Has anyone settled or been sued for Wells Fargo HELOC?

This is my last one to deal with. Has anyone settled or been sued for Wells Fargo HELOC? Anybody with a Wells HELOC that has been charged off, please let me know anything you can. Mine was charged off today.

13 Answers

Wells Fargo is horible on settling 2nd mortgages. they want 75% of balance or bankruptcy. I know because that is what they offered us.

Go Gators

Please check loansafe.org for advice. Lots of good article for setteling HELOC 


Help! I live in MI. My HELOC went into default with BOA at $56k and then sold to 
Greentree (GT) in 2010. I immediately wrote GT and told them not to call me only 
write. I never heard nothing from GT and had a "paid charged off" by GT on my 
credit report. I am now being sued by GT thru a MI lawyer for $50k. What should 
I do? How much do you think GT will settle for with lump sum payment?

Wells Fargo is evil

You should pay it off.  You use the money to live high on the hog and now its time to slaughter the pig and pay back the piper. 


I reecived a default notice from B of A on my HOLOC loan and my first is upside down by 50,000 but the payments or current. I have ask for a modification but most of my friends say I should due a chapter 13 or try and settle with the bank for 5% (which will be $8,250) since I owe $165000 but I only have $4,000 what should I do?

Well, if Wells Fargo decides they can sue you for the amount and if you want to avoid that you may wish to make a settlement proposal to them.

Have WF HELOC only, no first. Found they waited 2 years (ask for 3 years straight) to lower my interest only loan to the Index. Finally, cut payment amount in half. But, will not refund overcharge for the 2 year that they could have reduced the amount. Any similar activity?

Well, I was able to settle this HELOC. It was shortly after charge off. They offered me 60% by mail. I countered with 10 and settled about 20%. This causes me to believe that since you are now in litigation they will settle with you. This is why I settled...the fear of lawsuit. btw, my settlement was strung out over about 7 months.


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