Town Square

Post a New Topic

Wells Fargo among banks required to raise capital

Original post made by Anonymous on May 6, 2009

Read the article:
Web Link

It looks like Wells Fargo is among the banks that will be required to raise capital.

It is my understanding that Wells Fargo requires a non-refundable fee in order to re-finance your house. To the best of my knowledge, you have to pay the fee before the appraisal is done, and Wells Fargo will keep the fee whether the refinancing goes forward (house appraises) or not!

How will Wells Fargo raise this capital? The article does not state much.

Please make sure you understand how Wells Fargo operates before going along with the writing of a non-refundable fee. Also make sure you know how they go about appraising your house before giving them a non-refundable fee.

Comments (1)

Posted by Jerry, a resident of Oak Hill
on May 7, 2009 at 12:33 am

Didn't Obama stated in one of his fairly recent speeches that he "didn't want to run the banks or the auto industry" yet his administration is issuing orders to the banks and making demands of the auto industry...

If you were a member and logged in you could track comments from this story.

Post a comment

Posting an item on Town Square is simple and requires no registration. Just complete this form and hit "submit" and your topic will appear online. Please be respectful and truthful in your postings so Town Square will continue to be a thoughtful gathering place for sharing community information and opinion. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

We prefer that you use your real name, but you may use any "member" name you wish.

Name: *

Select your neighborhood or school community: *

Comment: *

Verification code: *
Enter the verification code exactly as shown, using capital and lowercase letters, in the multi-colored box.

*Required Fields

and my friend here will have the kibble."
By Tom Cushing | 12 comments | 1,211 views

Job growth is driving housing prices
By Tim Hunt | 3 comments | 1,080 views

Sentinels of Freedom Newsletter
By Roz Rogoff | 0 comments | 737 views

When those covering the news become the news
By Gina Channell-Allen | 0 comments | 113 views