If you have received a refund from Wells Fargo you were pleasantly surprised to find a refund. Inside the letter Wells Fargo will explain that they had collected unnecessary fees associated with their mortgage. This may seem like a great news to receive in this tumultuous mortgage climate with big banks and their customers. However, this refund check is a bait and switch, if you were issued this check it is likely that cashing the check you acknowledge that you will not sue Wells Fargo in the future.
Wells Fargo will be issuing refunds for FHA loans issued between 2009 and 2011. Wells Fargo had stated that approximately 528,000 FHA loans were issued between 2009 and 2011. If you are one of these customers and were issued one of these checks please give us a call today and we can advise you into what may be the best option for you.
