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        New Message Board Archives >> 2007 General Board Posts >> I HATE WELLS FARGO MORTGAGE
        
(Message started by: PollyPocket on Oct 3^rd, 2007, 9:37pm)

Title: I HATE WELLS FARGO MORTGAGE
Post by PollyPocket on Oct 3^rd, 2007, 9:37pm

F YOU!!!!

Ever since our mortgage was SOLD to Wells Fucko Mortgage we've had NOTHING but problems! First payment sent in with THEIR payment stub in THEIR envelope to THEIR pre-adress and its not received. I heard NOTHING about it till a month and a half later when our account was put into collections. I got a letter from the post office showing that it wasn't our fault which I sent to Wells Fucko, and once the problem was found out, I sent the full payment to make the account current.

Ever since, I've made every payment on time, yet continue to get COLLECTIONS calls from them if the payment isn't received on the FIRST of the month (did I mention that they have a 5 day grace period???)
Tonight was no exception. Its the fuckin THIRD and the account is in FUCKIN COLLECTIONS. what does the bitch say? "do you want me to note your account that you are taking advantage of your grace period??"

Let me clarify for a moment: I have NEVER paid a late payment on ANYTHING, not one payment has been late, EVER.

Wells Fucko collected but didn't pay our home insurance payment for TWO MONTHS and we nearly had our homeowners insurance cancelled due to non-payment, but the fuckin not a very nice persons put our account in collections for the mortgage payment being TWO DAYS late? and still within the grace period????????

ARRRRGGGGGHHHHHHHHHHHHHHHHHHHHHH

added: I'm really just venting. But damn sure we'll find a different mortgage company!

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by Rosybabe on Oct 3^rd, 2007, 9:39pm

Mine was also with Wells fargo and they sold it :). Sorry you have to go through so many problems with them. :(

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by assaultme on Oct 3^rd, 2007, 10:06pm

These mortgages do get sold, my son had a similar problem.

If it is financially possible, get a new mortgage company locally.

Dave

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by rolo65 on Oct 3^rd, 2007, 10:30pm

We are with Chase and they give 15 days grace period.

Chase has never given us any problems at all.

We bank at Wells Fucko (only because there across the street from our home), they are the kings of fee chargers! ::)

It’s time to refinance while interest rates are still low before they get there mistakes on your credit report.

BW&PF times to all!

Rolo.

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by Redd on Oct 3^rd, 2007, 10:32pm

Re-finance with a reputabe Credit Union locally. Right now with the mortgage crisis from the sub-prime (read each leach lenders) there are good deals to be had for good mortgage re-fi's.

You may even end up with cash in your pocket, and lower payments.

Check it out.

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by jimmers on Oct 4^th, 2007, 7:09am

Here is how it works,

They (mortgage co.) want the money on the first of the month like mine does, however, when I don't pay on the first the phone will definitely ring on the second asking for my payment. I give them my payment (Deferred until the 15th) Why? because I get a 15 day grace with no repercussions.

Why do they want your money on the first of the month? Because their payments on the money they borrow to give to you are due on the 15th, thus allowing them to collect interest on your money for 15 days. Multiply this times probably Billions of dollars and you can see why.

They will talk their asses off trying to get me to pay right away, even go as far as asking personal questions about my finances and why I can't pay on time. I just tell them I had to buy beer or something smartass as usual.

No thanks, they get enough money from me already. F'em ;;D

Jen with a 5 day grace period, they are actually getting interest for 10 days, I'm sure the rest of them will follow suit.

Jimmers

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by cathip on Oct 4^th, 2007, 8:07am

Jen,
It's not the solution, but it is a means to an end. I call my house payment in each month. I am not comfortable with the expediency of our Postmaster, and I always get a confirmation number when I make my pymt by phone........or by p.c.. This way I KNOW they received it!
The 5-day grace period thing bugs me. I will check with a lender today, because I think 15 days is standard nationwide, and unless you have a nonconforming loan, you MUST get that grace period.......
Refinancing is another option. There are plenty of lenders who still hold their own portfolios. If you have a good interest rate, I say stick with the program. If you haven't had this loan for 3 yrs, there could be a pre-payment penalty assessed when you refinance-and, remember, refinancing will cost you money as well, appraisal, closing costs.....yes, these can all be rolled into the loan- but why?
Nonetheless, Jenn, an excellent vent......and I hope you can set this one a side. Our homes should provide peace of mind- not stress and fear!
Best of luck!
Cathi :-*

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by ClusterChuck on Oct 4^th, 2007, 9:19am

on 10/04/07 at 08:07:52, cathip wrote:

Oh SURE!!! Carry on like you know what the hell you are talking about!!! SHEESH!!!

.. .. .. .. .. Oh wait .. .. .. .. .. ..

You DO know what you're talking about ...

Nevermind ...

Chuck ::) [smiley=laugh.gif]

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by BMoneeTheMoneeMan on Oct 4^th, 2007, 11:25am

Jimmers, there are repercussions for paying on the 15th rather than the 1st. They charge you daily interest on your balance.

Its not a matter of the bank getting your money on the 5th and crediting it on the 15th to get interest on your money. Its THEIR money, they loaned it to you. If you pay on the 5th, you will stop paying interest on the principal amount of that payment.
Sure, like every other business, if they have a lot of money in checking, they transfer it to a money market account, but I guarantee you the interest in the money market is less than your mortgage rate.

Jen, tell them not to call you anymore. My mortgage company called me one time, and it's very likely that they will never call again. One time they received a payment on the 31st, but it wasnt due until the 1st.....then they called me looking for the payment. I am pretty sure they will never call again ;;D

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by midwestbeth on Oct 4^th, 2007, 11:32am

Jen,

Sorry you are going through this. I had Wells Fargo as a source of consumer financing and my expereince with them was everything except positive. Thank God we dumped them and are now using another company that I love.

Google "Wells Fargo screwed up" and you will find post after post relating the same story you are unfortunately expereincing. I'm suprised there has not been a class action lawsuit filed against them.

Good luck getting everything cleared up.

Beth

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by john_d on Oct 4^th, 2007, 11:58am

I use electric bill pay, but I am also lucky enough to have a credit union (Navy Federal) that is awesome with that kind of stuff. I get all my loans through them.

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by PollyPocket on Oct 4^th, 2007, 12:39pm

[smiley=bag.gif] After re-reading that this morning, I have to say.......man I can fuss after a hit AND having PMS! LOL Sorry y'all.

I do feel kinda bad for the rep on the phone but she bore the brunt of WF's crap. I looked again at my statement and the don't charge a late fee until the 18th of the month, but only have a 5 day "grace period". And yet, I was within that period and the account is put into their collections department??? Makes no sense at all! So if on day 1 the payment isn't received, what is that grace period for???

I did tell them to stop calling me already; first for their solicitations and then after the last time the payment wasnt rcvd by the 1st and the collections calls started. (Payment posted that night!)

My credit score based on Experian? 906!!! I don't want anyone messin with that, I worked too hard to get a good rating. The ONLY good thing about this WF situation is that they can't report it to the bureaus until its >30 days past due. So if anything derogatory shows up I will sue the hell out of them

Thanks all for the advice!

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by luveemom on Oct 4^th, 2007, 3:19pm

Hey Jen,
Sorry your pissed......your rant is a hoot.....I would be pissed off too! We have Washington Mutual, and we have a fifteen day grace period, and they never ever call us.. we never pay it on the the 15th(due date). I don't understand that either....bill says due 15th after 30th late fee.....?????????
PF wishes.....and No more phone calls from wells fucko..LOL
alicia

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by PollyPocket on Oct 4^th, 2007, 5:48pm

Alicia, that's who we originally had the loan with and they were WONDERFUL. I am going to call them and tell them we want to come back!
;;D

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by jimmers on Oct 4^th, 2007, 7:50pm

B$

They do not, the payment is never penalized and the amortization balances match perfectly.

Jimmers

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by assaultme on Oct 4^th, 2007, 7:53pm

My God Jen...a 906 is a kick ass credit rating
Dave

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by Jonny on Oct 4^th, 2007, 8:14pm

I must have all the luck....LOL ;;D

I bought this house ten years ago with a 30 year fixed at 7.58%

Its now 4.65% and it will be paid off in just over eleven years, plus I took out 30K in equity.....LOL ;;D

I guess I refinanced at the right time the two times I did.

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by purpleydog on Oct 4^th, 2007, 10:29pm

Jen, when I first bought my house, I got the mortgage from some bank in Alabama. I didn't have any problems with them, until they sold my loan. The new company sent me a new payment coupon book, along with envelopes, complete with the bar code on them. I sent in my first payment to the new bank, in their envelope, and it ended up back to me, it couldn't be delivered, even though the address was in the window.

I mailed that envelope inside a bigger envelope, I didn't even open it, I just sent it. I called to tell them what happened, and they got it before the grace period. They called me anyway, and I told them what the problem was with THEIR pre-barcoded envelopes. They said I didn't send the payment, very nasty about it. I told them to check it, my bank account had been debited already.

A few months later, interest rates went down enough for me to refinance to a shorter term, and I went through my credit union. It was a breeze. I got a 15 year loan and was paying an extra $15.00 per month. Also, my payment would change up or down by a few dollars every year, depending on the taxes, I had them escrow the taxes and insurance, until I got the loan paid down enough. After I got notified of the payment increase (an extra $4.00), I made the payment at the previous amount, I forgot the extra. They called me 5 days after the 1st to tell me, and I told them to take it out of an account. ::)

Anyway, it's been very nice using my own bank for my mortgage. It's local, they are easy to deal with, and I've never had a problem with them. I refinanced again, and when I had the house appraised for the loan, found out it had doubled in value. So, if you decide to refinance, you may have the equity there to cover the cost of the refinance. Check it out. Wells Fargo does suck. The second refinance, I did some improvements, and the furnace and A/C, I took out a loan with Wells Fargo, so I could get that done, and as soon as I had the check, I paid them off. Then I went though this bullshit of average daily balance, and they kept charing me interest for a couple months. Only a few $, then there would be interest on that, until it got down to 50 cents. Fuckers. Never again.

Good Luck, and don't let them give you any crap.

Title: Re: I HATE WELLS FARGO MORTGAGE
Post by Woobie on Oct 5^th, 2007, 12:15am

We have Chase Manhattan...
and they promised (in writing) to never sell my mortgage to another company. I like that.

I've never had any problems with them. Im glad too - cuz i dont think I can handle any more problems ....

keep yer chin up and give em HELL!

woobs :-*