About a year ago, my husband and I decide to purchase a second home. We though we would do a foreclosure or short sale. We found a home that fits our criteria and put a bid in. It was a short sale. Now my husband and I know that short sale are really disguise as LONG Sales! Our bid was accepted and we went for a mortgage. We decide to go with Wells Fargo. What a disaster!!
Six months later we still haven't closed!! Our initial loan officer kathleen was so incompetent that they finally fired her. She was constantly asking us for the same information . Day after day she would request bits and piece of information she needed, many times it was the same request for the same information!! Then she went on vacation. The fact of the matter is she never went on vacation. She was fired for incompetents. We learned this thru different channels. I am frustrated that this has gone on for so long. Now I know that short sale take time but this long!! Our contract deadline came and went. They never contact us to let us know that they had extended the contract nor do we now if our rates are the same. Of course we have been in touch with our lawyer.
But what I want to know is this the norm for short sale? Do banks really handle their clients this way? I tell you one thing I will never go with Wells Fargo again, nor would I recommend them to any one else!! I heard thru the grape vain that this is not unheard of with this bank. Shame on them!! No wonder people have lost trust in the banking industry. We need to hold banks accountable for their action, just like everyone else. My advice to everyone, do your home work and research the bank, not just for the rates but for their integrity and their history on how they handle their clients. Customer satisfaction counts!! Good Luck to any one searching for a mortgage!
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