CalifAttorney
Roseville,#2General Comment
Thu, September 23, 2010
On September 16, 2010, a civil lawsuit was filed against Wells Fargo Home Mortgage, Inc. based on similar facts where bank is alleged to have breached contract for residential construction/perm loan. (Heryford and Heryford v. Wells Fargo & Company et al., California Superior Court, County of Placer, Case No. SCV0027897.) Plaintiffs are represented by Chandler Legal Group in Roseville, California.
Travis
Denver,#3Consumer Comment
Fri, February 27, 2009
This same thing happened to me! What was the name of your loan program? "Builders Best, or Construction/Perm Advantage"? I think there must be others out there besides us. If so, and you are reading this I hope you are preparing your own response to this site- I am! My experience was almost identical to this. In fact I could haven written this. The only difference is I don't think my credit history has dropped, in fact I'm worth more today than I was when I got this construction to perm loan. And yet WF refuses to honor its own agreement to roll this loan over into the perm loan. I even paid a point for the sole and specific purpose of locking in the rate and terms of my perm loan, which WF refuses to honor or return. This one point was over $5,000 and was in addition to the 1 point I paid to close the construction loan. Something is wrong behind the scenes at WF. I have nothing but my own experience, this persons story, and other stories I've heard on Fox Business News where WF has refused to fulfill its contractual obligations, but is it possible WF is hiding off balance sheet losses?