All Forum Posts by: Ean McNaney

Yea thats a good point , hopefully new residences will exceed that number...

@Wayne Brooks  I did report my background information , which was a felony marijuana charge 8 years ago, they never stated exactly what it was just sent me a denial letter with reason being "background info" .  They were impossible to get a hold of , i never even talked to them once on the phone , let alone met them in person, also never performed the appraisal even though i paid for it .  this also happened with quicken loans . How is a person supposed to be a productive member of society and make a change if you cant get a loan to be an entrepreneur let alone get a decent job? @ Andrew Postell   , the lender was Finance of America , there not small but definitely not one of the big lenders , if you have any recommendations for small lenders or any alternate lenders please let me know! 

@Sam Josh it was a cash out refinance , i bought the house cash and have it rented out as well as fixed it up myself and put about 25k into it . The background info was not stated . Yes they did provide conditional approval , stating all terms have been accepted . 

Thanks 

Long story short Finance oF America took me through a couple months of pre approval and approval status even gave me the final print out of the loan amount and terms only to tell me days before i was to receive money that because of "background information " i will be denied . If this was a problem why didn't they do this first ? why take me through months of paperwork and paying $600 for an appraisal , ( which by the way they never even finished ) ? This also happened with quicken loans , days before was going to receive funds was denied .

I have no mortgage on my house and have it rented out .

Hello , i am wondering if anyone could give there input on whether they think the Port Covington project will go through , when it will come to fruition and what surrounding areas will appreciate and where to buy ...

Thanks!

Casey - Thanks for the response , which insurer were you referring to ?

Wells fargo froze my accounts because i mentioned to a branch employee that i did not recognize a small ( $7 ) charge . I later found out that the fraud dept. froze all my W.F. accounts not just the one with the suspicious account which in turn restricted me from accessing my online account , withdrawing or depositing money ( a teller actually handed me 500 something dollars i was trying to deposit ) as well as make any payments to any other companies as well as Wells Fargo themselves for 45 days .  Over this time i went in to the branch 5-6 times with them telling me to contact the online department but they would tell me they could not talk to me and i needed to go to the branch etc. 

 After a fourth visit the problem was fixed and i was able to access my accounts but after over 40 days of it being suspended with no real explanation of why and missing 6 payments which in turn dropped my credit score over a combined 140 points now preventing me from getting a refinance on my home among other things . I am a real estate investor and rely completely on loans . I can not get approved for any loans with a 540 credit score and dropping because my low credit is continually affecting my life .

 What i really do not understand is why i had to do all the legwork , phone calls , emails and visits to the branch for a mistake made by wells fargo . Even though i have an explanation from the branch manager explaining how all negative marks should be removed and late fees reversed , still i received a call from wells fargo Wednesday the 15th telling me wells fargo will not be held responsible for any negative remarks .Wells Fargo would not even remove the missed payments to there own bank due to them locking me out . It is pretty obvious that if my account is frozen i can not make a payment to the bank that froze the account in the first place

Consequently because my wells fargo account was closed , Home Depot locked me out of my account as well since i had Automatic payments set up to be pulled from my Wells Fargo accounts and when they tried to make the monthly payment it was marked as missed

 Now after 8 months of back and forth the executive office as well as $400 spent on credit repair companies, executive office finally got back to me with a very impersonal letter that talked nothing about why my accounts was frozen let alone that it even happened. What was most concerning was that she even claimed that she reached out to the branch manager Marcus Jones and he told her that my account was never frozen but i went up and spoke with him later in the day and he says he never talked to anyone from the executive office about my case.

Im looking for some type of legal help since nothing else is getting through to these people

Thanks

I am looking for a insurance company that will cover my home even though it is under an LLC . There was a miscommunication between me an USAA and long story short i have not had coverage since i owned the house. I do reside in the property currently but plan on moving soon . The rest of the house is rented out .

Hi Nick 

Yes the reason why i am adding him to title is because he will then be applying for the loan and i will just receive it through him as if he owned it and had 100 equity in it like i do . As far as my credit goes to be honest I'm really devastated because i worked on my credit hard for so long and Wells Fargo froze my account with because of a mistake they made but then kept it frozen for 45 days or so , because of that i obviously could not make payments to them and thats why my credit is so poor now . If you have any suggestions to help with my credit situation that would be great , it seems like i am just going to have to switch careers because of this . 

The loan i am applying for would be FHA or VA or really any type that i would be eligible for , to be honest i have been getting denied so much I really don't have much faith in any bank or loan program . My Father does not own a home and also disabled veteran income ( $3400 ) a month to help possibly getting approved but his credit is not great either . I thought getting a loan with %100 equity would be a little easier .

Anyway thanks for the reply 

Ean 

I have been trying to get a refinance for over a year , after being denied at the last minute by Quicken loans I am trying just about every avenue possible . Wells Fargo froze my bank account so I was unable to make any payments on my credit cards there for ruining my credit score in one month. I just dissolved my LLC to add my father to title which will take at least 7 to 8 months before I can even apply with the dissolving and adding process. I am wondering if there's any easier way to go about getting this refinance .

My father is a veteran I'm wondering if it would be good to have him on title since he is eligible for %100 LTV.

        I am not intersted in getting a hard money loan because of rates . 

 Also ,  I own the house out right with no mortgage payments 

Thanks

@George Taylor . thats interesting , i did not know that rates go down with a HML over time based on relations , good to know . I have never worked with a hard money lender before but it sounds much simpler than some other options .

Thanks for the input its much appreciated .