Wednesday, August 6, 2008

Wells Fargo HELOC - APPROVED

I just had Wells Fargo approve my HELOC application under the same parameters as the Citibank line that was frozen back in April 2008. The Wells Fargo appraisal came in 4% below the appraisal Citibank based their HELOC on in February of 2007....Hardly what I would call "Substantual Decline in Value"

I worked with Sunny Kumar (858-457-6625 or email) who knows what he is doing and understands the shortcomings of the underwriters. He has been amazingly responsive and moved my application along at light speed.

Furthermore, anyone that feels they have incurred damages as a result of Citibank freezing their HELOC, I would encourage to contact attorney Brian A. Rishwain (310-770-2410 or Email)
I have sent a package to Citibank including my new appraisal in order to get Citi to drop the 3 year early termination fee....which is absurd!