Wells Fargo and other lending companies are denying HAMP loan modifications from one end of the country to the other in violation of TARP. Go to Freddie Mac Home and www.fanniemae.com and see if either lender owns your mortgage. If they do, then you can file a complaint against Wells Fargo with the company that owns your mortgage online. Wells Fargo has signed an agreement as a recipient of TARP money to provide customers wtih HAMP modifications. However, Wells Fargo is doing everything possible to avoid providing customers with HAMP modifications.instead they are foreclosing on properties after customers have asked for HAMP modifications, denying qualified applicants modifications without explaining why or without providing an appeal process for the adverse decision. They are scheduling sales of properties after receiving qualified applications for HAMP modifications.
The best protection if Wells Fargo is proceeding with foreclosure despite repeated applications for a loan modification is bankruptcy court before the sale of the property is complete. You can also file a complaint with your state attorney general office for fraud and abuse against Wells Fargo.in addition you can file a complaint with the Office of the Special Inspector General for TARP at U.S. Office of the SIGTARP: Contact Us: SIGTARP Hotline You can also file a complaint with the Federal Trade Commission at Federal Trade Commission You might be really interested in reading the following legal memo about Wells Fargo from a MN case at tp://www.hppinc.org/_uls/resources/HAMP_PI_Memo. Pdf
Do what you can to protect your home and your property rights from Wells Fargo - they are a predator - preying on their own customers and refusing to comply with federal law regarding mortgage modifications. It's my own personal experience Wells Fargo would rather foreclose and sell your property than grant a HAMP modification or any type of loan modification for that matter. Bankruptcy court is the only protection you have against Wells Fargo to protect your property if the company has filed foreclosure against your home. Wells Fargo is very adveserial regarding home modifications and will do just about anything to avoid granting a mortgage modification including violate your civil rights, your right to an appeal and right to due process. They have no intention of following federal law related to TARP and AMP. You cannot trust what you are told by Wells Fargo employees when you have applied for a mortgage modification and can expect to be denied several times without reason and to be forced to reapply - all the time while the clock is ticking against you in foreclosure. If the company repeatedly denies your application and makes you reapply, then they are buying time for themselves so that they can sell your property rather than give you a mortgage modification. Do not expect to be approved for a mortgage modification request with Wells Fargo before your house is scheduled to be sold at sheriff's auction. Do not expect Wells Fargo to help you save your home.
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