I am a customer and mortgage owner.
I was told if your having problems contact us and we will help? Not only was the first response "we can't help you" and then the call was over! Hows that for customer service????????
I called back again and asked to speak to a supervisor and was told by the rep, that they could help me; I guess they didn't want to pass up my call to a higher up. Then the latest person at least said maybe they could get me more info and told me about contacting Loss Mitigation. I sent in my fax info for a hardship request. I have called back over and over and been told, just call back next week. This has been going on for a month now.
The only contact I have so far is "why are you late on your mortgage payment-when will you pay it?" I sent in a check (late), so now they say whats the problem-your up to date. I tell them my income isn't able to keep up with monthly payments, they tell me "call back next week".
They won't give me the number to loss mitigation, claiming they can't give it out?
I have been told, if your having problems with your mortgage, don't wait for help. Be proactive. Now what am I suppossed to do, just not pay it and let it foreclose before I can get some help?
What kind of company are you people investing in. I mean we tax payers give out trillions to help the banks and were told they don't have to give anyone any information about where the money went?
They tell me, call your bank and don't delay; well I'm not the one delaying. I'm here and ready to negotiate a deal. Where are you Wells Fargo?
Others tell me just let the house foreclose as the value is beyond any hope of getting your money back. Banks that do work something out, are so greedy as to piggy back the debt on the end of the contract or give you a 40 year mortgage or something that won't hurt them and yet, nearly 75 percent are going into foreclosure anyway. What does that tell you. We had the sub-prime mess and now comes the Alt A's and the ARMs into the new year. I think the Bankers are in denial, not me. They just hope I will go away. But I won't. Expect to hear from me until this thing is solved. I'm reading, you think this year is bad, wait till next year. Im losing some 15 percent value on my house a month. I may never get the value back and they won't talk to me until I'm deep in the red.
I suggest the company work with me or find me talking about them and not to them. Seems this is okay with Wells Fargo. They don't know me very well........
Citi is a dead on arrival with undisclosed idiocy. it is worse off now than before Paulson's desperate
money infusion. They are burning through cash like a desperate crack whore. Atleast crack whores are not
getting taxpayer billions. Let C go
the way of the dead. To the grave yard. It is not going to be resusitated. Sorry.
I feel your pain, however, who put the gun to your head and made you take out the mortgage?
Your house value declined and you want the bank to take the hit? If your house had appreciated in value would you want to share the gain with the bank?
Thought so.....stop whining, grow a spine, and take charge of your life.
Whining on this board ain't gonna fix anything.
It's easy to talk when your not in the same position. Two, when you find out the game was rigged from the beginning, well then yes, I have a right to complain.
Especially when banks get tax payer money and then turn around and use it to buy other companies and pay share holder dividends and exec salary bonuses.
So your the one that has no clue.............
Simplified way to think:
When you dont make as much as you used to, your financial health decreases. You may lose your life savings and even your home.
When your income increases your financial health improves.
Its more simple than blaming "them".
I am going to give you some advice.
Stockpile as much CASH as you can.
Pay off your CREDIT CARDS if you can because you will need these.
Next, blow off your MORTAGE PAYMENT and put the money in this account
You can earn 4% SAFELY with FDIC protection.
You need to get RID of that abatross of a house which is losing value - DONT GIVE WELLS FARGO ONE MORE DIME - CASH IS KING IN 2009. Let them FORCLOSE - I am hearing that they cannot evict you for up to 1.5 YEARS and you will be able to STASH THE CASH. WELLS FARGO wont deal with you as long as you send them a PENNY. LET THEM FORCLOSE - I REPEAT LET THEM - This will get their attention and allow you to save $$$$ - which is PRECIOUS NOW. The US dollar is strenghtening and those with CASH will be the winners in 2009!
Just MOW the lawn and keep up the property as best you can.
GOOD LUCK - PLEASE REPLY WITH POST
elvisprty, Yes I hear that from a lot of people and it sure sounds like they are right! Still nobody is willing to take my case, just the same old BS. We will email loss mitigation and let theme know........you called?
Anything else we can do for you sir; oh, by the way we are taping this and it can be used to collect our money owed.
GOT TO LOVE WELLS FARGO.............!!!!!!!!
They are being truthful. Even though you send your mortgage payment to WFC, C, BAC, whomever, it does not mean they "own" your mortgage. I am a former employee at WFC in the mortgage division. One of my first jobs there was "packaging" the loans for securization. There is very small amount of paper that WFC has on it's books. As far as someone not telling you that, remember you are dealing with an extremely large employee base and more than likely those employees do not know or understand the process a loan goes through. That is from my experience from working there. Most people go through the drone of their work and do not know how a loan moves along the pipeline. Hell most of the population in general does not know.
Anyway, I'm beginning to ramble.
What a scam. Wells Fargo and other banks don't have to account for how they spend tax payer money and Ive got folks here calling me an conspiracy nut?
Well tell me how it works fellas. How does one steal tax money and snub their noses to the world. Sounds to me like the banks are in charge!
And arrogant as ever.......
Sam, it would be nice if instead of venom you actually included some facts if you know any? The Banks didn't steal anything...in WFC's case
They were forced to take a government loan they did NOT want. In return they pay 5% interest for a few years and then the interest starts going higher. In addition to the interest they also had to issue warrants so that if the stock goes up during this time the gov't has the right to buy shares cheap. WFC could have borrowed money for less if they wanted too but had NO option of doing this private sector. Like any other business or person when they got the loan dollars they went into the general finances and at that point you can't say this dollar came from here and this one from there, what the heck do you want anyway? It is obvious you have no clue about WFC finances so please find something you do know about and post there.
Sam, the servicer is the party that collects the payments (among other things), so if you were provided with a different address to send your payments that just means the servicing rights to your loan were sold. That doesn't necessarily mean that your loan was sold. As for why the servicer didn't tell you, I can't answer that one. I don't know what servicers are permitted to tell borrowers. Maybe someone else can help us with that one. Anyone?
If it were me, I would do all I could do before mailing the keys to the servicer and checking in to a Holiday Inn Express. It's always an option, but not the best one IMHO. Your credit rating is an asset worth protecting.
Best of luck to you, Sam.