Our involvement with Wells Fargo's Loss mitigation program began in June. We had fallen behind on 2 of our payments in the winter of 2008 due to some major medical bills. We were contacted by Wells Fargo to find a way to bring our mortgage to a current state.
After speaking with the "customer service" representative, we were informed that we were going to be sent a loan modification packet which we needed to sign and return with a cashier's check by the 13th of June. We sent the packet and the check via DHL overnight to the address given. About a week later, we received the package back with the check stating that it had not been sent in time and that we were in violation of the agreement.
Using the tracking number we had for DHL, we were able to prove that the packet was signed for on the day that it was required by Wells Fargo. We were told by our "customer service" representative to re-send the packet with the check and that they would go from there.
The agreement required us to pay our mortgage on time (by the 13th) each month from June through September and then our account would be reviewed for loan modification. We did everything that they asked us to do, called in with our check by phone on the 13th to make sure that the payment was credited, etc. Etc. On the 13th of September, my wife called in to make our payment and was informed that they were going to review our account and that we did not need to make a payment on that day. The representative said that someone would contact us within a day or two in order to tell us what information we would need to send in.
After waiting for two days, my wife called in and asked if we were going to be contacted and was informed that they were very busy, but everything was being notated on our account as to when we called, and that we tried to make our payment. She was informed that everything was all right and that there was not a problem.in about a week, we were contacted and told to send information such as a letter of why we got behind on our payments in the first place and check stubs, monthly budget, etc. We were given a number to fax this information to and did so within an hour of receiving the request for information.
My wife followed up on the fax as soon as she sent it and was told that it would take a couple of days to be handled and to call back, but that it would be noted that she followed up. She called again in two days and received the same information that they had not received the packet but that it could be that it was extremely busy and to call back, and it would be duly noted that we had called. This went on for about two weeks.
On September 27, we received a letter from Wells Fargo Loss Mitigation stating that they valued us as customers and wanted to work with us to bring us back to terms on our mortgage. My wife phoned the number given and was informed that they had not received the information and if she could fax it again and follow up in a couple of days. She did as they asked again and followed up and was told that the information had not been received but that there was no problem as the division was extremely busy and it would be noted on our account that she had called.
On Monday, October 6, a real estate agent knocked on the door and my wife answered. He said that he had been contacted by Freddie Mac that our house had been foreclosed on and that he wanted to see if it was occupied. My wife told him that there must be a mistake and explained that we were working on a loan modification with Wells Fargo and had been informed that all was well and that they were in the process of reviewing our account. The real estate agent acted like he wanted to come in and look at our house and my wife told him that he needed to leave the premises.
My wife immediately called Wells Fargo and was told that she needed to call the title company that we had worked with. When she contacted the title company, they told her that it was out of their hands and to contact Wells Fargo. My wife called back to Wells Fargo and was told that the account should have been reviewed as noted on our account but that it hadn't happened and that it was a done deal. The "customer service" representative then informed my wife that it would be best to find out what the eviction rules were for our county and to follow them.
After reading some of the complaints against this division of Wells Fargo, I am convinced that there is some kind of a scam going on. My wife and I put $80,000 down on this house and we have put on a new roof, resurfaced our swimming pool, put in all new heat and air units and a new kitchen. We have never refinanced our house and we had a solid 30-year fixed loan. We do not fit the mold of someone who is ready or willing to walk away from our responsibilities.
We feel that Wells Fargo has not acted in good faith in this matter and we do not know where to go from here. We are currently researching a good real estate lawyer in our area so that we can get some advice as to how to deal with this matter.
Needless to say, we are very upset and feel that we are in a bureaucratic Catch-22. We have filed a dispute with Wells Fargo, but we are only allowed to fax the information, no certified mail. We have been told that they will contact us in the unlikely event that they decide to reverse their decision.
We are requesting immediate intervention by someone in management at Wells Fargo in order to take care of this matter. I am starting to believe that, as some of the other complaints have stated, Wells Fargo is intentionally trying to foreclose on properties where they know they can quickly turn the property for a profit. I am going to do everything in my power to see that that does not happen.
Rich
El Dorado Hills, California
U.S.A.
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