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Wells Fargo Home Mortgage / home loan modification

1 AK, United States Review updated:

Wells Fargo has no intention of helping homeowner's with loan modifications, refinancing or anything to do with a home purchased at a subprime rate. We have tried for a year and a half to work with them. I have tried 3 times to refinance with them without success. I tried for a loan modification and they lost my information not once but twice. They finally sent me a loan modification after 6 months that was 100.00 less after suffering a loss of 40, 000 a year in income. They offered another subprime on first mortgage and 10.5% fixed on second mortgage. This at a time when mortgage rates were 4-6%. The Wells Fargo mortgage officer has conveniently left the area so she is of no help. She basically promised us that after 2 years in a subprime rate we would easily qualify for a fixed rate. We made payments religiously and were never late until illness struck. We were denied everything, including short sale and deed in leui. Now we are in foreclosure. If Wells Fargo would have worked with us and given us a decent fixed rate we would have easily been able to make our house payment. The US Government really needs to step in and review actually who was helped with the stimulus money because I believe very few people have benefited and Wells Fargo is responsible for a large number of homeowner's being displaced and causing the real estate market to be overrun with foreclosed homes.

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Comments

  • No
      8th of Mar, 2010
    0 Votes

    Agree but complaining here wont help, Please write your congressman every week!! Government needs to step in and take control as Banks including Wells Fargo are just greedy evil companies that will take anything and everything from a hard working citizen. They take the Owning Your Own Home to a a different level and crushing the American Dream.

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