The Successful Landlord Blog

Here we go again. Back about a year ago I wrote a couple of posts about how Wells Fargo Home Mortgage basically abuses their mortgage customers by treating them like fiscal delinquents because they (who does?) pay their mortgages (gasp) later than the 1st of the month but before the 15th. I have to admit that those two posts are the MOST widely read and commented on entries in this entire blog.

Well, they’re at it again. One of the comments I recently received on one of those prior posts had to do with a mortgage customer who sent in an extra mortgage payment with their regular monthly mortgage payment and explained that it was AN EXTRA MORTGAGE PAYMENT. Wells Fargo, in their wisdom, proceeded to put the extra money into “suspense.” Suspense, in this case, is an accounting term meaning, “I don’t know where this money is supposed to go so I’ll just leave it here “in suspense” until I figure out where it’s supposed to go.” Apparently, the people who process payments can’t read. Anyway… Read the rest of this entry »

I am writing this post for 3 reasons:

1. Wells Fargo Home Mortgage sucks and they just don’t care. Their goal, it seems, is providing bad customer service along with mortgage financing. You can read more about their bad behavior in this post and this post. After I wrote the first post, I was contacted by Wells Fargo corporate as detailed in the second post. Then, I received a letter saying basically we’re allowed to behave like this as specified in the mortgage documents you signed and we’re going to continue on like this and you’re going to like it.
2. In this humble little blog, the first post (above) has been a freaking magnet for disgruntled Wells Fargo Home Mortgage customers. Every week since I made that post I get at least 2 comments and they’re all bad experiences from other home owners. Any more and I may set up a separate web site for this. Read the rest of this entry »

Well, here’s a follow-up post about this post I wrote about my experience with Wells Fargo Home Mortgage.

It’s been over a week since I was first contacted by a couple of “reputation management” people from Wells Fargo corporate. Roughly four days after the post was published, I was contacted by someone via the “contact me” link on the blog asking me to contact him at my convenience about how Wells Fargo could improve my experience with them.

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One of our properties is mortgaged with Wells Fargo Home Mortgage. Now, I should mention that there is nothing special about this loan. It’s not an ARM or a second mortgage or even sub-prime, it’s just an investment property.

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Loan modification leads story on marketwatch.