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It makes me mad to see (and experience) how those inside the system treat the rest of us. There got to be something we can do about them... only, without someone on your side with the resources of a Wells Fargo (or in my case City Mortgage) we have a long way to go. It would seem that the federal government would have something its citizens could call on.I built a mining operation on a leased parcel of land. Started it the project in 1998. I had the larger companies coming to me wanting me to either partner with them or sellout to them for they could control the materials which in turn they could control the road contracts. I declined their offers.Banks are getting way to far out of hand. How did Wells Fargo get into it? Was the loan sold to them?
By the spring of 2000 we had suffered vandalism to many things but the husband's big dozer was the worst it cost all of the last bit of cash to rebuild the engine in it. Also the land owners were suing me. A few years later I would here from one of the land owners how a DOT employee old friend of their family sat right at her kitchen table and told them if they would get me out of there then they (being the DOT guys) would bring in a big company and they could be making big money right away. Lot of details to it but that is the basic.
By the winter of 1999 I was deciding whether I would use the equipment my husband and I had found and traded for which would produce small amounts of material or buy large enough equipment that I could fill larger contracts with. The closest materials of this type to this area were more than seventy miles away. The needs of the area were much greater than I could produce with the small equipment so I started looking at all options including lease purchases and such. During all my research I talked to the DBE person at DOT, he wanted me to file for my woman own business status. I declined as it would not really make a difference because I would be the only supplier in the area but there was a $25,000.00 grant available if I decided to do that. During all this I also contacted the local development office. The guy asked if he could bring a banker down to meet me. That was a Wells Fargo banker. He made an SBA loan sound good and claimed they would be willing to loan up to two million dollars to me as a woman owned entity for this business. One of the requirements Wells Fargo made was that I incorporate the business to separate assets. And I did.
By September 2000 the loan was final for five hundred some odd thousand dollars. There were questions I had during all this so I called the SBA office. They directed me back to the bank. I had never borrowed money like this. Built a very large business on a pay as you go basis. The only credit I ever needed with that was a line of credit to get all my new payroll one month when I got a contract worth several hundred thousand dollars. Anyhow I'm thinking I'm safe borrowing this money because SBA has rules and regulations and with the federal government I'm safe. After all I had already been threatened, sued and we had an extreme amount of vandalism we had already dealt with. I asked the banker "How can they loan on blue sky?" He said, "That's what SBA loans are for".
That is the short of how they got involved. They shorted my working capital within the first three months of the loan. I would not see the altered documents until 2002 in court for a replevin trial. My first piece of production equipment came from the factory designed to fail, we would not discover that until 2002. Shortly after that discovering is when WF went after us. It would not be until years later we discovered that the internal parts used in that initial piece that came designed to fail from the factory used parts from a manufacturing company that was owned by the accounting ceo of Wells Fargo who also happened to retire in 2002 when the bank went after us.
Hello everybody. Instead of suffering in silence (because that is what I think they want me to do) I have decided to connect with people who have also forsaken silence. Things are not going to change until we change them... or at least try. I'm thinking that since the bank is trying to steal my house, I should try while I still have a place to plug in a computer.
It makes me mad to see (and experience) how those inside the system treat the rest of us. There got to be something we can do about them... only, without someone on your side with the resources of a Wells Fargo (or in my case City Mortgage) we have a long way to go. It would seem that the federal government would have something its citizens could call on.
That would have been better.Did you intend for your screenname to be "feed up"?
Or did you mean "fed up"?
Hello everybody. Instead of suffering in silence (because that is what I think they want me to do) I have decided to connect with people who have also forsaken silence. Things are not going to change until we change them... or at least try. I'm thinking that since the bank is trying to steal my house, I should try while I still have a place to plug in a computer.
The bank is trying to "steal" your house? My guess is the bank has no interest in your house so long as you're making your payments as agreed by you prior to purchasing your house (and don't owe the IRS any money, either).
It makes me mad to see (and experience) how those inside the system treat the rest of us. There got to be something we can do about them... only, without someone on your side with the resources of a Wells Fargo (or in my case City Mortgage) we have a long way to go. It would seem that the federal government would have something its citizens could call on.
Is there some kind of fraud or misrepresentation that was done in your mortgage? If so you should be able to call on your attorney general office. I know of a another case where the bank had literally alter the documents by adding a mortgage document to the loan papers after the original loan papers were signed. Since the papers were noted on by the signer and notorized as to exactly what was being signed the bank and it's attorney wanted to settle the matter before it went to trial and a non disclosured was signed. This was also done across state lines which would have made it a federal violation if the feds actually went after these frauds, I don't think they do in all cases though as there are way too many of them out there today. Banks here made it virtually impossible to sue the banks, they put many bankers or lawyers who work for bankers or other lawyers who own interest in banks in as judges in the courts. Bad deal most people are unaware of until it is too late.
