We have gone around and around with Wells Fargo mortgage modification department for five months. I have not spoken with the same person twice. Nor have I gotten the same information twice. And, they will put nothing in writing. We have been turned down three times for not complying while I have a record from the local Wells Fargo branch that we faxed everything they asked for. They want to take our houses. They can make more money that way. They can get them off their books so that they can tap into the new loans.
At the same time, they bundle the sales with people that are in cahoots with to sell them cheap and fast knowing they can collect on the government's foreclosure insurance which covers up to 50% of the mortgage balance. There is no modification insurance so why should they modify. We are mounting a class action suit in conjunction with a nonprofit organization here in California. Join us! Contact: (email and phone number redacted)
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