Wells Fargo equals bad Business Practice at its best North Providence North Providence Rhode Island
I was pre approved for a 130,000 plus loan at the end of 2008. I found a home in february of 2009 for $ 60,000. I was told by Wells Fargo that if I relocated to New England found a job etc... that I could obtain the loan with 5 percent or so down. So i relocated, found a job etc... did what they told me, closing date was set for May 15th didnt go through because the I hadnt purchased insurance, so i went out and bought insurance for a year, new closing date was set and fell through. It has been about 5 months now and there asking me to put down 25 percent, i found this a bit odd so i called other banks and they told me that no banks give owner occupied loans for multi families over 2 tenaments they all go in as investments... so i feel I was bamboozled mislead besides the fact that I had to leave my wife and child not even 2 years old behind for over 2 months to try and satisfy the bank. besides being mislead this has taken an emotional and psychological toll on myself and my family
Jr
Orlando, Florida
U.S.A.
2 Updates & Rebuttals
Karl
Highlands Ranch,Colorado,
U.S.A.
URGENT UPDATE for Jr: You might have to 'BING' this- RIP OFF REPORT BANK OF AMERICA JP MORGAN CHASE BEAR STEARNS, in order to...
#3Consumer Comment
Mon, July 27, 2009
read about the 'SECRET LIFE INSURANCE POLICIES' that many of the Publicly Held banks who received 'TARP' money were taking out on their former & current employees, which was posted at Ripoffreport.com a while back. For some reason it isn't coming up on a 'Google' search at this time.
You CAN 'Google' this- JP MORGAN CHASE COMPLAINTS SECRET LIFE INSURANCE POLICIES ON, and read that article too.
Good luck to you!
P.S. It's nice to have 'GOOGLE' & 'BING', isn't it? If you can't 'GOOGLE' IT, you can always 'BING' IT, right?
Karl
Highlands Ranch,Colorado,
U.S.A.
Jr, Maybe since banks like WELLS FARGO are no longer profiting from those 'SECRET LIFE INSURANCE POLICIES' that they were...
#3Consumer Comment
Sun, July 12, 2009
taking out on their former & current employees, they no longer can afford to loan the money, huh?
Think about it: If banks were receiving the DEATH BENEFITS when their former & current employees DIED, and they're no longer receiving this money, then perhaps the banks don't have the amount of money available to loan to consumers as they once had, correct?
This does make sense, doesn't it?
I'm sure you've 'Googled' this- RIP OFF REPORT BANK OF AMERICA JP MORGAN CHASE BEAR STEARNS, and read that Rip Off Report from January, haven't you? I'm sure you know that a Texas law firm is involved in this case, right?
I wonder what's happening in that lawsuit?
I wonder if President Obama knows what's going on since the government is now a major shareholder in many of these banks.
Good luck to you!
P.S. Make sure to 'Google' & watch all of the following on the web-
THE ASCENT OF MONEY PBS
INSIDE THE MELTDOWN
FRONTLINE THE MADOFF AFFAIR
THE OBAMA DECEPTION
AMERICA: FREEDOM TO FASCISM
9/11 PRESS FOR TRUTH