Ask Terry Questions Wells Fargo

Wells Fargo

By Terry Savage on July 14, 2021 | Wild Card

With Wells Fargo stopping its credit lines does this affect anyone who have is does this affect anyone who has a mortgage with them.. I do. Do I need to do anything

Terry Says

No, it has no impact on your mortgage. They just decided it wasn’t profitable enough — given the risks — to keep lending to people who don’t have security (like your house) on a mortgage loan. Keep paying. And if your rate is over 4% this is the time to refinance — either there or elsewhere!

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