Wells Fargo Short Sale / Credit Reporting No lates

[cmcgreanor]

I am going to be recieving a short sale approval with Wells Fargo. I am current on my payments. Has anyone negotiated a "Paid, Never late" credit bureau reporting with Wells? I have a 1st loan which is purchase money, and a 2nd HELOC. I live in California. I beleive I have a chance at getting it reported either "Paid, never late", or "Settled in full" since I have never been late and Wells Fargo is approving the short sale. I have a job transfer and that is the reason for the short sale.

What is the best way to negotiate something like this? I am not sure if they are going to want cash from me. If they do is that a good item to use for reporting it as "Paid, never late"? If they do not require money if I offer it is that a good idea? How about the second loan? Should I try to negotiate the same way??

[Moe Bedard]

That is going to be tough to get and to tell you the truth, I have never seen it. You could try the cash to settle and offer a short sale with no late pays. That may work.

The 2nd will definitely have to be dealt with. They will be much easier than the 1st.

Bottom line, not many people get help without being late.

[cmcgreanor]

So I got the approval letter on the 1st loan yesterday. I am now waiting on the equity line. I will see what they want from their department hopefully I will not see the words charge-off in the letter. I am going to try and offer cash if necessary.

[HopingtoFind]

Thats great that you were able to get an approval without being late.

We have been negotiating Short sale with Wells fargo... same as yours 1st and 2nd... since May. Haven't made payments since March on either 1st or 2nd.

Got an approval from 1st in July. 2nd wanted at least 10k... we owe $100k... to settle. 1st at this point agreed to give them 10k, now we are waiting for the 2nd to approve.

I have mentioned to both 1st and 2nd that I don't want them to show lates on the credit report... initial response was we can't do that. So I'm waiting for the approval from the 2nd to start negotiation on credit reporting.

Keep us posted with your progress.

[cmcgreanor]

Originally Posted by HopingtoFind

Thats great that you were able to get an approval without being late.

We have been negotiating Short sale with Wells fargo... same as yours 1st and 2nd... since May. Haven't made payments since March on either 1st or 2nd.

Got an approval from 1st in July. 2nd wanted at least 10k... we owe $100k... to settle. 1st at this point agreed to give them 10k, now we are waiting for the 2nd to approve.

I have mentioned to both 1st and 2nd that I don't want them to show lates on the credit report... initial response was we can't do that. So I'm waiting for the approval from the 2nd to start negotiation on credit reporting.

Keep us posted with your progress.

Ill let you know what happens. I am expecting to be hearing from the equity line folks this week. If you don't mind me asking what state are you in? I asked the first to report it as "paid, never late" they said they are mandated by their legal department to report it as settled in full for less then the full amoumt. I filed a letter requesting a paid, never late status and plan on disputing it later. We will see what the 2nd tries to pull this week.

[HopingtoFind]

We are in California as well. I have heard that "paid, never late" is almost impossible to get. My 1st in the aproval letter stated that they will report me "settled for less then full amount". 2nd just faxed an approval letter stating that they will report 2nd as "charged off". 2nd is getting over $10,000 from 1st.
I asked them if they think I worked this hard to get a "charged off" on my credit. I could have gotten that by foreclosing.
So we'll see what happens. Keep us posted.

[faith]

Originally Posted by cmcgreanor

So I got the approval letter on the 1st loan yesterday. I am now waiting on the equity line. I will see what they want from their department hopefully I will not see the words charge-off in the letter. I am going to try and offer cash if necessary.

CMCGreanor,
Short Sale is considered as foreclosure and it will affect your credit score by 50 to 200 points. The Lender will report it as follows:
1. If the homeowner is late like me I was late more than 120 days they reported it more than 120 days late.

2. Then it will be reported as Paid, settled in less than full balance.

In your case if you were never late and paid on time, it will show the regular reporting like 0 days.

You have to make sure that you get it in writing that they have accepted this Short Sale and they will not pursue any deficiency judgment against you. As far as your 2nd you can negotiate the amount start the offer from 5%, 10% of the balance owed, payable in 5 years or longer and no interest. If you have cash you can probably make a lower offer of $5000 paid in cash. But ask for a letter that they not pursue any deficiency judgment against you. The letter will say, WF, each investor and insurer approve the Short Sale and will not pursue any deficiency judgment against you. It will specify that this offer is for Mr and Mrs XYZ your buyer's name only and no substitution, the agent gets 5% commission which you do not pay, the Title Company and address. There should be NO closing costs to you.

Actually your credit report will show 0 days, zero balance, Paid, Settled in Less Than Full Balance.

If late ones like me, the credit report will show more than 120 days late, zero balance and in red color. Paid, Settled in Less than Full Balance.

My credit score used to be 750 after Short Sale is now down to 677, my husband used to be 750 and is now down to 698. We still got approved for a car loan this month with zero interest plus $1500 incentives. In Short Sale you can again buy a home within 24 months as long as you have 20% downpayment and can still negotiate the interest with your lender.
Again, make sure you get everything in writing that they will not pursue any deficiency judgment against you just in case they reported it differently just like what they did to me. The credit report still showed I owed the 2nd mortgage, but I disputed it with the lender and the credit bureaus and I gave them copies of email and letter stating they will not pursue any deficiency judgment against me. So it was changed to zero balance, Paid, Settled in less than Full Balance, in red shows more than 120 days late. So the letter really help us.

Wish you the best, God bless and take care.

[HopingtoFind]

faith.. very informative post. Thank you.

I have heard that is possible to negotiate "Settled", with 0 balance. That is what I will attempt. As far as deficiency, WF approval from 1st stated as follows:

"As agreed, when we are in receipt of the proceeds of sale and all required documentation, we will amend reporting to the credit bureau to reflect "agreed settlement short of full payment" which should be reflected on the credit report within 60-90 days from date of notification and waive any deficiency rights, if applicable".

My concern is that statement "waive any deficiency rights, if applicable" and not including investors, insurance, etc. is not strong enough.

Approval from 2nd stated as follows:

"The shortfall amount, estimated $xx.xxxx is forgiven."

also:

"Report forgiveness of debt to the IRS as may be required by current IRS regulation"

Nothing in the 2nd's approval letter that states that they will not pursue deficiency.

[faith]

Originally Posted by HopingtoFind

faith.. very informative post. Thank you.

Originally Posted by HopingtoFind

I have heard that is possible to negotiate "Settled", with 0 balance. That is what I will attempt. As far as deficiency, WF approval from 1st stated as follows:

"As agreed, when we are in receipt of the proceeds of sale and all required documentation, we will amend reporting to the credit bureau to reflect "agreed settlement short of full payment" which should be reflected on the credit report within 60-90 days from date of notification and waive any deficiency rights, if applicable".

My concern is that statement "waive any deficiency rights, if applicable" and not including investors, insurance, etc. is not strong enough.

Approval from 2nd stated as follows:

"The shortfall amount, estimated $xx.xxxx is forgiven."

also:

"Report forgiveness of debt to the IRS as may be required by current IRS regulation"

Nothing in the 2nd's approval letter that states that they will not pursue deficiency.

Hoping to find,
Waive any deficiency rights" means they will not pursue a deficiency judgment. This is usually the case in a short sale where you have worked to sell the asset and get it off the lender's books.


If applicable means if you are in state where there is anti-deficiency judgment law it is called CA Section 580b in CA. That means if you are in CA or a state that has anti deficiency judgment law, your lender can not sue you for any deficiency judgment after the house was foreclosed or Short Sold.

I think the letter on the 2nd clearly stated that it is FORGIVEN and you have it in writing for both.

I have researched CAL. CCP. CODE § 726 : California Code - Section 726 for you to read and I hope it will help you.
CAL. CCP. CODE § 726 : California Code - Section 726
(a)There can be but one form of action for the recovery of any debt or the enforcement of any right secured by mortgage upon real property or an estate for years therein, which action shall be in accordance with the provisions of this chapter. In the action the court may, by its judgment, direct the sale of the encumbered real property or estate for years therein (or so much of the real property or estate for years as may be necessary), and the application of the proceeds of the sale to the payment of the costs of court, the expenses of levy and sale, and the amount due plaintiff, including, where the mortgage provides for the payment of attorney's fees, the sum for attorney's fees as the court shall find reasonable, not exceeding the amount named in the mortgage.

(b)The decree for the foreclosure of a mortgage or deed of trust secured by real property or estate for years therein shall declare the amount of the indebtedness or right so secured and, unless judgment for any deficiency there may be between the sale price and the amount due with costs is waived by the judgment creditor or a deficiency judgment is prohibited by Section 580b, shall determine the personal liability of any defendant for the payment of the debt secured by the mortgage or deed of trust and shall name the defendants against whom a deficiency judgment may be ordered following the proceedings prescribed in this section.
In the event of waiver, or if the prohibition of Section 580b is applicable, the decree shall so declare and there shall be no judgment for a deficiency.

In the event that a deficiency is not waived or prohibited and it is decreed that any defendant is personally liable for the debt, then upon application of the plaintiff filed at any time within three months of the date of the foreclosure sale and after a hearing thereon at which the court shall take evidence and at which hearing either party may present evidence as to the fair value of the real property or estate for years therein sold as of the date of sale, the court shall render a money judgment against the defendant or defendants for the amount by which the amount of the indebtedness with interest and costs of levy and sale and of action exceeds the fair value of the real property or estate for years therein sold as of the date of sale.


In no event shall the amount of the judgment, exclusive of interest from the date of sale and of costs exceed the difference between the amount for which the real property or estate for years therein was sold and the entire amount of the indebtedness secured by the mortgage or deed of trust. Notice of the hearing shall be served upon all defendants who have appeared in the action and against whom a deficiency judgment is sought, or upon their attorneys of record, at least 15 days before the date set for the hearing. Upon application of any party made at least 10 days before the date set for the hearing the court shall, and upon its own motion the court at any time may, appoint one of the probate referees provided for by law to appraise the real property or estate for years therein sold as of the time of sale. The probate referee shall file the appraisal with the clerk and the appraisal is admissible in evidence. The probate referee shall take and subscribe an oath to be attached to the appraisal that the referee has truly, honestly and impartially appraised the real property or estate for years therein to the best of the referee's knowledge and ability. Any probate referee so appointed may be called and examined as a witness by any party or by the court itself. The court shall fix the compensation, in an amount as determined by the court to be reasonable, but the fees shall not exceed similar fees for similar services in the community where the services are rendered, which may be taxed and allowed in like manner as other costs.
(c)No person holding a conveyance from or under the mortgagor of real property or estate for years therein, or having a lien thereon, which conveyance or lien does not appear of record in the proper office at the time of the commencement of the action need be made a party to the action, and the judgment therein rendered, and the proceedings therein had, are as conclusive against the person holding the unrecorded conveyance or lien as if the person had been a party to the action. Notwithstanding Section 701.630, the sale of the encumbered real property or estate for years therein does not affect the interest of a person who holds a conveyance from or under the mortgagor of the real property or estate for years therein mortgaged, or has a lien thereon, if the conveyance or lien appears of record in the proper office at the time of the commencement of the action and the person holding the recorded conveyance or lien is not made a party to the action.

Please see the rest of this law decree in this link:>>
http://codes.lp.findlaw.com/cacode/CCP/3/2/10/1/s726

In my opinion the letter you have clearly stated that there will be no deficiency judgment against you for the first and the second clearly stated it is forgiven. However, it is for your best interest to seek a Real Estate Lawyer to buy 1 or 2 hours of his time to explain to you what the letter means.


Thank you and God bless you.




Information given is not a legal advice but for your information only.

[faith]

P.S.

Here's the link for IRS Debt Forgiveness Act
http://www.irs.gov/individuals/article/0,,id=179414,00.html



580b. No deficiency judgment shall lie in any event after a sale of real property or an estate for years therein for failure of the purchaser to complete his or her contract of sale, or under a deed of trust or mortgage given to the vendor to secure payment of the balance of the purchase price of that real property or estate for years therein, or under a deed of trust or mortgage on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser.

Where both a chattel mortgage and a deed of trust or mortgage have been given to secure payment of the balance of the combined purchase price of both real and personal property, no deficiency judgment shall lie at any time under any one thereof if no deficiency judgment would lie under the deed of trust or mortgage on the real property or estate for years therein.

It should be purchase money mortgage, primary residence and no refinance.


God bless and take care.

[tomser]

Originally Posted by faith

P.S.

Here's the link for IRS Debt Forgiveness Act
http://www.irs.gov/individuals/article/0,,id=179414,00.html



580b. No deficiency judgment shall lie in any event after a sale of real property or an estate for years therein for failure of the purchaser to complete his or her contract of sale, or under a deed of trust or mortgage given to the vendor to secure payment of the balance of the purchase price of that real property or estate for years therein, or under a deed of trust or mortgage on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser.

Where both a chattel mortgage and a deed of trust or mortgage have been given to secure payment of the balance of the combined purchase price of both real and personal property, no deficiency judgment shall lie at any time under any one thereof if no deficiency judgment would lie under the deed of trust or mortgage on the real property or estate for years therein.

It should be purchase money mortgage, primary residence and no refinance.


God bless and take care.

My primary home I refinanced first and second HELCO with same lender , If I request short sale and they approve it , then how does it work as for deficiency jugement . I am on time no late and I live in California

thnaks for your input

[HopingtoFind]

My primary home I refinanced first and second HELCO with same lender , If I request short sale and they approve it , then how does it work as for deficiency jugement . I am on time no late and I live in California

thnaks for your input
For both 1st and Heloc make sure as was mentioned before that you have it in writing from your lender that they will not puruse deficiency judgement against you. This way you don't have to guess if they will or will not try to pursue a deficieny against you.

[faith]

Originally Posted by tomser

My primary home I refinanced first and second HELCO with same lender , If I request short sale and they approve it , then how does it work as for deficiency jugement . I am on time no late and I live in California

Originally Posted by tomser

thnaks for your input

Mr. Tomser,
It's nice to hear from you again. Hope all is well with you.

California has two primary laws that deal with foreclosures, short sale and ensuing potential deficiencies. These two laws are 580b and 580d, and are found in the California Code of Civil Procedure.

CCP 580b: This is the purchase money rule. Under this rule, a lender can not pursue a debtor after foreclosure or Shor Sale for any deficiency balance as long as the qualifications under 580b are met. That means that if there was a judicial or non-judicial sale, and the lender did not receive their full loan balance from the sale and money is still owed, they can not enforce payment on the difference. This is what it says:
No deficiency judgment shall lie in any event after a sale of real property or an estate for years therein for failure of the purchaser to complete his or her contract of sale, or under a deed of trust or mortgage given to the vendor to secure payment of the balance of the purchase price of that real property or estate for years therein, or under a deed of trust or mortgage on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser.

Nevertheless, had a refinance been involved or had the second been taken out after the purchase, such as the case in most HELOC loans, then the 580b exception does not apply. Homeowners with home equity lines of credit (HELOC), second mortgages, and cash-out refinances may be subject to a deficiency judgment. But wait a minute, there is still CA Section 580d.

CCP 580d: Under this rule, once a lender irrevocably elects to proceed with a non-judicial sale, it is prohibited from proceeding any further on any deficiency. That means that if even if there is non-judicial sale, and the lender did not receive their full loan balance from the sale where you still owe money, it still can not enforce payment on the difference. Specifically, the statute holds as follows:

No judgment shall be rendered for any deficiency upon a note secured by a deed of trust or mortgage upon real property or an estate for years therein hereafter executed in any case in which the real property or estate for years therein has been sold by the mortgagee or trustee under power of sale contained in the mortgage or deed of trust.

The only way to hold a Short Sale on your property is if both the primary lender and the HELOC lender agree. As a part of the short sale agreement, you will probably be required to pay a certain amount to both lenders in order for your account to be considered closed. You can make an offer to settle starting from 5% or 10% of what the balance owed. Say the balance owed is $100,000, make an offer to settle the 2^nd mortgage starting from $5,000 or $10,000 payable in 5 years no interest. This is in addition to the money recouped by the sale. Your credit report will show as Paid, Settled In Less Than Full Balance. Your credit score will only be affected from 50 to 200 points which is significantly less than the damage caused by a foreclosure. You can buy a home again in 24 months as long as you have 20% downpayment.

Sometime the HELOC lender makes it difficult to approve a Short Sale. That’s when the primary lender wants to push a Short Sale; it may offer the HELOC lender an incentive. Sometimes the HELOC lender is paid between $1,000 and $4,000 or more to sign off on the sale. Or sometimes they may ask you to sign a promissory note if the amount they are asking is reasonable and within 5% or 10% of the balance owed, it’s best to settle it before you sign the escrow. Do not sign the escrow until you get everything in writing that they will not pursue any deficiency judgment against you, or they have accepted the Short Sale and they have settled for $5,000 or $10,000 payable in 5 years no interest, the balance is forgiven.

Remember in Short Sale, the lender pays 5% commission to the agent; you don’t pay a dime to the agent and no costs to you. It is for your best interest when doing Short Sale that you demand or request a letter from the lender for both 1^st and 2^nd mortgage stating they have accepted the Short Sale as Paid, settled in less than full balance or they will not pursue any deficiency judgment against you or the balance is forgiven. Keep that letter and make copies just in case you need to dispute a credit report made by your lender with the three credit bureaus.

Wish you the best, Blessings from Above and take care.



This is not a legal advice but for your information only.

[cmcgreanor]

Originally Posted by faith

Hoping to find,
Waive any deficiency rights" means they will not pursue a deficiency judgment. This is usually the case in a short sale where you have worked to sell the asset and get it off the lender's books.


If applicable means if you are in state where there is anti-deficiency judgment law it is called CA Section 580b in CA. That means if you are in CA or a state that has anti deficiency judgment law, your lender can not sue you for any deficiency judgment after the house was foreclosed or Short Sold.

I think the letter on the 2nd clearly stated that it is FORGIVEN and you have it in writing for both.

I have researched CAL. CCP. CODE § 726 : California Code - Section 726 for you to read and I hope it will help you.
CAL. CCP. CODE § 726 : California Code - Section 726
(a)There can be but one form of action for the recovery of any debt or the enforcement of any right secured by mortgage upon real property or an estate for years therein, which action shall be in accordance with the provisions of this chapter. In the action the court may, by its judgment, direct the sale of the encumbered real property or estate for years therein (or so much of the real property or estate for years as may be necessary), and the application of the proceeds of the sale to the payment of the costs of court, the expenses of levy and sale, and the amount due plaintiff, including, where the mortgage provides for the payment of attorney's fees, the sum for attorney's fees as the court shall find reasonable, not exceeding the amount named in the mortgage.

(b)The decree for the foreclosure of a mortgage or deed of trust secured by real property or estate for years therein shall declare the amount of the indebtedness or right so secured and, unless judgment for any deficiency there may be between the sale price and the amount due with costs is waived by the judgment creditor or a deficiency judgment is prohibited by Section 580b, shall determine the personal liability of any defendant for the payment of the debt secured by the mortgage or deed of trust and shall name the defendants against whom a deficiency judgment may be ordered following the proceedings prescribed in this section.
In the event of waiver, or if the prohibition of Section 580b is applicable, the decree shall so declare and there shall be no judgment for a deficiency.

In the event that a deficiency is not waived or prohibited and it is decreed that any defendant is personally liable for the debt, then upon application of the plaintiff filed at any time within three months of the date of the foreclosure sale and after a hearing thereon at which the court shall take evidence and at which hearing either party may present evidence as to the fair value of the real property or estate for years therein sold as of the date of sale, the court shall render a money judgment against the defendant or defendants for the amount by which the amount of the indebtedness with interest and costs of levy and sale and of action exceeds the fair value of the real property or estate for years therein sold as of the date of sale.


In no event shall the amount of the judgment, exclusive of interest from the date of sale and of costs exceed the difference between the amount for which the real property or estate for years therein was sold and the entire amount of the indebtedness secured by the mortgage or deed of trust. Notice of the hearing shall be served upon all defendants who have appeared in the action and against whom a deficiency judgment is sought, or upon their attorneys of record, at least 15 days before the date set for the hearing. Upon application of any party made at least 10 days before the date set for the hearing the court shall, and upon its own motion the court at any time may, appoint one of the probate referees provided for by law to appraise the real property or estate for years therein sold as of the time of sale. The probate referee shall file the appraisal with the clerk and the appraisal is admissible in evidence. The probate referee shall take and subscribe an oath to be attached to the appraisal that the referee has truly, honestly and impartially appraised the real property or estate for years therein to the best of the referee's knowledge and ability. Any probate referee so appointed may be called and examined as a witness by any party or by the court itself. The court shall fix the compensation, in an amount as determined by the court to be reasonable, but the fees shall not exceed similar fees for similar services in the community where the services are rendered, which may be taxed and allowed in like manner as other costs.
(c)No person holding a conveyance from or under the mortgagor of real property or estate for years therein, or having a lien thereon, which conveyance or lien does not appear of record in the proper office at the time of the commencement of the action need be made a party to the action, and the judgment therein rendered, and the proceedings therein had, are as conclusive against the person holding the unrecorded conveyance or lien as if the person had been a party to the action. Notwithstanding Section 701.630, the sale of the encumbered real property or estate for years therein does not affect the interest of a person who holds a conveyance from or under the mortgagor of the real property or estate for years therein mortgaged, or has a lien thereon, if the conveyance or lien appears of record in the proper office at the time of the commencement of the action and the person holding the recorded conveyance or lien is not made a party to the action.

Please see the rest of this law decree in this link:>>
http://codes.lp.findlaw.com/cacode/CCP/3/2/10/1/s726

In my opinion the letter you have clearly stated that there will be no deficiency judgment against you for the first and the second clearly stated it is forgiven. However, it is for your best interest to seek a Real Estate Lawyer to buy 1 or 2 hours of his time to explain to you what the letter means.


Thank you and God bless you.




Information given is not a legal advice but for your information only.

I am still waiting on the Wells Fargo 2nd letter but I checked back with the forum and was wondering, when the HELOC is "forgiven" how does that report to the credit bureaus?

[faith]

Originally Posted by cmcgreanor

I am still waiting on the Wells Fargo 2nd letter but I checked back with the forum and was wondering, when the HELOC is "forgiven" how does that report to the credit bureaus?

CMCgreanor,
It's going to show the days you were late or not late and Paid, Settled In Less Than Full Balance.

Mine shows more than 120 days late, the 2nd mortgage was forgiven, but for both mortgages, the 1st and the 2nd it shows Paid, Settled In Less Than Full Balance.

Hope this helps.

Take care

[tomser]

Originally Posted by faith

P.S.

Here's the link for IRS Debt Forgiveness Act
http://www.irs.gov/individuals/article/0,,id=179414,00.html



580b. No deficiency judgment shall lie in any event after a sale of real property or an estate for years therein for failure of the purchaser to complete his or her contract of sale, or under a deed of trust or mortgage given to the vendor to secure payment of the balance of the purchase price of that real property or estate for years therein, or under a deed of trust or mortgage on a dwelling for not more than four families given to a lender to secure repayment of a loan which was in fact used to pay all or part of the purchase price of that dwelling occupied, entirely or in part, by the purchaser.

Where both a chattel mortgage and a deed of trust or mortgage have been given to secure payment of the balance of the combined purchase price of both real and personal property, no deficiency judgment shall lie at any time under any one thereof if no deficiency judgment would lie under the deed of trust or mortgage on the real property or estate for years therein.

It should be purchase money mortgage, primary residence and no refinance.


God bless and take care.

hello Faith

what about investment property refinanced and applyuing short sale ??

the deficiency or second foregivness owe to IRA as income ???

thank you

[cmcgreanor]

Originally Posted by faith

CMCgreanor,
It's going to show the days you were late or not late and Paid, Settled In Less Than Full Balance.

Mine shows more than 120 days late, the 2nd mortgage was forgiven, but for both mortgages, the 1st and the 2nd it shows Paid, Settled In Less Than Full Balance.

Hope this helps.

Take care

faith,

When did you finalize your short sale? Did your letter for the second show charge-off? I am current and have approval I am not sure why they would report it as a charge-off.

[HopingtoFind]

cmcgreanor.... Any luck with the 2nd? Will they still report you as charged-off?

[cmcgreanor]

Originally Posted by HopingtoFind

cmcgreanor.... Any luck with the 2nd? Will they still report you as charged-off?

Yes they told me last week that it would be reported as a Charge off with a note settled in less then full. I tried to see if they would budge and they would not. I got a call this morning from the executive office again, and they said they got a letter from a California Senator and that they would be looking into the matter but can not guaruntee anything. I don't think anything good is going to happen, but we will see. You should contact your senator and have them contact Wells Fargo maybe if there is more presure they will bend.