and opt for another bank? If anybody knows something, please clue me in.
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