A new loan analysis came in the mail in June (09). It had been a year since we bought our house. Apparently they were not taking enough escrow out. Our monthly mortgage payment would jump close to $150.00. I called WELLS FARGO, and explained we were having a difficult time, could we please talk to someone about the Presidents home modification program, that due to unexpected medical emergency, we were struggling. We were current but I foresaw it getting tougher, and with three kids, I can't afford to "lose" my house. They told us that we qualified for the no cost streamiline refinance with THEM. They would refinance us at a lower rate, and our payment would be lower than our current payment by only $30.00 WITH the anaylsis amount wrapped in there. (Because the rate was lower)., but at least it was better than the new loan anaylsis amount. Desparate, we agreed.
Our first payment was September 1st 09.2 weeks later, we get a NEW Loan analysis! Our payment jumped up to what it would have been before we refinaced!!! Over a hundred dollars more! I called up in a panic. Please realize we are barely making it, and while a $150.00 may not seem like a lot, to us is a food order. At this point Im on the phone, in tears, my kids are now freaked out. Basically Nobody would help me! The one man (I saved names) said it appeared to him that they took my escrow money and paid it toward the principal! And he even sent me paperwork showing this was what happened! Another woman tried to convince me that the tax assesor gave them the wrong tax amount! I said well if that was the case (which it was NOT) why would you people not call us? We would have NOT gone through with this, because the only people it benefitted was WELLS FARGO!!! I have since, gotten a letter from Freddie Mac, saying they now own our loan!!!???
I have tried emailing the President of Wells Fargo. Nobody has returned my desparate attempts at help. They said one amount, charged me that amount and then raised our amount within two weeks. To me this is bait and switch, I would like to know how this type of practice can occur. I have no one to report them to, do I? Maybe consumer affairs??? One woman at Wells Fargo that I spoke to, called my cell number, at my request, telling me she was trying to get to the bottom of it all, she called my cell again a week later, to say she still was looking into it. Well, a week later, I received a phone call at HOME. She left a message for me to call her, and left a number. (After I told her my contact number is only my cell because I work! She KNEW this, she supposedly had made a "note" of it!) I called the number she left, but because she did not give me her last name, she is unreachable! I asked a regular operator at Wells Fargo to look in our file to see who I spoke with, and they told me that her name was nowhere in my file!!!
We are very hardworking people. We volunteer our time in the community, raise our children to be honest, and in return, expect the same from others. Wells Fargo is shockingly taking advantage of us. Shame On THEM.
They made a mistake. They will not correct the mistake.
On the Wells Fargo website it states:
"WELLS FARGO, ONE TEAM TWICE AS STRONG"
HA! What a JOKE this is to me.
Twice as strong to RIP US OFF, maybe? I feel like I have been.
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