Wells Fargo sold my friends house……and she did not know it


It sounds wrong, but its true, my friend just found out that her mortgage was sold by Wells Fargo on July 2nd, and she just found out through her attorney yesterday.  In the nut shell she felt behind on her mortgage because bank paid her taxes out of her payments instead of applying them to the loan, that created delinquency and 3 months later started foreclose process. She had been informed that she owed the bank $7K by Friday, which she paid, but bank did not processed her payment till Monday, which became a late payment.  After that she talk to the bank and thought it was all sorted out till two weeks ago that bank told her again that she is late.  And at that point bank already sold the house.  She hired the attorney and it took him a week to find out that the deed was sold to somebody.  She has 2 years left to pay on her house.

It makes me wonder how heartless our corporations became.  They don’t post on time and its the consumer fault that they pay fully for.  How she suppose to fight big bank, without a face, somewhere out there?  I understand that there are things that she probably did not do on time or what not, but overall she did what bank demanded, and still lost her house.  Is it the banks way to recoup their loses? Is it what they do to get their financials look better?  They made a profit on the house of at least $100K plus the interest that she paid through all the years.  And all this time she paid her mortgage and they took it.  So much for the American dream. 

I so hope that her attorney will get her out of this mess, and the lesson from this is watch your statements from every company like a hawk because they will take everything you have and then some.  You can’t trust any of the companies you are dealing with-mortgage, utilities, cable, etc. And in this world of technology everything processed so much faster, that we really don’t have the safety net of time that we used to in the last century.