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Wells Fargo is AWFUL!!!

This page is closed for comments. If you want to comment about your Wells Fargo experiences please follow this link. Do I still think Wells Fargo sucks? Yes, more than ever. Especially given some of the responses from people claiming to work for them here. But that said, I’m tired of being reminded of this episode. Please take your comments here and hopefully something will come of them.

Wells Fargo Bank: In my opinion they must be the Single WORST BANK IN THE WORLD!!!!

Please please please if you are using Wells Fargo.  Please switch banks.  Do not reward this bank with your patronage.  You’re only helping an evil empire.  Please get out now.

I’ve been with Wells Fargo bank for 9 years now and I can safely say that nobody in their right mind would bank with them.  They are an atrocious bank.  Completely and utterly incompetent.  I don’t understand how they’ve gotten to the position they are in being this bad.  It seems nearly impossible to contemplate.

The following is not the only thing that has happened to me but it is the most recent and so the most clear in my mind.


In August 2000 I decide I’m going to move back to Japan.  Knowing how complicated it is to get money to a Japan (as I’ve lived here before) I call Wells Fargo 24hr hotline and ask them about setting something up for transferring money to Japan.

They say the (1) I can setup something called an "International Re-occurring Wire Transfer" but that (2) they have no idea how to set that up as they, at the hotline center, do not have those forms and so I need to go into a branch.  Not only that but I HAVE TO DO IT AT A BRANCH.  I can not be sent the forms instead and just do it through mail.

So, a couple of weeks later I go into the Brentwood branch (closest to my apartment at the time) and get the forms.  The guy at the bank gives me 3 forms. I take them home and attempt to fill them out but of course there are many banking terms I am unfamiliar with like ABA/routing number etc so I end up going into a branch and asking.  I’m told I need the branch name, address, account number and routing number / ABA number.

So I go home and call the bank in Japan and ask for that info (actually, I ask a Japanese friend to do it for me).  She says they say they don’t know anything about ABA numbers or routing numbers

So I go back to the branch and I ask and then BEG for an example of a Japanese ABA/routing number so that when I call my bank in Japan I can explain what I’m looking for.  For example if I told you I need a number that looked like this 542-124-6541 you’d probably know just by looking at it that it’s a phone number.  51235 is a zip code as is 65343-1236.  512-12-4552 is a SS# and 6431 1234 6423 9632 is a credit card #.  The bank is absolutely no help.  The claim they do transfers to Japan often but that they will not even tell me the number of digits as in XXX-XXX-XXX.  I do find out one useful piece of information.  They claim I don’t really need this number.  It just might take a few extra days without it.

So I go back home and ask another Japanese friend to call the bank in Japan.  I get the same answer, there is no ABA/routing #.  Of course like an idiot I believe Wells Fargo Bank instead of my friend and assume that I didn’t know how to communicate what I meant to her so she could explain it to the bank in Japan.

So, okay, I decide if they they don’t really need this number I’ll just fill out the forms without it.  So what if it takes an extra few days.  So, I go to the Santa Monica branch since I’m familiar with it.  It was the closest bank to my old job.  I get in line for the tellers and I ask for help with these forms for "Re-occurring international wire transfers" The teller has no clue and after fumbling around for a couple of minutes gets somebody with more experience.  That person fumbles around some more, calls somebody and finally hands me 4 forms (2 of which are different than the 3 forms I already have) and she hands me a small note with a phone number and says here are all the forms, and here’s the number to call if you have any question.

So, I sit down in the lobby to fill out the forms.  I call the number.  It’s the 24hr hotline number.  I get the same answer I got before.  The hotline people have no clue about those forms.  They don’t even have copies they could look at if they wanted to.  So now I’m getting pissed off.  As I’m on my cell phone and I’m in the lobby of the bank I grab the nearest bank person, and hand them the cell phone and tell them to sort it out.  Who the F*CK is supposed to deal with this because the branch just told me to call this number and the people at this number are telling me to talk to the branch.

The guy I gave the phone to tells that guy on the phone that he’s a branch manager, he knows what to do and he’ll take care of it. 

So I wait in the lobby for over an hour while he deals with the 3 people that were in front of me.  Finally it’s my turn.  I sit down at his desk.  He hands me 3 bank forms, one of which is different still then the 7 forms I’ve already been handed.  He also pulls out somebody else’s forms and says copy these forms and just change parts that you need to change.  I do that.  He double checks it, says every thing is great and gives me a new number to call which he says is the number I’ll call when I need to make a transfer.  I thank him and leave

So, 3 weeks later I’m in Japan and I need money ASAP.  You are only allowed to take $10000 out of the U.S.  More than that and it is considered that you are doing something fishy.  Renting an apartment in Japan generally costs 6 months rent.  First month’s rent, 2 months deposit, 2 months key money, 1 month realtor fee.  For a $1200 apartment that’s $7200.00 + more for things like manager’s fee, insurance etc.  I brought $9800 with me to Japan but of course I had things I needed to pay for and so I’m down to $7000.00   So, I call that number.  I’m told that they have no paperwork to speak of about me.  WHAT!!!!!!!  They double-check but no, they have no paperwork and they say I should go into a branch and fill out new forms.  Of course I explain to them that I’m in Japan now.  I can’t just pop over to a branch.  Well, they end up giving me the number for the Santa Monica branch.

I call.  I don’t know the branch manager’s name but I do know what he looked like and where he sits.  They figure out who it is but he’s out until Monday (it’s Thursday).

So I call back Monday.  He remembers me and says he’ll check into it and call me back.  I explain I’m in Japan and it’s 4am. He says to call him back tomorrow morning and he’ll have it all figured out.

I call back the next morning, he’s in a meeting.  He doesn’t get out until 10am (that’s 2am here in Japan).  Note that these calls aren’t cheap.  I’m living in a motel trying to rent an apartment.

He says he doesn’t know what happened.  He sent in the forms and he has no idea where they went.  The best he can do is send me new forms.  Of course that will take a week or 2 and then more time to send them back.   I don’t know what else to do so I say okay, hoping that even if I figure out a way around this it will at least be fixed in the future.  Note that as I write this (2 months later) those forms HAVE STILL NOT SHOWN UP!!!!!


That’s not the end of it.  First a more minor one.

In order to get a student visa (a visa is permission from Japan to live in Japan for a specific purpose), I need certain things.  One thing I need which wasn’t clear before I came here is I need a "balance statement signed by a bank manager" showing that I have enough money to live in Japan without a real job for as long as I plan to be here.

I call Wells Fargo and ask for one.  It took a while to get them to do it but eventually I got a supervisor on the 24hr hotline to claim she can take care of it.  10 days later it has not shown up and I’m quickly running out of time.  There’s a deadline to apply for a student visa.&n
bsp; Miss it and you have to wait another 3 months to get one.

So I call again and explain what I need.  They tell me that they, the 24hr hotline people, can’t do it but that I can call some special department that can handle it.  I call that department.  They are closed.  I call the next day when they are open and am told by that department that they have nothing to do with what I need.  Their department deals with businesses.  They tell me to call the 24hr hotline again and ask for something specific.  I’ve since forgotten the term but they claim if I say that term, something like "official account history" or something like that they’ll get it right this time.

So I call the 24hr hotline again.  I use that term.  They don’t get it.  After more run around I get a supervisor again and finally she gets it and after much begging she sends the correct forms. Thank goodness.


More:

So the next problem,  Wells Fargo decides to change my routing number in mid November.  I don’t think about it much until early December.  I’m told by my accountant that I need to pay a certain amount of money in taxes before December 31st or I’ll be fined $8000.00 in late fees.  Yes, that’s 8 grand.  Pretty important that I get that money in.

So, I’m about to send in a 540ES and a 1040ES until I think, "hey wait a minute, if they changed my routing number that means that the checks I have are no good anymore."  I call the 24hr hotline to verify that and I’m correct.  WELLS FARGO HAS ARBITRARILY INVALIDATED ALL MY CHECKS!!!  What the F*CK is wrong with them!!!  You’d think that common sense would suggest that if you are going to invalidate somebody’s checks you’d have to issue them new ones BEFORE you invalidate their old ones.  It almost seems like there might even be a law against this.  Anybody using checks on a regular basis could be really screwed!!!

I ask them about new checks and of course they take a couple of weeks and getting them to Japan is another story all together.  I ask about emergency checks and they say "Oh, just pop down to a local branch and…"  I’m in JAPAN!!!!!   So, the best they can do is put a rush order on the checks.   My account is currently registered to my sister’s address and the guy on the phone says the checks will be there within 5 business days.  I have him read my address.  It’s WRONG!!!  Even though I called Wells Fargo and updated my address with them, which can be verified since the statements have been being delivered to my sister, they didn’t update it here.  Fortunately I asked him to check it and he claims to have fixed it just before he put in the order.   This is Dec 12th.

Dec 22nd comes around and my sister has not received any checks yet.  So I call the 24 hour hotline again.  After digging around for a while I’m told the checks are at the Newport Beach branch and nobody can explain to me why they went there.  My sister lives an hour away (when there’s no traffic) from Newport Beach.  They give me the phone number to the branch.  I call the branch and the lady there offers to send them to my sister.  Of course at this point I don’t trust Wells Fargo to be able to do anything correctly so I ask if I can have a friend that’s close by come pick them up.  She says that would be okay and asks for my friend’s name.   I ask my friend John who works 2 minutes from there to go get the checks.  He got’em.  Thank goodness.  UUUUGGGHHHH!!!!!


It’s not over.

So now I’m running out of money again here in Japan and it’s time to transfer more money.  Before I left for Japan I looked into opening an account at Citibank because Citibank has a special department, Citibank PBOE (Personal Banking for Overseas Employees)  That can and does regularly handle transferring money to foreign accounts for people like me.  The only bad thing about those accounts (so far) is that they cost $22 a month.  ($15 if you keep a $5K balance)  Of course Wells Fargo said I could set up the same thing with them but we see how well they did that.  But, incase I wanted to switch to Citibank I asked Wells Fargo before I left for Japan about domestic transfers and was told no problem as long as the same name is on both accounts.

So, now it’s 12/30 and I want to get some more money over here.  I’ll probably need it by the end of January.  I call Wells Fargo 24hr again thinking everything is going to be fine.  Especially since I’ve had no problems transferring money from E-Trade Broker AND E-Trade Bank over the phone and because Wells Fargo told me it would be fine.  NOPE!!!  Wells Fargo will not do wire transfers over the phone period.  You have to go into a branch!!!!  The only kind of transfer Wells Fargo will do is from one Wells Fargo account to another!!!  UUUUGGGGHHHHH!!!!!

Half an hour on the phone trying to get Wells Fargo to take some responsibility for these problems and deal with it but they won’t budge.


I really don’t get how they stay in business.  I’m not a lawyer but it seems to me that I should be able to hold them liable for both the costs getting money here because they lost my "Re-occurring International Wire Transfer" forms.  THEY LOST THEM.  THEIR MISTAKE.  THERE RESPONSIBILITY.  Also the whole check issue.  Randomly invalidating all my checks.  THEIR ACTION.  THEIR RESPONSIBILITY.   If I do miss the deadline for my taxes (we’ll see, it’s Dec 30th and no record of the checks having been cashed.)  If I do get penalized I will talk to lawyers about recovering the penalty from Wells Fargo.

On top of that they charge me $20.50 a month!!!!  They charge me $10.50 a month just to have my account.  $2 a month to return my checks.  $3 a month called a "Quicken Online Monthly Charge" and $5 a month called "Quicken Bill Payment"

If I’m paying to have my checks returned and I’m paying for online bill payment, what’s the $10.50 a month for? What service do I get for that.  Clearly they have not provided me with any service.  I wonder if there’s any legal issues there? I.e., service paid for but service NOT received.

Note: this is far from the first time I’ve had problems with them.  The reason I’ve kept with them is mostly because it’s a pain in the butt for me to switch banks.  I use electronic payment though the internet using Quicken (as I have been for 9 years now) and switching banks would mean going without that for a month possibly as well as ATM card issues etc.  This is it though.  I’m switching.  I can’t deal with it anymore.  They are more then useless and they are actually causing REAL problems for me.  Problems that cost ME money and time to fix.  Problems that force me to involve and inconvenience family and friends to get fixed.

I remember about 7 years ago being pissed off enough to want to switch.  That wasn’t the only time either. I actually stormed out of a branch and spent the rest of the day interviewing banks.  At the time the best bank appeared to be Fidelity Federal.  It’s was a smaller bank though and with few branches and a month after that episode I moved to the San Francisco area and so I didn’t end up switching at that time.

Now I just can’t take it anymore.  Anybody know a bank that works?  Although I’ll be using the Citibank PBOE for transfers and stuff they don’t have all the features I want and they are expensive so I’m still looking for another bank for my main bank.

U U U U U U G G G G G G G G H H H H H H H H H H ! ! ! ! !

Please please please if you are using Wells Fargo.  Please switch banks.  Do not reward this bank with your patronage
.  You’re only helping an evil empire.  Please get out now.

This page is closed for comments. If you want to comment about your Wells Fargo experiences please follow this link.

  • pissedoff
    Pissed off

    I agree, my home Wells Fargo branch is good no probelms, but the Florin Rd branch in Sacramento has a B#*ch Branch Manager and same as a supervisors.  I hope they get what they deserve sometime soon.  Pure evil people.

  • anonymousBehindInPayments

    Wells Fargo Really Does Suck.  At Everything They Do!  Rules on top of more rules.  Rules they makeup as they go along to cause confusion, and distress to the customer.  They will fail one day, when enough people get sick of them. 

    And the people that are bragging them up, and saying it’s all your fault, and your just stupid with your money.  They work there, or they have family, or relatives that work there. Or their internet trolls trying to stir people up.  No one else is that stupid, hateful, or evil to say it’s not Wells Fargo thats causing all of these same extortion problems.

    So Why Not write letters to Obama.  He just gave them 25 Billion Dollars.  And send copies to the state banking commission.  And the OCC in Washington D.C. (Office Of The Comptroller Of Currency), their supposed to be in charge of all the banks in the USA.

    Who knows, it might trigger an investigation.  They finally took down Providian.  There was a company rotten to the core!

    And check ot any business before you use them at:

    http://www.ripoffreport.com/

    You might be amazed at who’s listed there.

  • cal426
    Wellsfargo

     

    Let it be “Well….Far…Gone”

  • Rai
    Most sucking bank in entire world

    all this financial thug bank cares about is its money regardless if other person is dying or will have to come on the street. I wish this bank is washed in gutter one day

  • APissedOffTexasRealEstateAgent
    Short Sales With Wells Fargo

    I agree with you… Why would anyone in there right mind bank with Wells Fargo. I have been attempting a Short Sale with them for weeks now and can’t get to the right department. They are a large bank but you think someone would have a directory they could refer to. This isn’t the first time I have delt with WF on a short sale. The last one took over 9 months and the home buyer went to the local bank and threated the manager for names and phone numbers. So don’t do any business with Wells Fargo.

  • luckybug
    WF is magic, they make your deposits disappear.

    I have been with Wells Fargo for a little over a year. I had previously been with Key Bank, but switched after Key allowed someone to fraudulently withdraw money from my account (the security tapes revealed that the teller didn’t even ask for ID, for crying out loud). Unfortunately, Wells Fargo has not been much better. I opened a checking and savings account at the same time. Being a dirt poor student, I was told that there were no fees or minimum balances for either of these accounts. Well, that was partially true. There were no fees for the first 90 days. Then there was a $10 fee for the savings, and a $15 for the checking. I went into the bank and tried to be rational and calm, but ended up pitching a fit. That was actually a good thing to do, because they didn’t want me to make a public scene and they made sure that I didn’t have any fees to pay after that.

    But the big, big, BIG problem I have with them is with my deposits disappearing. Over the course of the last year, they have lost 5 of my deposits. These were all rather substantial cash deposits, made in person, that came with receipts. After making these deposits, I would immediately check my accounts online (because I’m paranoid after dealing with the Key Bank fraud) and the deposits would be there. They would clear the next day because they were cash and I didn’t have to wait for any checks to be verified. Then they would just disappear. Poof. Gone. No trace of them. I would end up calling the 800 customer service number, get jerked around, and eventually file a “missing funds request” or something like that, only to have them tell me that it would take 5 business days to track down my money. On 4 of those occasions, I would end up calling on the 6th business day because I hadn’t heard back from them. They would give me more b.s. until I ended up pitching a fit (again) on the phone. At that point, they would let me talk to a manager or supervisor, and the problem would get fixed after a lot of complaining.

    And now here I sit, in the middle of Missing Deposit Incident #5, waiting over the weekend for Monday to come so they can start looking for my miraculously evaporating money. I’ve never even overdrawn my account by so much as a single cent, yet I get treated like absolute crap by these people. As soon as I get my money back and all of my transactions are cleared, I am closing my accounts and telling Wells Fargo to suck it. I’ve learned my lesson. Big banks are a waste of time. Credit union, here I come.

  • SovannaDunlop
    Wow, I wish someone had to us earlier!

    We just recently moved to Alaska and needed a new bank, one where I can go in and deposit money just in case it looks like we’re about to over draw (it’s makes me feel better to know that the cash is in there) and also I rather not have a $25.00 overdraft fee! Well, I go ahead and take a check that is due on the 8th of sept. or write a check and mailed it in on the 31th of August and somehow my check had magically appeared with Wells Fargo on the 31th and they charge me 2 $25.00 OD fees!!! Not only that I had also post-dated late at night before dropping it off on August 31th for September 1th because since I dropped the check off at around 5/6pm at night the check will get to the Co. on the 1st the next day. And the CS rep name Angela yells at me, YES YELLS AT ME, telling me that it was illegal for me to post date the check. Of course I tell her that i use to work at a bank so don’t threaten me with BS because you think I don’t know the ins- and outs of banking. and of course i look up all the info about it from websites, my knowledge of banks and even wells fargo’s little stack of bull crap and no it’s fine. It might be illegal if i sent the check in knowing that I don’t know money in the bank, But it had money in the bank on the 1st that’s why i didn’t send it out until late night august 31th!!!! SO THANK YOU FOR NOTHING BUT YOUR SH*T ANGELA FROM WELLS FARGO CSR!!!!

    Oh and before that, my husband is in the military. 1 week before he deploys to Afghanistan he misplaced his card, so we cancelled and requested a new one, called customer service up tell them our situation (AND REMEMBER THIS IS SUPPOSE TO BE MILITARY FRIENDLY BANKING, KEY WORDS BEING SUPPOSE TO BE) and they tell us it’ll take 3 days if we went into the branch. So we went into the branch, the tell us they can’t do it, it’ll take a week and we’re like, “he’s going to left on Monday!” and we had spoken to someone on the phone and they said it would take three days. So we order it anyways, go home and I call the bank again, they say “oh yah three days” I called the military side and for some odd reason they are closed!!!! so i talk to the normal side of the banking not for military, cs and sup tell me it takes a week, we explain to them again that he is deploying, it’s not like me sending him a card if he had went to Hawaii, it takes at least a month if i was to send him the card. All in all I spoke to 4 to 5 cs not including sup.s and they tell me two different stories: it takes 3 days, it takes 1 week. So by now it’s Friday night and I call a another military banker and she says….sit in a chair guys, “oooh yah we do send out cards for emergency purposes like this, it does only take three days!” I mean seriously?!?!? I’ve been with you guys barely 2 weeks and I’m already about to punch their people in the faces!!!! So regardless to say, we are looking at a new bank as SOOOOON as he gets back! By the by Wells Fargo, thanks for stressing out a new to be mom even more! Horrible!!!!!!!!

  • jk
    WFB indeed worst bank in the US.

    Being a military member for over 28 years, I have lived in multiple locations. Having banked with many banks. I can tell you my experiences with WFB have been the worst! My wife at first experienced many horrifying stories with them and then a few months later I also had the misfortune to experience some of their poor customer service for myself.

    I talked with a personal banker and expressed my complaint I had and they really could care less. No apology, Earlier this month, I was surprised another former military friend of mine who does surveys for WFB told me he hates them. Of course he hears the horror stories I am sure first hand but I was surprised to hear him talk so poorly of them as well.

    The only reason we have stayed with them is because of the hassle of changing banks and Bill pay accounts, direct deposits, etc…

    We are going to look into moving our business elsewhere and would encourage others to do the same.

  • Mark
    Heard That!!

    I typed the words into Google “I hate wells fargo” and this was #1 on the list. I had to read it. Took me a little while but I even read most comments and have to totally agree that WFB cares nothing about the people who bank there and only cares about taking their money. I

    I have been with them for about 10 years and never asked for any type of credit or adjustment until about 30 minutes ago when I saw that my bank acct was overdrawn $210. For some reason the online banking website didn’t update accuratly and I continued to spend! Out of the overdrawn $210, $179 of that was overdraft fees!!!!!

    U think they cared?? LOL………Noones responed to this site in years but I hope the next time I check it someone replied to this comment.

    Little things mean a lot when it takes you a month to catch up after a hit like that!!! FWFB!!!!

  • missjrcfer
    Wells Fargo and “Making Home Affordable Modification Loan”…..

    I have been trying for the last 5 months to get my sick father a modification loan. He has lived in his home for 15 years and raised three children there, alone. He has always worked hard to stay on top of his mortgage payments. Well, five years ago he had a heart attack at the age of 49, due to diabetes. He was unable to work due to everything that came along with this, including blindness. Wells Fargo would not work with him at all. He was having to choose between making mortgage payments and buying his medications. In turn he lost the functions of his kidneys. We tried everything to get him help. When he was finally granted SSI benefits he only received about a 1000 dollars a month, mortgage was 1100. Needless to say he fell behind on payments. His car was repossessed so that he could keep his home. Along with help from his children. We struggled for years. Then Obama comes to office……We find something called “Making Home Affordable Modification Loan” If he qualified his payments would be cut in half and all that he was behind would be tact to the back of his loan. This would save his home. So since April 29th of this year I have been calling almost everyday to check on status and faxing papers over and over and over……Making sure to always be on top of what ever they might need. The hardship letter alone should have gotten him this modification. Today I called to check on the status since this was supposed to be finalized in 3 months. I was getting upset. I was informed by “Jenny” at 12:48 pm that he does not qualify. And foreclosure processes will begin if he doesn’t come up to date with his mortgage. In the five months that I have been working on this process he made three 500.00 payments. So that will be applied to the 6 months that he is behind. There is no way for him to get caught up, they are going to put my father who is trying to keep his head up about a kidney transplant and just having triple bypass on june 2nd out on the streets…I hate them so much. It is all just a run around SCAM to get the little 500 dollar payments before they foreclose. That 1500 dollars could get him into an apartment or a house to rent. Instead he is broke and it is because of Wells Fargo….How am I supposed to tell him that he is going to lose his house. It is all that he has left. What can I do? Where will he live? Maybe he can live in one of those new banks that Wells Fargo bought with our 25 billion dollars….

  • DSArnold
    I am still gladd that You are doing this.

    I do not know how many times that I have been asked to open other accounts.  I have three hundred bucks in Hells fargo.  They would have well over one hundred thousand,  but they are worthles.  I have it in so that I can cash checks around the USA  They keep doing stuff that ZI do not do, They stilll give Me My money.

    I am not sure that I will get My 3 hundred back.

  • Japan
    you are a moron

    First of all I’m pretty sure everyone using wells fargo isn’t moving back to Japan and doesn’t need the international wire transfer. And not knowing what the routing number is… you sound like the incompetent one. They just don’t up and changer your routing number either.. your article NOT WORTH READING…

  • Michael
    Wellsfargo really suck, they lied to me over and over and won’t do anything about it

    Wellsfargo bank has bad reputation, they lied to me again and again. I am so sick of them.  Also, Bank of America stink, they are abusive when it comes to over charging Overdraft fees and they go as far as committing unethic acts which I won’t disclose here.  basically, these banks are evil, robbing your money.

  • http://dsarnold5@juno.com DSArnold
    Wells Fargo just doing good for You

    Wells fargo is just making sure they do a good job for You by treating You like crap.  you sholuld get over it.

    I can’t get over it, but maybe You can.

  • christyk
    wells fargo basically steals

       I can’t believe they are allowed to practice the sort of self serving crap they dish out.  I had 10 debits post 48 hours earlier and then one larger debit -again 2 days later. Wells Fargo went back and charged NSF fees for the 10 earlier debits -which were fine- and put thru the last item(made 2 days later). This is their “practice” so they can charge $350.00 in NSF fees instead of one lowly $35.00 fee!   I call and email-they won’t help-this is their “POLICY”. How can this be legal??? They should post in the order they receive-but then they wouldn’t make any money off their customers-we’re talking a $350.00 difference!  So basically the customer is screwed. A bank doesn’t even feel the $350.00-the customer is in big trouble figuring out how to make ends meet w/ a $350.00 unexpected bill. These are difficult times and it would be nice if banks took that into account and practiced fair policies.

    Outrageous!

     

  • SL

    I have had a mortgage with Wells Fargo for 9 years.  Upon the sudden departure of my ex-husband over one year ago,  I assumed full finanacial responsibility of the mortgage.  Upon attempt to legally assume the mortgage in my name and exsume him of all financial responsibility of it (which he in fact never paid to begin with because I made more money), they denied my the assumption because he wrecked my credit in other ways.  Now mind you, 1/2 of my mortgage payment was automatically withdrawn from my account every two weeks to the day and I have been paid up 1 month in advance for quite some time but they still refused to remove him from the mortgage and approve me to assume it in my name alone.  I spoke with a Rachell Richman out of the Wells Fargo Demonis Iowa brance the day after I received my denial.  Rachell stated that she went through the same situation with her ex and that she was going to put a “Human Face” to my account, take it to the President of Wells Fargo and ask that the assumption denial be overturned.  I waited two days to hear back from her.  I finally called her 3 times in 1 day before I was able to speak with her.  She had a totally different tone to her voice,  stated, “I’m sorry but I don’t even know the president of Wells Fargo, he works out of San Fransisco”.  A TOTAL lie from what she stated two days prior.  She pulled on my heart strings, finally I thought, someone who can relate to my tragedy and possibly offer some assistance.  Boy was I wrong.  I am an individual who continued to give them my money and they continued to accept it until I asked that the terms of my mortgage be revised and the company would rather not have my money and an upstanding consumer.  I immediatley cancelled my automatic withdrawl and they will no longer receive any of my money.  I would not recommend Wells Fargo to my worst enemy. 

  • Rudolph
    Beware the latest scam…CHECK 21

    I don’t know if this has been posted, but, checks are now handled between banks ELECTRONICALLY. If you write a person a check say on the first, and that person takes the check to the their bank, on the first, their bank can send an electronic image to Wells Fargo. Wells Fargo will accept this electronic image as the actual check, and DEBIT YOUR ACCOUNT on the very same day, the first. Unreal, huh? It’s true, just happened to me. Wrote a check on the 6th, put money in the bank on the 7th, knowng the check receiver had a different bank. Had some little credit transactions pending from 4 days before. First thing, on the 7th, my deposit is shown as pending, but, there is the check, posted on the 6th. Wrote an email to WF, here is their response:

    Dear ME:

    Check 21 allows “substitute checks” to be the legal equivalent of original checks. A substitute check is a paper reproduction created from an electronic image of an original paper check. A substitute check may be presented by the bank where the check is deposited (depository bank) in lieu of sending the original check to the bank where the check was drawn (paying bank).

    The objectives of Check 21 are to:

    * Increase the efficiency of check clearing in the U.S.
    * Lower check processing costs
    * Reduce the vulnerability of the national check processing system to disruptions in air/ground transportation

    Although the overdraft fees were correctly applied, we value your business and in this case I have reimbursed your account for $70.00, which is a portion of the fees assessed. You will see this adjustment on your account within 2 business days. (my edit: a check clears instantly, my credit takes two days?)

    Wells Fargo offers several overdraft protection plans that help you avoid the inconvenience and expense of overdrafts and returned items.

    Please follow the instructions below to establish overdraft protection on your Wells Fargo account:

    - Select the “Account Services” tab above
    - Click the “Request Overdraft Protection” link under the Account Services heading
    - Select the checking account you would like to set up for Overdraft Protection
    - Complete the online form

    Thank you for banking with Wells Fargo.

    Sincerely,
    Sean Hicks
    Wells Fargo Online Customer Service

    Wells Fargo is dedicated to protecting your information. To learn about our security measures and what we do to protect your accounts online, go to wellsfargo.com/privacy_security/fraud/

    If you have another question about this subject, please click the Reply button at the bottom of the page. To ask a new question, click the Contact Us link at the top of the page.

    I never heard of this law, or this method, until today. Looks like Wells Fargo is going after “floating” checks.

     

  • http://g anonymogus
    USE TO WORK FOR WELLS FOR FIVE YEARS

    I have worked for Wells Fargo for 5 years, and during that time, I have witnessed first hand how awful the upper management are to the small workers of the company. The turnover rate is crazy , and it is because of the pressure the company puts on you to get sales. You heard me, tellers, bankers, service managers and branch managers are all reviewed by their sales numbers. They insist that every customer has a need for an additional product, and that you are not giving your true customer service level unless you practically push these products on the customers. I have never spoken to any Wells Fargo employee that liked their job. They either leave after so much pressure and threats that they will get written up if they don’t meet their numbers, or they crack under pressure and open a product for a customer that really didn’t want it , and Wells Fargo fires them. They dont care about the smaller customers of the bank, the ones with the low balances in their accounts. What is sad about Wells Fargo is that they are likely to reverse a fee for someone who is a high value customer (large balances) but if a single mother with three kids walks into a branch and got charged overdraft fees, they will turn her way, because it was not a bank error. I really feel that there is a lot of evil and unmoral actions going on within the industry and it really saddens me that Wells Fargo could really be helping people right now, but they are not, and they are surely not helping their employees.

  • skabels
    Wells Fargo has screwed me so many times, and not in a good way.

    I enjoy an occasional screw, but not by someone other than my boyfriend. I have several accounts with WFB (mortgage, checking, student loan, credit card), and they are all impossible!! It all started with the dreaded overdrafts, which pile up so fast and the fees associated with them make it impossible for the average girl to dig out from that. $500 in fees later, and my credit is shot because I’ve had to neglect all of my other bills to get my account into a positive balance. All of this because of their system of “reordering” debits from largest to smallest, not debiting them chronologically (and yes, WFB has had 2 class action lawsuits brought against them for this practice). And, of course, they can do nothing to reduce or eliminate the fees so that I have a fighting chance of repaying what I owe. So, when I call the other departments to set up payment plans for my already late payments and all the fees associated with that, they tell me “You have too much debt and not enough income.” Thank you, Captain Obvious. That is why I called – to try to be responsible and take charge of the problem. And best of all, now that my credit rating is so screwed up, my insurance and interest rates are sky high, and my Direct Deposit Advance limit has been reduced. So I’m broke, and being expected to pay even higher bills. Smart move.

  • Ted
    Wells Fargo The Absolute Worse!!!!!!

    Late Fee: ($218 and I always pay on time)

    Phone payment chargers: $24 a month try to pay online you will be confused.

    This Bank will kill your finance growth. with fees and late charges  DO NOT TAKE THIER LOANS

  • jerryBurt
    Wells Fargo bank committing domestic economic terrorism

    I can truly say that Wells Fargo IS EVIL. After banking with them for 10 years and after spending half a million dollars through their Master Card, they have decided to raise the APR on the majority of their accounts.WHY? because they want to raise everyone’s rates before the new Govt. restrictions take place. So, despite the fact that I have paid off my balance in full every month for the past 3 years…. They see fit to raise my rates.

    Banks no longer are safe harbors for money, they are in fact ruining America. As far as I’m concerned Wells Fargo usurious tactics are attempts to keep people in constant debt. As more and more people will only be able to pay their monthly fees, you will see less money going to retail, food, gas, etc, more unemployment, more foreclosures, more broken families. in good conscience I cannot and will not support any organization that treats people with such little regard. I am withdrawing ALL my money from Wells Fargo and encourage friends to do the same.

  • anonymousBITCH
    wow

    sorry to hear your pain and the problems you’ve had with Wells Fargo Bank. After reading the story it tells me that you’re the incompetent when your about to set up a wire and don’t know you need the bank information. wow. Hope you find a better bank to do bussniess ASAP so we don’t have to deal with people like you. I wish i know your account number so I personaly could have closed your account.

  • KAYDEE
    WELLS FARGO SIMPLY SUCKS!

    When I moved from one state (where I had NO probs) to NEVADA…GRAND LARCEY was COMMITTED BY MAYFLOWER VAN LINES. Investment manager in CA recommended WELLS FARGO…and I followed his LEAD! i have been HIT with check charges (account numbers incorrect) but the BANK ASSIGNED those numbers. My CREDIT HISTORY has been DAMAGED HORRIBLY! Prior to Wells, I have always banked at smaller banks and NEVEr had any problems whatsoever! My inbestment manager in another state recommended WELLS FARGO! I have PAID INTO WELLS”FARGO ” FUND..and EVERY SINGLE TIME WELLS FARGO charges are FRAUDULENT! WELLS just got throughsending me FOUR BOXES OF CHECKS…and those checks were STOLEN by an intruder! YEAH!…and so now i am planning to locate a bank that is SOLID, and NOT GREEDY! KAYDEE

  • KAYDEE
    WELLS FARGO BANK actually ISSUED TO ME several boxes of CHECKS

    and it didn’t take me too long to discover that EVERY SINGLE CHECK WAS INVALID! I “paid my nmortgage” with an in valid check (even tho there were MORE that adequate FUNDS in my account!….I am finding that WELLS FARGO really DOES NOT “KNOW” how to “BANK” as well as WELLS simply does not provide the USUAL BANKING ASSISTANCE…the only thing that WELLS FARGO “DOES” is to issue phony banking documents…and then WELLS FARGO “COLLECTS” from every single customer!

  • KAYDEE
    WELLS FARGO BANK actually ISSUED TO ME several boxes of CHECKS

    that was “NICE” except for the FACT that EVERY SINGLE CHECK THAT WAS ISSUED TO ME (the ENTIRE BOX) was simply INVALID!….by that I mean that ABSOLUTLEY NONE OF THE CHECKS that were IN the box were actully GOOD CHECKS! i wrote several checks..and EVERY SINGLE ONE OF THOSE CHECKS “BOUNCED”…not because fif lack of funds, but simply because of the fACT that IN CORRECT “NUMBERS” had been printed BY WELS FARGO BANK…..and then that bank issued INVALID CHECK BOOKS! SOMETHING EXTREMELY WRONG is happening! I honestly believe that it has NOTHING to do with the recession, but rather with the INTENT to “SCREW CUSTOMERS”

  • Arkady
    The worse fraudsters

    In Re: RJM request payment for delinquent account puchased :WELLS FARGO BANK MASTERCARD ACCOUNT
    Fraudulent account#: 5410376261337924
    RJM phone # 800-651-4594

    Somewhere in middle 80th I was interesting in originating Real Estate nloans and stopped in Wells Fargo brunch (WF here and after) on Farfax Ave. near Beverly Blvd.
    Manager, lady from Hungary, collected my data, promice to send me a credit card on assumed name Aaron Dash, analyze my chances to get a spedy loan.
    I never heard from her.
    In a while, I, saddenly received letters with request to pay $5,000 ++ money for subject credit card that I never had.  When I called, someone told me that this left from First Inerstate they took over, when I requested to see my signatures they stopped they request and said everything is clear.
    Years down the road, in 2000, I was in training in Marcony Co, Cleavland, Ohio for new position.  Suddenly manager called me and handled ticket for Los Angeles, as he explained, dew to luck of communication.   When I got home, I find refusal from American Express Co to give me a card dew to your claim for subject nonexistant loan(?).
    In a few days everything was clear, but $50,000 thousands a year job was gone.
    Since those time I was never able to find engineering job that required a background check.
    Last Friday I received a letter from above mentioned RJM LLC.  All this years you were publising non-existing fraud,
    smeared my name and credit history, deprived me from employment in my field, being covered by health insurance and other perks suitable for my education and experience.
    When I called today, at about 9:30 am, I refused to give my SSN and requested name of a person insisting on it (somehow, your account # was not enough for him), man just hang up on me.  Your employees trained in fraud.
    As a rezult I was not able to get a real job since 2000.
    Immedeatly get in touch with me.
    Law suit pending. 

  • PoorlyTrainedWFEmployeesEverywhere
    I agree

    I used to have a WF account in California but ended it after numerous mistakes they made. Years later, I got a business account with WF b/c I knew they were one of the banks that wouldn’t fold in the current economy and I hoped they had improved over the years. But every interaction I have with their undertrained, incompetent employees is just painful. I always have to double check what they do because there are frequent errors. Already in my two months of having an account with them again they misallocated one deposit, did not know how to update my address, and a BANKER (not a teller) had to go get the manger b/c she didn’t know if I could submit deposits online or not. Getting the manager took 10 minutes. What a drag.

    Suggestion: Wells Fargo execs should send some of their own to do regular transactions as any customer would. Then they would understand what their clients are going through and might revamp their hiring/training process!

  • Melissa
    I do have my problems with them…

    I have been a customer for over 10 years and have had so many problems. I have many bank accounts and keep it just for the ATM access. I usually keep very little money in that account because of all the problems and surprising fees over the years. I have not had good luck with their services or representatives over the years. This bank is fine as long as you don’t encounter any problems. I have had a few fraud charges over the years and the bank was not the easiest to deal with. I have had better luck with my other banks.

    I can remember an occurrence that happened recently: At least call me if you are emptying my account so that I won’t write checks. I had a user on my account with some problem charges and because that person was linked to my account, my account was emptied. They emptied my account without even notifying me and the agents were borderline rude. They would not let me know their customer id numbers to complain about them. I can’t believe how difficult they were. They did tell me their names (if they were their real names). At the Westlake Call Center Scott Turner and Johnny Star were what I would call unacceptable customer service agents.

  • fellowwfhater
    The Home Affordable Program is a joke to Wells Fargo

    I started the process for the Home Affordable Program in May. I was told that I would most likely qualify because of my severe long term medical problems and they were going to send me an application. I waited patiently until August when I contacted them again. They had no record of any call from me so I started the process over again.< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

    Another few weeks went by with nothing so I called them again. They took my information over the phone and told me I do qualify for the program and what documents that I needed to send them along with the formal application that would be sent out right away.

    Another few weeks with nothing so I called again. I was told that the application was on its way, but don’t worry because September’s payment was taken care of. I was assured that no late fees would be charged. On September 16th I noticed a late fee on my account so I called again. I was told that the process had not even been started and I first needed to fill out the application that I am still waiting for. It had been about 15 weeks at this point since I started this process.

    A few days later I did get the application and immediately filled it out and sent it back with all requested documentation. I called back to verify my status and was told by a supervisor that her employees had been giving wrong information to a lot of people and have been reprimanded. She also stated that if I didn’t pay my mortgage balance in full by the end of September I would be in default.

    The day after I paid my mortgage in full, I received something in the mail stating that I had been approved and all that I had to do to finalize my acceptance into the Home Affordable Trial Modification Plan was to call by October 6th so I called immediately (Sept 24th). I was told that I had been approved and that there was no need for me to have paid September’s payment because that would have been included in my reduced payment plan. The mortgage was already paid so they set up payments for October through December.

     I now really don’t trust them so I called back a few more times to see if any two people at this bank can give me the same information. At this point I have spoken to 32 different people and received 32 entirely different answers. They have started the whole application process over several times in September because they claimed that they had no record of my application. On the same day I called back and was told that my application was denied the day before – this was after several people had told me that I was already in the program.  Now they claimed that this never happened. I have payment confirmation numbers that mean nothing. Another person told me after that my payments had been set up but were cancelled and they did not know why.

    I finally spoke to someone in a position of authority on Sept 29th who genuinely seemed appalled by this whole thing. She once again set up my payment plan that had been deleted the day before. A second supervisor confirmed the next day that four automatic payments were indeed set up.

    On October 6th I received yet another nearly identical application along with payment coupons.

    I called again on October 7th (call # 34) and was told that my last application was invalid because I had used a September date. I was told that they did not even start this program until October and the government required documentation with October dates. Two of my automatic payments had been once again deleted plus now I had payment coupons. I was told that until they get my newest application with the correct date that they cannot move forward.

    Wells Fargo has now changed the rules on me more than two dozen times. Everyone tells me something completely different. All of the stress from endless hours of filling out applications and talking to these people with no progress has greatly exasperated my medical condition. They are mandated by the government to help people in my situation, but instead are just making things worse.

    After many stressful months of phone calls and going through the application process multiple times, I finally got qualified for the trial phase of the HAMP program. For weeks after returning the final application and after verifying that Wells Fargo had it in their possession, I got calls daily to see if I had sent it in yet. It didn’t matter how many times I confirmed that they had it, they still kept calling (do they have computers or know how to use them?)

    Since I have zero trust in this bank by now, I called a few days before the payment was to be automatically withdrawn from my checking account. I was assured that everything was in place and this time the payment would be made, thus officially starting the trial phase of the program. I never expected the problem that occurred.

    As a result of them going through the application process multiple times in addition to setting up and then deleting my payment schedule multiple times, there was some confusion as to the exact amount to be paid monthly. It was only a $12 difference, so I told them that I didn’t care which amount they were going to withdraw, I just wanted it set up. I was assured by more than one person that everything was set up properly.

    Much to my shock and dismay, they made 2 withdrawals on the same day, one for each of the different amounts. This caused my account to be overdrawn by hundreds of dollars. I called immediately to get them to fix this blatant error and was told that there was nothing that they could do about it. At first they wouldn’t even admit to the error. Eventually after several phone calls they admitted the error but still refused to correct it. They suggested that I just forget about it and maybe it could be credited for the following month’s payment. If I could afford to do that, I would not have needed this program and the headaches associated with 7 months of jumping through their ridiculous hoops.

    I had recently mailed several checks that to pay bills, none of which has cleared yet. I told WF that waiting another month to reconcile what was clearly their error was not an option. I am now in jeopardy of having all of my utilities shut off. I was told repeatedly that there was nothing that they could do about it. My account is now frozen with a negative balance. Several calls and more than 24 hours later, I was told that yes, they did make a mistake and yes they would refund the money but it would take 7 – 10 days for this to happen. I spent my birthday at home in tears. I have no money for food, gas, medical care or to pay my utilities. Wells Fargo knows this and does not care. I am very ill (this prolonged illness and related medical expenses is the reason for needing this program). The stress of this situation has had a significant impact on my health but now I can’t even afford the gas to go to the doctor or to pay for my medication.

    If you are persistent enough to badger then into letting you into this program, whatever you do, don’t trust them with automatic withdrawals. They will likely wipe out whatever money you have in your checking account and it will take a lot of effort on your part to get it back. If you are a lawyer and are looking for a good case, please contact me. It is definitely lawsuit time.

  • MADATWF
    YES, THEY ARE SUCKS!!!!!

    THEY HOLD THE MONEY WE DEPOSITED TODAY FOR 11 WORK DAYS!!!!!WHAT IF WE NEED THE MONEY TOMORROW? NO WAY!!!! 11 DAYS!!!!! UNBELIVABLE!!! YES , THEY ARE SO SUCKS!!!!!!!

     

  • haha

    Why are you people still responding to a post written 9 years ago

  • anonymousf
    Terrible

    Their fees alone are absurd. $10 for an incoming wire? They are charging my business to receive money…If I were an exec at Wells, that’d be the first thing I would get rid of.

    Our Wells banker lied about all these fees. He lied about our starting interest rate (promised .65% but later gave us .40%). Bank of America is offering 1.0% at the time. They have fees but they’re reasonable (wires, payroll, etc). WellsFargo nickle and dimed us every step of the way. $3 to view checks online? Give me a break. It’s only 3 bucks but it really shows how far they’ll go to make an extra buck off their customers. I’ll never open an account with Wells again.

  • Yourmother
    you are a douche

    Stay in the US – Don’t move to Japan and blame an American institution for your own incompetence.

    Bring a checkbook? Pay the fee for an international wire transfer one time – but transfer a PILE of $$.

    You are dumb

  • ChrisStubbs
    Betrayed Long Term Customer

    In December of last year, I took out my fifth mortgage with Wells Fargo, and I would have expected to be treated reasonably well.  Since I have two properties with mortgages through them and the payment is due on the same date for both (it’s been that way for over a decade), I always pay with one check, enclosing both coupons.  In August they took the entire proceeds of one of the checks and applied it to only one of my mortgages.  They have been dunning me ever since on the other mortgage, and numerous phone calls and letter to their legal department have done no good.  Though they have acknowledged the mistake and verbally apologized for having made it, they never fix the problem.  Yesterday I learned that they are reporting my mortgage as three months in arrears, which simply is not true.  I have cancelled checks for each and every month that show that they received the money.  A month ago, in complete frustration, I sued them in Small Claims Court for the amount they said I never paid.  You would think that this would force a sane and competent person to resolve this, wouldn’t you?  No deal- we go to court on Tuesday.  If this is not resolved to my complete satisfaction at that time, I will be suing them for a great deal more than the disputed amount.  A side issue is that I have been trying to get a copy of the appraisal on the property I purchased since last December to no avail.  It’s now fairly obvious that they never performed an appraisal (though they said the had), and neither I nor the title company every received a copy.  They are complete scumbags!  I had a credit score of 800 before I tangled with these lowlifes.

  • angelcat

    I have had 2 or more vehicles through wells fargo, I have gotten to the point I can’t stand them. there are a couple of nice ones that could probably be counted on one hand, my problem is in 2006 my husband and I had to file bankruptcy do to medical reason, and I ended up having to quit work because of it. I had COPD. We had filed a 13 originally, until the Trustee started to ask for more and more money. we then switched it over to a chapter 7. If I could afford what she kept increasing the dollar amount to I would have been able to pay my own bills without the governments help to keep everyone off my back. Anyway, the one car we were going to return back to wells fargo. Instead My daughter kept it. the thing blew up. neither one could afford to fix it. I called wells fargo to come pick it up. they would not do it. It took them six months. I am now paying on a repoed vehicle because of the bankruptcy laws. the other vehicle, I stil have, if it is one day late they are calling. I explain situation to them and tell them when I will beable to pay it which is still within 30 days of the actual due date, and that is not good enough. Ihang up on them after cussing a couple of times. I also have a student loan through them. I guess I’ll stay in shool for the rest of my life till I die. No cosigner.

  • http://blahblahblah blahblahblah

    FYI, JAPAN GUY..FOR AN INTERNATIONAL WIRE YOU WILL NEED A SWIFT CODE AND FOR DOMESTIC WIRE YOU WILL NEED A ROUTING NUMBER. AND NO, OVER THE PHONE, FAX WIRES ARE NOT ACCEPTABLE. THE REASON IS THAT THEY NEED YOU TO BE IN THE BRANCH TO ID YOU. I DON’T THINK YOU WOULD LIKE IT WHEN I FORGE YOUR SIGNATURE AND FAX A WIRE FORM TO THE BANK TO WIRE MONEY INTO MY ACCOUNT. THINK BEFORE YOU SPEAK.
    FOR THOSE WHO OVERDRAWN YOUR ACCOUNT, YOU SHOULDN’T BLAME ANYONE BUT YOURSELF. IF YOU TAKE CARE OF YOUR FINANCIAL WELL, YOU SHOULD KNOW HOW MUCH YOU HAVE BEFORE YOU SPEND YOUR MONEY. YOUR DEBIT CARD WILL ALLOW YOU TO OVERDRAWN BASE ON YOUR RELATIONSHIP WITH THE BANK. IF YOU WERE TO BE STRANDED SOMEWHERE, YOU WILL THANK GOD THAT WELLS FARGO LET YOU OVERDRAWN YOUR ACCOUNT TO FILL UP YOU TANK OF GAS. SO STOP BLAMING THE STAFF AND THE BANK ITSELF. IF YOU NEED THOSE FEES REVERSED, STEP UP AND ADMIT THAT IT WAS YOUR FAULT. MANAGERS WILL MOST LIKELY HELP YOU OUT IF YOU DN’T COME IN AND MAKE A SENSE, OR BE A JERK

  • WELLS FARGO SUCKS

    I have spent years keeping my credit A-1 and now no one will even talk to us now about getting a good mortgage, this is our dream house that we built and would really like to keep it and with good loan.
    I guess I was asking Wells Fargo for too much to be a great customer and prompt payer, they would rather jerk people around and get that high interest no matter what, step on your toes and shoot themselves in the foot!
    with Wells Fargo Financial, very unhappy with and abusive predatory tactics/promises/LIES
    on 02/18/08 we financed our home with Wells Fargo Financial to pay off debt that we inquired during the rebuilding process of our home, the home was previuosly free & clear, we dealt with Trishia Hunt, she contacted us cold call, and we were promised a fixed rate loan, no problem, get to closing and it turned out to be an ARM @12% interest with 3 year adjustment, my wife had a few things on her credit that was paid off so according to Trish that we can refinance at a good rate in 1 year, Great! Now we have good credit, no late payments on anything and I mean everything. also extra used funds to put in a new septic system & other improvements so we can get ready to refinance at 95% of value next year as Wells Fargo will do that, but for them to get around that, they have their own appraiser and he will low ball the appraisal, We had house appraised for $90,000 a few months earlier by another appraiser, (but that deal did not go through), and Wells Fargo says it is only worth $70,000 and that was before/after many expensive updates.
    Now comes April of 2009 and we were contacted by David Olson one of the managers at the Grand Rapids, Mi. branch and said we are ready to roll this loan into a 4.5% 30 year mortgage, $7500, in closing costs, very high but he said was negotable Great! so we sent all the paperwork in, in April which was all there, and David also said the sooner we get our paperwork in the sooner we close this loan, so I did just that, then 05/28/09 comes along and we finally got the Truth in lending Disclosure, Great! every thing looks good, the terms and everything were good for us.
    Ok, now that the home still needed a little work to be perfect, I finished some small projects and still needed to complete the garage, siding, electrical, wood floors, landscaping, etc. so I contacted David Olson and he said the loan is all approved and just waiting on the appraiser, so I waited for a few weeks and asked David Olson again what was going on?, again he said the loan has been approved and still waiting on the appraiser, busy guy, so I asked if I could get my own appraiser and he said no. and David Olson advised me to borrow money to finish your home before the appraiser gets there to get the best appraisal, OK, borrowed about $5000 to finish home and everything was good to go now, just waiting on the appraiser. Now I also asked David if we should get another fianace company to refinance since they were having trouble getting a appraiser here and David said just be patient, the loan is all approved and the appraiser will be there/well this went on all summer, if I would have known this guy was lying to me, I would have found another finance company, but I would have 2% prepayment penalty on the loan , so we would just stick to the plan.
    Ok now here comes 08/31/09 a refusal letter stating that we insuffceint income, which we did not a year before and excesive obligations, yes that is true but since we borrowed money to fix up home, thanks to David Olson’s advise, I would think that would be expected, since I was going to pay off all debt with loan proceeds and we are on a good path to great credit, I have been borrowing money to pay some bills till this loan went through, well since the loan did not go through, I cannot pay my unsecured debt Now I am in big trouble, my fault for listening to these lies from David Olson and Wells Fargo. This totally unreal, I believed what they were telling me? I would not imangine a company telling straight out lies to their customers!
    Ok, now comes the Home Affordable Modification Loan since our income has dropped $900.per month due to my tenants not paying and the overwhelming unsecured debt ( my wife is a Vet and we are both on Social Security fixed income due to disability’s), that was 09/11/09 We sent all required info for the Home Affordable Modification to Kerrie Holst and on 11/04/09 Kerrie Holst needed more info, we sent that out promptly and about a week later Karrie Holst called me and said we do not qualify for the Home Affordable Program, we received too much money and the payment would go UP instead of down, I then asked her if there is another way of getting this home in a good loan, and she said it was in a good loan and 12% ARM is a very good rate? WHAT? and she kept insisting me that she trying her best to help me? WHAT?, well that conversation did not end well.
    1. OK now check out these 3 situations- 02/18/08 had good credit except wife, not too bad, promised a fixed rate-we get 12% ARM 40 year $675 a month, Ok no problem say Trishia Hunt, at time promised us refinance next year when these marks are off of credit.
    2. now we apply for a good loan all credit issues cleared up, April 2009 4.5% 30 year fixed-$399.51 a month, down from $675.00 mo. perfect! come 08/31/09, got refused for this loan, findings-could not afford this loan/payment? WHAT?
    3. Now we apply for the Home Affordable Modification 11-09, since our monthly income went down $900 a month, got refused because we receive too much money and the payments would go UP from $675. month, instead of down, Well That is our nightmare with this bank. I cannot believe that people have to lie to do business, and due to the lies, they have backed us right into a corner and we will be stuck with Wells Fargo & their high interest rates till I find a way to pay off our home