Wells Fargo Property Loss |
| United States |
|
|
Consumer reviews about Wells Fargo Property Loss |
|
lwabshire20
|
Dec 14, 2011
|
Wells Fargo Holds Insurance Repair Checks Hostage
Same situation in Lafayette, LA. I'm ready to file a lawsuit just not sure how to go about this. They have basically stole money from me. If anyone knows how to file lawsuit please advise.
|
|
Pissed off in Denver
|
Dec 15, 2011
|
Wells Fargo Holds Insurance Repair Checks Hostage
Try Merrill Davidoff in Philadelphia, PA. He's a ass-ripping attorney that has a big firm that has specialized in class actions. BTW: Our contractor Kyle at WIMMER Roofing (a wonderful company that does good work BTW) told us the EXACTOMATE company program that has been used by insurance companies AND the contractors for a fair pricing on materials for claims has just been purchased by a huge insurance company (All State or State Farm), who can now low ball the costs so the contractors are really screwed even worse than they are now. Sounds like rackateering, but now its known as banking. Way to go SEC!
|
|
jpower802
|
Dec 15, 2011
|
Wells Fargo Holds Insurance Repair Checks Hostage
We are in the same boat. Hail damage to our roof & the insurance check is a measly $1k over their $15k limit. Sent in a request for exception on Monday the 5th & was told by the agent at our local WF office to call the 888 number the very next day & start questioning. I did & the lies started immediately... We haven't received it, oh we have it now & it will be reviewed / processed within 48 hours, sorry the 'management team' hasn't given us a response, there's a 5 business day maximum response time & tomorrow is the 5th day, I know it's the sixth business day sir, but management still hasn't answered & there's no one else who can help you...it goes on & on & on. I justs called my local WF office & spoke with the "mortgage specialist" who signed me up & gave him an earfull. He fell all over himself apologizing & said he would start making the phone calls to get me some help. I told him if they don't agree to it by end of business today, I'm taking my business elsewhere (as if WF gives a shit). If 15k is the limit, they should cut me a check for 15k & hold the 1k until the job is complete. This is utter & complete bullshit, WF is holding me & my money hostage. The "specialist" I spoke with on Friday of last week had the audacity to say, & I'm quoting, "sir, we do not have possesion of your funds." I replied with, you most certainly do...the moment you refused to sign MY check, you took possesion of that money. To which she was silent. I will check with my lawyer today about a class action suit & post his response as soon as I get one. I've decided that no matter the outcome I'm taking my business elsewhere. It won't put WF out of business, but I'll feel better.
|
|
go2help
|
Dec 24, 2011
|
Wells Fargo Holds Insurance Repair Checks Hostage
We are in the middle of the Wells Fargo ugly experience now.
Recevied 16K+ from insurance within days, late Sept. Now almost 90-days later, contractor has been paid one third from Wells Fargo, 100% of the roof is complete, waiting for inspection and final payment.
Now, I have received another check from insurance company, 10K, the remaining monies from claim, but have yet to send it to Wells Faro. I am holding it for a few days, weighing my options.
Any suggestions out there?
When we first received the 16K check, we tried to deposit it, get a Wells Fargo bank to endorse it, could not, directed to the Property Loss Dept. If I remember, I believe I was told the threshold was 10K.
I guess we could try again with the 10K check, see if we can deposit it this time.
And then another issue. Only a part of this 10K check goes to the rooking contractor. The remaining amount is mine. If I have to send it on to WF property loss dept, how am I ever going to get the remaining balance?
|
|
Hurricane Irene Victim
|
Dec 27, 2011
|
Wells Fargo Holds Insurance Repair Checks Hostage
I'm in the same situation as all of you, Wells Fargo is holding my flood loss checks hostage and I'm out of money for repairs. My loss was suffered on 8/28/11 (hurricane irene), and 4 months later I'm not even 50% of the way finished because I'm doing a lot of the work myself due to lack of funds from WF. The only reason I got my starter check endorsed was because I went to ABC news and they did a piece on my story, once the news started calling Wells Fargo they signed that check pretty quick.
Class action suit? I'm in 100%, contact me ([email protected]) and we can discuss, this company is a joke and they need to be held responsible. BTW anyone wanna let me borrow 35k to finish repairs?
|
|
Hurricane Irene Victim
|
Dec 27, 2011
|
Wells Fargo Holds Insurance Repair Checks Hostage
There are 4 requirements to proceed with a class action.
1. Numerosity - enough plaintiffs to make class action an efficeint way to handle the claim.
2. Commonality - common issues of fact and law for each claimant
3. Adequacy of Class Rep - the person who is the class representatitve needs to have claims that are the same as the class members and that they are capable of serving as the representative.
4. Adequqcy of Counsel - that the law firm representing the class has sufficient skill and resources to represent the class.
I believe we meet the general requirements. What is the endgame though? What is our actual claim? If in the end we actaully got our money what are we claiming that wells fargo owes us besides an apology?
|
|
jacque Neal
|
Jan 5, 2012
|
Wells Fargo Holds Insurance Repair Checks Hostage
We are in favor of a class action suit against Wells Fargo! Our insurance company issued a check to us for $30, 000.00 in June 2011, after a big hailstorm. We needed new roofing of house, garage, barn & out-buildings. We have our mortgage payments auto paid, out of checking, never missed a payment, ect. We hired a local, trustworthy, roofer, who had all the work done in Sept., and we still haven't been able to pay him, as Wells Fargo has had numerous reasons for holding our money! I would like to just have the interest that $30, 000.00 would have accrued in our savings for the last 6 months! After 15 yrs. with WF, we are going to someone else for the remainder of our mortgage payments.
|
|
Beccatx02
|
Jan 6, 2012
|
Wells Fargo Holds Insurance Repair Checks Hostage
We had a water leak in our home in Aug of 2011. We are now in January of 2012 and I can not get Wells Fargo to release ANYTHING past the initial 1/3 of our check. Our claim was over 15k, so we had to send it in to the property loss division. This has been a NIGHTMARE. They told us it would take 1-2 business days to review all of the paid reciepts and order a check. The processing of the check takes another 1-3 business days. Well on business day 7, NOTHING had been done. Everytime we try to send them what they ask for its like it goes into a black hole. Not only are they RUDE as hell on the phone, they are full of misinformation. This is UNACCEPTABLE. We have a mutli-year mutli-level relationship with Wells Fargo and will absolutely take our business else where after this is finally done.
|
|
Robert Combest
|
Jan 23, 2012
|
Wells Fargo Holds Insurance Repair Checks Hostage
I have had same problems as all. They are HOLDING MY money and since the process takes so long, my contractor has moved on to other jobs that the people could pay.
Now almost ONE YEARlater I have my roofer waiting on me to tell them when I have the money to pay. And Wells Fargo says ok, turn in an exception, wait 2-5 days, let us review it then send it to so and so (another 3-5 days). Its riduclous!!!
Its MY House and MY money and THEY are holding up my repairs!!!
|
|
Daniel in Houston
|
Feb 14, 2012
|
Wells Fargo Holds Insurance Repair Checks Hostage
I totally agree. I've just started dealing with them. I sent them all the paperwork they needed and even the "privileged" court docs and still they are not satisfied. They keep losing documents and requiring paperwork that they shouldn't be seeing. All they should care about is that the damage is repaired. Reading all these comments I see this is going to be a major fight with them. I for one, I'm going to seek refinancing with a local credit union.
|
|
novots
|
Feb 25, 2012
|
Wells Fargo Holds Insurance Repair Checks Hostage
I like the others on this post have had nothing but questions regarding the nerve of Wells Fargo being able to hold on to money that I should be controlling for my own repairs. I recently had a claim for roof damage in the amount of $18, 100.00 sure enough the adjuster made the check out to myself and Wells Fargo, first question, , why? since when does the Mortgage company have to be involved at all? Next question, I have a $395K mortgage with these yahoos and they trust me with that amount, they trust me to make my payments every month but they don't trust me to take $18K and make the roof repairs on my own??please, something is definitely wrong with this picture. They say they will not endorse it unless I follow their rules and fill out all this crazy ass paperwork allowing them to basically put that money in an escrow account and then as the work gets done, they will make partial payments!!! wrong, I swear if I have to I'll refinance just for this reason alone to get rid of these guys. It is ridiculous that they need to control every step of this process. Don't get me wrong, I know there are people out there that would go out and spend this check on something other than the main purpose but that is exactly why Adjusters give you a ACV( Actual Cash Value) check and then once the work is completed you get the RCV(Replacement Cash Value) . This entire system is messed up to say the least. As I mentioned I am now looking at the possibility of getting rid of this loan. Not that losing one little loan for $395K will impact WFM, but maybe if half of these people who posted on here did the same, then they may just get the picture and finally realize they have a system in place that is broken and needs repair and fast!!!
|
|
Les/Pat
|
Feb 25, 2012
|
Wells Fargo Holds Insurance Repair Checks Hostage
Our loss was covered by two separate checks from our insurance company. The first for 14851.42 which I was able to get Wells Fargo to sign off as theey were also listed on the Pay To Line. Great... then the second check for 7536.30 was issued. I like a dummy ran back to the bank to get it released also. Not so fast. The total was now over their imposed 15000 dollar limit and we needed to get the Property loss section from Ohio involved. This was back on the 12th of Dec 2011. Originally we were told just a few simple routine checks of all the paper work and they would allow an okay to process this check within 5 days. This check included payment for the mitigation company for their work. We were then told back that all work had to be completed and an inspection had to be done by a assigned individual. Since the clean up company would like their 4304.52 I had our insurance company reissue the amount in 2 checks, one for that payment and the other for 3357.77 for us. Here it is 24 Feb 2012 and our work is completed and we tried again to get the okay. OOPS, more paper work is needed. Going to close acounts and refinance when and if this is ever completed.
|
|
mecarter
|
Feb 27, 2012
|
Wells Fargo Holds Insurance Repair Checks Hostage
I too am frustrated with Wells Fargo. They are going to hold my insurance disbursement hostage until repairs are completed and until they can do a final inspection!! I'm going to be forced to pay for the water damage repairs out of pocket and fortunately selling the house in a week. I will then present closing documents and demand an endorsement of the check. My new loan is NOT with Wells Fargo. As the principal of a successful real estate team, I always deter buyers from seeking a Wells Fargo Mortgage. I now have first-hand knowledge of their ineptitude.
|
|
Meldevelopment
|
Mar 5, 2013
|
Wells Fargo Checks Held Hostage
I had a total loss to my home by fire. The insurance company paid out our claim and Wells fargo has held the money hostage. We are trying to rebuild our home and have had no choice but to self finance it at this point. My story is the same as all the other! They give you every excuse as to why they won't release the funds and blah blah blah. They are now telling me that they will not release our money unless we agree to sign a hold harmless (an agreement not to sue them for their actions). If that's not extortion I don't know what is. Loosing my house, possessions, and animals was apparently not enough pain and anguish for Wells Fargo so they have decided to try and ruin me financially I guess. I have cashed in almost $200,000.00 in stock just to get construction started. We have been requesting inspections since September of 2012 both via phone as directed and in writing. We have been ignored and told countless times that we didn't send them paperwork but when I give tracking#'s and fax confirmations they all of a sudden find it but then have some other excuse as to why they will not release funds. I really hope someone starts a lawsuit against them. It is criminal what they are doing to people.
|
|
tlp0610
|
Mar 25, 2013
|
Wells Fargo Checks Held Hostage
In late January, we had a pipe burst underneath the flooring in our home. The insurance company (MetLife) has been absolutely wonderful. They helped us move out and made sure we received our checks within a week so the work could get qwork started. A lot of good that did - similar to the stories above, Wells Fargo is holding our checks. A little bit of background is in order here. We have lived in our home for 25 years and for most of those 25 years, Wells Fargo has been our lender. We have never been late on a payment and have over $1 Million in equity in our home and less than 10% of the home's value left to pay on the mortgage. We also have our checking, savings and a credit account at the bank, Despite all these facts, the bank is holding on fast to our insurance checks. At this point, we are out of pocket almost $20,000 because contractors insist on getting paid when the work is completed (of course!) and we had to order the flooring materials. There is absolutely no valid reason for the bank to hold these funds. There is zero risk to the bank with respect to the loan collateral. We have also called numerous times only to be told different stories and have someon say "I'm sorry" but take no action. I suggest we all write to our congressman/woman to have legislation passed which would outlaw this practice. It is unconscionable.
|
|
[email protected]
|
Jul 19, 2015
|
They paid my contractor 80% of the fund
I loss my entire home almost two years ago.I hired a contractor to protect myself from any harm due to making a mistake,seeing that this is the largest loss of my life.Everything was put into writing and submitted in writing for WF.They sent out their own inspectors for progress reports before writing another draw to the contractor.Last December I was told we were at a progress of 52% and more fund were released.Work completely stopped all winter long.At this point I went to my attorney and we sent registered mail for breach of contract.I asked for my home to be re-inspected and the progress when down to a 40% completions rate.I tried to fire my contractor and Wells Fargo said I could not be released.When I asked why not they said I was still under contract with the contractor who had not done any work in almost five months.I did what Wells Fargo said I needed to do ( which was send more registered mail) and sign and notarized to self contract and sent back to them.Then they claimed because the contractor signed for the mail I was still stuck with him.Finally I had the city inspectors come out and give there reports and plumbing fail,electric failed ,framing failed,and I faxed off the information to Wells Fargo and emailed it to them as well.I emailed and asked for another inspection two weeks ago and no report has been posted.I asked why has 80% OF THE FUNDS HAS BEEN SENT? Wells Fargo said I asked for the fund to be released(NO),then they said maybe it's the inspectors are incorrect.I stated the how could the city inspectors be wrong? At last there is only the last draw left and it is not even close to the amount to complete me home.I also want to state I have never missed and payment in 8 years.Heart broken,where do I turn?
|
|
Tenderhealer
|
Jan 28, 2016
|
Wells Fargo holds property loss check
Wells Fargo has had a check for $11300. Dollars in their possession for repairing a badly damaged roof since October 2015. All paper work was sent overnight to release the funds. Their employee signed for it; at first they denied ever receiving it, then they confirmed receipt. Now they don't have the documents. I'm going back and forth with them. I finally made a request to have them review the phone conversations we've had at least from December. It is now The 28th of January 2016. They are still attempting to find the documents.
I'm bewildered and exhausted.
|
|
thecleverwind
|
Mar 14, 2016
|
Payment Held Hostage & Now, Latest is a Hold Harmless Agreement to Obtain Remainder of Funds - Too Ambiguous, Too Much Liability
We have dealt with WF Prop Loss for a few years now as we've endeavored to complete our own repairs after an insurance claim came in over $15k. We live where professional assistance is not an option.
We have used our own funds for materials and our own labor almost exclusively for this repair, and part of the reason its taken so long is resources. We've received a few payments from WF out of our own insurance reward (paid by the insurance company we pay premiums to have the benefit of relying upon) and have a lump sum remaining, for which we are now apparently eligible, but must sign their release agreement presumably, prior to receiving this final payment, which we have shown we've already spent personal funds in advance for this project, therefore this final sum is, in effect, reimbursement of our own money.
Here is the context of the agreement we've been asked to sign:
I/We______________ & _______, shall indemnify and hold harmless Wells Fargo Home Mortgage and any of its officers and employees from and against actual or threatened action, suit or proceeding and against any and all: claims, expenses, losses, or damages (including reasonable attorneys’ fees) arising out of or as a result of the actual and/or alleged breach of the repair. Also, I will be responsible for paying any liens that might arise for repairing my property located at the following address:
I'm hesitant to sign, irritated beyond that they've kept all the money from us for as long as they have, and just thankful I have enough personal resources to, in advance, repair my own home while awaiting the money our insurance company provided to assist with these major repairs in 2011.
|
|
ARENAS01
|
Jul 22, 2017
|
FUNDS UNCLAIMED
LOOS MY PROPERTY IN 2016 AUGUST AND HAVE 170,000 ITS MONEY IS MY
|
|
Disgust2014
|
Oct 12, 2018
|
Property Loss Dept: Holding over $38,000.00 Hostage...House Up For Sherriff's Sale
This has been a Battle for Almost 5 yrs.
Jan. 2014: Burst Pipe damages 1st floor and finished furnished basement of my home.
Feb. 2014: funds released from Homeowners Ins. Company and signed over to Wells Fargo Property Loss Dept.
Jan-May 2014: battle to get funds released to Preservation Company for work completed. Finally released balance due in late May 2014( work completed in late Jan/early Feb. of 2014.
My home has yet to be repaired. Loss Property said that funds were released to my Contractor but had not. My Contractor pulled out of project and sent my Lawyer a letter of DISGUST regarding the treatment of me, the homeowner.
2017 began working with a local Wells Fargo Personnel Banker who explained the horrible business practices of the inner structure of the company. For a whole year; he as well got the run around. My home is now in its 2nd time of Foreclosure & Sherriff's Sale. There has been an Investigation from someone in the Customer and Recovery Group but only one sided as you can guess!
Yes, forms that disappear, hundreds of representatives that contact you and you tell your story to a hundred times over because Deptartments aren't Allowed to share your Information; Recorded Conversation that have to be subpoenaed, ECT.
I have no money like most of you who can get your repairs completed on you own with the hopes of reimbursements. I am a BLESSED HOMELESS PERSON one who is also ANGRY! Can we fight this entity through a Class Action Suite!?
|
|
Previous 1 Next |
|
|
