SUBMIT A COMPLAINT

Fannie Mae / Loan Modification

Chandler, AZ, United States Review updated:
Contact information:
Phone: 480-399-8888

Since I spent two days in NACA in September of 2009 trying to get Wells Fargo to work with us and was told we would be seen and leave with an answer, they came back ten minutes later and told us Wells Fargo was too tired and was going home after two 12 hour days of standing in lines. Then we started to work directly with Wells Fargo to no avail. I even got a number to their Presidential Suite through a connection and was told we would definitely get an answer. Based on the same budget sheet I was told we made too little and too much and the information did not change. Then we hired a Loan Modification Specialist to work on our behalf. They started working with us in April of 2010. Here it is December and we are no further along. Three months in a row they told us they could not further process our loan because they needed to know how many lived in the home and how many cars we had. They used this excuse three months in a row just to hold up our claim. Finally a Fannie Mae just opened in Phoenix and we filled out all their paper work and they have 45 days to get us an answer. Fannie Mae is trying to help people because of all of the complaints. Fannie Mae actually owns the loan and your mortgage company is just the servicer. We have jumped through every hoop they have asked for since September 2009 and we aren't any further ahead. A friend of ours has Wells Fargo and he didn't do anything. He didn't make any payments for 10 months and got a package in the mail from Wells out of nowhere lowering his interest rate to 2% for the life of the loan and rolling in the 10 months he missed into his Principal. Is their discrimination going on? He did not do anything and got an offer directly from Wells Fargo which he signed and it was modified and he was done with it. Fannie Mae assured us we would have an answer no later than 01/23/11. They said it would be before that but give them to that date. Here is is Marvch 20th and we don't have an answer yet. I even blogged this on the Fannie Mae LinkedIn group and Executives from Fannie Mae viewed my LI profile but never called or offerd to help. A gentleman in CA named Angel called and said he would follow up and after a couple of calls he went silent. This whole loan mod thing is a big joke. I read an article that indicated that only one person was helped by the Hamp Funds. It's all show and no go. You can contact me at [protected]@cox.net
What are your experiences with Wells Fargo?

Sort by: UpDate | Rating

Comments

  • De
      Aug 12, 2011

    Foreclosure practices by Fannie Mae and Wells Fargo on reverse mortgages has resulted in a class action suit being brought by the AARP. Houses with reverse mortgages are intended to be able to be repurchased by the heirs to the home once the owner and mortgage borrower passes away, but Wells Fargo and Fannie Mae apparently denied people this privilege.

    0 Votes

Post your comment