This isn't necessarily a tale of a company ripping a consumer off, but it is a tale of apathy and disloyalty. I'm simply offering the following as advice to you should you find yourself contemplating a choice between Wells Fargo or another company for handling of your mortgage. Long winded, not very exciting story follows:
When my ex-husband and I got married, we purchased a little 55k house in the City of Pittsburgh. His job was to make sure the bills were paid every month, and mine was to make sure the mortgage was paid. Which I did religiously, never missing a payment, nor was a payment ever late.
Somewhere along the line, my ex-husband developed an aversion to working, and I thus filed for divorce. While waiting for the final divorce papers, my mother and I began to receive many threatening calls from companies after my ex-husband. Multiple court summons were being sent to the house in his name. Speaking with one company (who had my mother crying, by the way, with threats to her since my ex-husband wouldn't talk to them) the representative told me they are coming after the house'. I told him that such is not going to happen, because as part of the divorce, the house is going to become mine, not my ex-husbands. He said I had better hurry up' because they had filed against him (my ex-husband) in county court. I knew the threats of court were real, as I had seen the many summons notices sent to the house in his name.
I finally got my final divorce papers, and immediately called Wells Fargo, who had been my mortgage company for the six years that I owned the house. You see, I couldn't remove my ex-husband from the mortgage until I received the final papers. I told Wells Fargo that I wanted to remortgage in my name only, explaining the divorce.initially all seemed well, but then the Wells Fargo representative told me that it couldn't be done'. And that he was sorry, but they cannot help me because of my bad credit'. Now my credit was not the best, but it certainly wasn't bad! He wished me luck before he disconnected the call.
I then logged online and viewed a copy of my credit report. I was shocked to see my irresponsible ex-husband's handiwork among a few other things was a joint retail account had been charged off as bad debt', and there was a $10,000 loan that I had cosigned on for him that he hadn't made a payment on in over a year.
I called Wells Fargo back and argued that I was unaware of these blemishes on my credit, and that I would take care of them. But how can they deny me when I never missed a payment to them in six years? The representative agreed that I had never even had a late payment in all that time and that my payment record with them was flawless. The representative said he hoped everything worked out for me before he disconnected the call.
I scrambled and was eventually forced to sign an 11.5% mortgage with a company called HomEq. Once again, I'm not saying Wells Fargo did anything wrong companies don't have to be faithful and understanding. I'm just presenting my story for you to keep in mind should you have a choice between them and another mortgage company down the road.
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