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Wells Fargo Home Mortgagewill not apply payment

On april 7, 2009 I received a letter by certified mail from wells fargo home mortgage, (address on letter - wells fargo home mortgage - p. o. box 9039 temecula, ca [protected].) we are aware that we were a month behind on our mortgage (or should I say partial payment behind.) the letter stated that we were in default and that if we did not pay the total amount listed in the letter by may 5, 2009 they will accelerate the loan, and start the foreclosure process. the amount listed was $2, 251.39 this amount broken down was — $341.00 (the remainder of the payment for march - $600.00 had already been paid) $907.54 for the month of april (stated due within the next 30 days) and $907.53 (for the month of may - not due yet!) $95.00 tacked on for ("other charges" - not disclosed what the charges are for - just "other charges." best guess this is a fee for their supposed drive by inspection of the property, nobody ever comes to the door, or leaves anything saying they were here, or drove by, if you call customer service, and confront them about it they just say they "drove by" and tack on a fee for it.) we had already paid the $600.00 of our $907.53 payment for march, on april 3, 2009 - due too economy and decreased hours at work. this payment was immediately taken by wells fargo home mtg. and but not put towards the payment of the mortgage, but instead set aside in a "suspense account." on april 10, 2009 we paid the remainder of the march 2009 payment, in the amount of $342.00 (this included remainder due and late fee, the money was drawn from our checking account by a teller at a branch wf bank, and the payment made to the mortgage account immediately by the same teller.) wells fargo home mtg. again accepted this payment as well, but immediately put into the same suspense account - and did not! apply the total amount to our mortgage for payment for the month of march which would have only made us owing for the month of april which is now currently due, and will be paid within the month. instead they are putting the payment in the "suspense account" - not applying it to the payment, and stating that we are still in default and if the total amount is not paid balance being $1, 309.39 by may 5, 2009. they will accelerate the note and start foreclosure process. I find it hard to believe they can intentionally hold these funds not apply them to the mortgage, and then serve you with foreclosure papers for default or nonpayment. something seriously needs to be done about this company,. I don't believe they are there for the consumer, but only for themselves, and don't care who they step on or what they do. I truthfully feel there needs to be a class action lawsuit against this company for deceitful practices, so that the 1000's of others like myself and everyone on here, that have the same problem with wells fargo home mortgage can see something done about it, and stop them. I feel wells fargo home mortgage calls in excess as well when they call my home, they call 3, 4, 5, 6 times a day, call during hours that I am at work, nobody is here! and do not! leave a message. 1 phone call is plenty, and leave a message for pete sakes!

Responses

  • Sh
    Shellycole75 Apr 14, 2009

    The same thing happened to us!! I made EVERY payment on-time from September 2006-January 2007. I didn't realize I was shorting the payment by $20.00. They accepted all the payments I made and placed them in a "Suspense Account" (Unapplied Account). We ended up in a HUGE MESS!!! Thanks for your comment. I thought we were the only ones!!!

    1 Votes
  • Do
    DougS Jul 17, 2009
    This comment was posted by
    a verified customer
    Verified customer

    Spring of 08, my daughter, son-in-law and 3 yr old granddaughter moved in with my wife and I due to him getting laid off from his job.
    While he did odd jobs for cash and helped when he could while looking for a new job, it put my wife and I behind on our bills. Utilities went up, gas for vehicles used went up, groceries went up, etc., etc.
    Contacted wells in Nov to arrange payment options to get back on track. Didn't hear back from them until Dec, when a lawyers office sent me a letter wanting me to let an appraiser into my home to appraise it's value for foreclosure sale. WHAT?? I couldn't believe it!!
    I called the lawyer office and they wouldn't talk to me without authorization from wells. I called wells and they told me to call the lawyer and ask for a "reinstatement amount". In the meantime, I gave them my information for a "loan modification" program. The lawyers office said I need to pay wells $2400 to get reinstated. I did.
    I called wells again to verify they had recieved the $2400 and they had. The guy then tells me that my payments would be suspended until the loan modification cleared, and that I wouldn't have to make a payment until May (this was in Jan). I still sent in payments.
    In May, I authorized my bank to do electronic 'bill pay' to wells, 1/2 my monthly each two weeks. I recieved a letter from wells, my 'modification' letter, that said for me to pay $1900 in May, $972 a month for 6 months afterward! My monthly is only $554.
    I called them back and told them I couldn't afford that, could they please put what was owed on the end of the loan and let me continue to make my $554 payments? They told me to resubmit another loan modification form, with all the same information as before, and they'd let me know in a couple of weeks. Didn't hear from them until July. Got a letter in the mail again from a lawyers office wanting me to let an appraisor in again. I called wells again. The lady told me to resubmit my hardship letter and all the other things AGAIN. Meanwhile, all the money I've sent in hasn't been applied to my loan, therefore, putting me further and further behind, and racking up more and more late charges and fees. Why won't they work with their customers? Wouldn't if cost them less to help them than to take their home and sell it in this market?
    PLEASE HELP IF YOU KNOW HOW I CAN GET OUT OF THIS MESS!

    1 Votes
  • Ju
    Juliesleo Jul 20, 2009
    This comment was posted by
    a verified customer
    Verified customer

    I would ask for a Complete lifetime payment history of your loan for your records and see if everything you have paid is shown on it. Make sure to keep all you receipts for payments. sounds like they are double billing you the 2400.00.
    Request all promises in writing and make sure they received to loan modify requests.

    1 Votes
  • Sa
    SA Cater Aug 12, 2009

    I am going through some similar things with them also. I was issued a forbearance in November of last year. I was only two months behind. I started the forbearance in December and paid all the payments on time and has not missed a payment since. My husband and I both worked for a GM parts supplier. I was presented with a two weeks notice in November of 2008, I immediately called Wells Fargo, and asked them to modify my ARM. They informed me that they would get the loan modification done. I had to go for a month and a half without any income. I called them again and they told me that they could set me up on a forbearance . They sent my husband and I the paperwork to sign, when I read the $4, 000 balloon payment, I called them and said that I couldn't do the forbearance because I couldn't afford the balloon payment. Customer service rep. told me that the balloon payment would be pushed to the back of the loan, so we went ahead and sign and mailed it back. Made all payments every month, and when balloon payment was due made my monthly payment. Got a letter about 30 days letter saying that I didn't qualify for loan mod. and that I needed to send in the $4, 000. I immediately called them and asked why the balloon payment wasn't pushed to the end of the loan, and they told me because we didn't qualify for the loan mod. I expressed to them the rep. I talked to never told me that I had to be approved for the mod. in order for the balloon payments to be pushed back. I was on the phone for hours, reps. constantly telling me that I couldn't talk to anyone in loss mitigation, because they didn't want to deal with us anymore. I finally got in touch with a credit specialist working with Hope for Homeowners and she made a conference call to Wells Fargo. They talked with she and I and told me to resubmit a hardship, etc..
    Trying to keep my home my husband and I sold some possessions . We made a payment to Wells Fargo on 7/7/09 of $3300. I later find out that they didn't apply the payment until 8/6/09, which put more behind because still wanted me to pay the $4000 balloon payment. I received my statement called them and asked about how they posted this payment and why didn't the extra $750 I sent didn't apply to my account. They said they had held all my money in a suspense account, and charged me and extra $98.92 for a foreclosure fee. I told them that I hadn't received any papers from a lawyer or them concerning them pursing foreclosure. Rep. then switched me over to collections, Collections refused to take charge off my account.I was them switched to another rep. was on the phone for over 2hours, without accomplishing any thing with them. I wish the government would do something about Wells Fargo and their abusive practices, and the rude customer service.

    1 Votes
  • Ji
    Jim M. Mar 06, 2010

    They are doing the same thing to us and someone we know. I am talking to a lawyer on Monday, who is already handling cases against Wells Fargo for the same thing.
    I'm thinking 'CLASS ACTION LAWSUIT’
    Way do they think they can get away with this??

    1 Votes
  • Fr
    frustrated again and again Oct 27, 2010

    I am still going through this. In 2008 I asked about aloan modification. We were bi-weekly but in danger of falling behind on our ARM at Wells Fargo. They tacked on a 95 fee. I called and complained and they removed it since I never filled out any paperwork for a loan modification because they turned me down before I ever sent in paperwork. Then in 2009 January we were running a little behind but never went beond 30 days. Then in April we finally got behind by 29 days on our March payment. They sent a certified letter with a 95 fee tacked on again. We paid everything totaling 4595 to pay one month ahead and make up for the last payment, interest late fee and that 95 fee. Again that 95 fee popped up this last month. We have been bi-weekly and perfect for 18 months. That 95 fee is a Broker Price Opinion. They do this when they intend to foreclose on a property. The Customer Service agents play like they dont know and noone can come up with an invoice or proof that anything was ever done. I am sending them a demand letter via certified mail along with a certified letter to the Attorney General for the State of Texas. I want that fee removed and I also told them to go down the road and try to foreclose on people that are actually behind...way behind. Like an investor who is trying to have a tax write-off for themselves not someone who lives there and tries to make payments on their Homestead. This is corruption at the HIGHEST level. They did not want to help when I was strugglinga nd now they are stealing when I am current. If anyone out there has the same problem with this so called 95 fee, please post a response to this. I am tired of their business practices. They need to be dealt with They have me in Loss Mitigation when I call in even though their computer shows me current with no lates. Scary

    0 Votes
  • Dt
    dteeple73 Nov 15, 2010

    Wells Fargo is not the only only doing this! I am in the military and in November of 2008 the compnay I worked for closed down due to lack of bussiness. I joined the military to make sure my mortgage was paid, it was hard on my wife and kids due to the fact I was gone for 22 weeks but it paid the bills. When I was getting ready to come home from basic training in July 2009 I call Bank of America which is our mortgage holder to apply for a loan modification to lower our payment. They sent me an acceptance letter with the terms and agreement on it, it stated that my payments would be $657.00 starting October 1st 2009 and go up just a little by about 10 dollars on October 1st 2010 which was fine. On October 1st 2009 I made a payment for $675.00 and they stated that it was applied to my account. I then missed three payments because I was not working, but in March 2010 we got a income tax return for $10400.00, I immediately called Bank of America and spoke with a girl named Kimberly! I asked her how much did I need to pay to get my mortgage caught up and to pay one month ahead? She stated that I needed to pay $2, 660.00 and that would also pay me through April too as well! I paid the amount(check by phone) and I also got a confirmation number. At the end of March my wife calls me at work and states that we recieved a ACT91 notice in the mail. I called Bank of America and asked what had happened, they stated that after I made my payment on the 8th of March, 11 days later my home was put into foreclosure status on the 18th. I spent all of April calling Bank of America, I spoke with 21 supervisors and they all said the same thing "Sir we made a clerical error, We will correct it and contact you with in 24 hours!" But they never did! I hired an attorney in May (waste of time!) they were loan modificaation attorneys! I had already accumulated all the information that was needed to correct the issue, they needed to only contact Bank of America and have it resolved, but after I gave them all the monies that they wanted, they stopped calling and working on it! The new company that I was working for also closed down on October 1st 2010. They stated that because I was not working there was nothing they could do! They had from May 2010 to October 1st 2010 to resolve it. None of the monies since October 1st 2009 have not been applied to my mortgage account! They all have been put into a suspention account, now I owe over 12k and they are selling my house on January 3rd 2011 for sheriff's sell. I have wrote to two congress men about this and they start to investigate it and when they do Bank of America calls me and apologizes for the whole issue and say they are going to correct it, but never do!
    I UNDERSTAND! AND I AGREE that something needs done ASAP!

    0 Votes
  • Wh
    whatever-bankguy Apr 22, 2011

    whats up with the all caps? Do we have to realise when the bank receives 5 checks against are account, 4 of the for $1 and one for $5 with only $5 in the account that the bank has to clear the checks in order of the $5 dollar one first so that they can bounce the other four? That is of course until a law is passed to protect the public against the moral-less act.
    We have to realise that too? or not?

    -1 Votes
  • Da
    Dawn Schweiker Feb 03, 2013
    This comment was posted by
    a verified customer
    Verified customer

    I agree. I am current on my mortgage payments, but, while trying to do a modification, they placed my 2nd mortgage in default and marked it as charged off. Even though payments are made, they place them in 'suspense' and every month, i have to call and have the payments applied correctly. there definately needs to be a class action suite against them. Please call me if you know of anyone qualified to take the case. Ken/Dawn Schweiker [protected].

    0 Votes
  • We
    wellsfargocustomer Jul 16, 2016

    I have 1/2 of my mortgage payment come out of my bank account on the 1st and the other half come out on the 15th. This way I do not have one big payment come out at once, but rather, spread it across my paychecks. Each month they place the funds received on the 15th into an "unapplied" status until the other half is received on the first, then they apply the total towards my monthly payment. I want to know the federal regulation that allows them to do this. They do not pay me interest, nor apply it towards my principal balance, until the 1st of the month. The only thing I can assume is that they do not want to apply the funds to my loan balance because to do so would result in me paying less interest overall, and pay off my mortgage more quickly. Any and every other creditor I have applies all payments immediately, and I thought this was required. Why is Wells Fargo an exception? I am thinking a class action lawsuit may be in order here.

    0 Votes

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