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Tax, SDIRAs & Cost Segregation

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Tim Moore
Pro Member
  • Cohoes, NY
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Is Wells Fargo Evil?

Tim Moore
Pro Member
  • Cohoes, NY
Posted Dec 7 2017, 15:14
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.

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