I got a v-mail from a Wells Fargo Home Mortgage representative. Apparently they want to offer me a no-cost refinance to lock my 5-year ARM into a new fixed rate loan. I can only presume this is at a lower rate than my current loan, but haven't talked to them yet to verify that.
Is anyone else getting these calls?
I'm a little surprised, because my credit is shot after I let another house foreclose and Wells owned the 1st and 2nd on that house (I settled the 2nd for about 17% of the balance). And I've settled multiple credit card balances, plus have two remaining unpaid credit cards that I hope to settle as soon as I can. So why are they targeting me with this offer?
Plus, one of the outstanding credit cards that I haven't been able to settle is a Wells Fargo card... So I'm extremely cautious about providing their Home Mortgage division any financial information, for fear that it will get to the credit card division and that they'd sue me for the balance instead of settling with me...
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