Wells Fargo Bank Mortgageloan modification

L
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I submitted for a loan modification on my mortgage loan on 1/12/2009. As of today I have received nothing but requests for the same information over and over. They required me to add my insurance and taxes to my mortgage loan account, said it was part of the loan modification approval requirements, so I agreed... those 2 impounds were not required when I got the loan. This requirement INCREASED my monthly payments instead of lowering them, as the modification for a reduction has not been approved yet. It has been almost 6 months and they are STILL reviewing my file, I call every 2 weeks. Has ANYONE gotten their mortgage loan modification completed by Wells Fargo yet?? They assure me that thousands of customers have. I do not believe it. I am trying to keep current but this last blow, where they upped my payment over $200 a month to add the insurance and taxes has put me over the top...I will be in default soon. I tried to be proactive when I lost my job and had the disability but it has not worked out. Let me know, I think they are lying to us. Lets start something rolling. I emailed John McCain, my legislator, but got no answer back. Linda

Responses

  • Bluloony Jul 15, 2016

    I have told this story so many times and not a single sole on earth is willing to listen. Please someone look at this website ( wffraud.com ) about Wells Fargo I made on 7.7.2016 and continue to update until the pain and destruction Wells Fargo has created in my life goes away.

    Thank you,
    William Bentz

    0 Votes
  • WFHMdestroyer Nov 18, 2015
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    And, by the way, I am going on You Tube with this. I encourage everyone to do so, but avoid showing your own faces and addresses. DO NOT BACK DOWN! DO NOT ALLOW THESE ECONOMIC TERRORISTS TO INTIMIDATE YOU OR GOVERN YOUR LIFE WITH THEIR FRAUD. THEY ARE RIGHT HERE IN OUR BACK YARDS AND ARE SUPPOSEDLY FROM THIS COUNTRY AND ARE TERRORIZING HONEST, DECENT CITIZENS WHO PUT THEM WHERE THEY ARE, UNFORTUNATELY. WRITING YOUR CONGRESSMAN OR SENATOR IS A HUGE WASTE OF TIME AND ENERGY. THEY DONT CARE! WE ARE GATHERED HERE TOGETHER IN THIS FORUM AS A RESULT OF THE SAME FRAUD WHICH IS, NONETHELESS, A CONSPIRICY OF THE UNITED STATES GOVERNMENT TOGETHER WITH THE FEDERAL RESERVE BANK AND THE "BANKS" ARE SIMPLY DEALERS TO PROMOTE, BROKER AND EXECUTE ECONOMIC AND SOCIAL-CLASS TERRORISM. It is clearly time to get righteous on these crooks! Wells deserve nothing less than to lose everything and be cleaned out and dismantled. Citi Mortgage is ultimately the worst, but they are all the same bank under different names. Many of these banks own shell-companies using Aliases. I would suspect that Citi Bank and/or Wells and other American banks could be linked to the financing of terrorism overseas and I don't mean just the U.S. Military. It is ugly and bigger than we all want to know, however, we the people are the only ones who can change it non-violently or violently. This country was founded on slavery, violence, deception and taking from others. That's what it's about. Capitalism is gaining from someone else's loss. Who said anything about ethics? There is responsible, ethical capitalism and bad capitalism. It's the practice of the latter that this country was built on and still is. Fight it and do not submit to them. We are all stronger and smarter than that and we individually and collectively have potentials that the system does not want you to understand about yourself, which is, that you and me have unlimited potentials! The establishment is always there to dictate and intimidate. This government can take its banks, insurance companies, oil companies and religion and shove them up its crooked a$$hole

    Nobody is my president or ever will be. Vote for who? Which deceptive, out-of-touch, spoiled rotten, power-hungry, greedy a$$-wipe? Never again...

    0 Votes
  • WFHMdestroyer Nov 18, 2015
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    Wells Fargo Home Mortgage is at the top of the mortgage-crime list along with Citi, U.S. Bank, Bank Of America and many others. There is absolutely no faith to be had in Wells Fargo and there is no reason to cut ANY of these banks ANY slack.

    I was sold a fake mortgage in '06. I signed on a 30- year fixed and Wells Fargo took the original documents and fabricated new documents to make it look as if I had purchased a 2-year fixed and a 28-year a.r.m. at 7.95% interest. I did not know this for two years and called them out on their fraud. They refused to rewrite the mortgage and I told them that if they didn't change it back to what I was buying (30-year fixed at 7.375%), which was already bad enough. That I would tear down the house. They stated, "NO ERROR OCCURRED". I begged to differ. I simply told them that I control half of their investment and they can view it how ever they saw fit, however, I explained that they cannot come onto the property or control anything associated. In other words, I stated that if they did not change the mortgage back to what I purchased, that I would dismantle the entire property and haul it all elsewhere. I promised to dismantle the house, clear-cut all the timber and fill the well and septic with concrete and then I'll quit paying and give them a worthless property back to whatever they want. I told them that if they don't change it, that I WILL tear down everything, sell it all and keep the money and cut my losses and that there is nothing they can do about it. In fact, I told them I would film it, use everyone's names and begin the series on You Tube. They finally agreed to modify it rather rewrite it and I kissed their a$$ intentionally and got the bogus modification. I did so because they modified a fraudulent mortgage to begin with and it still stands.

    Again, all of the documents in my mortgage are a manufactured fabrication and after nine years, I now have a mortgage fraud investigator working for me and the table is about to turn. Some [censored] named Terry Raines, who is a top executive at Wells, clearly stands by the existing mortgage which is fraud and there is NOTHING ABOUT WELLS FARGO THAT ISNT FRAUDULENT. They ultimately need to be dismantled all together. Wells Fargo sold off my mortgage to Citi and it was bundled into a trust loaded with fraudulent mortgages. The trust assignee: U.S. Bank N.A., had nothing to say to me. Research shows that the trust which my fake mortgage is a part of, has previously been sued by the Feds twice for over hundred million dollars collectively and the trust is somehow still valid. If it is still valid, I plan to sue it for my fraudulent mortgage. The way I see it, Wells can camel the note and the house is going to be mine and then owe me my money back and ALL OF IT and I'm going to charge them 3.75% interest in my money over the last 9 years.

    I'm about to expose them for my fake mortgage and so far, they have applied $150, 000 of my payments over 9 years to interest and only $9, 000 has been put toward the principle. I will get justice one way or another and I plan to expose their fraud in any way I possibly can to keep others from having their entire financial life compromised or ruined by Wells Fargo Home Rip-Off.

    PLEASE NOTE: the telephone number posted for Wells Fargo in Peoria, Arizona that is posted at the top of this thread, IS WRONG! That number belongs to a private, unknown, innocent citizen in Oregon who has nothing to do with WFHM whatsoever. Therefore the number should be removed and replaced with a real Wells number.

    0 Votes
  • 1m
    1mio Apr 13, 2013

    I tried doing a loan modification with Wells Fargo Bank. I submitted all the paper work on a timely basis. Then within a month after submitting it I was requested to send it again because the information I sent was to old. I then submitted it a third time. They had put my house up for the auction for March 6 2013. Again they request more information because it was being transferred to a different department for review. I had all of the information sent as they requested. I had all of the required paper work to them on March 5 2013. The next morning I was told by the bank that the paper work was received. They went ahead and put my house up for auction anyways. In within a few hours of knowing the house was up for auction I was advised that it had been sold. What I went thur to get the information they requested and they acted like they did not care and did not want to work with me on the loan modification that I was applying for. What a disappointment after all of the hard work to gather all of the documents to present to them. Im an over the road trucker and was telling my wife over the phone and internet what I needed. Does anyone know of a recourse that I would have against Wells Fargo?
    Thank You
    Gary

    0 Votes
  • Bh
    BhavikHari Apr 06, 2012

    I have applied for Refinance at Wells fargo. My loan processing officer was answering my phone message once in a week. First month I was begging her to start processing my loan so I can get better rate but she wait until last days. Than she went to vacation when my lock was expiring. So I called team manager He didn't answer phone or email(even his answering machine was telling that for better service email). I have to pay rate extensional because they didn't process lone and rate went up. They trap me. They were able to approve my loan before my lock expire but they didn't do that. I have all email and phone conversation with them. If you need more information with loan officer name and Team Manger Name and Team leader Name please don't hesitate to email me with Subject "Wells Fargo" I will give you free advice. If you have same experience and want to fight with them then also email me. They treat me very bed even manager can't answer my all question. I think They have policy We are always right and Customers are always Stupid.

    0 Votes
  • Pa
    pandamommy80 Feb 22, 2011
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    Better yet...contact your local congressman!!! It worked for me and it worked fast!

    0 Votes
  • Ma
    mamacats Feb 22, 2011
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    We've contacted a Debt Relief Attorney

    0 Votes
  • Pu
    pupshor Feb 22, 2011

    Wells fargo DOES NOT own your mortgage investors do!! Therefore they cannot modify any loans!!! Therefore they also have no standing to foreclose on you, fight them!!!

    0 Votes
  • Pu
    pupshor Feb 22, 2011

    People believe me Wells Fargo will NEVER give you a real modification. They will give you a run around and take your money!! Been there, drained my savings and retirement money, giving these crooks everything. They do not lower your payments, THEY RAISE them, then go after you with fee's back payments etc. then put you in foreclosure. You send the same paperwork over and over, hardship letters etc, once again they are not going to lower your payments but they will make your payments higher then when you refuse their GREAT modification they take your house!!! Feel free to email me about all this [email protected]

    0 Votes
  • Ma
    mamacats Feb 18, 2011
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    Unfortunately, I DO believe Wells Fargo's mortgage modification 'program' is a TOTAL SCAM - we've been trying since Sept. 2009 to have our mortgage modified and have completed 4 complete forbearance payment programs - only to be recycled and start from the beginning every single time. I have faxed paperwork to their depart. every 60 days as requested and we continue to make the requested payments and nothing ever is modified. The so called mortgage remediation consultants NEVER return phone calls and nothing is EVER resolved. We're still in process - good luck! Wells Fargo executives should be looking at the inside of a jail cell!

    0 Votes
  • No
    nottusa Feb 18, 2011

    My wife and I began the loan modification agreement process with WF just over one year ago. We were immediately approved for the program and everything went as planned for the first nine months. We made every payment they asked for and were told at the end of the nine months that we would begin the process for a permanent loan modification. After waiting and making several calls we received a letter in the mail saying that we had to make another three months of payments, which were $200 more a month than our original mortgage, in order to be considered for a permanent modification. We scratched and clawed our way to come up with the money for those three months only to be denied for permanent loan modification. So, we did 12 months of adjusted mortgage payments which they set up, never missing a payment and doing everything they asked just to be denied in the end. We have since reapplied for a permanent loan modification and are waiting the results of that. We have however received notice that WF has begun foreclosure proceedings on our property while they are still reviewing and considering us for a permanent loan. The whole thing feels like a scam and a complete fraud. I hope I am wrong and they follow through with what they have told us, but after reading other postings I'm not very confident.

    0 Votes
  • Ma
    majormanny Dec 31, 2010

    Sorry to hear about your troubles with Well Fargo...I thought that I was the only one having problems with them on a loan modification. I applied and sent all documents to Wells Fargo (return receipt requested) in early Oct 2010. I would call about twice a month. No one knew anything. Then around Nov 20, 2010, a representative called me that they had the paperwork. i had sent the paper work three times by this time. well, well, well, goody, goody for Wells Fargos. since then, i get two or three calls stating I need this, i need that. I will tell them that whatever they are asking for that i have sent it. I would ask them. What is it that you need. well, then they would state. sorry, i made a mistake, "here it is". well, this has been going on since nov 2010 and now they want a break down of all expenses. when they called and informed me, i stated: come on. do you also want to know how much the aspirins cost? toilet paper? how many times do i go daily, therefore, the expenses involved in answering mother nature. HELLO, they said: we need the information to evaluate your application. So, i just told them that they should obey the law on loan modification... so much for that, i am making a detailed list of all expenses, frequency and the like. even to include how much i pay for dental floss, the length of the floss that i pull out and etc. I do firmly believe, that those of us who are going thru helll with wells fargo, should not allow it to occur. BY GOSH, THIS IS AMERICA. forget about the lawsuits filed. wells fargo probably owns the judges...take care...Manny.

    0 Votes
  • Pa
    pandamommy80 Nov 01, 2010
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    Nope none of that sounds familiar. I read through the agreement VERY CAREFULLY before I signed. After calling my congressman I got offered a different mod than the one I had been in review for. My interest rate and payment are less now. The arrear amount is now tacked on to the end of my loan so it drags it out longer but I needed my payments to be less, so I have to deal with that. Best of luck! I hope it works for you as well!

    0 Votes
  • Ma
    mamacats Nov 01, 2010
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    When you qualified - did they require you to be compliant with the 31% rule? That's why we were told that they couldn't help us. That's the same as HAMP. Also at the end of every month we are showing over $800 deficit.

    0 Votes
  • Ma
    mamacats Nov 01, 2010
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    I will do that - thank you! You are so correct - Wells Fargo Home Mortgage doesn't give a damn about it's customers; they are so greedy and are only concerned about making more money.

    0 Votes
  • Pa
    pandamommy80 Oct 31, 2010
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    I posted on here months ago bc we have been in the same boat as all of you with wfhm modification. I have to tell you...Call and complain/explain your situation to YOUR CONGRESSMAN! I didnt think it would make difference but I was deperate to try anythi ng. After I did this, I started getting calls from the PRESIDENTIAL OFFICE AT WFHM. I was then in contact with only one person and I finally got results! I just qualified for a permanent loan mod after waiting and getting foreclosure paperwork since april. It pushes them to help you...give it a shot...if u r where I was, you got nothing to lose by trying but by not trying you may lose your home! wfhm doesnt give a damn! Best of luck to all!

    0 Votes
  • Ma
    mamacats Oct 31, 2010
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    If a class action suit is in process - please let us know at [email protected],

    Wells Fargo is the absolutely most unethical bank out there!! We've been at this for over a year now and have gotten the run-around every single month. Their process is set up to MAKE HOMEOWNERS FAIL - Plus every single month they gain LATE FEES - even when you are doing everything they ask you to do. We are on our THIRD Forbearance Program - and we've complete complied with the first two. We are giving up - NOTHING is ever going to be resolved.

    Little known fact...one of the 'people' you talk to when you call into Lost Mitigation told me that Wells Fargo holds everyone to the same measuring stick as the HAMP folks - AND if you don't qualify for HAMP; then you don't qualify for any of their 'so called' modification programs either. WE ARE ALL STUCK IN A VISCIOUS CYCLE.

    A little advice; If you are caught up in this sham with Wells Fargo, it's time to re-group and come up with PLAN B. We just stopped our 401K and are trimming the budget with a meat cleaver. We have borrowed money to get caught up. These folks are vicious and will take your home in a nano-second. Don't believe a word of what you are told by the people who answer the phone in Lost Mitigation; I'm sure you already know that if you call there 10 times in a row you will get 10 different answers anyway.

    0 Votes
  • Kc
    KCEigs Oct 30, 2010

    I agree with you completely about getting the run around from Wells Fargo. I just got turned down after 5 months. They kept changing the hardship requirements from the beginning. Wish they would have told me initially and I would have not had to waste my time, efforts, etc. What a farce!

    0 Votes
  • Da
    dammangryinpa Oct 22, 2010
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    We have been in a "three month" loan modification trial for eleven months. Now, Wells Fargo wants us to apply all over again. They have accepted our reduced payment each month, and we have supplied our financial documentation each month, as requested. However, Wells Fargo continues to lose our paperwork each month. I finally put it all together. We fax our financial documentation to the Loss Mitigation Dept. who scans the paperwork and enters it into their computer system for all to see. The Collections Dept., CANNOT SEE the notes from Loss Mitigation, so they have no idea our paperwork was sent in, or that it was entered into the system. I spoke with Ben Holtrop, in the office of the President of Wells Fargo, in August, about the problem. He explained their computer system is the weakest link in the company, "You have no idea how expensive it would be to upgrade the computer system for a company as large as Wells Fargo." I DON'T CARE! Does this give you the right to kick families out of their trials, because you have an antiquated computer system? How many millions of families have been kicked out out of the trial program, even though they did nothing wrong? If Wells Fargo knowingly uses a computer system which they realize is grossly inadaquate because the Collections Dept. cannot see the financial notes from other departments, isn't this legally considered malicious or deceitful or BOTH? Is there a Federal Agency, a Consumer Advocacy Organization, someone who can organize all of these complaints and sue the bums! Let the general public know that Wells Fargo has no interest in helping consumers! Get the word out! Publicize. Call every TV and radio station, and Federal Regulator you can find!

    0 Votes
  • Ma
    mamacats Sep 24, 2010
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    We have been requesting approval for a mortgage modification, [either HAMP or otherwise], since September 2009……..and we are still waiting.

    We are simply asking for a reduced interest rate and we are requesting that the amount we are delinquent (two months) to please be added to the end of our loan.

    Trying to work with Wells Fargo has been frustrating to the extreme! Wells Fargo has drug this process out for over a year and every month has tacked on a late fee of $125. We were told that if we were to bring current the amount we are in arrears that we would immediately be dropped from the mortgage modification program.

    One can clearly see why Wells Fargo is in no hurry to help us find a resolution when they can profit additional funds from us every single month.

    At Wells Fargo it appears that the left hand obviously has no idea with the right hand is doing. We have sent in ‘required’ documentation repeatedly only to find out that it was lost, reaching a competent person on the phone who can provide us with the status of our application has been extremely challenging.

    Three weeks ago we received a phone call informing us that we do not qualify for the HAMP loan and that our loan is in review for mortgage modification. We were told we would receive a letter with this information, no letter has arrived.

    We’ve not heard one single word since that day in spite of the fact that we have made daily phone calls to the Lost Mitigation Dept. The processor that is assigned to our loan is unreachable and we have been told that there is no phone contact number or email address for her.

    Much time has been wasted and no one has been able to explain to us why it has taken an entire year for Wells Fargo to determine that we make too much money to qualify for the HAMP loan when we sent in documentation the first week of our review.

    It is fair to assume that Wells Fargo fully intends to drag this out yet another year in order to profit from the late fees that they are assessing to our account every month.

    These late fees are entirely unfair, excessive and unscrupulous and we are asking for a full and complete refund of all late fees.

    We are also asking for a quick and fair resolution and a loan modification that reduces our monthly payments.

    0 Votes
  • No
    NotDoneYet Sep 13, 2010

    Don't let them tell you NOT TO SEND MONEY...they will venomously deny they told you that. IMMEDIATELY CONTACT YOUR STATES ATTORNEY GENERALS OFFICE. Once I did this, the loan modification they sent and I signed was finally approved provided I send them the original payments they sent me back. Luckily as much as I could have used those reverse payments checks I did not cash them or redeposit them back into my back account. I AM SURE SENDING THOSE CHECKS BACK SHOCKED THE HECK OUT OF THEM...If I was a fly on the wall when Loss Mitigation got them in overnight mail I'm sure there was a roar of OH CHIT! WE MESSED UP

    Even me, a paralegal was not safe from the fraud WFHM attempts

    0 Votes
  • Tg
    tgjpsbd Sep 11, 2010

    Wow! I thought I was the only one going through this Mortgage Modification fiasco with Wells Fargo. Reading the comments submitted by everyone so far is like "de ja vu".

    I have been keeping record of every piece of information I send them, all telephone conversations, and faxes that I have sent Wells Fargo since October 2009; hence it is now September 2010. The notebook is a 3 inch binder, and if I don't get resolution from them I will soon need to start a new binder to hold more information.

    I don't understand how they sleep at night. The whole mortgage modification process, including the HAM program is a big JOKE. I'd certainly like to know if a class action suit is impending...

    0 Votes
  • Ag
    AG2929 Aug 25, 2010

    Wells Fargo is BS. My wife and I applied for a modification in OCT 09. We were put on a 3 month trial period. We made our payments and at the end of three months they sent us an agreement to go on a 6 month trial period so we did it. At the end of 6 months we were told to expect something in the mail. After a couple weeks we called because we received nothing. They then informed us we were to send them in documents. They said we could find the documents online. After a day of looking we found nothing. Called them back and they told us to just fax in the documents we used to apply with, just with updated paycheck stubs. So we did this the next day and were told we were to late. They denied us for missing documents. I spoke to the person rewriting our loan to see what could be done. He claimed he called us repeatedly. Which he may have but he was not calling the primary number and never left messages. His advice was to reapply, which we did. We since have been denied 4 times because we did not meet "investor guidelines" as well as being delinquent 5 months due to the difference in our original and trial payments. Over these 3 months we called weekly, we were told we were in review when really we were not. Only reason we found out we were never in review was by speaking with a supervisor.
    I come to find out yesterday that back in January our investor would not accept HAMP. So wells Fargo put us on a FHA repayment plan for the 6 months. We were new to the process and were led to believe that this was part of the loan modification process. We were completely mis-guided with the process. The entire time we were being told we were under review when we were not. We are now 6k delinquent and our credit is screwed. Before yesterday we were going to negotiate with them that if we brought the loan current they fix our credit considering all the mis communication. But after the mis leading info I became aware of yesterday, we are now contacting local state and fed representatives as well as speaking with a lawyer. If we have a case then we will move forward. If we do not then we will at least try to clear up the mess, bring our loan current and have them fix our credit. We then will refinance with someone else and get far away from Wells Fargo.
    Wish us luck that something comes of this

    1 Votes
  • Pa
    pandamommy80 Aug 12, 2010
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    Ok this is all very scary for me...I have too been in process of getting my loan modified with wells fargo. I completed my trial period in june, continue to send them financial documents each month, pay the trial period mortgage amount as agreed, call to check the status as often as i can and today i got served with foreclosure papers!!! Now im scared after reading all these comments eventhough WFHM is telling me i have nothing to worry about...I am worried! They said my loan is in review and there will be a decision soon but they still have to start the foreclosure process in the meantime...To me that makes no sense???!!! Any help appreciated

    0 Votes
  • No
    Not yet homeless in Seattle Jul 31, 2010
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    Why don't we all just get together and send all of this information on the banks practices to Obama?
    Not yet homeless in Seattle.

    0 Votes
  • prospercreatively Jul 30, 2010
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    If you are not successful in getting your loan modification you might be interested in getting a refinance through this group. You must be 125% upside down, late on payments and credit does not matter. They get you a true principal reduction and your total PITI is not more than 40% of your income. If the numbers work and you can prove your income even if you are self employed you can do a P&L statement and show bank statements of deposits you can qualify!

    I have been in a battle for 3 yrs with my mortgage company to get a modification. I got no where then I found these guys online and I have never been happier that I did!

    Good luck!
    http://tinyurl.com/2egvpc6

    0 Votes
  • Ve
    verymadinflorencesc Jul 20, 2010

    Long story short, my situation sounds just like everyone of these. My payment went up in october 09 from 573 to 800, they said because of forceplaced insurance premium that hadnt been paid in 07 (the money was in escrow for it) and was due for 08. two years worth of insurance in one year. At the same time we lost an income for about two months. just staying out of being three months behind I was told about the Mod plan. I was told my payments would be cut in half and all arrears caught up, late fees waived, if I would make three trial period payments, Jan- March. (I was told not to worry about paying Dec. payment) I sent in every thing they asked, for all the while getting the run around, and made my mod payments on time well after March only to find out in June that they had sent a letter out in April saying they had a document that wasn't signed and because they got no response from me they closed my file. So now I owe all the back payments and because they were all partial payments I made I am now six months behind.I am fed up with it. They lie, and their reps are not qualified to handle our mortgages. I keep sending in documents to try to stay in some kind of review so my house doesn't go into forclosure. I was gonna go in debt more to try and send them 3600 dolllars, they said I owe about 4600 to bring it current. I was told I could send it, they would accept it, but they couldnt guarantee that foreclosure wouldn't still happen since it wasn't the full amount! What a crock of mess. I would have been better off just catching up when I was behind in the first place. I can't believe they are getting away with what they are doing to us. I'm all for a lawsuit, count me in!!

    0 Votes
  • Co
    Colorado Borrower1969 Jul 19, 2010

    All,

    I am attorney/engineer and lost my job for 10 months. I too engaged in the HAMP with Wells Fargo, and I too have gotten no where with them. I made all my trial period payments, called every month for 6 months thereafter, and then was "denied" allegedly because I had "adequate cash reserves" to pay my delinquency and/or future payments. I have asked them to preserve copies of all correspondence and conversations pending an investigation into their reason for the alleged denial. I would recommend anyone contemplating a lawsuit against them to consider the same. (i.e. Preserve the evidence of all those telephone calls, etc...).

    I have "re-applied, " because I have a new job, making 62% of my previous pay. However, I am too far underwater now to catch up. Had I known Wells Fargo was going to "unilaterally" deny my modification, I would have prepared my house for sale this Spring and tried to sell it during the Summer, before the Tax Credit ran out. Now, I see few options but stand and fight with them, including, filing a Complaint/Cross-Claim for Breach of Contract, Breach of their Duty of Good Faith and Fair Deeling and Promisorry Estoppel.

    However, the problem here is what are your damages for their breach of their duties? If we all were at risk of loosing our homes, then if we ultimately loose our homes, we are pretty much in the same position, except that some of us might be able to argue the deficiency is a result of their actions, etc...

    Colorado Borrower

    0 Votes
  • Ke
    KenMfromNY Jul 11, 2010
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    I have been dealing with Wells Fargo reps for nine months regarding my mortgage modification. Like many other posters here, I naively thought WFHM was sincere in helping me. Due to severe drops in my business, coupled with heart/health issues in 2009, I was behind almost ten thousand dollars. When Wells Fargo and I began the modification application process and started the trial period payments, my monthly amount dropped from $1, 781. to $1, 491, which helped a lot.
    Here I am six months later. I have faxed letters of hardship, paystubs and all that was requested of me on three occasions. I was told by two of their reps I was approved for the modification loan and would receive the loan agreement paperwork within two weeks. The second rep left a message on my machine about seven weeks ago. The next correspondence I received was a letter signed by Ben Windust, Sr. Vice President, dated June 29, 2010 stating Wells Fargo has denied the modification due to my failure to sign and return the agreement documents. This is absurd as I have repeatedly called and included notes with my payments pleading for them to finalize the paperwork and the modification. Does anyone believe a mortgage document would be sent common mail and not registered receipt?
    I've decided after reading many posts here I will contact an attorney, rather than attempting a short-sale, and losing all the money and sweat I have in my home.
    IMPORTANT: I was told by WFHM reps that I could not have my home for sale while in the modification process, and that they have inspectors who check on these properties and would find out if I had it listed, and if I had it listed, they would cancel the modification application. This has cost me the option of selling, paying them off, and leaving with some of my investment and dignity.
    Was anyone else told the same?

    -1 Votes
  • Ne
    Nevershouldhavetried Jul 10, 2010

    There are a lot of complaints and they are entirely understandable. How are we to pursue a program that we just don't understand and meet all of the specific investor guidelines when we don't know them?

    The comment that Wells Fargo is a puppet on strings is pretty accurate. When it comes to home mortgage, they are primarily a servicing company. Which means if you got a mortgage through a broker and it was then given to WFHM then they are only the ones collecting on accounts handled by third party investors. Even if you got your mortgage through Wells Fargo, it was probably sold to an investor in the second market. This is how banks have been for years, well before the bubble that was brought about by introducing government secured investors that alleviated risk to the banks such as Fannie and Freddie. Unfortunately this means that if a phone rep is unable to get you to understand the exact document requirements for the investor and you miss some nitpicky point the investor forces on the banks to modify, your paperwork will cause delays, additional questions will be asked, new paperwork will need to be sent in and docs will expire. Causing it to be sent in again.

    Then there is issue with one comment I saw about someone changing their information to match. They do a ton of research to verify everything you send them to make sure there is no fraud. So if you are in active review and you change your numbers, and they already sent it for fact checking, they have to resend it.


    Got that credit card company calling you everyday asking for payment? What do you tell them that you pay? Banks verify debts with the credit report. If you say you pay less then what it says, they'll trust the credit report over your financial worksheet. Cosigned on your kids car but they make all the payments so you claim it as zero expense? It's on your report too, and legally you are liable for that debt if your son stops paying. Same goes if your name is on someone elses credit card or student loan. You are better off claiming every single one of those expenses and asking how you claim the payments made by the other party as income to net them out to zero. Otherwise it will just increase your expenses and your income won't support them. You have a tool. Every credit reporting bureau is required to give you a free copy a year. But you got to request it. Ask your bank how to request your free copy and they will give you all the numbers you need to call. Claim all those expenses exactly how they appear on that, and they won't change any of those numbers. See something that is not yours or an old debt paid off years ago but still showing open just no recent reporting? Call the bureau back and ask how they can get that updated to show accurate status. Hope you don't have identity theft you need to get sorted out.

    Found out that since I only claimed 180 a month for food and my investor says the national average for one is 250 give or take 40 bucks or something, they had to ignore what I told them and use the 250 number. Ask if your investor uses the national average as a comparison to your expense. Same goes for utilities and car expenses. Found out since I included my car payment in my transportation expenses on my worksheet, the took the car note off of my credit and double accounted for it. (apparently over the average was fine, but under they had to up it. Go figure.)

    Found that I could write my own financial statement and was able to give a much more accurate budget then trying to use their pathetically short and general form.

    Sign and date everything. I eventually got to the point a prepared the documents and signed them and just left the dates blank. Made copies and just wrote in the same date I was faxing them. Those expiration dates are strict.

    Get the loan number on the top and bottom. Include the three digit code that precedes it. Found out my loan had the same number as a wachovia loan and it was just that "708-" at the start that was different. They lost my documents because they thought it was the other three digit code, since I didn't include it.

    I had to call the next day to verify that it was received. Verified that they were all readable. (Had a form rejected because a crease in my original was copied as a black line by the fax making part of it unreadable.) And have them review the notes to verify that it is everything. After a while I learned to let the first guy do his job then insist on a Sr Represenative in Loss Mitigation do a second check just to make sure. Insist on it enough and they will do it. Don't let them give you no blowback. You did what they wanted, now have them transfer you.

    Found out it was worthless to ask about getting rid of those inspection fees where they just drive by, snap a picture and leave a card to call Wells Fargo. Turns out that was outlined in my deed of trust. Had to get out my copy and review it with a customer service agent before I believed them.

    Finally there is the way the process works. I started current, fell behind because I thought I could better qualify that way because a group I hired off the tv originally told me this was how it was down paid them instead. (Big mistake) find out after months of them doing nothing that since I could afford all my obligations, the only mod I could get would be one that put the past due amount into my loan again and raising the monthly payment.

    All those financial statements, banks statements and paystubs is so they can look at what you owe. Put the payments into the balance, see if you have a surplus or deficit. If you have a surplus, they stop. Again, because the investor will see you can afford that amount and won't let them drop your rate. Have a deficit, then they drop the interest rate. They take it down till they get a surplus and stop. (Explains the $50 reduced mods I read about.) When my third party got me a "deal" it raised my monthly payment because I could afford the payment to begin with and only fell behind because they told me to. At the time I didn't understand why it went up and turned it down. Wish I hadn't, because that caused me to go into foreclosure and started having those attorney fees. By the time I finally finished, I was behind so much that I no longer had a surplus after bring past due into the balance, I had a deficit. Got the interest rate dropped, and even the term extended, and it got me back to almost where I started but owed more on the loan. Then there was a payment that was needed before I could go through with the final modification and have the changes made. Found out that these were all the fees that were due the investor refused to put into the balance to bring current, and had to be paid so the mortgage would be current after it was done. Had to withdraw from my 401k to get it.

    I learned most of the things that got me going foreword when I got one person on the phone who took the time to explain everything. I wanted to talk to him again, but turns out he was just a standard phone jockey and didn't have an extension. Since then I've been doing my research and looking for the proper way to reduce my mortgage payment. I need to keep my mortgage current for at least a year to hope for a refinance qualification and just hope that the increase in the balance hasn't put me underwater to the point I won't qualify. But I'm also trying to save up. Because if I can save enough to pay down what the balance was increased by, I can get customer service to recalculate the payments based on the paydown to reduce my mortgage and take advantage of that intrest rate drop.

    I also looked into the hamp program. Turns out the treasury dept requires that participating banks try it first and have some real surprising reports on their websight.

    I started trying to get into it when Obama first mentioned it. Turns out it didn't really get off the ground till may of '09.
    http://www.treas.gov/press/releases/docs/05142009ProgressReport.pdf

    And then you look at the results. As of the beginning of this year, Wells Fargo had the most complete modifications of any of the banks.
    http://www.treas.gov/press/releases/reports/february%20hamp%20report.pdf

    Used to think they never helped anyone, but now realized I just hurt my self. I hope my experience can actually help somebody who truly needs help with my experience for how I finally found my way out the other side. So I've been looking for places people talk about their trouble and tell my story. I'm not a good writer, but maybe you can find something good.

    And the reason we never see anyone who doesn't have any trouble on here? Because it's a complaint forum. The people who have nothing to complain about are naturally not going to be reading these.

    Good luck.

    0 Votes
  • Mi
    Mikr Jul 09, 2010

    I'm terrified. wife got seek she can no longer work but wells fargo not willing to help me avoid a default/forclosure. What they don't understand is that i'm only 30 years old and the way they're treating us they will never get a nother dollar from us for allong as we leave. and we'll be sure to tell our four children how undeserving wellsfargo is or their business. I 'dadvise everyone to use local banks. they are very helpful.

    0 Votes
  • Da
    david n jr Jun 25, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I'll say this one more time. Well's could care less about your problem.
    The Feds have not mandated any "legal" guidlines that the bank
    must follow. They're kind-sorta try and be as nice as poss. Well guess
    what, they don't give a rats-[censor] about you. Unfourtunately, neither
    do the congressmen and senators that could help our cause. Name
    me one of them in the position were in. They have homes bought and paid
    for, jobs, insurance. They care about our dilema as much as I care about
    soccer. It's sad but thats the reality of the situation. No law for the banks
    to follow, you and me are screwd. Remember, the CEO of Wells
    is not staying up nights worrying about his mortgae. Nor is he worring
    about the millions of those in jepordy.

    0 Votes
  • Ti
    Tiruwork Jun 24, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I attach my comment please I will waiting the answer my phone is [protected] it is regarding my loan modification.

    1 Votes
  • Ba
    babsvfl Jun 12, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Where are the Lawyers able to do a " Class Action Law Suite " against Wells FARGO for re modification fraud
    We are in south Florida and have been approved, denied, re-approved, denied after making large payments. N.A.K.A. was involved but they continue to say one thing [ approved just make a payment of this amount]and the wells Fargo continues to say another which is always different. We, like many of you feel like were in the "twilight zone". No one is assigned the loan modification, it just keeps changing from one incompetent person to another. I am frightened that the whole country is being run in the same way. What the heck is going on. we have this unbelievable situation where we are loosing our homes, 9 homes on my street were all promised loan modifications by different banks or and agencies, and now all of them are repossessed and most have been sold to people from other countries. [Australia, India, Haiti, South America, etc...
    Then we have the crisis with the Florida gulf oil spill, our president stands silent while we all suffer with these issues. who's pawn is he? he bows to ungodly hateful leaders and does nothing to help us, We who helped to vote him into office.I have a question= Mr President what are you doing? Who's team are you on ? What agenda do you have?
    WHERE ARE THE LAWYERS WITH ENOUGH BALLS TO STAND UP AGAINST THESE BANKS AND LENDING INSTITUTIONS? I was contacted by lawyers constantly for years for everything from a fall to a dog bite and a car accident. I couldn't figure out how they knew my personal business.But yet, I have yet to have heard from one in regards to helping solve this issue. PEOPLE WE MUST UNITE AND STAND AGAINST THIS MASSIVE TAKE OVER
    CALL YOUR CONGRESSMEN, EMAIL EVERY GOVERNMENT OFFICIAL YOU CAN FIND AN EMAIL for. BUY THOSE SMALL SIGNS AND START PLACING THEM EVERYWHERE ASKING " MR PRESIDENT WHY? & WHERE ARE YOU ?
    Lets look at his agenda. It is to take it all, the Banks, the Health Care, the OIl, and Once he has it, he then will give it out to who he chooses, . sound a bit like communism or socialism? You can continue to ignore that this issue with our remodification is all part of the take over or you can get your head out of the sand and stand up and shout NO! HELL NO!
    WE WANT TO KEEP DEMOCRACY

    0 Votes
  • Da
    david n jr Jun 10, 2010
    This comment was posted by
    a verified customer
    Verified customer

    I'll say it again, they don't care. As long as there is some small
    loopole in the law, they find it. Obama made nothing mandatory, therefore, will get nothing. The banks are pissed that
    they have to pretend to have our best interest at hand period.
    THE ONLY THING THAT WILL PUT A STOP TO THIS 99% REFUSAL
    IS A HUGE CLASS ACTION SUIT. ALL THE LIES, DECEPTIONS,
    FALSE HOPES ECT WOULD COME OUT IN FRONT OF A JUDGE.
    THEN, AND ONLY THEN WILL THIS STOP.

    0 Votes
  • Ml
    MLooney Jun 10, 2010

    Does anyone know who I can contact for help on my mod from Wells

    1 Votes
  • Da
    david n jr May 21, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Your correct. 99%off people get turned down fora loan mod.I make 92000 a year
    and was just given a loan mod proposal that was a joke. Banks hate having
    to pretend they care. Dumb [censor] Pres. O never made it an actual law]for them
    to meet any " specific " guidelines. 2 yrs of paying on time in trial mods and they
    screw me. They lie, they loose paper work, they plain dont care. Why? because
    no one holds them acctable. You can write and [censor] all you want, but the
    feds dont really care either, nobody there has a house in peril, thus no big
    deal to them. It's a shame, there criminals. The president of Wells fargo has
    absolutely no conscience.
    david n.
    temecula, ca.

    0 Votes
  • Be
    betsywv May 21, 2010

    Finally got my final modification. I called every week until I got a phone number of someone in loss mititigation. Dropped payment $200 and took $28K and put on back of loan.

    0 Votes
  • In
    INVISIBLE ATTORNEY May 18, 2010

    I agree here in New York state. I have been getting the run around with wells fargo they bought my loan from an FHA loan and I have no choice but to deal with them and since then they have been trying to put me in forclosure saying that I should do a loan modification i did and gAVE THEM ALL MY INFORMATION AND 2 MONTHS LATER THEY DENIED ME SAYING THAT MY ADIVSOR DENIED THE APPLICATION AND THEY NEVER TOLD ME WHO MY ADVISOR WAS. iM NOW REPORTING THEM TO THE AG HERE IN NY I BELIEVE WE HAVE ENOUGH EVIDENCE TO GET AN INVESTIGATION GOING IF ANYONE IS HAVING PROBLEMS WITH WELLS FARGO HERE IN NEW YORK STATE DUE TO THEM BUYING OUT YOUR LOAN FROM AN FHA LOAN PLEASE RESPOND TO THIS EMAIL AND WE WILL GET A CLASS ACTION SUIT AGAINST THEM FOR THEIR NEGLIGENCE AND I BELIEVE RECTLESSNESS VIOLATING LAWS AND RULES IN NY STATE.

    0 Votes
  • Lo
    Lollypup May 13, 2010
    This comment was posted by
    a verified customer
    Verified customer

    Good evening everyone !!! I just emailed OPRAH to see if we can get her attention on this issue and get it back on the radar screen. How many more families are going to loose their homes unnecessarily. I know we have all been Emailing our legislators and filing complaints with our attorney generals which may be useful, but it has been fruitless so far. I hope that her staff will read the email I sent and check out this blog. Keep up your spirits. Let's hope we can change the HAMP and loan modification guidelines to fit the reality of the problem, home loan values, etc. WE know the programs are not working now and need to be fixed. I feel your pain. Linda

    1 Votes

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