There are a lot of things to learn when it comes to mortgage loan. Mortgage settlement is one of them. What do you know about it? What does it mean for the borrower? Surely, there must be lots of things going around in your head about it. To make things clear, let’s just discuss it further in this chance. In fact, you better know about Wells Fargo mortgage settlement. You might never know when you will need it, so it is safer to just get ready anytime for it. Let’s just get down to it below.
The Mistakes that the Bank Is Responsible for
Wells Fargo Mortgage might have been large and famous lender. However, no matter how good it is, sometimes they can make mistake as well. Then, you will need to learn about Wells Fargo mortgage settlement. One of the mistakes would be the delay of the closing of your loan and you have to pay extra charges. The bank is the one responsible for this inconsistency. So, for Wells Fargo mortgage settlement, the bank has been contacting the customers and repays them back for those charges. Here are several tips to deal with such issue.
1. Monitor Disclosures and Documents
If you have known Wells Fargo settlement before you experience the issue yourself, you need to learn what you need to do to prevent it. Wells Fargo mortgage settlement is there to settle such issue with, but it is better if you don’t get caught up in it to begin with. So, monitor your mortgage disclosures and documents when it is approaching the closing date. Make sure that there are not extra charges to be made. Opting for longer rate-lock period would be better as well. That way, you reduce the risk of experiencing the problem.
2. Meet Up with the Housing Counselor
It is only natural for borrowers to get confused about mortgage rate locks. However, don’t let your confusion of it cause you to become the victim of the bank’s fault. Instead of expecting for Wells Fargo mortgage settlement for it, you should let yourself knowledgeable enough about the rate locks. Meet up with your housing counselor. With free or small fee, he/she should give you enough understanding about the rate locks, how to avoid them, and Wells Fargo mortgage settlement if you ask. You can be prepared by knowing them.
3. Reach Out the Wells Fargo for Help
You might have been doing two or more preventions to avoid the issue, but what if you still get caught up in it? If that is the case, you should not feel doubt for reaching out to Wells Fargo yourself. They might be responsible for the issue, but they are responsible enough to deal with it too. There is Wells Fargo mortgage settlement, but you can call the home lending division at 1-800-357-6675. For auto loans, you can share your concerns by calling 1-800-289-8004. They should know how to get you out of the problem. So, feel free to call.