Posted on: 25th Sep, 2009 06:50 pm
I hAve a house in pa and have had a loan with wells Fargo since 99' in 03' I took out a second equity loan in 03' with what is now bank of America and in 05' I called wells to ask where to send my tax bill to since they wanted hardcopies and they told me that I can do a three step refy and get a lower rate so I did it now about six months or so I wanted to do the same thing and get a lower rate well it turns out that in 05' wells hired a company to do the subordination according to my settlement package along with a title company. The subordination company is having a tough time tracking this cause they changed systems since. The title company told me that the only one that the insurance protects is wells and can't understand why wells won't fix it. Wells is aware of there current Second position but won't "make the same mistake twice" I owe 75,000 to wells and 20,000 to b.o.a. B.o.a. Will not subordinate which I don't blame them and I'm not interested in consolidating both loans together Due to me working on my house I was just trying to do a responsible thing in a bad economy and some feel that I should not be left responsible for wells or who they hired to do the job? So far nobody has ever even heard of a scenario like this or what to do about it?
The consumer is not responsible forthe mistake done by a bank or a company
mistake done is fine but check with lender for further proceedings.
i'm puzzled about what the real question is here...is it the tax bill that's the main issue, surrounded by bumbling on the mortgagee's part?
