Wells Fargo -

[Workinchump]

http://www.huffingtonpost.com/2011/02/17/patrick-rodgers-forecloses-on-wells-fargo_n_824765.html?ref=fb&src=sp

A Philadelphia homeowner started foreclosure proceedings on a Wells Fargo mortgage office after winning a rather strange legal judgement against the bank.

After Patrick Rodgers got no reply to three letters asking why he was being forced to pay a home insurance premium for a $1 million house when he bought his 3-story Victorian home for $180,000, he decided to force his mortgage company to pay attention, ABC News reported.

According to the Philadelphia Inquirer, Rodgers discovered the Real Estate Settlement Procedures Act, which requires mortgage companies to acknowledge written requests within 20 business days or face penalties. He took Wells Fargo to court, winning a default judgement because the bank didn't show up in court.

Passed in 1974 to protect borrowers, RESPA stipulates a standard complain letter that can be sent to lenders. (For more information on RESPA, check out the U.S. Department of Housing and Urban Development's website here.)

Rodgers won a $1,173 judgment against the bank, and when they still failed to reply to his letters, he started foreclosure proceedings.

The contents of Wells Fargo Home Mortgage's offices at 1341 North Delaware Avenue are reportedly still scheduled for a March 4 sherif's sale.

The homeowner placed a sheriffs levy against Well's Fargo's local mortgage office, to cover the $1,173 judgment, plus tax. The bank paid up in January, but still had not responded to his letters, so he started a foreclosure sale on the Wells Fargo office.

[Heavyduty053]

http://www.huffingto...l?ref=fb&src=sp

A Philadelphia homeowner started foreclosure proceedings on a Wells Fargo mortgage office after winning a rather strange legal judgement against the bank.

After Patrick Rodgers got no reply to three letters asking why he was being forced to pay a home insurance premium for a $1 million house when he bought his 3-story Victorian home for $180,000, he decided to force his mortgage company to pay attention, ABC News reported.

According to the Philadelphia Inquirer, Rodgers discovered the Real Estate Settlement Procedures Act, which requires mortgage companies to acknowledge written requests within 20 business days or face penalties. He took Wells Fargo to court, winning a default judgement because the bank didn't show up in court.

Passed in 1974 to protect borrowers, RESPA stipulates a standard complain letter that can be sent to lenders. (For more information on RESPA, check out the U.S. Department of Housing and Urban Development's website here.)

Rodgers won a $1,173 judgment against the bank, and when they still failed to reply to his letters, he started foreclosure proceedings.

The contents of Wells Fargo Home Mortgage's offices at 1341 North Delaware Avenue are reportedly still scheduled for a March 4 sherif's sale.

The homeowner placed a sheriffs levy against Well's Fargo's local mortgage office, to cover the $1,173 judgment, plus tax. The bank paid up in January, but still had not responded to his letters, so he started a foreclosure sale on the Wells Fargo office.

Way to go, i wish him well, maybe he will make the business world set up and take notice.

[Maynard57]

God, I love it!

I have a mortgage with Wells Fargo myself. Not by choice, mind you, but they are successor in interest to Norwest Bank a Twin Cities financial institution that was simply awesome to work with.

A couple of years ago, I ended up over-paying my mortgage due to notices WF neglected to timely send me. Their suggested way to get the account back on track was to skip a monthly payment and let things incrementally even out. I was just stupid enough to take them up on it, which then generated a Notice of Nonpayment the very next month. That was one of the few timely notices I've ever received from those godless $astards.

Long story short, my over-payment culminated in a foreclosure action against me by Wells Fargo!

Thanks for the post. Couldn't happen to a nicer bunch of folks.

Maynard

[freaky frank]

:rolleyes:About time the tables were reversed! Good for him!!

[Dinarisup]

Yes Good for Him, Wow !! These Banks think they can just bully people around, I'm Glad people are taking up for whats going on, in a peaceful way, which is good.

WellsFargo Mortgages, Wow! and almost every bank has had a problem in this area, Yup my Friend Earl in Arizona had problems with Chase Bank so I understand that there are crazy things happening out there.

These Banks are needing to be watched, local Banks might be better, poor people that have to go throught it.

[Marquess]

As owner of a small Mortgage Company, this story made my day. Thanks!

[venetia]

Good for him! The banks here in the UK could do wth a massive kick in the ***** as well.