WELL FARGO HOME MORTGAGE WFHM RENOVATION Open Letter to WELLS FARGO for sending my loan for DENIAL 5 months into the process, and 3 days before closing. This is no way to treat a Veteran. Lake Mary Florida

Open Letter to WELLS FARGO for sending my loan for DENIAL 5 months into the process, and 3 days before closing. This is no way to treat a Veteran.

Thank you Wells Fargo, for ruining my life.  On Monday February 17, 2014 you told me I would be closing on Friday on my Wells Fargo Home Renovation Loan.  It was a blessing in disguise; I made it all the way through the lengthy process.  I called my mother, "mom, I am going to be closing on my birthday February 21, 2014."

 I have been looking forward to this day, long before you qualified me and gave me my Well Fargo Loan Commitment paper in September 2013 in my hand.  I found a Fannie Mae foreclosure listed on the Homepath Website, a portal designed for first time home buyers like myself.  Since I already had 3 bank accounts with Wells Fargo, I figured why not place my loan with a bank that I have been with since 1993.  I gave you everything you asked me for and cleared every condition one by one. 

On Tuesday February 18, 2014 you repeatedly asked me why did I have a judgment on my credit from 2003, even though I gave you and your underwriter proof 3 times that the judgment has been paid with a copy of the satisfaction letter from the creditor with the stamp on it from the high court in Trenton, New Jersey proving it was cleared since 2012.  After the persistent badgering, I figured why not just be honest and tell you the truth of what really happened so we can get on with the process.  I know it may have been odd to have a 745 FICO score, and have this on my credit. 

I told you, "the judgment may have only been removed from one or two of the credit bureaus and not all 3.  After graduating from college and after losing my job on Wall Street in January of 2002 during the crisis, I went to federal jail for a period of time.  So, my bill went unpaid and that's the reason why I received a judgment on my credit from the debt collector company that assumed the debt".  You apologized for making me have to tell you this, but I figured you are just doing your job.

On Wednesday February 19, 2014 you called me to tell me that the File is being submitted for DENIAL. Really...???  5 months into the process making it 3 days from achieving the American Dream and you are canceling my loan just like that.  You add in that my American Express account went up 5% so unfortunately I do not qualify any longer because my debt ratio is now too high.  Most people's credit cards go up a little bit after the holidays; I have a child, family and a girlfriend.  You wait this long into the process to tell me this?

I did everything you asked for.  I paid $1,500 to the title company; I gave you $600 for an appraisal. I got inspections totaling over $500.  I got an insurance policy totaling $1,500.  I did every single thing you asked for and to just cancel my loan in the blink of an eye is unfair to me and my family.  I have never been late on my rental history.  I have never been late on any credit cards.  I make $45,000/year, I know that I do not make a lot of money now, but are you telling me I do not qualify for a $100,000 house?  I have over $10,000 in your Wells Fargo bank accounts alone.  I know I am only 1 person in the millions of customers you have, but why didn't you offer me options or give me an alternative solution? I haven't heard back from you, because I guess you're just onto the next.

My only assumption is that I have a conviction on my record and I told you about it.  Being pragmatic, I thought I paid my debt to society and I could move on with my life.  I am just living my life as an ordinary Joe, all I was trying to do was get to the next level in life.  Instead of being a proud homeowner today on my birthday, I am waking up again at 5:30am to this pounding migraine headache that I have ever since you crushed my world.  I want you to know that I am truly saddened and I feel devastated and I have held off crying until now.  I am grown man, but I am truly crying as I end this letter to you. Thank you