Blown Mortgage - Latest Comments in Wells Fargo Names Most of California Severely Distressed

Re: Wells Fargo Names Most of California Severely Distressed

Data Recovery Software — Thu, 13 Oct 2011 01:15:02 -0000

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Re: Wells Fargo Names Most of California Severely Distressed

Zip Repair — Tue, 04 Oct 2011 06:58:56 -0000

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Re: Wells Fargo Names Most of California Severely Distressed

Justsayinghello23 — Mon, 22 Aug 2011 12:43:05 -0000

A few months ago, I was going to purchase a very low priced home in Lucerne Valley.
It was owned by Wells Fargo. They had purchased it in a Foreclosure for $20,000.00.
The pictures of the outside looked great.
Yes, it was in the middle of nowhere, but, that was OK with me. I just wanted a home, anywhere, as long as it was within my meager means.
I e-mailed the lady and asked to see pictures of the inside.
Someone had smashed the toilet and sink,
(shower / tub could not be seen on the picture: I don't know if they were damaged)
therefore, there technically was no bathroom...
The only pictures I saw... showed a house in need of every corner to be repaired.
Someone had started many projects everywhere... and never finished anything, or, based on the bathroom being smashed as it was... perhaps, they had just ripped everything here and there...
Mortgage: Wells Fargo was not going to give a mortgage on this.
I would have had to have the cash.............

By the time that I might have had the cash ( through a private loan).......
I now was being told that, though the house was still listed online, it was NOT FOR SALE.

I am disappointed that, Banks are allowed to have gimmicks..........
(Not that I understand their gimmicks, but, nonsensical gimmicks they are..............)

It is a waste of our time.
It is getting hopes up, making people do a lot of search and leg work... for NOTHING.

The laws should be clear.
TRUE facts, ALL facts should be posted.
This not for sale, short sale, foreclosure.......... is crazy.
The economy is bad? THEY are the culprits making it so.

If a home, or anything, is posted online, the asking price should be what it is.
If they'll accept less, great. But, it should never be more.
If it says a bathroom................ it ought to work.
If it is a condemned, inhabitable property, it should say so.
If it has pests, termites, lead, asbestos, no water, no electricity.......... say so.

If Banks only expect cash............ It should say so, and state WHY no loan can be given.
If the roof is about to cave in, if there is black mold, water damage, no furnace,
any and all realities, and true, full disclosures of ALL facts should be mandated posted.

Second dealing with Wells Fargo...
Second bunch of gimmicks discovered...............................

How are they still in business?

There should be somewhere to report this....................

Re: Wells Fargo Names Most of California Severely Distressed

Guest — Thu, 18 Aug 2011 00:44:46 -0000

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Re: Wells Fargo Names Most of California Severely Distressed

Marie — Fri, 26 Jun 2009 14:54:41 -0000

P.S.
Prudential wants us to be accepted by Wells Fargo
despite the fact that we are already approved by a different Lender,
and, seek to deal with our own Lender as planned...........
WHAT is this all about????
Is this even legal????????????????????????????

This can't possibly be legal.

I assume that they'll approve us for the DOUBLED asking price,
while our own Lender would not approve such NONSENSE...
Banks are NOT supposed to lend for anything higher than the real appraised value....

This whole thing seems illogical.

WHERE do we report this?

Re: Wells Fargo Names Most of California Severely Distressed

Marie — Fri, 26 Jun 2009 14:45:51 -0000

We made an offer 3 MONTHS ago on a house.
We were approved for the mortgage.
We were the ONLY offer on a property that had been listed over 200 days.
Our offer was accepted by the Seller.
Then...... we understood it as a Short Sale.
????????
Our contract had a written date for Escrow.

The Realtor kept saying that, the Bank wanted the sale to go through....
If it went into foreclosure, it would cost them a lot of money.......
To maybe get half the value......

We had an ACCEPTANCE by the SELLER.
So...... we had a valid contract.

If the Bank had the right to reject the offer.........
then,
why do we need a contract with the Seller?
The Seller is really NOT the Seller then????????????????

3 MONTHS of being yanked along...... for NOTHING.
Just a waste of our time.
We did so much running around on this.....

SOMEHOW, now, for 3 weeks....... we could not reach our Realtor.
Next thing I knew, he lied and said that the house was going up for auction.
"He'd tell us the auction date"...
"The Bank had refused the offer though the Seller accepted it... ?????????

Never heard from the Realtor again.
Found out elsewhere that it was a lie.

It became Bank owned AFTER our offer was accepted by the Seller.

If it was never owned by the Seller.........
why was it contracted between Seller and Buyer?
We are being told that the Bank took possession
WEEKS AFTER our offer had already been accepted...

It now became listed by Prudential.
We saw a post in front of the house.
We contacted them.
They refused to give us a listed / asking price....

A week of searching....... for the price....
"No price yet." was said by the listing Agent.

Then, proceeding to paint any old which way...
Tore up the blinds. Cut up the cables........
The house now looked an awful mess............
Why were they covering the water damage with paint?
That's deceitful, and illegal.

The story gets worst....
They hiked the price way up high..........
almost DOUBLING the previous asking price..
So.... now, they were telling us that our renewed offer would not be accepted.

I thought that deceitful Real Estate gimmicks were supposed to end......???

What is the solution in this seemingly unfair nightmare?
We don't intend to pay TWICE the value, nor would we have the funds,
which had been the reason for shopping along a lower property price in the first place...
NO Bank will lend us the money to OVERPAY for anything........

WHERE does one report this?

We are told that
it was illegal to post a sign, and refuse to state an asking price.

Then..... we're told that they belong to a different Realtor Board.

How many gimmicks must we wade through?????????

This nonsense should be illegal.

We are totally bewildered.
What a let down!!!!!

If anyone knows any solution, or law to protect our rights,
please inform us.

Thank you.

Re: Wells Fargo Names Most of California Severely Distressed

lin — Tue, 03 Feb 2009 17:53:39 -0000

wells fargo is just a bunch of greedy fat cats that wants your property and money. thats all. they don't give a rip about people period. all their bologne on their website, etc. about working with people is utter nonsense. the first thing that comes out of their mouth is " our investor doesn't modify" oh, and if they do modify they raise their payment. now you tell me how this is a " more affordable payment" sure, for them it is. I hope with this latest scandal with them all going to Vegas on our taxpayer bailout they all get whats coming to them for once. let them sweat see how they like stressing like we do, put the shoe on the other foot. I say screw them