Courtesy Calls from Wells Fargo aka Shitheads

[Anonymous]

Anonymous wrote:
The simple loan poster is just not even worth adressing, hopefully everyone here who is responsible for a mortgage payment understands, at the very least, that it is not a simple loan. This was a comcept introduced in high school.

Except that it wasn't introduced in high school for many people. I'm the poster you say gets it, and I'm also the 2nd poster with a Wells Fargo loan who pays them on the 15th (so I can earn interest on the cash) but I've never been called by them.

We need financial education in the schools. DD can take the derivative of a log (useful for calculations involving compounding) but I don't think anyone at her school has taught the difference between simple and compound interest. Schools are too busy I guess.

[Anonymous]

we had this issue with a BOA's green tree finance PIECE OF SHIT COMPANY. I let them know and made them document my file that I pay on the 7th within the 15 day grace period and they stopped calling. The stupidest shit is that they mail out my next statement before the 7th and it always says past due payment.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
The simple loan poster is just not even worth adressing, hopefully everyone here who is responsible for a mortgage payment understands, at the very least, that it is not a simple loan. This was a comcept introduced in high school.

Except that it wasn't introduced in high school for many people. I'm the poster you say gets it, and I'm also the 2nd poster with a Wells Fargo loan who pays them on the 15th (so I can earn interest on the cash) but I've never been called by them.

We need financial education in the schools. DD can take the derivative of a log (useful for calculations involving compounding) but I don't think anyone at her school has taught the difference between simple and compound interest. Schools are too busy I guess.

OK, lets take education out of the picture and insert <common sense>. When one is taking a loan out for a roof over their head and spending 100s of thousands of dollars, why do they not take the time to understand what kind of loan they have entered into?? I'm wondering how many of these people took out 2nd trusts that have a balloon payment and have.no.clue. that it balloons in 10-15 years. I bet this was extrememly common for loans given out pre-2009. It is scary that DCUM represent a highly educated demographic, but yet the comments on this thread are astonishing.

I remember in high school taking a half of a year of personal finance. We even had to create and track a fictional stock portfolio with a 10K investment. I attended public school.

[Anonymous]

It's pretty clear some of these posters did try to educate themselves and they now *think* they understand their mortgages. Sometimes there's no substitute for a teacher.

Also, bad things happen when pushy mortgage brokers help "educate" you about how great that balloon mortgage will work for you.

[Anonymous]

Anonymous wrote:OP, I'm sort of enjoying the image of Wells Fargo harassing you, because you seem like a bit of an obnoxious jerk yourself, what with the gratuitous cursing in your title and some of your posts here.

That said, we have a mortgage with Wells Fargo, we usually pay on the 14th or 15th, and we have never, ever received a single phone call from them. Somebody who knows a lot about the mortgage business once told me, why let them earn interest on your money for two weeks (between the 1st and the 15th), when you can earn this interest on your money for two weeks.

I wonder, OP, do you have a bad credit record or something that is making Wells Fargo nervous? As I say, they've never bothered us for paying on the 15th.

OP: Well, aren't you special... We had two mortgages with Wells Fargo. One on a second, vacation home which we've had for 15+ years and always paid on the 15th and NEVER got these calls like you. The mortgage we kept getting reminders for is for a home purchased in 2009. Anyway, we no longer get these calls. Refi'd it with another bank. Easy solution and saved us money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, I'm sort of enjoying the image of Wells Fargo harassing you, because you seem like a bit of an obnoxious jerk yourself, what with the gratuitous cursing in your title and some of your posts here.

That said, we have a mortgage with Wells Fargo, we usually pay on the 14th or 15th, and we have never, ever received a single phone call from them. Somebody who knows a lot about the mortgage business once told me, why let them earn interest on your money for two weeks (between the 1st and the 15th), when you can earn this interest on your money for two weeks.

I wonder, OP, do you have a bad credit record or something that is making Wells Fargo nervous? As I say, they've never bothered us for paying on the 15th.

OP: Well, aren't you special... We had two mortgages with Wells Fargo. One on a second, vacation home which we've had for 15+ years and always paid on the 15th and NEVER got these calls like you. The mortgage we kept getting reminders for is for a home purchased in 2009. Anyway, we no longer get these calls. Refi'd it with another bank. Easy solution and saved us money.

OP, here's a tip: avoid the gratuitous, pimply-teenage-boy-sounding cursing, and you won't be such an easy target for snark.

[Anonymous]

Anonymous wrote:

OP, here's a tip: avoid the gratuitous, pimply-teenage-boy-sounding cursing, and you won't be such an easy target for snark.

Here's a tip: Avoid the stupid, air-headed add nothing to the discussion snark.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

OP, here's a tip: avoid the gratuitous, pimply-teenage-boy-sounding cursing, and you won't be such an easy target for snark.

Here's a tip: Avoid the stupid, air-headed add nothing to the discussion snark.

Lame

[Anonymous]

I had the same issue with those guys! And for the quick to judge people on here... Just because someone needs the grace period doesn't mean they can't afford their house! Our pay period is bi-weekly & falls on random calendar days. You people are harsh! Also if you call to pay by phone Wells Fargo answers the phone "this is an attempt to collect a debt, do you agree?" I'm like "I called you!"

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Aren't you accruing more interest when you pay late? I think on mine the balance between principal and interest changes depending on the date of payment. This is why some people actually pay 2x/month rather than once. So you can do what you want but be aware that it is costing you money in the long run.

18:19 again - Now that is a useful question, pp - unlike the ridiculously moralistic post that I was responding to earlier. I don't know the answer but I'll certainly investigate it.

And if it is the case, why are the banks so stupid as to not mention this when they call to nag about payments while still in the grace period? During that brief time when WF did call me we kept arguing about whether the payment was overdue or not. Seems like a foolish strategy to me. BTW I should add, PEPCO does call me during the grace period. DC Water doesn't call me during the grace period. American Express doesn't call me during the grace period. If they can't handle grace periods, they shouldn't offer them.

You sure do have a problem paying bills by the due date!!

To reiterate, credit score = 804.

[Anonymous]

Anonymous wrote:Yeah...a grace period doesn't mean you don't have to pay it on time...just in a very hard spot that they wont charge you more money. It still effects your credit btw.

Why did you get a mortgage you couldn't afford?!

I've seen no evidence whatsoever that this is true, I have often paid mortgage bills within 3-4 days of due date in the grace period for more than 20 yrs. and have an 800+ credit score and a totally clean credit report.

[Anonymous]

PP here, p.s. each of those payments made between the 1st & 6th of the month or so contains additional principal ... not a single black mark on our credit report.

[Anonymous]

Anonymous wrote:Have to vent: We got a mortgage from Wells Fargo last year and the payment is due at the first of the month with a grace period until the 16th after which they charge a late fee. God help us if we ever want to use the grace period b/c they start calling us literally every day after the first. They call it a courtesy call reminding us that our mortgage is due - but you get the recording about "trying to collect a debt" yadi yada. Never been assessed a late fee but every month we get these calls. We do automatic payments through our bank not Wells Fargo. Apparently, if we schedule the payments through Wells Fargo the calls will stop but we don't trust the idiots to do it right. Hate them.

Watch WF. If your house Isolde valuable to them than your loan they will try to take it.

[Anonymous]

I always pay my Verizon cell bill a week or more before due but online it says DUE IMMEDIATELY.

[Anonymous]