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

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


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-89

Go Gators


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-84

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


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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?

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-81

Wells Fargo is evil


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-85

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. 

 


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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?


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-46

I am being sued by WF on a HELOC in Florida. The interesting thing is that they are suing me based on breach of contract, unjust enrichment and account stated - not a a foreclosure. My understanding was always that a HELOC is like a huge credit card sitting on your house. If it was a straight foreclosure, I would be better equipped to handle the lawsuit. But since it is a HELOC and I unsure of the best way to defend.
The first lien holder has not sued me yet (but it is on the way) and I currently have the house listed for sale. if anyone has some advice on how to handle this, I would greatly appreciate it.


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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.


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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?


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