Wells Fargo Gives In, Offers Lame Workshop for Suffering Homeowners

Categories: Business, Housing
wellsdude.jpg
He'd be a really nice guy if he just gave us some of his money
Last week, we told readers about Occupy Bernal's epic march to the front steps of Wells Fargo CEO John Stumpf's home, where protesters delivered a foreclosure notice of their own. And although Stumpf is still living large, this mock "auction" almost certainly helped get his attention.

It seems Wells Fargo might be trying to make peace with Bay Area homeowners who are still in danger of losing their homes due to the financial crisis that spurred a housing meltdown across the nation. In an effort to show that big banks aren't all that bad, Wells Fargo is hosting a workshop to help its struggling customers defend their homes.

More than 11,000 homeowners across the Bay Area are invited to a two-day home preservation workshop on March 7 and 8. There, Wells Fargo specialists will give participants some ideas as to how they can hang onto their homes.

"We are typically able to provide a workout that prevents foreclosure for approximately two out of three customers who attend these events," said Jim Foley, president of Wells Fargo's Greater Bay Area region.

Specifically, Wells Fargo will provide its customers with two options, including a loan modification program, which lowers monthly payments by changing loan terms, such as the interest rate or repayment deadlines.

Another option for those of you who still have jobs but are having a hard time making payments: The Home Affordable Modification Program (HAMP), which is offered by the federal government. HAMP allows customers lower mortgage payments of 21 percent of their monthly income. Wells Fargo says this option can help homeowners save hundreds of dollars per month.

In the past two years, more than 600,000 Wells Fargo homeowners tapped into the modification program to help them with their taxing mortgage payments. Meanwhile, more than 100,000 customers used HAMP, according to Wells Fargo.

The free workshop will be held from 9 a.m. to 7 p.m., at the Craneway Pavilion, 1414 Harbour Way South in Richmond. Parking and attendance are free (Now there's a word you don't associate with Wells Fargo). You can reserve your spot by signing up online here.

Customers unable to attend the workshop are encouraged call (800) 678-7986 for more information about potential options to avoid foreclosure.

Good luck!

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Edward Smokes Cigars
Edward Smokes Cigars

I went through the HAMP program, was approved by the wells fargo person in their United States office, whom was approved by the court after mediation on my foreclosure. I provided all tax records, current incomes and all that was required of me and then hit a brick wall with wells fargo. They got rid of the nice lady that worked with me over the phone for 4 months, who also attended 2 mediation hearings and they stopped persuing the matter altogether. A letter finally came from the court stating that, IF, by a specific date (in November last year), there was no more activity on my case that the foreclosure would be dismissed for lack of-prosecution. It was dismissed. Now, back at square 1 after 41 months of going to court to keep my home, wells fargo still expects me to pay my current bad mortgage, is offering no solutions, will not even communicate with me other than to keep sending my monthly premium notice for the goofed up mortgage. Their "outsourced" staff in Indonesia or wherever they are, continues to bomb me with phone calls and never can I get through to their office here in the USA or receive a call from that office. Wells Fargo will do anything to get you gone if you are delinquent and no government plan is going to save you unless maybe you are a war veteran and even still. 

ZingZooo
ZingZooo

No way man, you really have to wonder, how lame is that? lol. Seriously?Total-Privacy dot US

Stephen Bibb
Stephen Bibb

DEBT VERSIS DEFICIT

Todaywe see Americans bombarded on TV with concerns over the US Debt. We are toldDebt this and Debt that; and trying to scare the daylights out of us. Yet we goback to PRIOR TO World War II, the United States was in a depression and the USGovernment was borrowing money from the Federal Reserve for years in order tooperate the Federal Government and pay for services for the American people.Then WW II hit.

Thedebt incurred to win World War II drove the debt to where Taxpayers were on thehook for a debt that was significantly bigger, as a percentage of G.D.P., thanthe debt is today. (Reference: Paul Krugman, Economic Noble Prize Winner).

Sowhen did the US Government pay back all that debt to the Federal Reserve? I am57 years old and I don’t know anybody that was taxed to pay that debt back tothe Federal Reserve. Fact is, it was never paid backand was not NEVER needed to be paid back.

First,families have to pay back their debt. Governments don’t — all they need to dois ensure that debtgrows more slowly than their tax base. The debt from World War II was neverrepaid; it just became increasingly irrelevant as the U.S. economy grew, andwith it the income subject to taxation. Second — and this is the point almostnobody seems to get — an over-borrowed family owes money to someone else;

U.S.debt is, to a large extent, money we owe to ourselves. (Reference: PaulKrugman, Economic Noble Prize Winner).

Weknow that after WW II, the depression was over, the economy was booming andunemployment was less than ever before. What happened to the US Debt? How didthe economy recover and why?

So,in order to Pay for WW II, the Federal Government had to roll the equivalent ofTrillions of dollars out of the Federal Reserve to pay for WW II on top of thealready existing US Debt that had been developing over yearsduring the depression.

Inorder to finance the War, the Government began to REGULATE AND TOOK CONTROL OFCORPORATIONS, THE RAILROADS, THE AIRLINES, THE AUTOMOBILE COMPANIES, THE FINANCIALINSTITUTIONS, THE INSURANCE COMPANIES, ETC. The US Government took overeverything.

Thenthe US Government began directing these CORPORATIONS AND COMPANIES to buildmilitary machinery such as Tanks, Fighters, Bombers, Military Vehicles,developing a National Defense Highway System that we drive on across thiscountry today; other roads, bridges, dams, levies, the electrical grid we havetoday across the country, and the foundation of the US economic infrastructurewe have today.

All designed, built and architected in the name of NATIONAL DEFENSE BY CONTROLAND DIRECTION OF THE FEDERAL GOVERNMENT. ALL THE JOBS CREATED WERE CREATED BYTHE UNITED STATES GOVERNMENT. Lets' be clear here. These jobs WERE NOT CREATEDBY CORPORATIONS.

DEFICITDEFICT DEFICIT

Soby the end of WW II the government had a surplus of money to operate the USGovernment and the DEFICT WAS GONE. Why? Because so many people had becomeemployed and PAYING TAXES that there was NO MORE DEFICIT. And what about theDEBT? Well it was still there but who cared? NOBODY CARED ANYMORE ABOUT THEDEBT BECAUSE IT DID NOT MATTER. Fact is the US Government is NOT A DEBTACQUIRER BUT A USER AND DISTRIBUTOR OF CURRENCY.

Itis a FACT that in order to remove the economic impact either small or large of aGovernment DEBT, you have to remove it by getting more people EMPLOYED SO THEREIS A LARGER TAX BASE. As Mr. Krugman explained; when the tax base is largerthan the need to operate the government (surplus), the so called debt willshrink overtime.

Sowhat happened after WW II? The US economy was booming and of course the rest ofthe world wanted in on the action. We observe that the US Government waswilling to finance the reconstruction of Europe, Japan, andother countries to help them rebuild their infrastructures and expand theireconomies. How? It was done using US Dollars right from our US Federal Reserve.

Why was the United States willing to do this? Was not this also a kind of adebt to the United States Government since we were using our US Currency? Ohand by the way, where is the proof these countries ever paid any of that moneyback to our US Federal Reserve?

Inthe 1950’s the US Government saw the coming of the Computer Age. They also knewand figured out that whoever controls the Financial Information would controlthe world economies and thus to a large degreecontrol the resources of the world. I can argue that the US Government cutdeals and agreements with countries (secret or otherwise) that ensured that theUS Dollars would be the World Currency FOREVER through the InternationalMonetary Fund (IMF).

ThisI believe was done and agreed to by China, Russia and everybody else. In returnthe US Government agreed to finance the economic development of these countriesand the agreement to allow for moving USManufacturing and Production jobs overseas to their respective countries.

Wesee how the rest of the world economies shook when the trade centers were hitand our economy shook. We see in 2008 when we almost had a US economic meltdownhow the rest of the world economies suffered simultaneously. I rest my case onthat point.

Soderegulation of corporations has allowed them freedom to expand USManufacturing and Production of goods and services to foreign countries and ofcourse that has meant reduced regulations, lower labor costs, and lowerproduction and manufacturing costs.

Soduring the days of WW II, we were mostly a domestic economy and the USGovernment really didn’t care about what other countries thought or howcorporations felt about us rolling money out of the Federal Reserve to financethe war or fix our economic problems. There was only one big economy back thenand it was USA.

Today,we have successfully financed off the back of our Federal Reserve and theamerican people the expansion of many of the economies of the world and the UStax payer has helped this happen. Americans have lost millions of jobs toforeign countries and foreigners over the years since WW II and nowCorporations cannot only develop, produce and manufacture goods and services for less in theseforeign countries, but they can now in turn SELL THEIR PRODUCTS RIGHT THERE INTHESE COUNTRIES. There is no incentives for Corporations to bring these jobsback to the United States and most Republican Law Makers and many DemocraticLaw Makers are so bought off by Corporations, they have no political or moralwill to change things.

Asa matter of fact they want to sell to the American people the brainwashing ideathat we need to deregulate Corporations further and tell us that is the answerto creation of more jobs here in the USA. They also want to sell us the ideathat we should not tax US Corporations because if we do, that will also causethem not to hire and give them more incentive to send more jobs overseas.

CORPORATIONSAND THE GOVERNMENT

Wehear the words, Democracy, Free Trade, Free Market, Capitalism and Republicanswant us to believe that those principles are consistent with GovernmentCorporation Deregulation Policies and lower Corporate Tax Policies.

First of all; take any Corporation and what kind of “Government” is a CorporateEntity? IT IS A COMMUNISTIC ORGANIZATION OR GOVERNMENT IN AND OF ITSELF. Let’ssee what is the purpose of a Corporation? It is to SERVE A BOARD OF DIRECTORS,MAKE THEM MORE MONEY EACH YEAR AND MONOPOLIZE IF POSSIBLE. Does a Corporationcare about serving and taking care of its employees? NO. If a Corporationcould, it would force slave labor to make more profit and cut salaries to $3.00an hour in this country.

Itis not meant to serve the employee but only the Board of Directors. Its solepurpose is to make a profit and as much profit as possible ANY WAY LEGALLYPOSSIBLE.

PURPOSEOF THE GOVERNMENT WITH CORPORATIONS

Sowhat is the purpose of the government? The purpose of the government is toREGULATE CORPORATIONS SO THEY CANNOT RUN OVER THE PEOPLE AND CREATE A FAIRCOMPETITIVE ENVIRONMENT SO THE PRINCIPLES OF FREE TRADE, FREE MARKET,CAPITALISM AND DEMOCRACY CAN EXIST FOR THE BENEFIT OF ALL AMERICANS.

CORPORATIONSAND GOVERNMENT DEBT

Todaywe are not a domestic economy. Today we are a world economy thanks to the USTax Payer and the US Federal Reserve. Corporations care about the US Debt(Money rolling out of the Federal Reserve where there is not enough tax base tocover it); because the more Debt we have; the more it costs US Corporations totradeagainst other currencies on the world market. So it de-values US CorporateStock - the larger the US Debt.

Forme, I do not give a rats butt how our debt affects US Corporations or other WorldCurrencies. Haven’t we done enough already for these countries andCorporations. We bail out the Financial Markets (Corporations Stocks) and leavethe American people suffering.

Thatseems to be the agenda – Save the Rich and heck with the Poor and Middle Class.We send trillions of dollars to foreign countries and ignore the poverty andsuffering of the American People.

CORPORATIONSAND LAWMAKERS

Let’sface it. They are BOUGHT BY CORPORATIONS TO SELL US THIS BULL CRAP. Why DOESN’TTHE US GOVERNMENT DO WHAT IT NEEDS TO DO AND ROLL ENOUGH MONEY (TRILLIONS) OUTOF THE FEDERALRESERVE TO HELP US, THE AMERICAN PEOPLE AND GET THE ECONOMY BOOMING AGAIN?

Whynot give every American a million dollars? Why not? We give millions to othercountries and the rich? Who is the biggest welfare recipient? It sure as hellis not the American People. Let me assure you of that.

WHYIS IT SO HARD TO FIX OUR ECONOMY?

Thereis no incentive for lawmakers making millions a year off booming corporationsstock. Corporationshave bought enough lawmakers that they can influence law and US Policy. Againas stated above; for corporations it would be better for Americans to begetting $2.00 an hour with no insurance, no benefits, etc. They would love toturn us into a third world country on the level of Mexico.

SOWHAT ABOUT CHINA?

Youhear this non-sense we have to be worried about China backing our DEBT. Chinadoes that to a degree but not because they like us; they do it because theyhave to. The US Federal Reserve controls their economy and ifChina doesn’t play by the rules, the US GOV could pull the plug on them. It’slike this. If we put an embargo on China exporting to our country; it wouldsink them as an example. Right now President Obama is working to get China toraise their damn currency rates which they and South Korea and other countriesshould of done years ago.

Butwait, why not. Because the damn Republicans and Corporations have no interestin that happening. Put the whole US Government in a bind I assure you they wouldquickly bring China around. Other countries raising their currency rates wouldcost corporations more money and higher labor rates in those countries.

So from a Corporate perspective they will lobby forever to keep that fromhappening. Thus you see the difficulty Obama is having getting that done.

IMFand CHINESE CURRENCY

Letme say this. If the US Dollar was to be replaced by the Chinese Currency, youwould see WW III. China exists today as a world power strictly because theUnited States financed the expansion of their economyusing money from our Federal Reserve. The US Government is not going to letthem take control of the IMF; NOT EVER.

SOWHAT IS MONEY IN RELATION TO RESOURCES?

Whoeverhas the most power to control the resources of the world, power to take controlof those resources if needed or has the greatest negotiating power to leveragethose resources; controls the bartering power of the world and thus ultimatelyhas power to dictate economic growth in the world.

Ican argue that with all the environmental protection laws on the books in theUSA and the difficulty to tap into our own reserves; this would indicate thatthe US Government's best interest for our country is to use other countriesresources first instead of our own and to try and control their resources asmuch as possible.

Thuswe see the military machine of the USA 10 times larger than any other militaryin the world withthe largest Naval presence. I believe that it was decided and probably secretpolicy that the US Government would preserve our own resources at all costs anduse and manipulate other countries resources to our advantage. Thus we see theuse of Saudi Arabia and other country’s oil and our dependency on that oiltoday.

Theissue today is dependency. We now trade security for oil in that we pay for theoil and provide money to assist other countries to build up not only theireconomies but also their military power to compete against us for controllingthe world resources.

Sowith security threats such as nuclear proliferation to third world countries wehave now cut our noses off to spite our face.

Itis becoming more popular now to rid our dependency on foreign oil in exchangefor using our own natural resources to reduce security threats to our country.

Froma currency perspective and value of money perspective you can argue that thevalue of your currency is directly related to a country’s ability to useanother country’s resources or take those resources throughmilitary means if there is no cooperation between the 2 countries for mutualinterest.

Sofor one, the US has the largest most powerful military in the world whichprovides leverage against other countries for bargaining for trade advantagethroughout the world. Forget the Economic Ratings by FinancialInstitutions. They don’t mean anything to Governments. Resource Control is whatmatters to a government because whoever has resources has the ability to CREATEGOODS AND SERVICES AND CAN ESTABLISH ANY CURRENCY THEY DESIRE AND CAN BARGIN TOMARKET THOSE RESOURCES AND PRODUCTS AT THEIR WILL AND PLEASURE.

Sureif you want to believe that Corporations matter at all costs in the long runand believe in the status quo of how we do business with other countries withnormalized relationships; then you can accept the Republican agenda andCorporate power and Corporate Government deregulation policies and Corporateinfluence in our Gov and lowering taxes on the rich.

Theseare GRAVE TIMES FOR AMERICANS. We need to listen to the 99 and not the 1. The99 movement is right on target to demonstrate on the steps of corporationsbecause they understand where the problems are originating from.

Wehave had a US Government for too long allowing monopolies such as Fannie Maeand Freddie Mac; giving them to much financial control; insurance companieswith too much power and control, oil companies with too much power and control;and we see Republicans wanting to continue this non-sense.

SIZEOF GOVERNMENT

Hereagain we see this non-sense Republican GOP Law Makers telling the American peopleour government is too large and we need to reduce its size. Size of theGovernment has nothing to do with what has been going on for 50 years.

Howeasy it is to blame the size of the government and try scare the Americanpeople with that. Reality is we are a big country with the largest economy inthe world and we have to have a growing government size to REGULATE THE GROWINGNUMBER OF CORPORATIONS AND EXPANDING ECONOMIES IN OTHER COUNTRIES AND THESERVICES AND MANAGING THE RESOURCES, ETC NEEDED TO KEEP OUR COUNTRY STABILIZEDAND PROSPERING.

REDUCTIONIN SIZE OF GOVERNMENT

Whatdoes that do? It creates higher unemployment, puts more people on welfare andunemployment benefits and thus creates a larger deficit. Explain how that willreduce debt or help anyone? They want to brainwash you and scare you intobelieving that we cannot fix the economic problems of this country unless wefirst address the US Gov Federal Reserve DEBT.

FACT:They tell you the debit is too large and it is going to drive us into aneconomic meltdown if we do not addrtess the debt first.

The Republican GOP will say it reduces the US Debt. That is a lie. IT DOES NOTREDUCE THE US DEBT AND BESIDES THAT, THE US GOVERNMENT DOES NOT HAVE DEBT AS WEHAVE ESTABLISHED ABOVE.

Whatit does is help create more unemployment and put more of a percentage ofAmericans in poverty and reduce the middle class thus increasing Corporatepower over the American people. It helps to turn us into a third world country.Selling this brainwashing bull crap to the American people is diabolical andits simply providing more corporate power to US Corporations.

Let'stake a look at it closely. What does it really mean to print money anddistribute it when millions of people are out of work. If there is very littleeconomic infrastructure in place and you lived in a country with very limitedresources or very little potential to transfer existing resources into useablegoods and services; then obviously you would have people with a lot of cash butno way to use the money. The money would quickly lose its value.

Butwhen you consider the potential of resource use or the ability to transformthose resources into useable goods and services, then printing more money makessense and has little negative effect upon the economy as a whole. You look andobserve the magnitude of the UNLIMITED RESOURCES OF THE UNITED STATES and askyourself; DO WE HAVE A DEBT PROBLEM OR DO WE HAVE AN UNEMPLOYMENT PROBLEM.

Whatwas it that drove the economic boom during and after World War II? Was itreducing the US Debt or was it using the resources of this country to putpeople back to work.

Sureif your an International Corporation you absolutely don't want to see moremoney rolling out of the Federal Reserve because that devalues the US Currencyon the World Market and that drives their stock down. My question to you isthis. Which do you care about more; the value of US Corporate Stock or havingMORE COMPETITION IN THE MARKET PLACE AND HAVING MORE PEOPLE EMPLOYED AND PAYINGTAXES? The more people that pay taxes and are employed the less the tax ratehas to be for everyone.

COMPETITIONIN THE MARKET PLACE.

Whatcreates competition and how does that affect prices, labor rates, and jobgrowth. Do you actually believe that by using this debt bull crap as an excuseto lay off millions of people and put them on welfare and unemployment and takeaway their retirement benefits, health insurance, etc is creating morecompetition in the market place? Do you actually believe that is good for theeconomy? Do you really buy into this radical none sense being pushed on us bythe Republican Party?

Let'ssee. So in the name of debt you lay off more people, shrink the size of thework force, cause reductions in pay rates and allow corporations now to gobbleup smaller companies that go out of business, thus creating more monopolizingand fewer people now with greater control over the Gross National Product. Thisof course reduces the middle class further to poverty but it sure will increasethe power of Corporations.

COMPETITIONIS CREATED IN THE MARKET BY REDUCING THE UNEMPLOYMENT RATE, HAVING SUFFICIENTAND PROPER CORPORATE REGULATIONS, AND HAVING A BIG ENOUGH GOVERNMENT, WITHADEQUATE RESOURCES AND MILITARY POWER TO MAINTAIN ECONOMIC LEVERAGE THROUGHOUTTHE WORLD.

Theidea of borrowing money is truly not in the best interest of a family or homeowner. But if you’re theUS government and you control all the resources in the country and half theresources of the world or potential to take control of 90% of the resources ofthe world, does that really mean the US Gov has debt? NO absolutely NOT. Andsure from a global perspective US Debt matters to corporations and itnegatively affects their profits and it affects other countries business withthe US but again I could care less about any of them with so many americanssuffering.

WHATIS THE POTENTIAL OF THE UNITED STATES.

Wehave hardly tapped into our natural resources. I rest my case here.

StephenBibb

NobodyUnderstands Debt By PAUL KRUGMAN

PaulKrugman: Mr. Krugman received his B.A. from Yale University in 1974 and hisPh.D. from MIT in 1977. He has taught at Yale, MIT and Stanford. At MIT hebecame the Ford International Professor of Economics.

Mr.Krugman is the author or editor of 20 books and more than 200 papers inprofessional journals and edited volumes. His professional reputation restslargely on work in international trade and finance; he is one of the foundersof the "new trade theory," a major rethinking of the theory of internationaltrade. In recognition of that work, in 1991 the American Economic Associationawarded him its John Bates Clark medal, a prize given every two years to"that economist under forty who is adjudged to have made a significantcontribution to economic knowledge."

Mr. Krugman's current academic research is focused on economic and currencycrises. At the same time, Mr. Krugman has written extensively for a broaderpublic audience. Some of his recent articles on economic issues, originallypublished in Foreign Affairs, Harvard Business Review, Scientific American andother journals, are reprinted in Pop Internationalism and The AccidentalTheorist.

OnOctober 13, 2008, it was announced that Mr. Krugman would receive the NobelPrize in Economics.

Whenpeople in D.C. talk about deficits and debt, by and large they have no ideawhat they’re talking about — and the people who talk the most understand theleast.

First,families have to pay back their debt. Governments don’t — all they need to dois ensure that debt grows more slowly than their tax base. The debt from WorldWar II was never repaid; it just became increasinglyirrelevant as the U.S. economy grew, and with it the income subject totaxation.

Second— and this is the point almost nobody seems to get — an over-borrowed familyowes money to someone else; U.S. debt is, to a large extent, money we owe toourselves.

Thiswas clearly true of the debt incurred to win World War II. Taxpayers were onthe hook for a debt that was significantly bigger, as a percentage of G.D.P.,than debt today; but that debt was also owned by taxpayers, such as all thepeople who bought savings bonds. So the debt didn’t make postwar Americapoorer. In particular, the debt didn’t prevent the postwar generation fromexperiencing the biggest rise in incomes and living standards in our nation’shistory.

Butisn’t this time different? Not as much as you think. It’s true that foreignersnow hold large claims on the United States, including a fair amount ofgovernment debt. But every dollar’s worth of foreign claims on America ismatched by 89 cents’ worth of U.S. claims on foreigners. And because foreignerstend to put their U.S. investments into safe, low-yield assets, Americaactually earnsmore from its assets abroad than it pays to foreign investors. If yourimage is of a nation that’s already deep in hock to the Chinese, you’ve beenmisinformed. Nor are we heading rapidly in that direction.

Now,the fact that federal debt isn’t at all like a mortgage on America’s futuredoesn’t mean that the debt is harmless. Taxes must be levied to pay theinterest, and you don’t have to be a right-wing ideologue to concedethat taxes impose some cost on the economy, if nothing else by causing adiversion of resources away from productive activities into tax avoidance andevasion. But these costs are a lot less dramatic than the analogy with anover-indebted family might suggest.

Andthat’s why nations with stable, responsible governments — that is, governmentsthat are willing to impose modestly higher taxes when the situation warrants it— have historically been able to live with much higher

levels of debt than today’s conventional wisdom would lead you to believe.Britain, in particular, has had debt exceeding 100 percent of G.D.P. for 81of the last 170 years. When Keynes was writing about the need to spend your wayout of a depression, Britain was deeper in debt than any advanced nation today,with the exception of Japan.

Ofcourse, America, with its rabidly anti-tax conservative movement, may not havea government that is responsible in this sense. But in that case the fault liesnot in our debt, but in ourselves.

Soyes, debt matters. But right now, other things matter more. We need more, notless, government spending to get us out of our unemployment trap. And thewrongheaded, ill-informed obsession with debt is standing in the way.

 

 

M0nkeysensei
M0nkeysensei

Wow, you win the wall of text award. /clap

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