Opening up an account at a bank is not very safe these days. As soon as you go to a bank to open an account, they try to sum up you from the top to the bottom and begin to tall their schemes where you can secure a loan from them. They tell you about all of their financial instruments whether you are interested in them or not. They try to lure you to take housing loan from them. And this happens when you are not even their full fledged customer. This is enough to tell you about their honest intentions. Wells Fargo is one such bank, where they will try to sell you all their loan schemes before you have given your finger prints (or thumbprint, may I say) to open an account. At least this is my experience at Wells Fargo. I would not recommend the bank to anyone. But they do get a lot of customers anyhow. This bank has become notorious for lending to people who are the victims of bankruptcy. The bank sucks dry the hard earned money of such people and later they find that they have been robbed of their home also.
It is an open secret that lot of money lend by banks to people who are running high balances in their credit cards is not for buying homes. Customers are given loans to pay off their debts against the papers of their homes. Little do these hapless fellows understand that sooner or later, they will lose their homes as well.
The math involved in home loans is dishonest to start with. You get a loan for the renovation of your home, whereas the reality is that you use the loan amount to pay off your debt to the credit card companies. If you take such a home loan , you will find that even after 2 years of repayment, the principal amount stands as it is. All of your repayment goes into servicing the interest portion. It is certainly not ethical on the part of the banks to sell home loans to let people pay of their debts on credit cards.
It is clear to one and all that the banks are not interested in selling home loans per se; they are not even trying to help the customers. They are simply interested in milking a few more dollars from the hapless fellow.