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Wells Fargo Home Mortgage / loan modification fraud

1 CA, United States Review updated:

After being laid off in 2008 I requested a loan modification with asc/wells fargo.

My first set of documentation (Financial statements) to begin the loan modification process was officially filed with wells fargo in april 2009. It is now several months later and after sending four hardship letters, three financial worksheets and two edd award statements they continue to request the same documentation.

Yesterday I received a message from a wells fargo agent [protected]) requesting that I give them a call. After returning the call this afternoon and speaking with yet another representative, who again could not help with the modification, but requested another financial statement. They refuse to allow me to directly contact a loan modification officer who can actually work with me to modify my loan.

It appears to be fraud, that the loan modification program is non-existent and asc and wells fargo is making a practice out of frustrating home owners like myself who are facing foreclosure.

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Comments

  • Jo
      28th of Feb, 2010
    0 Votes

    I worked for this company as a manager. It is a scam. You pay them depending upon the amount of your mortgage and depending upon how late you are on your mortgage which is in direct violation of federal foreclosure statutes. When you are denied by the bank because they have adjusted your information submitted to the bank {and banks don't like LIARS} you are then rold that you did not qualify. What happens to the money you shelled out? Good luck getting that back in your "contract" it states that you have a three day right of recission from the date they "submit" your information to the bank. In other words YOU'RE SCREWED! If you are in need of mortgage assistance please visit loanmitigationsolution.org to see if you qualify for the OBAMA FAIR MORTGAGE DEBT RELIEF STIMULUS MODIFICATION PROGRAM!!! Call 804-233-0991 for more details. Just ask for JD

  • Ja
      6th of Mar, 2010
    +2 Votes

    It is a scam. I asked for a loan mod back in 2008 they instead put me on a payment plan and increased my loan payment by $500.00 to make it $2000.00 dollars.I called them and informed them that I just got laid off and that this was not going to be possible.They then told me that if I wantsd to try again that I would have to default on this forbearnce agrement.After paying for 9 months and all of the other bills went by the wayside I called them and they agreed to start a loan modification process.We paid the upfront fees about $1800.00 dollars and waited like they said.After 3 months They put us on a three month trial period to see if wee could make our payment and that if we did we would get a modification and that all of the past due balance would be put at the end of the loan. I explained that I had just made every payment on time ( FOR 9 MONTH'S ) and that i needed a modification not a waiting periodor a trail period. They said that it was part of there program.Now I have been through 2 trial periods without missing 1 payment they have always been on time. I have given them everything they have asked for, 3 or more finantials pay stubs anything they have asked for they have gotten. Now They lowered my loan payment to $1000.00 dollars for three months which took me by surprise, I havent seen the paperwork until to day and they want $12, 000.00 dollars on the 3rd payment or they will foreclose. What a f- - - - - - scam !!! They never once told me that there was ever going to be a huge payment ever, my loan has sat in limbo, forever!! there getting help from va to the tune of thousands to help veterans and va has there hands tied and they said it was all up to the bank.All of the money that I and my wife have paid in monthly payments has all been unapplied.So that means the $1800.00 + $1600.00 dollors for there up front fees + all of the monthly payments for 6 months to date and now there will be 3 more, all have been unapplied and thate alone will be about $10, 000.00 +3, 400.00 =$13, 000.00. And now they want $12, 000.00 dollars. Were has all the money been going ? and why havent I gotten a loan modification yet wells fargo?What a scam a F- - - - - - scam!!! You get bailed out with our money and then you want to create an investor market to make more money.Wells fargo is a scam.Ive been in my house for 15 years.You make me f - - - - - - sick...DON'T BELIEVE THEM!! there criminals...

  • Pi
      15th of Mar, 2010
    0 Votes

    We have to do something! Wells Fargo will get caught eventually but until then we have gotten royally screwed up the a!! The same thing happened to us, we started out only 2 months behind but they kept us waiting for months and months while we paid a trial period fee every month (which by the way is not a monthyh mortgage payment it has nothing to do with going towards your payments!! which we did not know)but denied us as the beginning of the third month because we hadn't sent in one piece of documentation on my unemployment even though we had three months. Then they told us to resubmit everything for another 3 month trial bla bla bla to make a long story short we are now paying them almost 500. dollars more a month!!! We put in for a modification to get our payments lowered due to my husband losing hours and losing my job. You see what the evil greedy ### are doing, it's everywhere. We are scraping by barely making it until we can hold these ### accountable. We will not let them have our house !!!

  • Je
      6th of May, 2010
    0 Votes

    I am going through this very same thing. After going round and round with the reps I finally got someone who I talked to a daily basis and she called me one day and told me she just about had everything completed and would call me back. Well a few days later she called me and told me what my amount was going to be (which was a little less than what I was already paying). Well then I start getting my statments in and the amount was different. So I called and talked with Myra who was the lady helping me and she stated that according to the loan modification the monthly payment can change at any time. Within 2 months I received 5 statements all with different monthly payments. I need help. I don't know what else to do. This is driving me and my husband crazy. Someone please tell me what I can do to keep my home.

  • Ja
      26th of Jul, 2010
    0 Votes
    Wells Fargo Home Mortage - modification
    wells fargo home mortage
    South Carolina
    United States

    my husband is a long haul truck driver my wife is ill i lost my business and i have been waiting a year and a half while wells fargo drug their feet . they keep saying pay these payments and be patience so we did then one day after waiting for the packacket which would finallis the modifacation they said sorry we sold your home leave i am 2 thousand miles from home .where is the lawyers that would love to help with my sitition?

  • Do
      6th of Aug, 2010
    0 Votes

    I too have gone through all this "BS" for the past five months! Its totally outrageous and now have been sent to a "mediator team"; called "Trott & Trott". Supposedly they're the lawyers who are supposed to be helping me with my supposed "Loan Modification".

    I was told just last month that the original repayments of my mortgage that were only of "partial payments" to Wells Fargo Home Mortgage were now NOT going to be accepted. And that now I would have to go back to the original payments of the loan. Its absolutely obscured!

    I have now had to resend to the lawyers yet another "financial hardship" letter and wait for them to then make a decision whether I am able to be considered for a loan modification!!!

    I tell you, I'd almost rather let these [censor]s take the stupid house. Especially since its now only worth an quarter of the SEV!

    Oh well if anyone else knows more hit me back.

    -downhillMI

  • Bi
      2nd of Oct, 2010
    0 Votes

    With the recent foreclosure fraud scansals - perhaps FINALLY some regulator will sit up and take notice of a nationwide fraud that makes Bernie Madoff look like a petty thief.

    Wells Fargo, Chase, etc. are all just part of one fanstastic scheme that has escaped regulatory review for years.

    If the feds don't jump all over this and make it right with those harmed - I've said aloud that I may have to consider moving out a country that would consider the financial raping of its citizens to be just some minor administrative overight. This is fraud - plain and simple.

  • Co
      13th of Oct, 2010
    0 Votes

    This company is a joke! I've been faithfully trying to get a loan modification through Wells Fargo/HAMP program since April. Due to an injury at work that has left me disabled and awaiting a second surgery, I have been unable to go back to work in over a year. My only income is disability and barely covers my mortgage payment and leaves nothing left to pay my other monthly expenses (electric/water/heat). I contacted Wells Fargo when my mortgage was 2 months behind and explained the situation. I was told that I would qualify for a loan modification and I needed to apply for the HAMP program. Thus started this vicious roller coaster ride that this company has put me through. I have sent in all paperwork that they have requested. I've called to make sure the information was received. Was told that my file was 'under review' and to wait for their decision. I call over and over again to check the status and I'm told the same response "it's under review". When I finally get notification it's to be told that I've been denied and I have to sell my home back to them. I call again and was told to resubmit all the paperwork again. Which I do, and go through the same process as before. I've done this 4 times already. Each time they tell me that since I didn't get approved for the program, there are others that I can get. This has been going on for 6 months with no resolution. They have threatened foreclosure twice. The most recent is a demand to leave my home by October 28th. I have put a lot of time, love, and money into this home and don't want to lose it. I've tried making payments but have been told that they won't take partial payments. This has forced me to sell things to make a couple of full payments but these payments are never applied to the principle. One payment is even 'on hold'. I see this company as a fraud. They tell you that you will qualify for programs under Obama's new programs and get a new loan modification to help home owners in this terrible economy, but they are lying. I'm appealing to everyone. First of all, refuse to deal with this company if you are able to. They are pro's at fooling you into thinking they will help. Also, if there is anyone that can help me in this situation, please contact me. You can call or send an email to conureking@aol.com. I don't want to lose my home and it's become clear that I will get no help from Wells Fargo. Thank you.

  • Dd
      17th of Nov, 2010
    0 Votes

    Wells fargo are making money from us!! will should stop this fraud

  • Co
      19th of Nov, 2010
    0 Votes

    Ohio --
    A new federal study shows more than half of all empty homes in the country caused by foreclosures are in Ohio, Indiana and Michigan and Ohio leads the list.

    In an effort to personalize the ongoing story of foreclosures, NBC 4 has followed Annette Capriati's foreclosure the last few weeks and her series of unfortunate events do not seem limited to just her.

    Ohio Attorney General Richard Cordray is on the verge of filing a lawsuit against Wells Fargo, the company that held Capriati's mortgage, for making mistakes in foreclosure proceedings that have forced potentially thousands of people out of homes that they shouldn't have lost.

    Cordray said he believes Wells Fargo may have broken consumer protection laws, deception laws, and committed fraud.

    He said that under deposition, Wells Fargo employees have said they signed over foreclosure documents without having read them.

    Capriati's case has an added element -- a form of salt in the wounds.

    Last week, Capriati was forced out of her 5, 000 square-foot home, and this week, she moved into a 1, 900 square-foot rental.

    In other words, she was approved to stay in the home from which she had just been forced.

    To make matters worse, another family has already moved into the home.

    "I got a letter from Wells Fargo, " says Capriatti, "showing me what my new payment plan was going to be on the modification plan I had been approved for."

    In other words, she'll have to make payments on the home she was kicked out of for not making payments.

    That amounts to $2, 100 per month.

    Cordray said Capriati's situation doesn't surprise him in his dealings with Wells Fargo.

    "These firms don't even know what's going on in their own shop, " said Cordray. "As Wells Fargo told us, they didn't have a problem. Now, we find that 55, 000 cases, they do have a problem. They're not getting the job done in terms of offering good customer service to anyone and it's a real problem and they're going to have to face up to it here in Ohio and across the country."

    Foreclosures are skyrocketing in Central Ohio with Columbus leading the state with an increase of 91 percent from last year.

    A lawsuit similar to the one Cordray filed against GMAC in October could slow them down.

    As for Wells Fargo, NBC 4 sent them a list of questions last week and made repeated attempts to contact the company. The company has not responded.

    For additional information, stay with NBC 4 and refresh nbc4i.com.

  • Co
      19th of Nov, 2010
    0 Votes

    Wells Fargo appears to be the next home lender that the Ohio Attorney General's office will be going after.

    Richard Cordray has filed a lawsuit against lender GMAC to stop foreclosures, says Wells Fargo will is the next one in the crosshairs.

    Attorney General Cordray says the lending institution may be guilty of breaking consumer protection laws, deception laws and even fraud.

    Cordray says the Attorney General’s office has a deposition from a woman who worked for Wells Fargo in South Carolina who admits there were problems and was ordered to sign affidavits saying she submitted evidence and had no idea what she was signing.

    Wells Fargo has acknowledged that it made mistakes in processing foreclosures and up to 5, 500 foreclosures may have been done illegally nationally.

  • Co
      19th of Nov, 2010
    0 Votes

    More than 30 House members from California are calling on federal regulators to investigate whether mortgage companies broke the law by using paperwork that may have contained errors.

    The Democratic lawmakers, led by Rep. Zoe Lofgren and House Speaker Nancy Pelosi, urged bank regulators and the Justice Department to probe whether mortgage companies violated any laws in handling foreclosures and borrowers' requests for loan assistance.

    "It appears that we aren't dealing with isolated incidents and that a pattern of misconduct and obstruction is present, " Lofgren said Tuesday.

    The lawmakers sent the letter to Attorney General Eric Holder, Federal Reserve Chairman Ben Bernanke and John Walsh, acting comptroller of the currency

    A Federal Reserve spokesman said the central bank will respond to the letter. Representatives for Holder and Walsh declined to comment.

    The action represents the strongest push to date for federal regulators to intervene in a growing problem in the nation's foreclosure process. To date, state attorneys general have taken the lead on the issue.

    Three banks have halted foreclosures in 23 states after evidence surfaced that their employees or outside lawyers signed documents without reading them or filed inaccurate paperwork. Numerous state and federal officials have been ramping up pressure on the mortgage industry over concerns about potential legal violations.

    "I want to know how deep this problem goes and what safeguards are now in place to prevent unjustified rubber-stamp foreclosures from happening in the future, " Sen. Robert Menendez, D.-N.J., wrote Tuesday to the three major lenders that have halted thousands of foreclosures - JPMorgan Chase, Bank of America

  • Co
      19th of Nov, 2010
    0 Votes

    Three of the nation's largest mortgage servicers have halted foreclosures as scrutiny increases over whether they verify the required paperwork. Several other servicers have also been faulted for foreclosure affidavits that were signed without much authentication, but they have not yet halted foreclosures.

    Bank of America and JPMorgan Chase have joined GMAC in halting foreclosures in those states. Together with Wells Fargo and Citigroup, these make up the nation’s top five mortgage servicers, with a 71 percent market share.

    Columbus Legal Aid attorney Tamara Parker tells NBC 4 that banks that foreclose on properties without ownership of the promissory note create huge headaches to the real owner and the property owner.

    "If the wrong person is filing a foreclosure action, that means the note has not been property transferred to them. They have no right to foreclose on that home. Someone else who actually is the rightful person to collect on that note and mortgage could come back and sue the person for the money, " explained Parker.

    NBC 4 spoke to one Central Ohio woman who believes JPMorgan Chase improperly handled her paperwork. Chase has agreed to halt foreclosures on 50, 000 loans, but not those facing a sheriff's auction. The single mother falls in that category.

  • Hs
      22nd of Feb, 2011
    0 Votes
    Wells Fargo Home Mortage - Well Fargo Home Mortgage
    Wells Fargo Home Mortgage
    Lincoln
    Nebraska
    United States

    We have been contacted since the Spring of 2009 about a loan modification for our home. We were told we were approved. Not true and this led us to fall behind in our mortgage which led to foreclosure proceedings. We have been contacted several times since then saying we qualify, but when it comes right down to it...we don't. Most of their calls seem to be ways for you to lose your home rather than keep it. For example today, I got a call from WFHM if I was interested in a trial period of reduced payments...however, the representative said, I would become delinquent on my mortgage and would be reported to the credit bureau. I asked, "Is this for real? This is supposed to help people...by becoming delinquent? People really take you up on this offer?" Mary Coffin, executive vice president for loan servicing at Wells Fargo, was quoted in the Sunday, May 2, 2010 of the Parade, "We really want to help people keep their homes." WF doesn't want to help. I don't know how she can live with herself or how WF can feel good about working for such a dishonest company. They have been cited for unethical banking practices and their really needs to be an internal investigation done. I am pursuing this further and am working to bring national attention to this fraudulent company.

  • En
      22nd of Feb, 2011
    0 Votes

    Make your payments until you get it in writing, this is common sense people. You got behind in your payment because you did not make mortgage payment. That responsibility falls on no one but yourself. I am sick of hearing Americans complain when they do not fill the responsibilities they agreed to and then blame it on others, pathetic!

  • Sc
      3rd of Mar, 2011
    0 Votes

    I have been going through this same scenario since June of 2009. It began as a modification that I was told by a representative of the bank. I was told that I would greatly benefit from the new HAMP program. I began to send endless paperwork for 3 months straight. I then got a call congratulating me that I was accepted for a 3 month trial. I made these payments on time every time, had them automatically withdrawn from my personal account. After the 3 month trial was over, I called and spoke to a representative about what the status is on the modification. I was told at this time that I was still in review and to continue to pay the modified payment. This scenario went on calling and asking and being told to pay the lesser payment for 6 more months. After making a lesser payment for a total of 9 months, I receive a letter in the mail from Wells Fargo stating that i "NO LONGER QUALIFY". Nothing about my finances has changed and I questioned how I qualified for 9 months and all of a sudden I didnt. Of course I had no answer, was told by the representative that she is just that...' a representative'. When I requested to speak to someone that could answer this question, I was always disconnected. After this letter of disqualification, I also received a letter from Wells Fargo's foreclosure lawyer, stating that I owe the mortgage company over 10, 000.00. This is far from the truth. This is when I consulted the expertise of a lawyer to help me against these monsters. The lawyer was able to postpone the foreclosure for 2 months, but Wells Fargo would not budge on a modification. They did however offer me a modification, but they wanted to increase the years that I pay back to 30 years. I have been in my home for 15yrs now, I told the lawyer that I refuse to pay their fee's as I am having to pay for my own lawyer because of their predatory servicing. I was not able to avoid foreclosure, so my only choice to save my home was to file chapter 13 bankruptcy. I told my bankruptcy lawyer that I will pay back the amount owed due to difference of payment, however I WILL NOT pay their lawyer fee's due to something of their own fault. In the real world, we fix our own screwups. This is Wells Fargo's doings, I refuse to fix their screwup. My lawyer realizes that I am not about to budge either. I am still hounding Wells Fargo about my modification even though I have had to file bankruptcy because of their actions. I will not just up and walk away like they expect. Me and my lawyers are still working to get something done. This is clearly false forclosure and predatory lending servicing and something has to be done. This cannot be legal on any level.

  • Gr
      9th of May, 2011
    0 Votes

    My wife & I have had Nothing but horrible dealings with Wells Fargo. Fill this out, oh wait we didn't get Page 2, we fill out Page 2, send Fax it in...oh, we didn't Page 9...on & on & on. These people are a pain.
    We, the American people, allowed "the" head guys to give them money to help US...the average person but do they help...No..! They run you ragged till you give up..!! We decided to do a Short Sale which they placed a price of Twp Hundred Thousand which they held till we we're out of the Short Sale contract...then the Dirt Bags lowered the price Fifty Thousand & told us we no longer can do the Haffa program.

    I have Nothing but contemp for these so called people. We have lost our Biz as well as our house all Thanks to Greed..! All I wanted to do was have a reasonable good life. Didn't need a 10, 000sqft home just happy with what we had...1500sqft & a nice backyard.
    Does anyone know where we can go to possibly get some Help..?

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