Well Fargo: My Review - They suck!

[the_pixie]

Got my paper statement from Wells Fargo.. They've removed the principle line off the statement. Thus, now it just says "Added payment". Which means, even though I've * it and underlined the extra funds are suppose to go towards principle, I'm sure they're inadequate billing department is going to credit it towards interest. I know that the extra

Comments

[echoweaver]

I seem to remember a hoopla about this kind of behavior when we bought out house. I'm not sure it's legal to obfuscate the process for paying against loan principle. I have no idea who you might report this to, but I think it's worth looking.

[the_pixie]

The problem being, I have to wait to do anyhing until after they post my checks. Banks just have to give you the opportunity to pay the loan off, but they don't have to make it obvious to people. If they post my extra to interest, then I have a leg to stand on when going to agencies.

It just upsets me that this type of behavior by a bank could make people lose their house due to their greed (ie, people who just make the monthly payment and have a balloon loan at the end of their loan who are not able to pay it off because they didn't really know better about paying down principle along the way).