Select Page

WELLS FARGO: U.S. FORECLOSURE TOUR: Is It A Sham?

I snap out of my sick comic daydream realizing that there has got to be a point here I can make about this absurdity.  We’ll there is….. foreclosure is everywhere.

wells fargo foreclosure

by John G. Merna

You know things are bad when one of the big five mortgage companies, Wells Fargo, has to send in a crisis team to Virginia Beach to take over the Convention Center to assist homeowners with “Foreclosure Prevention”.

That’s what happened on August 23rd.

It is slightly laughable and probably just a show for the feds who sued and got a $26 billion settlement earlier this year against the big five mortgage lenders which include Bank of America, JP Morgan Chase, Wells Fargo, Citibank and Ally Financial.  Yes, that was $26 billion.

It is laughable because Wells Fargo would not have to truck 100’s of mortgage personnel at investors’ expense to take over Virginia Beach’s very large convention center if they had been more willing to work with the 10’s of thousands of borrowers who have tried unsuccessfully to modify their loans by telephone and mail.

Why did they rush here to make a big deal?, I asked the a fictitious Wells Fargo woman I was imagining in my mind as I thought about this absurdity.

“Oh, we are trying to help them,” said my fictitious Wells Fargo woman with a permanently glued on smile.

“We are trying to be more personal.”  Her smile got bigger. “What was the question? Oh! Why couldn’t we have just answered the borrowers call when they requested a loan modification, submitted the documentations three times or more and never got a call back before they received a notice of foreclosure sale?” she said taking a big breath.

“Well, I can’t answer that.  That’s a question for the Loss Mitigation department.  Let me give you their number. Here it is. Might be a short wait … 50 to 60 minutes… if you are lucky.  And they may lose your paper work….. repeatedly. (Still smiling big.) But stick with it. Oh, did I tell you I got a great hotel room right on the beach for this gig.  And they are paying me mucho per diem.  They said I need to just smile and (whispering) blame everything on the loss mitigation department.  Hee, hee.  (whispering again) I don’t even work in mortgage lending.  I’m a bank teller.  Shhhhh. Mums the word.  Great gig huh. We’ll you have a good day and come see us again at Wells Fargo if you need another home loan.”

I snap out of my sick comic daydream realizing that there has got to be a point here I can make about this absurdity.  We’ll there is….. foreclosure is everywhere.

Here is the schedule for these Well Fargo Foreclosure Prevention Events. Baltimore (Sept 6) –  Prince George’s County, MD (Sept 13) –  Atlanta (Sept 19 -20) – Charlotte (Oct 3) –  Jacksonville (Oct 10) –  Tampa (Oct 18) – Orlando (November 14) – Sarasota (November 29).

Not a very well-advertised event for such an important problem.  I found it in a postage size announcement.

“Did Wells Fargo customers in Portsmouth, Chesapeake, Norfolk, Newport News, Hampton, Suffolk, Yorktown, Williamsburg and other cities in the Hampton Roads area get notice of this event?” I ask my fictitious Wells Fargo Foreclosure Prevention woman as I slip back into my day dream.

“Well, I don’t know.  Advertising? That was the Loss Mitigation department’s job.  Let me give you their number. Here it is. Might be a short wait … 50 to 60 minutes… if you are lucky.  And they may lose your paper work….. repeatedly. (Still smiling big.) But stick with it. Oh, did you notice on the schedule we’ll be at Disneyland on November 14.  We put Orlando but we are all going to the Disney and Universal Studios.  Hee, hee.  It will be a blast. (Whispering) And we are going to leave a sign at the Orlando Convention Center that says ‘Thanks for coming.  Really want to help you prevent foreclosure.  Call the Loss Mitigation Department .” (wink) Do you think I’ll get hotel room at Disney? Wow, I can’t wait.”

FACING FORECLOSURE? CALL FOR A FREE BANKRUPTCY CONSULTATION OR SCHEDULE IT ONLINE BY CLICKING HERE.

Google+

REQUIRED BAR NOTICE: THESE TESTIMONIALS DO NOT GUARANTEE SIMILAR RESULTS.

 The Merna Law Group, Attorneys At Law, P.C. …kind and friendly from the start!5 Stars! “Everyone there was kind and friendly from the start and helped us with everything in a timely manner. They were never rude no matter how much we called or asked questions.” Reviewed by B.P. of Virginia Beach on Feb 20 . 
 The Merna Law Group, Attorneys At Law, P.C. Didn’t have to worry about anything!5 Stars! “Just keep providing the type of service you do. You business values are based off reliability and service. Today’s Law Offices just don’t offer that kind of experience. Didn’t have to worry about anything!!! Just being able to go on with my normal life and know that all my issues are well taken care of is a relief in itself.” Reviewed by A.P. of Virginia Beach on Mar 4 . 
 The Merna Law Group, Attorneys At Law, P.C. …overall experience was outstanding!5 Stars! “My husband and I were very happy with The Merna Law Firm. They are well organized, time manageable, and friendly. I was even able to bring my children with me if I needed to. In court, they stayed right there beside us and answered all questions we had. Our overall experience was outstanding and I am glad we were represented by the Merna Law Group.” Reviewed by A.M. of Suffolk on Mar 5 . 
 The Merna Law Group, Attorneys At Law, P.C. …debt free!5 Stars! “A friendly staff and outstanding attorney who helped me through a difficult time in my life. Thanks to everyone at the Merna Law Group who helped me move on to and new chapter in my life debt free!” Reviewed by M.F. of Norfolk on Mar 8 . 
 The Merna Law Group, Attorneys At Law, P.C. …very helpful and friendly!5 Stars! “Everyone at the office was very helpful and friendly. The attorney answered all of our questions and helped us through the entire process. He was also very helpful answering concerns that we had after the process was completed/over. Highly recommended!” Reviewed by M.E. of Virginia Beach on Mar 11 .