Wells Fargo Home Mortgage Formerly Known As Norwest Mortgage Inc. Violated First Time Buyers Program - California Department of Corporations Revoked their California License for Unscrewpulous Business Tactics ripoff Upland California
Violated First Time Buyers Program - Wells Fargo failed to comply with repairs required by Federal Laws and the First Time Buyers Program for Riverside County. Wells Fargo was barred from the Riverside County First Time Buyers Program for their failure to Complete & Certify the repairs required on property located at
1055 Douglas St., Calimesa ca 92320. Escrow closed erroneously March 2000 - Repairs remain untouched by Wells Fargo. Fargo refuses to complete repairs that they acknowledge liability for based on buyers refusal to sign release of liability and an agreement NOT TO GO PUBLIC. Contractor's refuse to submit bids or perform any work when they discover Wells Fargo is involved.
The County of Riverside has done next to nothing to force Fargo to comply with the terms of the First Time Buyers Program.
Fargo's tactics caused buyer to be terminated from her employment, eventually causing her to fall behind in her payments. Fargo does a motification to the loan, increasing the interest rate and monthly payments. They add over $10,000.00 to the amount owed which already included peanalties, interest and past due payments. They changed the hazard insurance carrier resulting a yearly increase from $400.00 to $1,600.00 for substantially less coverage.
A class action lawsuit for similure acts was filed in the
San Diego Superior Court, State of California, Case No. N73741 Courts may grant a settlement of 5% to the Class. If granted Fargo can laugh all the way to the bank saying Crime really does pay!
The California Department of Corporations revoked Wells Fargo's license to do business in the State of California on May 5, 2003 for unscrupulous business practices. Wells Fargo Continues to operate as usual, in an unscrupulous manner. Copies of actual Court Documents Can be found at the California Department of Corporation's Web site.
Note: Wells Fargo Auto Financing had their corporate license revoked some years ago. Now Wells Fargo Mortgae has had their's revoked.
Is Wells Fargo Bank next? I will submit more info on them in the near future.
For the record I have personal first hand knowledge of all the facts stated herein. I have seen and have access to all documentation to back it all up. I have taken several precautionary measures to insure and protect against the possability of my sudden or untimely demise which will trigger a number of legal maneuvers to insure Justice is properly served. Unfortunately there is nothing setup or arranged to stop the triggers in the event of accidental death. Sorry Fargo.
Thomas
Covina, California
U.S.A.