Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Home equity loan or line of credit Application, originator, mortgage broker California

About 10 years ago, I took out a $230000.00 home equity loan on a rental property located at -, -, CA. My interest for the loan for the first ten years was 4.24 %. I have now been informed that my new interest rate will be increase to 6 % without having been told of this fact when I signed up for the loan ten years ago. When I originally signed the loan, there was an 18 page document which I signed which was hidden and stated there is a 8 % margin on my loan after ten years which was never explained to me. I have contacted Wells Fargo over 20 times during the past ten years for a clarification as to when is a " margin '', but no one was able to explain it to me. There was a complete failure to explain or disclose to me what impact a " margin '' would have on my loan after ten years. I am a - senior and I feel that I have been misled and deceived into agreeing to a bad, fraudulent loan.