wells fargo 3 step

joe_mnJune 15, 2011

did the WF 3 step easy refi last summer. rates kept dropping over summer. called WF in sept and they said i could do the 3 step again after 1 year. called last week and they said, nope. cannot do it again. seems it is now tied into the asset recovery, make home affordable program. or something to that affect. i may have not heard clearly what was said but i am darn sure about the 1 year waiting period. anyone else here have any info on the WF 3 step deal?

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sushipup1

It's the Golden Rule. Them with the Gold make the rules, and can change the rules, as well. And it looks like whatever rule was in place last year is no longer valid. Unless someone put it in writing last year, you're out of luck, obviously.

    Bookmark   June 15, 2011 at 7:58PM
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joe_mn

1st loan specialist (ha-ha) said nope, nothing has changed. supervisor, yea right, probably just a coworker actually admitted it had changed. seems WF was getting fed money for any loans being modified. even the folks with current loans with good payment history like myself. of course i can refi on my own now, and pay all fees. its just the lying that sucks. WF could just say, yes 1 year ago we did have a 1yr waiting period but now the program has changed and you can do it only once. so piss me off with made up stories or tell me the truth.

    Bookmark   June 16, 2011 at 11:22AM
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Billl

If you don't like the way they do business, refi with someone else. There are some amazing deals out there right now.

    Bookmark   June 16, 2011 at 12:00PM
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joe_mn

the whole banking/home loan industry is in an uproar. so many defaults. many cases of fraud. crazy home values dropping like a rock. last year bank said in 1 yr you can do this. turns out things changed. nothing was promised to me. only made aware that in the future i could do it again.

    Bookmark   June 22, 2011 at 4:30PM
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