Wells Fargo is an Awful Construction Loan Lender

I can’t tell more. I know that WF advertises hear and if they put 2 and 2 together and realize who is bad-mouthing them, I fear they’ll find a way to make me pay for it.

I will offer this, however. There was an unbelievable combination of lies and incompetence at the beginning and at the end of the process. In between ran, however, went quite smoothly. But the lies and incompetence and unwillingness to correct admitted mistakes was shocking and slammed us financially.

Here is one minor example (compared to the more devastating zingers). Can you imagine showing up to the post construction-phase closing with zero information on closing costs? No phone calls, no e-mails, no mailings, no messages, no faxes, no information, nothing. Suddenly, at the post construction closing table, we are supposed to have $20,000 in certified checks. At the very beginning of the process – six months earlier – we were told of small closing costs around $2,000 for the tax on the HELOC. When it came time, nobody informed us of any funds that we needed to prepare and have ready in certified checks at the table. This created an overnight panick and next day begging/borrowing to suddenly have the funds liquid. What a fucking mess that could have been avoided. And yes, we send out advance inquiries to make sure everything was set and if there was anything else we needed to know.

Do a search for Wells Fargo or Alphonso Gill on this forum and you will find more people who have had bad experiences with Wells Fargo.