Thursday, October 30, 2008

Wells Fargo can eat my ass

I'm so tired of what is happening in today's economy. Today I get a letter from Wells Fargo stating that they have closed my equity line. Mind you...I have have owned 2 homes for 14 years and never once did i miss a payment. My credit score is near perfect and when I purchased my house I put over 25% down payment. Even currently with a shitty housing market, I still owe far less then the house is worth. I understand that Wells Fargo is trying to protect their interest but treating their good customers like shit is not a good business move.

I never borrowed more then I could afford. I always paid my bills on time. I didn't walk away from something because it's not worth what I paid for it. Why am I being penalized? Wells Fargo said they would be happy to reinstate my equity line if I paid to have the house re-appraised. Btw...they had a 3rd party appraiser do appraisals on all customers. They gave me the name of the company but they don't have a phone number or address so I can contact them.

Here is the kicker....I don't owe a penny on my equity line. I paid it off about a year ago. They had the nerve to send me a bill for $75 dollars for the equity line 3 days ago.

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