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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 116768
Experience:  Attorney experienced in commercial litigation.
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We had a loan with Wells Fargo Mortgage years. The original

Customer Question

We had a loan with Wells Fargo Mortgage for 13 years. The original loan amount was $199,999.00 and we just refinanced our loan. After 13 years of payments the payoff amount was $198.634.00. I'm a 100% disabled U.S. Army Veteran whom was very sick at the time I was unable to pay my mortgage as I was told by my Dr. if I continued to work I would die. When I received my back pay I paid Wells Fargo over $100,000.00 to keep my home. With numerous property inspection fees, costs for attorney fees and charging me for fees when they paid on my account from the suspense funds. I have 4 different Customer Account Activity Statements, but each one has different transaction fees and amounts I paid into my account. I received a letter from the IRS about the amounts I was paying into the Interest on my loan as I had paid over $50.000.00 over 4 years time period. I have been feeling better and more able to handle my financial issues. That's when I asked for our loan payment history and did it open my eyes to how mush Wells Fargo had ripped us off. One statement didn't have some payments ($76,000.00) and all the payments made from the money paid in didn't lower my principal, I was charged fees for paying my loan from the Funds held for disbursement.
The list of false or unknown ways to rip off a disabled veteran continue through out all the Activity Statement. Can you help me out or give me advice on what is legal to charge and where do I go from here.
Steven S. Wood
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
The only fees they can charge you are those outlined in your mortgage agreement that you signed. So your first step here is get that mortgage contract and you need to review that to determine the fees. Second, this bank is famous for over charging, but it requires you doing a forensic loan audit to get to the bottom of this, it is not something we can do online, it is something you need to engage a local consumer protection law attorney to go through the statements line by line to determine where their entitlement to the charges comes from and to determine if they even had such entitlement. This bank hates when customers get a forensic audit of their loan done, because invariably they are found at fault and if you find fault you can sue them for unfair and deceptive business practices and seek up to triple damages plus attorney's fees from them for their violations.

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