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Wells Fargo Home Mortgage Complaints & Reviews - Loan Modification

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Wells Fargo Home Mortgage

Posted:    pryvet1278

Loan Modification

Complaint Rating:  81 % with 16 votes
Wells Fargo Home Mortgage is a horrible company to deal with for a loan modification. They not only have been stalling me, but kept insisting to a Loan modificaton company representing me that I had requested a short sale and supposedly that was holding up my loan modification. They were working on my loan modification, short sale and foreclosure all at the same time. I received a contract in via a UPS letter in my door with five days to return it with a contribution fee. When I spoke with my rep at the loan modification company, she told me that there was no "contribution" needed and to return the contract because it was such a wonderful deal. Then, after I signed the contract, which by the way, was not a very wonderful deal, I'm still looking for some K-Y Jelly or Vaseline to ease the pain of being bent over, I get an e-mail from the loan mod rep who said that the "contribution" is required, but that that was not a part of the negotiation that was reached, but is needed for legal fees that cannot be added to to the back of the loan. Now, my 218, 000 balance is now 242, 000 owed and I have to pay their legal fees after I have had to pay out 3, 000 to fight to get a loan modification, which since I sent the contract back without the "contribution" is most likely null and void. What are we supposed to do when they do this sort of thing? Wells Fargo Bank took Federal Bail out money, my money, your money, and they are treating their customers like this. THey gave me 5 days to get that contract and "contribution" back to them, so it was not like I had a lot of time to think about anything, yet they get months to stall and require documents faxed again and again and yet again. I almost want to be out of this mess, but, I have to let the game play out because if the loan modification is not accomplished, then the loan modification company has to pay me back the money I paid them. And of course, I'll need that to move.

To everyone out there that has been fortunate enough to survive this economic mess without losing their home, consider yourself very blessed. But, don't think for one minute that if something happens to you and you have a mortgage with Wells Fargo Home Mortgage that they will live up to their promise to guide you through. The only thing they will guide you through is a web of lies and frustration until they guide you through your door for the last time.
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 23rd of Jul, 2009 by   zionbob 0 Votes
I was laid off of my job in October of 2008. As soon as the TARP passed, I filled out all of Wells Fargo paperwork for a Loan Modification, as I was entitled to. It has been months and months and every time I call Wells Fargo, they tell me to check on their website, which just tells me to call them. Why did they get TARP money? Why aren't they accountable to anybody?
 23rd of Jul, 2009 by   bobtheman 0 Votes
They're not accountable? You just said you were ENTITLED to something because you can't pay your loan.
 11th of Oct, 2009 by   Bob Warner 0 Votes
Our journey with Wells Fargo started with the down turn in the economy and my four way heart bypass. In November of 2008, we started conversations with Wells Fargo, regarding modification of our home loan. We felt that having our home loan for over twelve years and never missing a payment, that we would have little problem getting something done. Over the course of nearly a year, we made countless calls, only to hear, “We are reviewing your paperwork and we will let you know what we will do, once we have completed this review”. After missing three payments, we received a notice, that they were foreclosing on our home and it would be sold on June 6th. After more phone calls, we were told that they could have an offer for us, but it could be as late as the day before our home would be sold. This was unacceptable to us and we were forced to file bankruptcy to save our home. Just three weeks before our home sale, we received a letter giving us a three payment reduction with a new review after the ninety days. Our attorney advised us, not to accept the offer. Time after time, Wells Fargo has requested copies of the same paperwork, Hardship letters, Financial Statements and Payroll stubs. We have supplied this information at least five times over the last ten months. Recently, we jumped at the opportunity to attend the “Well Fargo Home Modification Event” in September at the Phoenix Convention center. I spent four and half hours, talking to Well Fargo staff. The last two and half hours were spent with Lindsey Aekins (Direct line 803-835-8537). I was informed that Lindsey was a negotiator and had the power to approve any changes to our loan. Lindsey told me that she would get us one of two plans and both plans would reduce our $1431.00 payment to under $1000.00. She sent a number of emails and made quite a few phone calls. After two and half hours, she informed me, that she needed information from her office staff in South Caroline and they were gone home for night. This was Thursday, the last afternoon of the three day event. Seeing that, I was saddened by not having the matter resolved, Lindsey said to me “Don’t worry, Mr. Warner, we will get an answer for you no later than next Tuesday”. I asked her, what I could tell my wife and Lindsey replied “You tell her, that your payment will be less than one thousand dollars and it will start in October”. Lindsey walked me to the door and as we were standing there, a young man asked me if I would rate my visit with Wells Fargo. “Would you give us a five out of five?”, he asked. I replied “No, because nothing has been resolved at this point, ” does this kill the deal? We waited to hear from Well Fargo and Tuesday came and went. I waited until Thursday and started calling Lindsey. Over the next few days, I called ten times. Six times, I left a voice mail requesting she call me. Four times, I could not leave a message because her voice mailbox was full. A week of hearing nothing, I called Lindsey at 5:30AM on Thursday, September 24th, knowing it was 8:30AM in South Carolina. Much to my surprise, Lindsey answered the phone. I was very nice and explained to her that it was very important that we get our payment reduced. After spending sixty minutes on the phone with Lindsey, she informed me that she needed to walk over to another building and talk to another staff member about our loan. I offered to stay on hold, not wanting to hang up. She said it was a very long walk and would take quite a few minutes to get there. She assured me that she understood how important this was. She said she would be working late and promised to call me back before the end of day. She never called back and efforts to reach her went to her voice mail. On the afternoon, October 6th, I received a call from Linda Parker (515-324-2376), who said she was a Senior Loan Specialist with office of the President of WFHM. Linda stated had they were dropping my interest rate to 2.6% from 5.5% and my new payment would be $1361.70. I replied that I could not understand why my payment was only lowering seventy dollars. Ms. Parker replied she needed to look into why the payment was not lower and would call me back the next morning. I never heard from Ms. Parker and efforts to call her, only results in leaving voice mail messages.
We are asking you for any help you can provide, getting Well Fargo to understand the impact their actions, or lack thereof, has on people. To me, the way, they do business is clearly heartless and are not in the best interest of the customers.
 17th of Oct, 2009 by   dmhb 0 Votes
We are going through the same thing. We have submitted the loan modification information 4 times so far in the past 5 months. My husband has been laid off twice in the past two years. One time we were denied, then got involved with the Making Homes Affordable people. We are still getting just as much run around from Wells Fargo, my husband was told that a modification plan was finally approved and the paperwork was mailed out on October 10th. Well, it's the 17th, still no paperwork in the mail, so my husband called them, and they said they never mailed anything because they still haven't received any of the information that was sent in the last 4 packets...they don't even have a record of our being denied!!! I have all the paperwork handy w/ letters from Wells Fargo, and their own people in loss mitigation can not find paperwork THEY SENT US!!! I'm so frustrated, I'm about to find a place to rent and let them just have this place...
 4th of Dec, 2009 by   holliscr 0 Votes
I have been trying to get loan modification help for over a year...I have sent them COUNTLESS documents...including proof of income, profit loss statements, hardship letters, tax returns and financial worksheets. All they do is stall...every 30days now they call me and ask for the SAME DOCUMENTS!!! Now they are asking for proof that I had a roomate for 3 mos!!! I have never been late on paying this mortgage...but now I am out of money and cannot...all they want to do is stall until I become deliquent. And to day I complained of the cost of all this faxing and I was told that I could goto any wells fargo bank and have them fax it for me..."didnt anyone ever tell you that??" she asked?? well NO THEY DID NOT!!! this is the worst and most unhelpful company on the planet.
And I read today in the new york times that people with mortgages with CHASE JP MORGAN have gotten trial loan modifications without all the documentation...there just are no more hours left in my day to continue to gather docs and fax them to NO AVAIL.
horrible company...
 31st of Dec, 2009 by   loan modification or credit ruiner 0 Votes
In the history of our country there have been many scams but to be able to include taxpayer money and get governmental backing, that truly sets these scumbags apart from the rest. I started on a loan modification process in March 2009 after the company I worked at for 20 years sold and I was offered a job with the new company for 40% less (but not told until the day of ownership change-despite repeated questions about) so I
called Wells to see about the loan modification process and after 2 mo. of sending faxes repeatedlty they said
I would start in July 2009 and told me not to pay June's payment as it would only "mess up" figures. I paid all 3 trial payments and contacted Wells before my third was due to see what new payment would be. They said keep paying trial amount until you get a final package. I lost my job at the end of November 2009 and called Wells the next day to tell them .A week later I recieved their final packet. Unemloyment was much lower than what I was making, they said there's nothing we can do except re-start from srcatch or take new payment
that was almost $ 100.00 a mo. more than trial period. I was shocked and aangry and called Wells on Dec. 10th
of 2009 and told them when reading the packet that there were discepancies in figures I wanted an explanation for-including a fully stocked escrow that was now saying it was almost $ 3, 000.00 short with a plan to add it back into my mortgage-also there was the small thing of WHERE DID MY TRIAL PAYMENTS GET APPLIED and WHY IS MY PRINCIPAL OVER $ 1, 300.00 HIGHER THAN 2 MO. BEFORE. I have spent an average
of 3hrs. per day on the phone for the last two weeks in trying to get an explanation of what happened to no avail with excuse after excuse. Finally I pulled every document I have from Wells and made a spreadsheet which I have repeatedly asked them to go over with me to get to the bottom of and correct. I actually did all the work for them and still they don't want to discuss-hey I'm only the homeowner/customer. They also will not give me a corporate phone number to complain/resolve and told me I don't have the right to that.
WELLS FARGO AND THEIR REPRESENTATIVES ARE SOULESS DOGS-I HOPE YOU GAG ON YOUR CAVIAR>
Have a great Holidays to everyone out there and hold on because every dog has his day and these scums will
take their place along the biggest scums in history when all facts finally boil over their protective lid.
WELLS FARGO YOU SHOULD BE ASHAMED, ITS TAXPAYER MONEY YOU'RE TRYING TO STEAL.
 5th of Jan, 2010 by   izzabel 0 Votes
so what did you end up doing? did it ever get resolved? this is what we have been dealing with as well.
 8th of Jan, 2010 by   ANTHONY CALDERONE 0 Votes
HI IAM ONE OF SO MANY FRUSTRATED HOME OWNERS OUT THERE AND IF YOU ARE ONE OF US DEALING WITH WELLS FARGO I WILL RECOMENT YOU CALL THERE CORP OFFICE.
TALK TO SOME ONE IN THERE. HERE IS THERE NUMBER 1800-853-8516
 24th of Feb, 2010 by   paul guzman 0 Votes
i agree with you about wells fargo.these bank should never get any govt, help any time it should go out of bussiness. only public demostrations at the bank will help or a boycott.
 24th of Feb, 2010 by   paul guzman 0 Votes
i agree with all your comends a welss fargo mortgage modification program . it seems like your speaking to some person from another country. wells fargo should be investigated and or a b oycott by persons doing business with them
 25th of Mar, 2010 by   foundoutthetruthaboutwfhm 0 Votes
Yes I can concur with everything that has been shared WFMC is not trying to help individuals stay in there homes instead there making people pay more and more money. It is vital that you keep everything you send to them every receipt, and definitedly the letters. Its a scam, but you know what the perputrators will be caught. They will be brought to justice. Because when you go tapping with the lively-hood of my family your going to be dealt with. I'm not the one. Let's deal with greed in America. Greed is everywhere not just with Wells Fargo but other banking industries. For instance Capital One Auto Finance Co. They will do whatever they can to get your money and never, never, never give anyone your banking information. I don't care why they need it. We as human beings at some point have got to start protecting our identity. Always get a cashiers check, money order or get a Walmart debit card. In this way your protected.

This economy has made these peoples heart turn corrupt but it will profit them anything. My grandma use to say there's more than one way to skin a cat. I believe that, I believe that there's a end to everyone who does wrong to another individual. I'm not speaking death-and dome but theres other ways people are dealt with. Theres famous saying you reap what you sow and what goes around comes around.

Someone reading this needs to be encouraged today and know that better is the end of a thing than the beginning thereof...
 25th of Mar, 2010 by   Mark58 0 Votes
I, too, had to fall into a loan modification with the infamous 'Wells Fargo Home Mortgage" because of brief unemployment. I spent the better part of 3 months yelling and screaming at them for losing all of the paperwork I had to submit (fax) to them. Toward the end...I suggested to my wife to fax all 27 pages of my loan modification about 6-8 times a day...and call them everyday to see if they had gotten all the documents. We harrassed them by fax and phone daily...until the day came to make my first payment under the new loan modification. They refused my first payment. Without their knowledge, I called my U. S. Congressman's office and told them my story. I faxed all of my information, my loan modification, and all correspondence from Wells Fargo to the congressman's office for review. The Congressman's aide told me to make another attempt at the first payment and see what happens...only this time let them know that I had contacted my congressman's office. I called Wells Fargo, as instructed, and made another attempt to pay my first payment...they refused it...so I let them know that they will now suffer through an investigation from my congressman's office because I had already informed my congressman of my situation and their (my Congressman) office told me that they would intervene on my behalf if Wells Fargo refused my payment. So...in short...I gave Wells Fargo a choice...except this first payment under the loan modification and properly credit it to my loan account number...or get ready for war. They graciously excepted my payment and properly credited my loan account. I have had no problems with them since and they have continued to credit my account in a timely manner. WELLS FARGO...I AM WATCHING YOU...BEWARE!
 27th of May, 2010 by   kelliepp09 +1 Votes
WOW, this all sounds just like what I AM going through! Round and round we go and now I suppose I owe upwards of 10, 000.00 to this lying compnay- I told them I am going to pursue all legal actions - be it civil, taking it up with the Gov. of the state etc. Again, they tell me to send in all my docs yet again and that I had to be sent to a different department. I am not employed and I am the only one on my loan - I make 650.00 child support and I am re-married and my husband is making not really enough to get by and they said that we had an overage of almost 200.00 per month = I asked them how they came to that! I again went over my bills and I am negative almost 1300.00 a month. I have been looking for employment for YEARS now - begged, you name it and NOTHING. I do not want to freeload, I want to make my house payment to a company that I can trust.
 1st of Jun, 2010 by   ANON 909 +1 Votes
WELLS FARGO IS CORRUPT. DISHONEST. NOT LIKE AN AMERICAN COMPANY. THEY BEHAVE LIKE THE MAFIA.

I GOT A DIFFERENT PERSON AND DIFFERENT ANSWER EVERY TIME I CALLED. THEY KEPT DRAWING OUT THE LOAN MODIFICATION IN ORDER TO CHARGE FEES. 20 MONTHS AND STILL NOTHING HAPPENED. I CALLED DAILY AND SENT IN DOCUMENTS EVERY THIRTY DAYS.
THEN MY HOUSE WENT INTO FORCLOSURE AND THEY DENIED MY MODIFICATION ONE HOUR PRIOR TO AUCTION. I FILED AN UNNECESSARY BANKRUPTCY TO STOP THE FORECLOSURE. I CAN PAY MY BILLS AND MORTAGE. I HAVE 50% EQUITY IN MY HOME. THEY WERE AFTER IT. THAT'S ALL.

THEN THEY SENT THE POLICE TO MY HOUSE WHEN I SAID I WAS DEPRESSED. OH DUH!

THEY ARE A DANGEROUS COMPANY. I PRAY THEY GO OUT OF BUSINESS SOON SO THEY CANNOT PREY ON THE AMERICAN PEOPLE.
 26th of Aug, 2010 by   treed6@yahoo.com 0 Votes
I have had same issue and tonight came acrosss this article:
http://www.alternet.org/economy/147955/treasury_makes_shocking_admission%3A_program_for_struggling_homeowners_just_a_ploy_to_enrich_big_banks/

Apparently HAMP is just a cover to give the banks more time to foreclose. That's why they lose paperwork all the time. If they foreclose on too many at once or modify too many at once, it would put them under. This program makes it so they can stall the consumer and foreclose whenever they feel like it.
Class action suit is the only way to go.
treed66@yahoo.com
 1st of Oct, 2010 by   Janis Konig 0 Votes
Wells Fargo Home Mortgage is the worsed I have dealt with. They refused a loan modification for no reason, refused to use my income to quality me as they took back the property for less than market value! They DISCRIMINATED AGAINST ME AS I AM IN REAL ESTATE AND THEY HATE REALTORS!! The bought the property at sale for thousands below market value and refused to modify the loan for us BECAUSE WE ARE IN REAL ESTATE!! DO NOT EVER USE THIS COMPANY BECAUSE THEY WILL DISCRIMINATE AGAINST YOU!
 11th of Nov, 2010 by   fed up 0 Votes
Well... after reading all of the complaints about WF here, I had to chime in. I started the loan process about 6 months ago... I had submitted all info requested, and was told it was in underwriting... after being told all my docs were in, but then getting requests for more docs twice... After " the app was in underwriting"... got a request for more pay stubs and was told again, that was all they needed. I guess the first 6 weren't enough... then...after numerous attempts to find out the status... I arrive home late yesterday to find another fed ex envelope at my door requesting supplemental info to see if I even qualify for this program? Hello????? I want to scream and pull my hair out. So I called... again... and was told that all paperwork needed was in. According to the "notes" on file. Then they sent the envelope. Shouldn't I have gotten this paper in the beginning of the process?? HAHAHAHAHAHAHAAHA... off to the funny farm. These people are ridiculous. Then I was told I was still a month behind on my payments, after I went on their website and paid the dollar amount that THEIR website told me to pay to bring the loan current. Trying to get a prepayment now?? Really?????!! Are you freaking kidding me???? I have never (well I shouldn't say this) ever dealt with people with such audacity in my life. I will probably get a forclosure notice in the mail even though I am current. :) In the world of suck? These people win hands down. I think I am going to report them to the Attorney General. Just had to vent, and to all who are going through this as well? I feel your pain. It's bad enough to have to go through this to begin with. Good Luck To All!!
 12th of Nov, 2010 by   LAMBB 0 Votes
Report them to Division of financial institutions and the division of real estate. They are the governing agencies over banks and modification companies...
 21st of Nov, 2010 by   ja8669 0 Votes
Wells Fargo are liars and thieves. When I first started having problems they informed me to call HOPE and also contact the Home Affordable Modification Program. After months of getting nowhere and multiple trials payments I am told that the “Investor” that now owns my loan does not do modifications through the Home Affordable Modification Program. I was also told my sale date set for Nov. 24, 2010 would be postponed until Feb. 22, 2011 while I went through another set of 3 month trial payments. I found out today the sale is in four days.

The mortgage on the house next door was owned by Wells Fargo. The mortgage amount was $315, 000 and Wells sold the house for $256, 000 to an investor. How does that make sense unless the government is paying Wells the $59, 000 LOSS. This all doesn’t make sense. I owe $460, 000 on my home and it is now worth $340, 000. So instead of making arrangements for me to pay off the load with a low interest rate Wells would rather sell the house to investors and get reimbursed the $120, 000 LOSS from the government which means the tax payers. I am not looking for principle reduction all I am asking for is a reduction in the interest rate and piggy bag a portion of what I owe so when the economy turns around everyone will get paid. Wells made money when they sold my loan to investors and now Wells will get paid again from the government that guaranteed the loan.
 5th of Apr, 2011 by   hdlowrider 0 Votes
i agree with all of these comments.i've been going through this bulls@#! since october of 2010, and still no progress.fax this, send that.i'm just about ready to throw the towel in!!!

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