Buyer beware!!! I am recently a new home owner since December. It has been nothing but a big headache since. Wells Fargo has been a rip off artist to me. When I signed my closing papers I was given a Maryland address of Wells Fargo. When I received correspondance, it was several different addresses, states, numbers and different information.
My house is currently listed on my credit report as in Foreclosure because of late fees that was charged interest on. On my mortgage papers that I signed at closing it never stated that I would be charged interest on my late fees. When I try to reach someone, I get a different person at a different office everytime. As a first time home buyer, I was unaware of fixed or flexible interest.
I had poor credit and was happy to get someone to approve me for the loan. I paid over $10,000.00 down and this should have put equity on my home and it didn't. They got me on the interest rate. It starts off at 10.25% than has of Dec this year - they can change my interest rate to flexible and charge a hell of a lot more money and raise that interest every 6 months. This company is a ripoff artist. They are hard to reach but quick to put your house in foreclosure when it shouldn't be.
Everytime you call someone you get a different person from a different state. I have talked to so many people and so many 1-800-#'s it isn't even funny. They also told me I could add my wife to the dead after closing when the paper work came back. When the paper work came back they told me because she was not on the loan, she couldn't be added to the deed.
I would not advise anyone to get a loan through this company ever. They had started there business in California and are no longer aloud to do business there because they are so bad with the business bureau. I went to a local government runned business to get help with the late fee and they told me that they have so many cases against Wells Fargo.
If I look in my local newspaper on Saturday or Sunday there are a lot of FORECLOSURE cases on people that have financed through Wells Fargo. If I were a consumer, I would BEWARE OF THE RIP OFF MORTGAGE COMPANY called Wells Fargo.
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