Wells Fargo Home Mortgage / won't give me assistance
My mom died on 2/21, and because of the expenses associated with her funeral, I was out of money before I was able to pay my February mortgage payment. March is bad too, and I knew I would not have enough funds to make a double payment (which I am sure most know Wells Fargo will NOT accept partial payments on missed payments at ALL). So I called them today to see what they could offer me. I did some searches online first and found their home owners assistance page, which listed several ways to make up missed payments. They included, paying PARTIALLY over several months on top of your regular payment, a loan modification which puts the missed payments at the end of the loan and a HUD loan for repayment of missed months. They also stated that their official home ownership assistance program would not be in effect until later this year and they would contact customers who qualified, do not call to find out if you qualify. I also got that message on the phone when I called.
So I called, hopeful that with the death of my mom they'd be able and willing to work with me. The lady I spoke too was nice enough and took down all my 'financial' information which proves that we are literally living paycheck to paycheck here. I told her how much I had spent on mom's funeral... which I didn't think was their business but whatever. I also explained that we are eating one meal a day and I haven't bought heating oil in 2 months because we can't afford it right now.
She typed in all my information and informed me that there were NO OPTIONS available to me for repayment. The only thing was to pay the two months NOW. To her credit, the woman taking the info also seemed rather shocked at this.
She said that she would 'notate' my account that I was going to pay March at the end of the month and then an extra quarter payment for the next 4 months to make up the missed account. She had to remind me though, that Wells Fargo can still foreclose on my house until its paid in full (no late payments ect).
I have already lost about $40K on this house since we bought it 4 years ago. We did not overspend... in fact our mortgage payment was much less then our rent when we moved in. The problem started when my husband was laid off last year, and his unemployment was denied. Aside from that, I was never late in all the 4 years they serviced our loan.
I have read that you must be 3 months behind before you are eligible for assistance. But Wells Fargo starts foreclosure after only 45 days (according to the letter they sent me last year) so how is anyone ever going to be eligible for assistance?
This is disheartening to say the least. I did not buy more house then I could afford (the house was only $119K), and I am trying so hard to keep my home. I know I will be laid off this year, because the company I work for is sending all its US jobs overseas. What is going to happen then to me and my home? If they won't help me over something like this... I doubt that they will help at any time.
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