Back in 10/08 my husband found out that he had to retire in 02/09. We immediately submitted a loan modification package to Wells Fargo on 10/06/08. We called Wells Fargo the next day to confirm that they had received our packet and they stated no. So they gave us another number to fax all the documents and we did so. This time they confirmed they had received it and told us that we would have to wait for a negotiator.
In Jan I received a voice mail from the negotiator stating that I need to contact him in regards to the loan modification package. He left the 1-800 number for the loan modification department. So I called and asked to speak to our loan modification negotiator and was told that they would not allow me to speak to this person. Meanwhile a few days later in the mail I received notice that the negiotiator needed us to resubmit all the loan modification documents with current information. Two days later in the mail our loan modification was denied due to client not providing documentation.
Now we called Wells Fargo to start the process all over. We have submitted at least 6 loan modification packets to them upon their request since all this began. We are waiting again to be assigned to a negotiator. Apparently it takes 2-3 months before a negotiator is even assigned.
My husband has been diligently looking for employment that would help us pay our mortgage and hasn't received any offers of employment. Meanwhile, Wells Fargo collection agency has repeatedly called me at work asking for money. Each time I tell them to please contact me on my cell phone number. My job is very strict about personal phone calls.
Yesterday we received in the mail the acceleration of note. We called them again today and the representative told us based on our income that we were unlikely to qualify for loan modification due to my husband being unemployed although he is receiving retirement pay its not enough. They representative from Wells Fargo told us that if we don't pay the back owed payments of $6,000 plus that they can foreclose on us by 05/12/09. So, basically according to Wells Fargo if one person becomes unemployed and you can't pay your mortgage you are unlikely to qualify for any loan modifications. I told the representative that I am going to hire a lawyer. She stated that I should go right ahead and do that but I should be spending that money to pay on the mortgage. Why so you can take my money, leave me penniless, ruin my credit and make me homeless. The representative told me that I should have be able to pay my mortgage no matter what my economic hardship is.
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