Rural Mortgage

[ultrarunner]

Off Topic...

A few years back there was borrower that took Wells to Court and got a judgement of several hundred dollars... maybe a thousand with costs and interest.

Wells still refused to pay and he was told they had no intention to pay... this old guy was frustrated to no end... ex military I believe.

Anyway, he takes his judgement to the Sheriff and get an asset seizure order and shows up at the Wells Fargo lobby with a flatbed tow truck and deputies...

Security refuses to let them in and finally the Deputies convince security they would be arrested for obstruction if they didn't step aside and let the Wells Fargo Stage Coach be loaded onto the flatbed...

To make a long story short... a vice president came down and paid the judgement in cash...

Every time I remember this story it gives me a glimmer of hope.

Off to Wells today to close my account... as I mentioned before, the bank was not Wells when I opened my account... it is a certificate of deposit and Wells informed me they are pleased to offer me .25% to renew.

Along with the letter was a disclosure that if I remain a Wells Customer... I agree to relinquish my right to sue them and must go through their FINRA arbitration should I have a claim...

 

[forgeblast]

Ahhh wells fargo. I went with a local company for our 20 acres, and then a week before closing they went on vacation and didnt tell anyone we were closing on our loan. After calls from my lawyer we were able to get a loan through wells fargo.
Took a lot of $ to have our little one and we took out a home equity to pay for the medical bills(we didnt/wouldnt do bankruptcy). Well I go about to refinance once the rates are dropping and wells fargo says dont worry we can do it we just need you to pay the fee and we will resign. I pay the fee, that worker is canned and it takes my states attorney general to get my cash back. no refiance. so i go to lendingtree.com. within a month we are refinanced. guess who buys our mortage wells fargo.
Cant say I love them, or like them but they are what we have. I would look for rural lenders, and when you get it apprased hopefully they take into consideration any gas royalites that you may have coming. best of luck.

 

[weldermike]

Ahhh wells fargo. I went with a local company for our 20 acres, and then a week before closing they went on vacation and didnt tell anyone we were closing on our loan. After calls from my lawyer we were able to get a loan through wells fargo.
Took a lot of $ to have our little one and we took out a home equity to pay for the medical bills(we didnt/wouldnt do bankruptcy). Well I go about to refinance once the rates are dropping and wells fargo says dont worry we can do it we just need you to pay the fee and we will resign. I pay the fee, that worker is canned and it takes my states attorney general to get my cash back. no refiance. so i go to lendingtree.com. within a month we are refinanced. guess who buys our mortage wells fargo.
Cant say I love them, or like them but they are what we have. I would look for rural lenders, and when you get it apprased hopefully they take into consideration any gas royalites that you may have coming. best of luck.

Wells fargo needed a copy of my deed from my land mortgage. "They were the people who gave me the land mortgage". So I took a day off from work to drive it out to them, furious as usual, didnt hear from them for days, reason being, THEY LOST THE DEED.

 

[ultrarunner]

Every year for several years after Wells left my standing at the alter I would receive a letter saying they need a copy of my Home Owner's Insurance or they would place one for me at 4 times the cost... I might add.

The deal is... Wells didn't fund my mortgage and I never got a penny from them... yet, somewhere in the deep annals there was a Wells Computer generating these letters to people that were not even their customers...

The last time, I wrote a letter to the Bank Commissioner or Comptroller of the Currency and said Wells Fargo is threatening me with Insurance and I have never done business with them and my home is free and clear... that was the last I heard from them.

I have to say Seller Financing has worked wonders for me... even had some Sellers disappointed when I wanted to pay off the loan...

The most recent one offered to lower from 5% to 4% if I would continue... they are a nice retired couple and I said sure.

For 7 years my check is always hand delivered on or before the First of the month to the Retirement Home where they live... several of their friends that depend on interest said they wished they could have found an nice young man like me to buy their homes... I'm not young... but far from 80 or 90... so I guess it is relative.

Again off topic...

Stopped in a Wells Fargo Branch to cash a check drawn on that branch and they wanted to charge me $5 because I didn't have a banking relationship with them...

I pulled out my Wells Fargo Credit Card and said how much of a relationship do I need?

The manager made a one time exception and told me what I need to do is open an account to avoid fees in the future... I cancelled the card.

 

[weldermike]

They made me open a checking account with a minimum of $3,0000, even tho they were the lender of my land mortgage for 5yrs. It was endless guys, like they were just makin s#!*!t up.