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Wells Fargo Home Mortgage

Posted:    

Forclosure / hamp

Complaint Rating:  100 % with 8 votes
100% 8
5
Contact information:
Wells FArgo Home Mortgagel Line of Equity
PO Box 10335
Des Moines, Iowa
United States
Phone: 1-866-234-8271
wellsfargo.com
RE: Wells Fargo Home Mortgage
PO Box 1033
Des Moines, IA 50306
Loan # 0150517712

Home Equity Solutions
Mac P6053-022
Portland, OR 97007-1971
Loan # 650-650-1029305-0001

To Whom It May Concern:<

We respectfully request the opportunity to do a Deed in lieu of foreclosure on our property due to hardship suffered from job loss on April 10, 2009. We notified you on April 10, 2009 lost her job and that we would be able to make our payment for. In October 2009 we placed the residence located at 923 SW 98th St., Gainesville, Fl 32607 up for sale, hoping to accomplish a short sale in order to salvage whatever we can of this situation, our credit and a 10 year relationship with Wells Fargo. However, given recent market and economic conditions, the house had at this point received no offers.
My wife was notified on March 27, 2009 that her job was being eliminated effective April 10, 2009. We called Wells Fargo immediately to see about the Making Home Affordable re-modification/ refinance as our loan is Fanny Mae backed and we were losing one full. They told us we qualified for re-modification, that we would go right to However, when I called in to get clarification on a few things to complete the paperwork on time, we were told that Wells Fargo recalculated some numbers and we no longer qualified for re-modification anymore but could attempt refinancing. That blew 5 months for nothing and it was getting harder to make the payments. So in mid-end of August we began the refinancing process only to hit several bumps. The first was that our debt to income ratio was 6% higher, so we had to crunch some numbers, figure in any extraneous funds to get it into underwriting. This was a given since we are now down one income. Underwriting passed it on to a second underwriter because it was tricky. Finally we moved on in the process until the FEMA map showed us in a flood zone.
We debated it because we bought the house in March of 2006. At that time we were not in a flood zone and have not carried flood insurance for the 3 years we have owned this property. However, the maps were rezoned in June 2006. We were never notified by the county or by our homeowners insurance company. We could not afford an elevation survey to determine where in the premium spectrum we would fall. Allstate told us that our monthly insurance premiums would be anywhere from $200.00 to $400.00 additionally per month So now our mortgage payment was going up not down, defeating the entire purpose.
Then, Wells Fargo came back saying: 1) to continue the process of refinancing, we had to purchase flood insurance for 1 year in advance and show proof. The insurance will be $1599-$4000 annually. Which means instead of now saving $160.00 a month on our mortgage payments by refinancing that our payment will now increase anywhere from $200 - $400 monthly. How can we pay that much when we can't make our current payments now? 2) Now that Wells Fargo has been notified of the map changes regarding flood zones, we received a letter saying Wells Fargo wants flood insurance on our current mortgage giving 45 days to obtain it. So we are realized we were done. We have tried in very good faith to make this work. We called our lender as soon as we the suffered a job loss. We maintained weekly contact with them for 5 months only to learn that re-modification was no longer on the table but refinance was an option. We made a healthy attempt at refinancing until our payments were going up, not down. We struggled to make our payments on time and remain current from the date of job loss until the due date of the second mortgage payment on September, 15, 2009, for six months. In October, we moved out placing the property on the market opting for a short sale. It saddened and devastated us to have to lost our home but being the responsible homeowners we have been for more than 8 years with Wells Fargo both here and in Dallas, TX we did everything we could to salvage whatever we can and get as much money to pay off as much of our debts with Wells Fargo as possible. These two mortgages do not have PPI. However, the short sale did not come to fruition initially. We have lost our credit which in March 2009 was in the high 700s to almost 800 for both my wife and me. My wife's father died of Cancer Thanksgiving Day 2009 and my Mother -in-law came to live with us in January 2010. In February 2010 the house went into Foreclosure officially, . In march 2010 we were contacted by Scott R. Lin, Esquire
Florida Default Law Group, P.L. 9119 Corporate Lake Drive, Suite 300, Tampa, Florida 33634 (813) 251-4766
Because on March 23, 2010 I wrote to him and the Alachua County 8th Circuit Court requesting Deed in Lieu because my wife was was still unemployed when Yet, Wells Fargo said they has no idea who he or his firm was nor that we had requested a Deed in Lieu.
Here it is March 2010 and my wife is still unemployed collecting unemployment compensation. Please just accept the property in exchange for any debts owed. There is nothing more we can do short of filing bankruptcy. If we have to, we will fill bankruptcy but there is enough damage to our credit histories as it stands right now. All this because of a job loss and a mortgage company who did not act fast enough, seriously enough or care enough about us. We did the right thing from the moment of job loss and while in the end, Wells Fargo feels let down, so do we. Our lengthy relationship, excellent payment history and reliability meant nothing when we needed help the most in order to maintain our monthly payments and continue to be reliable customers. In April there will cease to be any home owners insurance covering the premises through Allstate. We are no longer responsible for property taxes. If you decide to pursue foreclosure please furnish us with a paper copy of the deed held by Wells Fargo. No deed was ever provided. The Deed in Lieu was Denied.
Damage Resulting : Then in April 2010, foreclosure continued. We also had a buyer for the property which was listed for "Short Sale" at this sale time, however while the buyer provided a" Letter of Pre-Qualification", they were applying for a mortgage with Wells Fargo. During the 30-60 day period of negotiations, Wells Fargo did not "Suspend"" the foreclosure process, it continued. In May 2010, we were notified that Wells Fargo DENIED the prospective buyer a mortgaged so the prospective sale fell through. On August 2, 2010, we received notification that the property would be placed up for PUBLIC AUCTION on August 27, 2010 at 10 by Wells Fargo. On Thursday, August 20th our Realtor Mariella Varella and myself contacted Wells Fargo and re faxed all currently dated paperwork because we had two current offers on the property. We were told a HOLD ON THE CURRENT AUCTION WOULD BE PLACED ON THE PROPERTY. On Thursday, 8/26/10 we were signing on offer for $125, 000 CASH from a BUYER (50% of the current mortgage value) and the legal representative from the mitigation department of Wells Fargo had assured our Realtor that t|THAT THE AUCTION WOULD NOT TAKE PLACE at 10 am the next morning because a reasonable cash offer was on the table. Then on Friday, 8/27/10 the seller called Wells Fargo to find out how the offer was going when he was told that "We're sorry, that property was sold at auction at 10 am this morning." We have done everything within our power to try to work with this mortgage company and they have sabotaged us at every turn. Lost paperwork, paperwork never received, authorizations never received, listings missing, That house was listed on the market since October 1st 2009. Now we are going to have to declare bankruptcy. I lost my job March 2009. We called Wells Fargo the day I lost my job to alert them to the situation like good customers do. I am still unemployed, my father died on Thanksgiving Day 2009 of Cancer, my mother has since moved in with me and I have
lost every thing, every thing. They have done nothing, nothing to help us and we were customers of there for over 10 years who were in excellent standing. All they did was delay, and waste precious time, time we did not have. They should not be allowed to get away with this We started out trying to do payment reduction then 5 months later were told "oh no we made a mistake, you don't qualify for that, try applying for mortgage re-modification, " It be came one big giant game until we were out of money. All the while my father was dying and I was losing my house! From reduced monthly payments to mortgage re-modification to trying for deed in lieu to short sale until there was nothing left but we never, never walked away. In fact, Wells Fargo Walked away from two short sale opportunities, one of them a cash option worth $125, 000 dollars. There has to be someone somewhere who can do something about this.

Dani Willett
352-505-6220
downwill@cox.net

What do I do now???
Help ME Some one please???
Complaint comments Comments (4) Complaint country United States Complaint category Banks

Comments

Sort by: Date | Rating
A  21st of Nov, 2010 by    0 Votes
The bankers are crooks. They are getting richer while the middle class gets poorer. We are getting more and more like Mexico's two class system. The middle class is becoming extinct.
A  28th of Apr, 2012 by    0 Votes
What a horrible experience! I am not quite ready to write my story, yet, but I expect an official notice of foreclosure any day now. Wells Fargo is, indeed, guilty of unethical, fraudulent and nefarious business practices. I am in touch with an attorney who is a specialist in this area of law. I will be sending her some preliminary info, today, 04/29/2012.
Thank you for telling your story. It is sad and frightening to realize there are precious few corporations who are not out to sc__w us, so they can continue to buy our (?) government.
A  15th of Dec, 2015 by    0 Votes
I am currently being foreclosed on by Wells Fargo Home Mortgage. My husband died unexpectly and they went right to my jugular! I have my Congressman, Trey Gowdy assisting me in getting an investigation started in their unreasonable demands and under handed ways. I was asked to provide Wells Fargo Home Mortgage with a deed in my name withing 7 days. My late husbands estate is still in Probate. I did get the deed transferred and sent the paperwork I received from the county, notorized of course along with a page where it showed me as owner of the property.
After waiting more than 6 weeks for them to approve my paperwork as I was told they were "behind", I contacted the CFPB with my complaints which are many against Wells Fargo Home Mortgage. I recevied a letter from a Senior Vice President stating that they would have an answer to my complaint within 7 days. I heard nothing. I contacted the CFPB and was informed that Wells Fargo had asked for an additional 60 days to reply. I was mailed formal foreclosure papers and received them a few days ago. They can't answer my complaints but yet they pulled the trigger to foreclose? Seems strange. I have been charged large fees, had payments returned and can't get any answers. Be careful! This bank likes to string you along while the fees add up. I guess they are waiting until Christmas to give me a sale date on my property. I am living a nightmare.
A  19th of Nov, 2016 by    0 Votes
My father purchased a home in 2010, a mother/daughter home so they had a place to go to when they came up from Fla. The mortgage was & still is with Wells Fargo. Unfortunately my father very unexpectedly passed away in 2012 and my mother, who was diagnosed with Alzheimer's/Dementia, came to live in the home my father purchased and we have been living at and paying the mortgage from day 1. We were told to go through the assumption department to assume the mortgage which Wells Fargo said it wouldn't be a problem since it's nothing like going through the purchasing process. We were then told, after being switched to a new loan assumption person TWICE, that even though my husband makes 6 digits a year and the only credit we had, and I repeat HAD, was our oldest sons school loan, "WE DID NOT HAVE ENOUGH CREDIT BUT THE CREDIT SCORE IS REALLY GREAT" that we needed to get 1 or 2 credit cards, make the payment on them for 6 months to a year then reapply again, we did... and got told "we have to much credit out now". We've done everything we could to try & have the home we have been paying for, even with the monthly payment going up every year since my father passed, my mom who needed 24/7 care, myself being disabled but not collecting any money, not receiving a penny from my sister who was taking care of my mothers expenses, and she passed here at home, with us. Wells Fargo also told us that since it's an FHA loan, that makes it easier, and the fair market value of the home now is almost $30, 000 less than what's owed on mortgage. Stuck between a rock & a hard place. We've put a new heater & a new central air condenser in along with a completely redone with everything new bathroom, so it's not like we're just sitting around. Wells Fargo is just a lousy bank & even worse mortgage company. We were told to just walk away, but I can't do that knowing it would not only tarnish his name even though he's passed away, but they would also come after us for the amount owed after it was sold and also go after my parents estate even though my name isn't even mentioned in their wills & neither is this home, my father meant to but didn't change the will and passed away unexpected. If someone can help with advice PLEASE LET ME KNOW.

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