sillymac
07-25-2003, 05:46 AM
Ok, I have a good one! In my negligence I thought that I had until the end of March to settle my past due balance, when in fact it was the first of the month. I contacted my mortgage company the second week in the month only to find out that they had initiated foreclosure proceedings against me! I was given the phone number to an attorney's office for more information.
After recovering from the initial shock, I contacted the attorney's office and was told that they had no information in their system on me. I called my mortgage company (Wells Fargo) back and informed them of this. Well, to make a long and boring story short, Wells Fargo offered me an agreement where I sent them a certified check for a portion of the total amount due. They took the remaining balance and rolled it back into my loan.
I had continued to contact the attorney's office every other day to see whether they had received any information on my loan. They didn't receive anything until around March 14. I overnighted my cashiers check which was received and processed on March 28. I contacted another mortgage company in order to refinance my loan this month...currently at 7.125%. I was approved for 5.75% and the paperwork was generated. I was contacted by the mortgage broker and questioned about a $501.51 charge entitled Recoverable Corporate Advance! I contacted Wells Fargo and was told that they had paid the attorney's office in advance for some fees, Wells Fargo paid a portion of the fees, and then tacked on the balance remaining to the end of my loan. Mind you, no one had bothered to inform me that these charges were being assessed to my loan and I ended up paying this cost at my refinancing! I was not a happy camper.
Has anyone else heard of this and is there any recourse on recovering any of these fees from Wells Fargo or the attorney's office? I have not received any documentation on the breakdown of the fees, the timeline in which the actions were performed or anything. I spoke with a customer service representative at Wells Fargo and they are sending me what they have on this issue. Should I contact the attorney's office and have them send me their breakdown and timeline as well? I feel that I am entitled to know exactly what I paid for and why.
I'd appreciate any comments and/or suggestions!
HELP ME! :(
After recovering from the initial shock, I contacted the attorney's office and was told that they had no information in their system on me. I called my mortgage company (Wells Fargo) back and informed them of this. Well, to make a long and boring story short, Wells Fargo offered me an agreement where I sent them a certified check for a portion of the total amount due. They took the remaining balance and rolled it back into my loan.
I had continued to contact the attorney's office every other day to see whether they had received any information on my loan. They didn't receive anything until around March 14. I overnighted my cashiers check which was received and processed on March 28. I contacted another mortgage company in order to refinance my loan this month...currently at 7.125%. I was approved for 5.75% and the paperwork was generated. I was contacted by the mortgage broker and questioned about a $501.51 charge entitled Recoverable Corporate Advance! I contacted Wells Fargo and was told that they had paid the attorney's office in advance for some fees, Wells Fargo paid a portion of the fees, and then tacked on the balance remaining to the end of my loan. Mind you, no one had bothered to inform me that these charges were being assessed to my loan and I ended up paying this cost at my refinancing! I was not a happy camper.
Has anyone else heard of this and is there any recourse on recovering any of these fees from Wells Fargo or the attorney's office? I have not received any documentation on the breakdown of the fees, the timeline in which the actions were performed or anything. I spoke with a customer service representative at Wells Fargo and they are sending me what they have on this issue. Should I contact the attorney's office and have them send me their breakdown and timeline as well? I feel that I am entitled to know exactly what I paid for and why.
I'd appreciate any comments and/or suggestions!
HELP ME! :(