I feel I was illegally maneuvered by Wells Fargo Bank back in XXXX of 2007 into aSmartFit Home Equity Account Agreement when I went to them for a home equityloan to pay off credit card debt which I had. I only needed around $ XXXX loan topay off these bills and have a new roof put onto my house. But, I was directed into a " Smart Fit '' Home Equity line of credit of {$170000.00}. And, since my savings and checking accounts were with Wells Fargo, they set it up on an automatic payment system to hide, in my opinion, how much my monthly payment was that they were taking out. And, because they set it up for interest only payments, I have been making payments since XX/XX/2007 and have not seen any decrease in my loan amount. Since they made it so easy to access this account, I have used up the entire {$170000.00} amount that they initially set up ( Wells Fargo, I feel, knew this would happen ). This type of loan practice, I feel, should be illegal! Officials at Wells Fargo know, I feel through past customer history, that giving customers more loan amount than they want, they will use up the amount given them and put them in financial trouble, possibly causing foreclosure on their property. 

I am sure that they have many other clients with the SmartFit Home Equity Line of Credit in the same dire circumstances as myself! The name Wells Fargo came up with for this loan, SmartFit, intentionally deceives the borrower into thinking that they are getting a Smart loan with no principal payment due for the first XXXX years! 

Best time to call : Anytime on my cell phone at XXXXXXXXSincerely, XXXX XXXX XXXX, XXXX. 
