It would require pages and pages to fully do justice to what happened to us, but here is a somewhat condensed version.
We refinanced our home with Wells Fargo HM in July. It was actaully a pleasant and uneventful experience, right up until April when we received notification that they were foreclosing on our home because we had never made a single payment! Unusual, I'm pretty sure that a mortgage company won't let you go a year without paying before foreclosing.
Frantic phone calls to customer service at Wells Fargo resulted in us being told "this is a mistake, I'll take care of it, this happens all the time" or "it looks like your mortgage was sold, but can't really tell to who". Again, we were always assured that they had our payment records and this would be taken care of. Our home was sold in foreclosure on August 15.
We hired a lawyer, who was worthless, the only thing he ever did was write us receipts for all the money he took from us. We wrote numerous letters to the CEO of the company and to customer service, with absolutly no response ever. We also filed a complaint with the OCC (don't waste your time, they are paid by the banks) with no response.
I have finally pieced together what happened, too bad Wells Fargo employees and management were too stupid to do the same. Wells Fargo acquired Norwest Mortage at almost the same time they sold our loan to Norwest Mortgage. This must have been too much for their system to handle, and Wells Fargo continued to bill us each month, we continued to pay Wells Fargo each month. Note here: we were never sent a letter that our loan was sold (which is law), but frankly it would have been fine with us, we would have known where our payments should be going and maybe have sent them to the correct place preventing all that happened.
Now where our house payments went for almost a year, NO ONE at Wells Fargo could ever tell us, they did think it strange that our invoices never reflected a past due amount, and just couldn't imagine where that money went? When a mortgage is sold, the old mortgage account would be closed, so I assume there is some sort of "payment graveyard" that they post payments to when they don't know where they go. FYI - yep we always used Western Union to pay, we were told by Wells Fargo "it's the best way".in fact I still have the welcome letter from Wells Fargo stating this.
Maybe I'm wrong, maybe it went in someone's pocket. This would be a perfect scam.
We moved out of our home in October to an apartment, where we are today as we will never quality for a loan again. We had worked so hard on our home, putting tens of thousands of dollars into remodeling it. We were very proud of it. Needless to say the humilitation and embarrasment for us and our children is with us to this day. For about 3 years following we just existed instead of living. This has been a nightmare that we have never fully recovered from.
For all of you dealing with this now, stay MAD and keep fighting! We just got beaten down, and didn't know where to turn anymore, we felt small and insignificant and the battle was so painful for our children, that we needed to give up. We have never forgotten though.
To heal, we decided that we needed a piece of them back. So, our goal was to tell our story, convince people to leave and keep track. We began a little over a year ago, to date we have managed to cost Wells Fargo, $1.2 million in lost home mortgages, bank accounts and credit cards.
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