We refinanced our New York home with Wells Fargo in order to cash out some of the large equity to purchase our new home in Virginia.

Our credit was excellent, over 760, and we were approved, but Wells Fargo changed the terms at the last minute, including the terms of the commitment letter the morning we went to closing. This is preditory lending.

We were given a take it or leave it "consolidated mortgage" to sign from the closing attorney who stated that was what Wells Fargo insisted on. This is called a contract of adhesion, illegal in New York State, and probably in all other states as well.

The original 1995 mortgage which was to be paid off at closing was in fact paid off and satisfied but not filed in the County Clerk's Office, even though we were sent documents stating that the loan was satisfied and would be recorded. It never was.

Wells Fargo however filed a "gap" mortgage, left the original mortgage, and then filed the "consolidated mortgage" with the County so that it appeared that we owed $1,214,000 for a property we were selling for $817,000.00. Can't be done, and it killed three sales that we now know of.

When we could not conviently continue to pay the mortgage payments due to the loss of the first sale for which we were in contract, we notified Wells Fargo by sending them at their request a "hardship" letter and asked them to hold off on any legal proceedings as we were actively working to sell the property, had hot prospects, and that the most recent contract the buyers "cancelled". Three sales fell through without our knowing what was going wrong.

Wells Fargo stated many times when we contacted them by telephone that they "didn't want our perperty" would work with us and that it took 30 to 45 days to set up a "file" and assign a contact person to work with us. We have many of these assurances on tape. Their assurances were a lie, as we have recently found out in their submission of court papers.

We recently found out that Wells Fargo, or persons associated or under their umbrella, had their law firm to proceed as early as October 1, 2007, 24 days before we had sent Wells Fargo our five page "hardship letter" which for the first time we informed them that we might have trouble making the mortgage payments, without secruing other financing.

However, earlier on September 16, 2007, we submitted a letter to the original Wells Fargo broker asking for advice on how to proceed. She then apparently directly notified the law firm instead.

What is interesting is that not until November 22, 2006, did we receive a notice from Wells Fargo that the matter was being turned over to their attorney. So why did the law firm start proceedings six weeks prior, before the matter was turned over to them by Wells Fargo? It was apparently to force us into foreclosure which would guarentee that we would not be able to borrow against our new home which was mortgage free. It is obvious that Wells Fargo, or agents of them wanted to pick up our New York property at auction.

Wells Fargo never opened a "file" or assigned someone to work with us, and 68 days later filed their Summons and Complaint and Lis Penance.

At the time of the refinancing when Wells Fargo changed the terms of the commitment statement (the HUD-1 form) that required that the original $162,000.00 mortgage be paid off. We received in the mail a Certificate of Mortgage payoff, and the next day a letter stating that a Satisfaction of Mortgage would be filed with the County Clerk.

Instead, Wells Fargo foreclosed on the original mortgage, for which we only owed $22,000 or 2% of the mortgage, and they had a $350,000 plus equity in. This while we owned our Virginia property outright and that was appraised for $315,000.

This was purely taking advantage of us, Seniors who through restoration and careful planning, had build up a huge equity in our property that was too tempting to the lender and/or some of its agents.

Had it not been for our ability and knowledge of the law that acting pro se, could force Wells Fargo and their attorneys to make admissions which uncovered much of the truth. We still don't know the full extent of the involvemets of the various entities involved in the charade that still continues.

A large Federal Suit has been filed in the Southern District of New York seeking damages against those involved. Recent facts mandate that we amend the original verified complaint by adding several additional parties. This suit and the 230 paragraphs in the complaint is awaiting final review as required by the Federal Court and the issuing of subpeonas. Then it will be made public.