PaigeAMJ Posted March 16, 2007 Report Posted March 16, 2007 I got a refi done through Wells Fargo for 10%! I was with Capital One for 17% and of course they would't lower it. I also triedPatelco - denied because I have 2 car loans (was only trying to refi one though)USECU - denied because of the # of inq. (been a member for 10 years)Wachovia - denied w/ no reasonI'm thinking about making them my sole bank and getting a cc w/ them. Oh, they only pulled TU and my score was a 672 w/ no derogs.
Guest Gary Craig Posted March 16, 2007 Report Posted March 16, 2007 PaigeI refinanced my mortgage getting a (one loan) 4.875% fix 20yr almost 5 years ago, so far Wells Fargo is a good bank.......
PaigeAMJ Posted March 16, 2007 Author Report Posted March 16, 2007 Wow! 4.875?! Those were the good ole' days!I would've never thought of them! The LO said that I would get a rate deduction every 8 months with good payment history. This wowed me...
mcck Posted March 16, 2007 Report Posted March 16, 2007 Did you get it in writing about the 8 month good behavior rate reduction?I refied with them few years ago and since I was an idiot and not knowlegeable at all, with 720 scores I was stuck a 3 year prepayment penalty and I did not bat an eye. Received an equity line cc and a regular cc.Long story short, after I missed couple of payments they wanted to foreclose on the equity line cc ( my wife lost her job, we were overextended with cc debt) even though I never missed a mortgage payment with them. I ended up going to a subprime lender to get away from these people and their foreclosure proceedings.Just keep your eyes open. Maybe I fell in the wrong store front office of Wells Fargo.
PaigeAMJ Posted March 16, 2007 Author Report Posted March 16, 2007 I'm sorry to hear that.No, I didn't get it in writing. The rep that approved me (on the phone) told me that and gave me his direct number.I just left the store front and they said that they dont deal with the changes there. I got approved for a cc and I also wanted to start the mortgage process but he said I am ineligible because of my scores (734 but they were just at 649 on Friday) so I would have to go directly to Wells Fargo (which just called me).
Guest Gary Craig Posted March 17, 2007 Report Posted March 17, 2007 get it in writing..a rate deduction every 8 months....Really... - get that in writing. You should ask is this an adjustable loan? I feel the LO knew you didn't know what he was talking about. Never the less - Wells Fargo is a strong bank that if you keep up on the payments, you shouldn't have any problem with them.
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