All Forum Posts by: Tim Moore

Haha I hope not @Jay Helms

@Wayne Brooks Why would Wells Fargo continue paying everything on the property then if there was nothing weird going on? Wouldn't they just go into foreclosure on her?

@Brett Goldsmith The "Evil" part may have been a bit dramatic haha. I know that the majority of loans that Wells Fargo issues are fine and those people don't deal with things like this woman has, but I don't think it's a coincidence that there are many stories like hers. I can only assume they said no to a short sale because they wanted her to pay the taxes that she didn't want to pay. The only parties I have knowledge of being involved in the process are this woman and Wells Fargo. I don't know any information past that.

@Anthony Rodriguez I'm not sure about all of it. From what she told me she bought it for around 100,000 but she hasn't payed a cent in eight years. She just wants to get it done with. She would hand it over for a dollar if she could, but with the way Wells Fargo has handled the situation with her i'm not sure how that would go. She said that she tried to do a short sale years ago and they said no. I'm hoping that since we know what has been going on it will be a little easier for us. She had no idea about any issues with the taxes or anything before she bought it.

I’ve been working with a woman who bought a duplex ten years ago. She bought it from Wells Fargo and got her mortgage through them as well. According to her she was told that there were some taxes that needed to be payed, but the bank would pay them after closing. 6 months after she closed she claimed that WF dropped 30K in taxes on her. She filed a class action lawsuit against WF and was working with a lawyer who had 3 other clients with similar stories agains WF. A few months into the process her lawyers car “mysteriously burst into flames” with all of their records in it and the clients got scared and just walked away. The woman I’m working with said that she “walked away from the property.” She hasn’t payed her mortgage or taxes on it in 8 years, but it hasn’t gone into foreclosure. Today I went to the tax assessors office and got all the tax information that they had. What I discovered is that WF has been paying everything since around 2010. My concern is that they’re just paying everything waiting for another sucker to come along so that they can dump weird fees on them. I’ve done a little bit of research and there’s a ton of claims against WF doing crazy stuff like this. What should we do?! We are going to talk to a legal professional and we love the property, but we also don’t want to get stuck in a nightmare situation. Thank you in advance for all the advice.

Thank you Jay Hinrichs you’ve been a huge help!

Jay Hinrichs do taxes like that ever get “forgiven” in order to sell a property. A house could sit there for 100 years without being bought and add up such a high tax bill that it would never sell right? It’s a shame because there’s a ton of vacant properties that are just falling apart.

Thanks Jay Hinrichs it definitely didn’t seem like a normal situation since it’s been siting for ten years. The city called her a couple weeks ago because they had to board up a window before the whole thing fell out onto the sidewalk. When she talked to them she used the same terminology of “walking away” years ago. She said it hasn’t affected her credit and she doesn’t even know if she owns the property anymore. I’m stumped, but I think she’d be willing to take $1 if it would take it off her hands. Not unheard of!

Hey BP! My wife and I have been scouring our little city for a house or duplex to buy. My dream is the duplex, she would prefer a house unless we can find a duplex in a nice location where she can relax. The other day we were walking down a street we hadn’t been down before (we like to walk and look for properties) and she noticed a duplex that was clearly vacant for a long time. It was the first time we’d found a duplex that she immediately had a good gut feeling about so I was determined to figure out more about the property. I did some digging with the tax assessor’s website and found the owners name. I then talked to some friends we have a city hall and they also had some more insight on the duplex. I called the owner tonight and she went into a very elaborate story. She told me that she had bought the property almost ten years ago. She claimed that there were $30,000 in back taxes that the bank promised they were going to pay after closing. 6 months after she bought the property she said that they dumped the taxes on her and she tried to fight it for 4 years to no avail (she said they had done this to 2 precious buyers.) She has since “walked away” from the property, but all the records I can find are in her name and the bank says it is still personally owned. What should we do at this point? It could be a beautiful property, but I also don’t want to get stuck with a $30,000 tax bill after we close on the property. This will be our first purchase and we both feel great about the property, but we don’t want to get caught in a ten year battle. I would appreciate any insight you have and please ask questions if I’ve seemed to leave anything out. Any help is welcome :)

thanks @Jonathan Greene!