kittyburton
Junior Member
What is the name of your state (only U.S. law)? Minnesota
We have a line of credit from Wells Fargo. Husband and I are now going thru divorce. Fearing he might max the line of credit, I froze the line of credit with Wells Fargo.
Two days after freezing the line of credit (I have the documentation from the bank the line of credit was frozen) husband went to Wells Fargo and they allowed him to max the line of credit.
Contract with Wells Fargo states one party can freeze the line of credit but two signatures are required to unfreeze (in this case me and my soon to be ex-husband's signatures would be needed).
The contract is silent as to what remedies I have if they breach the contract. Of course they can sell my house if I do not make the payments.
Wells Fargo at first told me too bad, I was on the hook. I sent a letter to Wells Fargo's main office, Minnesota Attorney General and Comp controller of currency. Wells Fargo keeps telling me they are working on it...in the meantime I keep paying interest only payments. My intent was to refinance the house and buy husband out. Mortgage company advised that because of the addtional debt, the debt to equity ratios are off and they will not make the loan. I must sell the house.
What Can I do? Is there a statute that protects me from a situtation like this?
We have a line of credit from Wells Fargo. Husband and I are now going thru divorce. Fearing he might max the line of credit, I froze the line of credit with Wells Fargo.
Two days after freezing the line of credit (I have the documentation from the bank the line of credit was frozen) husband went to Wells Fargo and they allowed him to max the line of credit.
Contract with Wells Fargo states one party can freeze the line of credit but two signatures are required to unfreeze (in this case me and my soon to be ex-husband's signatures would be needed).
The contract is silent as to what remedies I have if they breach the contract. Of course they can sell my house if I do not make the payments.
Wells Fargo at first told me too bad, I was on the hook. I sent a letter to Wells Fargo's main office, Minnesota Attorney General and Comp controller of currency. Wells Fargo keeps telling me they are working on it...in the meantime I keep paying interest only payments. My intent was to refinance the house and buy husband out. Mortgage company advised that because of the addtional debt, the debt to equity ratios are off and they will not make the loan. I must sell the house.
What Can I do? Is there a statute that protects me from a situtation like this?
Last edited:
