Blogger is being a little weird tonight. So, as you can probably tell, it's not allowing me to change the settings. It's also not remembering defaults.
Today was a decent day at work. All stats in line. I came home and went for a run, which concluded at the mailbox. I finally got a letter from Wells Fargo regarding my request for hardship forbearance. Big. Fat. No. "There must be 12 months between forbearances." That wasn't in the fine print of my application paperwork. Yes, I read it.
It's not that we're actually under financial hardship right now, but this loan is too expensive. Several months ago I called to see if we could reconfigure it and make the payments more manageable. Big. Fat. No. "Private loans serviced by Wells Fargo cannot be refinanced."
Dear Wells Fargo, I seem to remember the government handing you a $25,000,000,000 check, basically federalizing your company. But, of course, I'm reaching, as we all happily ignored the technicalities of what the bailouts meant for the public.
Nothing like a little red tape to ruin a perfectly good day. Now I'm just pissed about the government in general.
"Weapons, not food, not homes, not shoes, not need, just feed the war cannibal animal..."
Good night!
Dominic is in the same boat with Sallie Mae. We were trying to get his loans subsidized through the Department of Education, but it wasn't working even though the DOE told us we could. There is supposed to be some fine print that says if the private loan company does not give you a loan repayment you can afford then you are eligible to consolidate. I found it in an article here: http://ranprieur.com/misc/debt.html That was before his June 2011 update.
ReplyDeleteIs your loan federally insured? If so, have you looked here: https://loanconsolidation.ed.gov/AppEntry/apply-online/appindex.jsp ?
ReplyDeleteI don't know what Wells means by you can't refinance. It probably means that Wells won't originate a loan to replace the existing loan. But it probably doesn't mean that someone else won't. I mean, you're entitled to totally pay off your loan in one lump sum without penalty, right? If so, then someone else can make money by undercutting what Wells is charging. Where you look to get such a loan, I dunno, though. I would check with some other big bank. Note that's only if you're not federally insured and therefore seemingly eligible for the government loan.
Good information from Peter and Chelsea gave, things to look into for sure
ReplyDelete