I got a line of credit in 2005. The loc was for my house and lot 20. The bank added in the leagal description both lots. I was unaware of this until recently. I got in contact with the original loan officer and he got in touch with folks at wells fargo. They advised me to have my lawyer to fix the correct property decrition and order a release of lot 18, which I had sold. I lost the buyer due to this. The loan officer tony thompson told me that wells fargo admitted their mistake and issued a real estate ticket to fix the mistake. Now he tells me today, that they are not fixing the mistake. I did sign the contract but did not see the legal description. I was a real estate broker at the time and would have told him then... It was stuck in the back of my booklet. Other things are wrong with the contract.
1. The maturity date is wrong
2. There is no monthly due date, but they have assessed me with about 1,000. Of late fees. I always paid it every month.
3. My husband went to sign it and was told it's not necessary. I knew it was on a deed of trust but didn't know about a loc.
4. Legal decription is wrong. Lawyer and man at register of deeds agreed.
They agreed to fix it and now are declining. I need your help. I have been out of work for 7 months and applied for disability. The sale of the lot would help me greatly. This has greatly sressed me out for about 2 months. I lost the first buyer and I don't need to lose this buyer.
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