Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Home equity loan or line of credit Settlement process and costs New York

We have had a home equity account with Wells Fargo since -. The 10 year period of the account is over in - of -. I spoke to a representative in - about wanting to know what were Wells Fargo 's programs that I could possibly use to change my Home Equity account into when the 10 year period was up. I told the rep I wanted to know what all the fees and rates were. He said the only way I could get that was to sign a paper he would send me basically agreeing not to take anymore money from the home equity account. I was n't intending to take any more money from the acct so when I received the letter in the mail that clearly states " Request To Terminate Future Advances ( Home Equity Line of Credit '' and nothing else on this sheet of paper my wife and I signed it. -3 weeks later we get a letter from Wells Fargo that our Home Equity Line of Credit - - - was changed to a 15 year fixed rate mortgage at a 4.8 % rate with a monthly payment of almost $2900.00. We are


that was supposedly recorded by them and they refused. I would never agreed to a 15 year fixed rate mortgage that I ca n't afford and the fact at the time I still had 6 months left on my Home Equity Account where I was paying $1300.00. Why would I agree to pay $2900.00 rather than $1300.00?? Since that time I have had my complaint reviewed by Wells Fargo and they still insist I gave them a verbal OK to switch to a 15 Year fixed rate mortgage, WHICH I DID NOT!!!! I have refused to pay the new 15 year fixed rate mortgage monthly amount of $2900.00 for the last three months, my credit rating continues to go down and no other bank will give me a loan because I am now behind on the 15 year mortgage that I was put into without my approval.