Screw you Wells Fargo Home Mortgage

[MikeyIs4Dcats]

So, we were suppose to be closing on our home sale tomorrow at 9AM. Then closing on our purchase at 10:30am. Then moving.

Got a call half an hour ago saying Wells Fargo (the buyers lender) has decided they can't close tomorrow simply because they are understaffed and didn't get the paperwork done. Now, they originally picked tomorrow telling the buyer they couldn't close at an earlier date she wanted.


So now I have a house completely packed, movers scheduled, carpet cleaners scheduled, all utilities set to be cut off and transferred Saturday. The sellers of our new house have their entire house in a truck on the way to North Carolina.

And no where to go.

Fuck you Wells Fargo.

 

[DeviousTrap]

Sucks for the buyers, but can't you move as scheduled tomorrow? You'll just own the two houses for a couple days until you close on the one you're selling.

 

[Krazy4Real]

Wow... talk about leaving no room for error. Guess it's time to check into a hotel?

 

[MikeyIs4Dcats]

Sucks for the buyers, but can't you move as scheduled tomorrow? You'll just own the two houses for a couple days until you close on the one you're selling.

My contract and loan are predicated on closing of the current home first. While I could technically afford both for a short term, I did not want to have the purchase fall through and be stuck with 2 houses.

 

[Kelvrick]

What is keeping you from moving anyway? Did you need to get that money to the sellers of your new house so they can close? Did anyone tell you that planning this way was a bad idea? Because they should have.

 

[7window]

might be the agreement you sign with the buyer. I don't think its wells fargos fault.

 

[MikeyIs4Dcats]

Wow... talk about leaving no room for error. Guess it's time to check into a hotel?

It's not that we will be homeless, we will continue to live at our current home until closing. But it just destroyed ALL of our planning and arrangements for utilities, movers, freinds to help move. To top it off due to work commitments, I cannot move next week at all, so THAT is where I'm going to have the hardest time. My family and friends will likely have to move without me.

 

[MikeyIs4Dcats]

What is keeping you from moving anyway? Did you need to get that money to the sellers of your new house so they can close? Did anyone tell you that planning this way was a bad idea? Because they should have.

It's common practice. Wells Fargo just dropped the ball. I spoke with the manager and he readily admitted they are just understaffed, not that anything the buyer did or anyone else did caused it. And yet he was unwilling to do anything to remedy it.

 

[sactoking]

Sucks for the buyers, but can't you move as scheduled tomorrow? You'll just own the two houses for a couple days until you close on the one you're selling.

Not if the purchase financing is contingent upon the sale going through.

 

[dmcowen674]

First mistake was doing any business with that crooked corrupt bank to begin with.

 

[MikeyIs4Dcats]

First mistake was doing any business with that crooked corrupt bank to begin with.

first mistake was not learning to read....I had nothing to do with them.

 

[TastesLikeChicken]

We closed on a house using Wells Fargo a little over a month ago. They constantly were getting the paperwork wrong during the process and had us resubmitting the same information over and over again. Had to stay on them all the time. Bunch of fuckups. If it wasn't for the fact that they were the bank behind the relocation package we never would have used them.

 

[Cuda1447]

first mistake was not learning to read....I had nothing to do with them.

He's not big on reading, just running his mouth.

 

[Jumpem]

What is keeping you from moving anyway? Did you need to get that money to the sellers of your new house so they can close? Did anyone tell you that planning this way was a bad idea? Because they should have.

This is how it is done. You close on the sale of your current house. Then close on the purchase of your new house later in the same day. Then move out also that day.

 

[Jumpem]

I know how you feel. We are in the process of moving, and have had two closing dates from the bank fall through. We keep having to cancel and reschedule movers, time off from work, and help from family.

The relocation company being used by the seller of our new house is horrible. And their lawyer has been dropping the ball and holding things up.

 

[Worthington]

Sounds about par for the course with them. Sorry man that sucks.

 

[bignateyk]

:\ That happened to us too with Wells Fargo. They forgot to fill out some piece of paper that is required by law to be filled out 72 hours prior to closing, so we had to wait 2 days to close.

 

[markgm]

All banks do this. You'd think if all a mortgage department does is handle mortgages they'd actually be good at it and every little thing that happens wouldn't be some giant surprise that pushes everything back.

 

[velillen]

It's not that we will be homeless, we will continue to live at our current home until closing. But it just destroyed ALL of our planning and arrangements for utilities, movers, freinds to help move. To top it off due to work commitments, I cannot move next week at all, so THAT is where I'm going to have the hardest time. My family and friends will likely have to move without me.

Really utilities? Took me all of 10 minutes (at most) to transfer all mine last week. Would hardly say its a big deal on that.

Though i feel ya on the moving part. nothing like working 12 hour days and still trying to move in...espcially when your old place is a good ~20 minute drive. Just so much time wasted! Well that and being up at 4am i really didnt want to be up late either lol.

As for like carpet cleaning. if you can call the owner and just try to see if she will let you have a key in advance to allow for things like that. i know the previous owners of my house had no problems doing that. of course that was after the loan had been approved and was at the title company just needing to be signed as well.At that point they had no problem letting me have a key just to get the carpets cleaned.

And you aren't alone. That sort of situation has happened to a few friends. Either their house ends up being the one having issues or the one they are buying does. Sucks but not much you can do either.

 

[bignateyk]

It's not that we will be homeless, we will continue to live at our current home until closing. But it just destroyed ALL of our planning and arrangements for utilities, movers, freinds to help move. To top it off due to work commitments, I cannot move next week at all, so THAT is where I'm going to have the hardest time. My family and friends will likely have to move without me.

That sucks. We were on pretty good terms with the people we were buying from (it was a FSBO), so they let us move in a few days early anyway.

 

[dfuze]

Damn that sucks, been in a similar situation a few years ago with the buyer's lender.

Any clue when they can get the paperwork done by?

 

[Linflas]

I just did a VA IRRL refinance with Wells Fargo and it required very little effort on my part and the only delay was caused by my Credit Union being slow with a subordination for the HELC we have with them. My mortgage has been with Wells Fargo for 6 years or so and I have never had an issue with them.

 

[Kelvrick]

This is how it is done. You close on the sale of your current house. Then close on the purchase of your new house later in the same day. Then move out also that day.

Ah, my life experience has not extended to a second house yet.

It makes sense that the seller's mortgage of his new house is contingent on the first house selling, I just didn't think it made sense to plan the workings to all happen on the same day.

 

[Wyndru]

That sucks. We had this happen when we bought our house, but it was the seller not being ready to move out yet. We had to live with our parents for 2 weeks with our stuff packed in a UHaul. Our contract at our apartment stated we had to be out at the end of the month, we couldn't do 1/2 month.

Adjusting of closing dates should not even be an option without penalties of some kind, like the bank refunds some closing costs or something. It really does suck.

 

[MikeyIs4Dcats]

well, Friday came and went, and now they won't even commit to closing on Monday.