Posted by John_NorCal on 10/3/08 11:03am
Msg #266228

Wells Fargo Bank taking over Wachovia

I imagine that this $15billion takeover will give WFB a bigger foot print across the country.

Reply by Linda_H/FL on 10/3/08 11:05am
Msg #266229

Not without opposition from Citi... n/m

Reply by Sylvia_FL on 10/3/08 11:44am
Msg #266231

Re: Not without opposition from Citi...

If Citi takes over Wachovia it will be with government help apparently. Wells Fargo can do it without government help.

Reply by Yowheelz on 10/3/08 3:13pm
Msg #266258

I've been really happy with Wachovia, hope I like WF n/m

Reply by Sylvia_FL on 10/3/08 4:05pm
Msg #266268

Re: I've been really happy with Wachovia, hope I like WF

They are fighting over it right now. Citigroup says they had an exclusive agreement with Wachovia and Wells Fargo is breaching that agreement. Apparently this is sending Wachovia stocks up (was $6.21 last trade - closed previously at $3.91)

Reply by John_NorCal on 10/3/08 4:19pm
Msg #266272

Looks like they'll have a showdown at the OK Corral n/m

Reply by jba/fl on 10/3/08 6:45pm
Msg #266291

Re: I've been really happy with Wachovia, hope I like WF

I was talking with an officer at Wachovia this am about the new deal - they are more excited about this turn of events than w/Citi.
With this merger they will be the bank with the largest amount of deposits on hand. This is good news all around. I hope it goes this way in the end - obtained w/o govt. assistance.

Reply by Linda Juenger on 10/3/08 9:44pm
Msg #266305

I have done many, many re-finances with borrowers who

were so glad to get rid of WF. They hate them. My percentage rate for getting rid of WF is much higher than doing actual WF loans. Have no idea why borrowers feel this way and don't ask. This should be interesting.

Reply by Sylvia_FL on 10/3/08 10:02pm
Msg #266308

Re: I have done many, many re-finances with borrowers who

Hmm, we took out a mortgage on our house a couple of years ago with Wells Fargo. Not had a problem with them at all.

Reply by Linda_H/FL on 10/3/08 10:14pm
Msg #266310

Our mortgage is with Wells Fargo - I have no problem

with them...

Reply by GWest on 10/4/08 11:35am
Msg #266329

Re: Our mortgage is with Wells Fargo - I have no problem

I have been with WF for over 15 years and have not had any major problems. They have my first mortgage on my present home as well as all of our money.

Wachovia is a different story. My son is in the Air Force. When you are on active duty, all loans that you have when you go in are to be lowered to 6%. WF had no problem lowering his interest rate on his credit card, but to this day, Wachovia refuses to lower the interest rate on his car loan. We have been trying for 2 years to get this done. Maybe if WF takes over we will finally be able to get this done.

Reply by Linda_H/FL on 10/4/08 11:52am
Msg #266330

"all loans that you have when you go in are to be lowered to

I'd hit them for reimbursement of two years worth of interest payments made over the 6% too...

My daughter had a car loan with Wachovia - she was not happy with them...

Reply by GWest on 10/4/08 12:07pm
Msg #266336

Re: "all loans that you have when you go in are to be lowered to

We plan on that once we get the lower interest rate. We have kept a copy of all communication with them. WF made it retroactive on his credit card, so we will see.