I hate the theiving dumbass bastards at Wells Fargo

My question is, why was WF not included in the list of banks being sued by the government?

BTW, I hate WF just as much as you do OP.

In my opinion the final bank left "standing" will be Chase.
And I think after Tuesday's Fed Govt suit against the larger banks we'll have a better understanding of the time frame.

We have our mortgage with Wells Fargo. We received a letter the other day stating they want us to refinance to a lower rate and it won't cost us a thing. So, we are supposed to start back at month one, paying little principle and mostly interest just so we can save $100 per month? They really think people are dumb to think we'll all fall for that and then never get our house paid off.

This is what you get for giving them your business

Does anyone know if this is true or not?

Back in the 90's I had a friend who paid off her house in record time by overpaying her mortgage $200 a month- telling the bank that the extra $200 was to be applied ONLY to the principle and not the interest.

Certainly, if you used the savings to pay down your principal you would pay it off early. You would have to do some calculations to figure out if you are better off refinancing or not. If you are just a year or two into your mortgage, it would pay off. If you are a number of years into the mortgage, it wouldn't The thing it, not many people are going to have the financial willpower to apply the savings back into their mortgage and all it does is push them back to the starting line.

Honestly, when they said "no charge" I didn't believe it. I'm kind of figuring there were probably hidden charges they put back into your mortgage.

for any ideas on this question

TY

Hey (OP)
Try to find a bank that's not controlled by the Fed Reserv. Look into Community banking.