WELLS FARGO BANK, - PROSPERITY MORTGAGE BETRAYED IN VA - DISHONEST - RIPOFF - SNEAKY BUSINESS VIRGINIA BEACH Virginia
I began the mortgage loan process in early June 2006 with Wells Fargo out of Virginia Beach. They called me with an offer and it sounded like something that could help me out financially. I was told it would only take 2 weeks to close.
A month and a half later, I finally did close. I was very frustrated due to the length of time to close and I had several creditors calling me about late payments. Week by week, I was told the process was almost done. To top it all off. I closed and everything looked on the up and up, but after the 3 day cancellation period was up, I received a call from them with a problem. They said that my loan was not titled a refi-cash out, instead it was just a refinance. SO, my cash out could only be at 2%. (the settlement statement did not show this) So, they sent me an updated HUD statement, listing that I needed to use some of my cash out money to pay off a creditor.
This was all done after all documents had been signed by me as well as the notary/closer. The settlement document that I signed was correct in the amounts to be paid off and also the cash out to me. I just felt taken, lied to and they were not willing to correct their error. They just left me hanging. How can this happen I thought?? I just wanted the loan that was discussed for almost two months and the one I signed my life away to.
They just dismissed the whole situation to that it was no turning back since the checks had been cut to my creditors. But the funny thing is, no checks were sent until they found out about THEIR error and wanted to just move the process along in their way.
SO BEWARE and don't ever use them. They lie and are not willing to correct their mistakes. Taken by Wells Fargo in Virginia.
Tammy
LYNCHBURG, Virginia
U.S.A.
2 Updates & Rebuttals
Nick M
Laurel,Maryland,
United States of America
This story is not unique
#3General Comment
Fri, February 25, 2011
To me, it sounds like the poster should be angry with her parents for not teaching her how to handle money. This should be a requirement in every school curriculum, including examples of what happens to people who spend more than they can afford. There are too many members of my family who have this same problem, and one of them is not in jail because of it.
If this poor woman was already being hounded by creditors in the HEIGHT of the boom, I'd hate to see where she is now.
Drivel92787
Hagerstown,Maryland,
U.S.A.
Sounds like the previous poster just wasn't happy with the results
#3Consumer Suggestion
Sat, April 04, 2009
To be honest it sounds like you just weren't happy with the way things ended up. It sounds like you were frustrated because you owe a lot of creditors that you couldn't afford to pay and were rolling it in your mortgage. The tips are to no wait until the last minute to refinance and don't count on your home to always bail you out, that's what gets people in trouble and the reason we have so many foreclosures.