Wells Fargo review: loan modification 58

I agree wells fargo is not out to help there customers only to disgrace them, make them feel ashamed of needing help and make you well aware of it. I aslo applied for a load modification and was denied several times stating my wife can afford it on her own, we are months behind and just wanted to get back on track with modification not asking for them to give me my house for the bubble just allow us the mod so we can pay our mortgage again, add the penalties and fees dont care just want to be back on track and not in a state of depression anymore. shame on you wells fargo, what did you do with the money the government gave you to help people like us out.

In 2015 Wells Fargo began to implement a new procedure that will require home owners to go through the Re-entry department if previously been considered for a Modification. The re-entry department will analyze your hardship and financial situation in order to determine if your account is eligible to be re considered for a Wells Fargo Modification.
With the huge volume of accounts Wells Fargo receives from the Re-entry department that have been deemed eligible for reconsideration its very common for it to take up to 2 to 3 weeks just for the Relationship manager to get the file and review it for completion.
In our case not matter have many times we have submitted the complete requested documents package to the Re- Entry, we are being denied, by Wells Fargo Mortgage claiming due to the property negative Net Present Value (NPV) evaluation and that we did not provide all the required documents.. When we request a full appraisal and which documents are missing in writing, we are being told by Wells Fargo Mortgage employees, “We are not in Loan Modification Review therefore we don’t qualify for an appraisal to determine the correct NPV. It should be noted, numerous request for Wells [censored]ro Mortgage to provided us with how their arrived at the NPV have been ignored.This is a process the bank has implemented to make sure they can navigate around Dual Tracking Laws to deny a home owner from ever being consider for a Loan Modification and to unlawfully foreclose on home owners.It is therefore our contention as Home Owners Wells Fargo Mortgage is operating in bad faith to continue to lead us and other venerable home owners down the path of losing our homes, no matter how much we try to do the right thing by honestly working to save our homes from foreclosure by a Bank with a document history of out-right fraud and deception to its customers.

Yes, go to icansuemylender or whatever site you want and throw your money away … or send it to me and I'll put it in my fireplace to start a fire….same result either way….

Hi, just like to place a complaint as well, it being 3 years of wells fargo is really ennoying . Its abused for a customers who were with fargo for long time, . No help from wells [censored]o, what is the use to call in and ask for "hardship" my husband sufer a stroke, this is a big "hardship", I tried to modiy my house in 2009, 2010, 2011, 2012, 2013, Every year i was dragged for a year, all papers at my end was supplied to the bank for a modiciation. Noone never got back to me, when i was calling to the bank ask for a signed person, i come to know from other representaing not longer with the bank. What king of trick is that. Instead of help people with "hardship" Wells Fargo Bank puts you in more trouble. After which owners ends up in forclose status.
2013 i stard again wiht modiciation on the house thats what i was told. After fax all my document to the wells fargo, after was asign with some one by the name Marine Villarieal who was gathered all my info from me, stated it last 010314 friday everything is fine, all papers in, will be forwarded to underwriter, suddenly on monday 010514, called back to me by questioning me regarding my documents again, which was collecting document two month priour before forwarded them to underwriter, also had no manners to talk with the client. . I think its a big abuse towards people who alrealdy suffering "hardship" someone really needs to look in that matter. Irina Glelizer

There comes a time when you wonder why you try to be a good and faithful customer to a business. We have been great customers to Wells Fargo anent our home mortgage. In November of last year, my partner was laid off.

When January came round and the industry was not picking up, we thought we better contact Wells Fargo and let them know we might be having problems in a few months.

We contacted them and they told us to write a "hardship" letter and fax that along with all our financial information. We got it all together complete with a lovely spreadsheet with all our finance info laid out. Little did we know that the process would take over seven months! Then to our dismay and horror, they sent an overnight letter saying, "As we discussed..." Well, first off, "we" did not discuss anything! Their offer was to let us pay half our mortgage for three months then have a balloon payment of almost $8, 000.00. Then on the 4th month they "might" be able to do something for us. How the hell is that supposed to help?

I called them and said, "Hey, what's this? We have always been good customers who have been a payment ahead on the mortgage and you offer us this lousy deal?" They guy, "Derrick" went over our info and found that somehow they had lost my income information, and had my partners wrong. How, I'm not sure as over the seven months we faxed all the info at least 3 or 4 times! He said, "Don't worry, we can get the updated info to the "negotiator" and they can re-work this. It is clear you have a surplus money at the end of each month." (By the way - you will NEVER get to speak to the negotiator.)

I dutifully faxed my pay stubs to them within the next few days. A few weeks later, they contact me and let me know everything was going fine. HA! What a load of horse pucky! I found out on that call that they set up the lousy deal we told them not to do and would have been expecting $8, 000.00 in three months. They did this without a signed document to do so. I told them what had happened on the last call and even though they admit they made a mistake, they told me that since we "declined" their "offer" we had to start from the beginning all over again.

After seven freaking months of work! I was so angry I thought my head would explode like a frikin cartoon character! No matter what they would not budge and I would not be allowed to speak to the negotiator who worked on our loan modification request.

My solution: I am going to find others like me in the state of Maryland and we will, as a group contact not only our elected Representatives, but the Attorney General's office. If need be, this may turn into a class action law suit. I am so sick and tired of companies like Wells Fargo treating good customers like crap.

We have never missed a payment and we were always a payment ahead until they started delaying our process. Stay tuned for more on this. We will become Wells Fargo's nightmare.

We are good customers and we deserve to be treated better!

I've been trying for 3 months to know if I qualify for a loan modification with Wells Fargo and ever since I have been lied and cheated on.
The first time, I was denied because they supposedly never received a fax with the additional information they were looking for. I still have the confirmation page from Staples...
So, what I was told after this fiasco was to send the information by mail (which I did; registered) and call a couple of days later to make sure it was received. I did and I was told the information was received and that "they were working on my case". Two weeks later, I receive a letter saying "we are unable to adjust the terms of your mortgage" because "we have been unable to reach you to discuss your situation". BS! I was never contacted. No phone calls, e-mails or letter.
So I call again, pretty pissed off at that time. Same story: I need to pre-qualify again. I spent an hour to try to talk to the person's supervisor without success.
I'm trying again and I think this time I will call everyday to make sure that "they are working on my case".
Something is telling me I won't be successful but I'm unemployed, I will spend the time to bug them.
Bottom line, I got 6 mortgages with Wells. There won't be a 7th and I will make sure my family and friends know about their non-respectful and dishonest practices when it comes to helping people in distress.

I have been trying to get Wells Fargo to correct my loan modification papers for three months. I have sent countless emails to a John Stump. I did receive a response from Thomas Linderman who was unable to answer my questions. I am still receiving calls from the Wells Fargo Loss Mitigation department requesting that I send in the signed paperwork to finalize my loan modification. When the representative calls and I answer the call, they advise that they are on an automatic dialer and they can't see who they are calling or what is going on with the account until they are connected to the customer. This is ridiculous. I have repeatedly advised that the principal balance is wrong and broken it down in the simplest mathematical form and still I am getting no where. But in the meantime I am making monthly modified payments and my mortgage is being reported to the credit bureau as delinquent. This is a nightmare, had I known that this is the way Wells Fargo handles loan modifications I would have tried to refiance with another bank. WHAT A HORRIBLE EXPERIENCE!

We contacted Wells Fargo Home Mortgage on July 1, 2009 for assistance with our monthly mortgage payment. My wife, Jennifer, had just lost her job of six years when her real estate brokerage was forced to shut down, and we were facing financial hardship. We had forced to become a one income family, and our monthly medical expenses had drastically increased due to a recent Autism Spectrum Disorder diagnosis for our son. Although Jennifer had been granted Unemployment payments, her income was less then half of her normal salary, and we were struggling just to make ends meet. I am a police officer with Baltimore County, MD. I often could depend on additional income from secondary employment. However, with the struggling economy many of those secondary employment opportunities became few and far between. We were suddenly faced with the possibility of losing our home, that we had worked so hard to have. Over the past ten years we have been homeowners, we had NEVER been late or missed ANY payments. We had been doing some research on the programs available to homeowners that President Obama had developed, and decided to reach out for assistance. That is when we contacted our mortgage lender, Wells Fargo, and inquired about any available programs. It has always been our best intentions to work towards fixing the challenges we were faced with, and getting back on our feet as soon as possible. We simply didn't want to lose our home without trying everything possible.

We spoke with a Wells Fargo Representative who explained there was indeed programs that would help us with our sudden hardship. We were given instructions on starting the process of obtaining a “loan modification”. We were told this process could take 90-120 days, but most likely 45-60 days. We were told as long as we were in this program our credit would not be effected. We prepared all the necessary paperwork and documentation and faxed it to Wells Fargo. Shortly after submitting necessary documents we received a letter congratulating us on a reduction of monthly mortgage payments from just over $1700 to $862.41 for the next three months. When those three months had expired we contacted Wells Fargo and were told to keep making those same payments until our loan modification had been granted. This was just the beginning of our nightmare. After faxing documents, mailing letters, submitting income verifications, eleven months later, we just received notification that we do not qualify for a “loan modification”. We were told “investor guidelines” was the reason. Apparently, they believe our debt to income ration is too high. Isn't that ironic? That is exactly why we were asking for assistance in the first place! Wells Fargo has informed us we must pay $11, 914.61 in back mortgage payments by 6/15/2010, or face foreclosure. If we had $12, 000 sitting in an account, why would we have asked for assistance in the first place? How can Wells Fargo do this? We are now in worse shape then we were back in July 2009! Had we known that this sort of “baiting and switching” could happen, we would have sold our house a year ago! Not only do we now face foreclosure, our credit is destroyed, something that Wells Fargo said would be prevented by being in this program. We were in a bad place, and faced with providing medical necessities for our Autistic son, or a roof over his head! Wells Fargo did the exact opposite of what they said they would do. They took advantage of hard working homeowners who were trying everything in their power to make ends meet! According to our research online, Wells Fargo is taking advantage of millions of people. How can a bank that was given millions of dollars to help homeowners in our situation not be responsible for their actions? They are promising solutions and brainwashing you the entire time.

We, along with thousands of others, believe Wells Fargo is violating the TILA, Fair Debt and Collections Act, RICO, along with many other fraudulent activities. We need assistance in making sure Wells Fargo does not get away with causing so many families to lose their homes, while they sit back and collect their bonuses.

We have filed the same complaint with Wells Fargo, The Better Business Bureau, The Comptroller of The Currency, The Federal Reserve, and even forwarded a copy to President Obama himself. Please assist us with keeping our home and making sure Wells Fargo doesn't continue taking advantage of people who simply were strong enough at one of their weakest moments and asked for the only help they knew.

In a nutshell, we came to a loan modification agreement with Wells Fargo and agreed to have them automatically draft the first payment of our agreement on a specific date. During this time, we talked to a different customer service rep and they put us on a different loan mod program. However, Wells Fargo never deleted or voided the initial agreement, so we were charged for TWO mortgage payments in one day. It took several phone calls (we were hung up on during some of them) but we eventually straightened everything out. Unfortunately, 2 days later they sent another mortgage payment through! Every phone call has resulted in different answers from their reps and they don't seem to feel as if they need to resolve our situation immediately or that they've wronged us in any way. Our account is now overdrawn by $800 dollars and we've had to borrow money from friends and family to put food on the table and provide for our children. We're a middle-class working family that pays our bills, we pay our mortgage every month and we work hard for what little we have. This has caused undue stress and hardship on our family and if I was a different person, I would retain a lawyer and start a lawsuit. But I am choosing to take the higher ground and remain hopeful that WF takes responsibility for their actions with our situation.

Dear WFSUCKS-
I hope you don't mind but I borrowed your profile name as it is so appropriate for this situation! I felt like I was reading our story as I read what you and your wife are going through. My husband has been unemployeed for 2 years so we took all the same steps as you. Well long story short he was just turned down for an insruance agent's job as we found out that Wells Fargo has our mortgage in default on our credit report, not modification and what I was told by the Rep. I am so furious I could spit! I need to know who I can write letters to and who I can talk to and if any of your letters have done any good? I wish you the best!

WFSUCKS #2

Class action attorneys in California and Nevada are investigating Wells Fargo in connection with its loan modification practices. If you feel you have been taken advantage of by Wells Fargo, feel free to contact me at [protected].

Anthony
Attorney Legal Directory

We have been trying to go through a "loan modification" with Wells Fargo for at least 3-4 months now. They send us paperwork to fill out and we sent it back. We never hear anything so we call to check status and they say that they never received the paperwork. This has happened 3 times. This paperwork is Fed-Exed back to them in an cardboard envelope so I dont understand how after sending it 3 times they NEVER receive it. To put the icing on the cake, I called them on January 19, 2011 to inform them that on February 1, 2011 we would be able to get the loan current and pay everything. Well, they sent us to foreclosure on January 24, 2011. Why would they do that if they were a good company that actually tried to help their customers. So, now instead of being able to get our loan current we have to pay lawyer fees. This is nothing that is new from what I am reading on this site. Somebody should really do something about this because it is extremely unfair to be taken advantage of when your down and that is exactly what they are doing. The problem is, they are so big now that nobody can do anything except for the goverment and lets face it, thats not going to happen.

Wells Fargo Are thiefs And the goverment doesn't care My wife and I tried to modify our home loan was told severall times they were working on it well that was a lie i called every week trying to find out what was happening was told they were working on it then after a time went by i still called to find out and was told i would have to talk to my loan specialist so was transfered to Christopher Davis well that was a joke his voice mail was full and i couldnt leave a message we must of called a hundred times i tried deveral times to talk to someone else was told i would have to speak to him but they would send him a email to get a hold of us well he never did then on april 11 2012 i called and demanded to know what was happening the man i talked to told me he could get in trouble for telling me but that they were auctioning the house on april 12 2012 he gave me Christopher Davis's supervisior and told me to call him so i did and quess what the same thing leave a message and he will get back to me well he didnt thanks you crooked thiefs

I was foreclosed on 4 months ago and am still in my home. If you are in foreclosure you can visit icansuemylender.com or you can call them at [protected]

I had exactly the same experience. Months of being asked for the same documents over and over again only to be denied because "they couldn't reach me." This when I was speaking to the same rep, Derek Pearson, every 2 weeks. I left repeated messages for him, including many saying I wanted to make payment but he never called me back. I finally spoke to someone else and she told me my modification was denied because the didn't have all of the documentation. This is a game they play to stall. They don't want to comply with the government programs designed to help homeowners. I called today to make a payment and bring my mortgage current (it's 90 days behind) and they refused to let me make a payment.

I have been trying to make a payment since Thursday and the site has been down. I am not paying 15 dollars to pay by phone. They are nuts.

Could you take a moment and put the addresses where you sent your complaints to so others can too. Evidently they the government is playing dumb to the reality of how the banks are screwing over people or they JUST DON'T CARE! I live in Maryland also, Wells Fargo worked me over so now I have lost my home of 25 years, my wife and son left and meanwhile Wells Fargo executives are rubbing their greedy little hands together and laughing when they receive their bonus checks. Yet the government is letting all the banks screw people over and over again.

I am so sorry that you are going thru this. For 4 years Wells Fargo had put me thru the same thing. I had contacted a group called HOPE. It is nation wide. If you havent already please contact them ! I also contacted Gov. Martin OMalley`s office thru the internet. Not a letter ! Their office made a call to Wells Fargo and even though it took another year I have saved my home. My credit is ruined, I owe much more on my mortgage than I did when I started. They would keep me on the forebarence plan when that program is for those who may have money in an IRA, savings or looking to to come into money in the near future. So 3 yrs they had me paying a lower amount but the left over was adding up and the next thing I knew I owed 15, 000.00 that was added to my loan amount. In any case PLEASE contact the HOPE program and do not give up. Also try to either call or send a letter to the President`s Office of Wells Fargo. It is another department that took over my process of keeping my home. And know that you are NOT alone ! Your story is mine all over again. And many others! Please contact the HOPE program ! Great luck !

My family and I are going through the exact same thing with Wells Fargo. My Home Preservation Spclst. wont even return my phone calls or emails.Now I am getting foreclosure notices. I am scared, confused and have no idea what direction to turn.

I am in a similar situation withe Wells Fargo but I was on a repayment plan for theree monthes prior to discussing loan modification. On thee second payment of my repayment plan theere was a clerical error on theeir part causing my account to come back "invalid". When I noticed thee payment didn't go therough, I called to see what happened. Apparently thee employee transcribing thee information missed one double digit. It has been a monthe now in which I call every day to follow up on a work order theat has supposedly been put in on four occasions and every time I call I get a different story and notheing has been done! This was THEIR error! I was even told theat one person has thee autheority to override thee system and return me to thee payment plan so I spent over a week trying to track theat person down. When I finally got theat employee to call me back he tells me he is not only NOT a manager but theat he has only been withe Wells Fargo for four weeks! I have spoken to at least 35 different representatives in several different departments and nobody ever has any idea what I am talking about when I tell theem what happened during thee previous call on thee previous day! Meanwhile, I have received an "acceleration letter" and am headed toward foreclosure if I don't pay thee full balance by thee 15the of January. This run around is absolutely ludicrous and I can't believe theey can get away withe it! So frustrating!

look me and my husband live in texas and would love to get a lawsuit going on wells fargo they have screwed us too many times we too went through trouble in 2009 when my husband lost his job and had a charity that helped us out and sent a mortage payment to them only for them to show it posted and they took the money and then two months later get a letter in the mail saying we never paid our payment that month and when we called they said they wouldnt accept the money because of where it came from and that they sent the money back to them soon after people were driving by our house taking pictures of my husband in the front yard and we were getting letters threatening to foreclose on us. there is sooo much more from other times they have jipped us and i just know there is something that can be done if anyone can help or get a lawsuit together please help

i want in as well for a lawsuit on wells fargo i have had too many problems with them and at the moment they owe me money for almost ayear now and have been lied to too much i can be reached at jojobeara06@yahoo.com at any time i hope everyone gets what they are owed from them and the only way it will happen is with a lawsuit

I am so with everyone- same story and they change representative like some people change their underwear. I have started following up with faxes confirming conversations because boy do they lie!

I have gone thru everything that everyone has gone thru. And as of April 7th 2011 it will have been 4 years since I first ask for help. Before the HAMP and many other programs were around. When I first started I was 2 payments behind 2400.00. And now I am 20, 000.00. behind. I cant sleep nor eat. And I am still waiting for an answer from Wells Fargo.
I am ready to take it to court.
Good luck to all and God Bless.

The local Wells Fargo Mortgage Loan representative promised I would save money by combining my 1st and 2nd mortgages together. Little did I know (until I received my first payment notice) that he had attached FHA loan insurance at my cost of $140 a month to my new mortgage. In hindsight I now realize it was so Wells Fargo would not have to negotiate with me to modify the loan when I went in default because of being over extended on the mortgage payments. They can sell my home in a foreclosure sale (which they are currently arranging) and submit any loss to the Feds for payment through the FHA insurance. LEAVING THEM NO REASON TO MODIFY OR NEGOTIATE A REDUCTION IN MY MORTGAGE AMOUNT OR PAYMENTS. LOST MY HOME AFTER 25 YEARS OF INTEREST PAYMENTS TO THE MONEY GRUBBING THUGS.

Wells Fargo has no interest in modification when they can foreclose and make more money doing so. I have tried 3 different times. They originally set us up on a 3 month trial basis to make sure we could follow through. We did and even paid the trial amount an additional 2 or 3 months. They then sent us an agreement with the new payment about the same as our original payment amount. Nowhere near the trial amount we set up on and we were hoping for. We told them that the loan mod was because we lost income and could not continue to make the original payment. I believe at that time they had no interest in helping us but were stringing us along and to call back next week. The government Making Home Affordable program is a complete farce. The lenders are under no obligation to try top help and since they are in it to make money why not foreclose and make a bundle more.

I'm in the same boat, OMG I can't believe this is happening; I was recently approved to enter the HAMP program after months of sending in documentation ...over...and over again. Make a long similar story short; I made two trial payments before the due dates and received a call from a "NOW THIRD NEW PROCESSOR" telling me my loan was processed in the "WRONG" dept and I will be receiving a denial later. Sure enough I received a denial letter stating "I'm NOT AT RISK OF DEFAULT BECAUSE I HAVE NOT DOCUMENTED A FINANCIAL HARDSHIP THAT HAS REDUCED YOUR INCOME and I AM CURRENT ON MY MORTGAGE LOAN...I received a foreclosure notice from WF 06/2010, our household income decreased 50% (documented). Please keep me informed with any actions being taken against this company. tcsjamesjackson@comcast.com

I read the two articles...but it may be too late for many of us. It will take them half a lifetime to re-do everyones modification because all our info is too old after 30 days. Don't wish to jump thru any more hoops with WF, besides, they have lied so much I wouldn't trust them now.

FLgirl3690 - this is very sad, isn't it! Let's keep in touch if either of knows a class action suit. WF needs to be kicked to the curb!

nsve- My family has been searching for something in the FL area too as far as a class action goes. My parents are just besides themselves with this mess. They have done every single thing asked of them to a T, just like it seems many other people are doing as well. And for what? Just to get strung along every single day. I feel the people that we do speak, don't know anything. The person my mother spoke to lastnight, told us the name of the lady that is handling the loan mod. My parents asked to speak to her and of course there is no contact info on this person. They just stated that they would send an email requesting for this so called person to call my parents. What a very sad mess for everyone. Last night, I emailed the govenor as well as the attorney general in hopes of something, anything, leading us in the correct direction. I did see on the today show just yesterday this: http://today.msnbc.msn.com/id/40222444 but I dont know what this meand for us! As well today they spoke about this: http://today.msnbc.msn.com/id/40213950/ns/business-real_estate/40216284

FLgirl3690- we are Floridians also and detest Wells fargo. I've been trying to search for class action suites in FL but don't see one. We want to jump on that wagon and be included. Keep in touch if you know of one. For 16 months it's been nothing but a big farce with them. They use a 'cookie-cutter' no-win approach and we are sick of it. They have lied and re-neged on everything with us and destroyed our credit even though we were never late...they did 2 mandatory trial periods with us that were successful. We were instructed to send a specified amount that was less than the mortgage amount and promised the shortage would be of no consequence. We did that for 6 months. They lied, denied us the loan modif and then demanded the difference in mortgage payments $2, 600+ and late fees + reported the credit bureau 2 months in arrears. HAMP was useless, we used them twice. They have a bunch of drones representing WF that don't know their butt from a whole in the ground. I truly believe someone is making alot of money off this bailout and gov't programs that are useless. They are ruining us homeowners who are good and just people, are responsible citizens and pay on time everytime for 30 years. This is the thanks we get...Next stop short sale for us... :(

After speaking with my family, they are as well willing to sign a class action suit against wells Fargo. Today we faxed over the same information requested as all the times before to four different fax numbers. As well they got a letter in the mail from asc/ wells stating how they are here to help etc etc! And that we should contact them right away so they can get my family into a program that will help them! The latter was dated 11/5/10! This is absolutely insane! As the above poster, we have always been on tine with payments and most times had even paid extra! And we are treated like we are the worst payees in the world and continue to get the run around!

We are a small business owner and have been very successful for 15 years. The past three years have been a financial struggle with the lack of new contracts. Our clients, which many are large corporation have been struggling also. So here we are in the same boat as the rest of America. The same stories that I have been reading is happening to us. Wells Fargo have actually sent a person to our house two times and charged us $45.00 a visit. The man never said anything to us, other than just to hand a sticky note with Well Fargo's number. I have been calling Wells Fargo twice a week since April. We have always been current with our house note until this year, we slipped one payment behind. I have been trying to get a loan modification or just trying to get the one house note that we are behind attached to the end of the note. I believe that this modification program does not exist, other than sending the same paperwork over and over. The customer service team sounds like they are reading from a script. They have no idea or do they care about our biggest investment. It needs to stop. I will join any class action suit against Wells Fargo. They need to be stopped. The things that they are doing to our account has to be illegal. Let's not let our tax dollars bail this bank out again.

This is so horribly sad! My parents are going through the same thing. They as well have Wells Fargo, and have been trying to do a loan modification as they have had a loss of income and are having financial hardship as well. They filled out and sent over the required paper work. They were told in order for the modification to be put through they would need to make four payments to their loan with two of the payments to be made that day. They made two as to keep the paperwork going in hopes that they would get some help and planned to make another two the following week as requested from Wells Fargo!
They called Wells Fargo the following week to make the other two payments, which would put them in good standings and current with there loan. However, ironically they were informed that there was nothing that Wells Fargo could do for them and the home is now in foreclosure from the day that they made the two payments! They again, tried to make the two payments and Wells Fargo denied accepting the payments! They said it was too late and that an attorney now had their papers and information for the foreclosure and they would have to deal with this attorney from now on.
My parents asked whee the money was that they did give them last week, those two payments! They were told that the money was in some sort of "holding!" Why the heck was it not applied to the loan? Again, no one could give them any sort of answers and directed them to the lawyer.
They then called the attorney, and this attorney had no information on a foreclosure!
Since this point, they have tried to contact Wells Fargo as well as this so called attorney, every day, with no answers, and no one wanting to accept the second set of wo payments, and no answers as to why the first payments were not applied to the loan to keep them in good standings.
Unfortunately, my family is in a very hard place and they can not afford an attorney at this time to fight this. They are extremely beside themselves at this time and just don't know which way to go with this. Any help would be greatly appreciated.

I am in the same boat, faced an economic hardship and was put on this same loan modification process. After 60 days I was denied simply because they stated they could not reach me via phone. At the time my phone was disconnected (had other bills besides mortgage) but I did write them and told them only to contact me via snailmail. They never stayed in contact other than to state I was denied.

Then like the original posting, my back balance was due, if I cannot make regular payments how can I make the lump sum? Logic is not a strong point of Wells Fargo. Finally I did manage to do the forebearance as it was the only option left they would let me go with. After the 3-month period the lump sum was due. During that time I lost my job so we no longer had income for about a month (no income at all) because I did manage to find a job but had to wait 4 weeks to receive a paycheck. This is when the foreclosure proceedings were threatened, I put the home up for sale, and is now in the process of short sale negotiations. However, the home has no offers since it was on the market of April 2010, it is listed half of what the payoff is and still no offers. It is slated to go to sheriff sale in December, but honestly if it isn't selling for half of the payoff now what makes them think it will bring any more money during a sheriff sale?

I feel your pain, Wells Fargo still sends me information about loan modification, but its far too late now and besides I tried it through their loan modificaiton three times and was denied for some trumped up reasoning on their part, I even paid them $2000 of a loan from my in-laws to qualify for this loan remodification, none of that money was ever applied to the mortgage at any time. I did manage to find a lease option home out of state due to a job relocation, it will be interesting to see what happens next month.

Law Suit? Sign me up because I have gone through the same scenario.

Yes, Wells Fargo (and other Servicers) are making a lot of money by drawing out defaults much longer than they would have been, increasing the balance on the loans, of which they are paid a percentage.

Furthermore, in cases where they determine the borrower is not underwater, they also profit by "equity-scimming" if they foreclose so they may actually take steps to increase the chance of foreclosure. Of course, in this scenario, the servicer (who has little to no risk) is profiting on both ends while the investor pays uncessarily high fees and the borrower loses their home.

Read this:
http://www.mfi-miami.com/?p=3636

...Sound familiar?

We were contacted about a refinance on one of our rental properties where we would combine a first and second motage whikle saving approximately $400.00 a month. This started back in late July or early August. The requested we pay for the appraisal up front which was different that other loans I had made where the apprisal was included in the loan fees. We paid the appraisal fee and started the loan process. We kept receiving requests for additional information and we supplied. Everytime I asked how the loan was progressing I was asked for additional documentaion sometime the same as I had furnished. I finnaly had enough and pressed for the status of our refinance and guess what I was told "There are two things that are causing this delay. One, it our massive volume of loans.. We are funding over 750 mortgage loans just in the my area of San Jose. And second, your loan was selected for random audit. So it went to a special dept for review." "Our policy states that we can only use 45% of your income to qualify for a mortgage loan. Currently you are at 49%."

In speaking with her I asked why was this now an issue when we are reducing our monthly outlay by over $400.00 with this new refinance and what were they going to do to make us whole on the money they already took from us for the appraisal?

She could not answer these questions and stated most likely our refinance would be turned down but she had not received a definite word as yet and if I had an issue I could speak with her Manager.

I have been with Wells Fargo for over 20 years, have my savings and checking along with two mortages through Wells Fargo. Have never missed a payment and am working full time with two rental properties yet I do not qualify! This all seems like a big sceme to nickle and dime people who are trying to take advantage of the lower interest rates. The fact that they charged me in advance for the appraisal should have sounded some alarms with me. Well Fargo has crossed the line with me and I caution anyone from starting any loan processes with Wells Fargo because they will lead you on while making promises they will not keep.

I also would join in on any law suits that may take place against these type of banking issues. I can be reached at eandm47@sbcglobal.net. I am in California.

Same thing happened to us except they sold our house while in the process of the loan modifacation they took our money and all the paperwork over and over and said everything was fine next thing we know our house was sold never could we have dreamed of such a thing. We are in a law suite with them now they are offering us to pay less than what we owed and them pay the rest for the house (what the new owners want) I dont feel we should have to pay anything they wronged us we have a court date this week in summary judgement he said it was a breach of contract and misrepresentation by reprisenative . we are both very ill after fighting for our home for over a year now but we are not giving up I cant believe they are getting away with this by the federal government they recieved their bail out now what about the people who made them one of the biggest banks? feel free anyone who wants to contact us denlisa121203@yahoo.com 10/11/10

MY NAME IS SOPHIA
ABOUT 8 MON AGO I SIGNED UP WITH MY MORGAGE COMPANY WELLS FARGO
modification of my loan. I provided all my monthly information including all expenses and incomes and was told that I qualified for a modification and was quoted a new monthly payment that was within my budget. i'm still on ssa
due to my ptsd and major depression
...they put me on 2 mon program then a 6 mon program then i resived a called stating i cant get it...after almost 13 yrs in my house i ready 2 be in foreclosure i can short sale it bc now i owe 4, 000
i never owed them at all until they signed me up for this program so after all this mons i owe 4000 and i just talk to them they said i can try for another program but i need to make more money...i told them i get ssa they said with i new program i would pay 563.00 for 3 mons ...that was almost the same as my morage payment to start! now in 4, 000 in debt and im back where i started and they keep saying they will take my house ..i feel like they set me up for failer 2 take my house ..i called hemp program they said call naca they told me to get started i have to pay 2, 500 for there laywer i have no money for that, im scared to lose my home and me and my 3 childern will have no place to go HOW CAN WELLS FARGO KEEP DOING THIS TO GOOD PEOPLE!