Area man's battle for 'American Dream'

Jayson Davis say he's heard closing day is coming soon for months.
Jayson Davis say he's heard closing day is coming soon for months.

Posted by Bryan Henry  -  bio | email

MONTGOMERY, AL (WSFA) - Jayson Davis auctions off just about anything with wheels including motorcycles, cars, trucks and RVs. He has a good paying job.

He checks out the horn on a damaged two-wheeler. Now if he could only blast his way through the home-buying experience, life would be a lot easier and not such a nightmare.

"I totally believe in turning the other cheek, but there's only so many times you can," he explained.

In short, Davis is at his wits end with Wells Fargo. He found the foreclosed home he wanted to buy off Atlanta Highway. The house is priced at $60,000.

"I got confirmation from Wells Fargo branch welcoming me as a customer. They called and told me to find the house and we'll get the financing done," said Davis. That was back in April. Now in mid-July, Davis says Wells Fargo still can't seem to close the deal despite repeated promises of a closing date any day now.

Ironically, the home is actually owned by Wells Fargo, according to Davis, making the repeated delays even more puzzling. "I would call every two days max but the last two weeks I've called everyday. I would get 'underwriting' or 'I don't know.. let me call you back,' said Davis.

Those callback have never been returned.

Some folks might wonder why Davis doesn't just walk away and do business with another lender. Davis says it's just not that simple.

"I've paid earnest money..,paid for an appraisal and an inspection...all costing me $1,100. It's not a whole lot of money, but I don't want to walk away from it," Davis said.

Wells Fargo officials in Montgomery and its mortgage headquarters in Iowa declined to answer answer questions regarding Davis' case but did issue this statement:

We cannot discuss specific loan applications due to customer confidentiality considerations. Wells Fargo strives to work closely with our customers through loan application and approval. While no one benefits from a cumbersome or lengthy process, we want every homeowner to be successful in their home ownership experience. That's why it's vitally important to fully understand the borrower's situation, their ability to repay the loan and the risk associated with each loan we make. For a variety of reasons, that process can sometimes take a bit longer than desired.

"I'm just asking Wells Fargo to do business, so I can enjoy my life with my kids," said Davis, anxiously waiting to be in the driver's seat as a new home owner.

Davis did receive some encouraging news late Thursday. Wells Fargo called and said it needed more documents, but Davis should get a closing date by Friday.

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