I have been trying to negotiate a mortgage issued by Wells Fargo on a brand new modular home which was left unfinished and with major defects. Every government agency I contacted, DEC, EPA, Board of Health, Governor, Senators, Reps. Building Code enforcement, have all agreed that, Yes, there is a major problem, however we are not regulatory and therefore can not enforce the rules. You should contact an attorney, which I did, only to be told you have a good case, however as soon as the builder hears lawsuit he will liquidate his assets and you will get nothing. I have had to spend thousands to make the home liveable, I am a senior, still working as a nurse to survive and have tried to get Wells Fargo to take some resposibility for having appraised this house and issuing the mortgage which is at a high interest rate and high monthly payments. Wells Fargo offers a loan to bring my loan current at 5% interest over 3 years. I am behind by one month, plus all the late charges and added interest. All I originally asked for was one months deferrment, in order to catch up. Now I am in default with credit cards and behind on others. At this point "walking away from this whole deal sounds like an option" Wells Fargo has not been helpful, take no responsibility for granting the loan in the first place, although it was their appraiser, who accepted the word of corrupt public employees that a CO would be issued on this house. I really don"t know what to do and hope someone in Cyber space might have a suggestion.
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