- Report: #1130000
Complaint Review: Wells Fargo mortgage - San Francisco California
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Author Not Confirmed
Why?
Wells Fargo mortgage
San Francisco, California, USA
Phone:
1 (800) 869-3557
Web:
https://www.wellsfargo.com/about/corporate/
Categories:
Business Rating:
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Wells Fargo mortgage Called a loan that was never paid late San Francisco California
I am seeking other consumers who had this happen to them, to perhaps file a lawsuit against Wells Fargo together.
I owned a 4 unit and a 2 unit property on one lot, and used a commercial loan with wells fargo to purchase the property. I made auto payment from my account for 8 yeras without being late once.
When values went up, I requested in 2008 ( fater 8 years of owning the proeprty), wells fargo to transfer the commercial loan to the residential fourplex only, after the lot split. We this ended up with a fourplex on one lot and a duplex on another lot. Wells fargo agreed to it if we paid down the loan with 50,000, which we did.
The fourplex was cash flow positive evey month (net) @ 1900 per monht.
In 2010, Wells fargo calld the loan. They were not willing to extend to loan ( a one yar ARM), and forced me to sell the property for much less than market vlaue for two reasons: 1. I had to sell before they filed an NOD on my record, and it was a forced sale to be closed in less than 25 dyas.
Wells Fargo should not have been allowed to call the loan as it was a residnetial property, and not a commecial proeprty anymore as they accpetd the transfer.
Who can help me?
A
1 Updates & Rebuttals
MochaG
Springfield,unclear
#2Consumer Comment
Wed, March 12, 2014
I am not sure what type of you loan you changed to? A loan to pay for a property is not necessary to be a mortgage. As long as you do not really know what kind of loan you got, it may be difficult to point you to the right direction...
