Our home loan is with Wells Fargo Financial, we refinanced with them in 2007. We went through them because we received an offer online through our bank, Wells Fargo Bank. I didn't know it at the time, but they are only loosely affiliated (basically in name only). We told them that we wanted to lower our payments, they told us "no problem". The process was pretty easy. I was a little concerned about the $9,000 in fees, but we got lower payments, so I let it go. A month after we signed everything, I got a bill from my insurance company. Wells Fargo Financial doesn't pay insurance or taxes, they never told us this, it was one line of text in the book we signed, but it was never mentioned. I tried to fight them over this, but it did no good.
Last year my wife lost her job, and my hours got cut. This, along with a new baby had us in financial trouble. We applied for a loan mod, but we told that we didn't qualify, we were still paying our bills (and going into hole more each month). Finally, after credit counseling, we filed for bankruptcy. Wells Fargo stopped send us bills, they still wanted there money however. We were short a couple of months and we were told to keep paying what we could and they would work with us when the bankruptcy was closed. They even told us that they would just tack on the amount we were short to the end of our loan.
Our bankruptcy is still not closed yet (waiting for tax refund check to be dispersed to our creditors), but Wells Fargo Financial applied for, and was granted an exception to make us pay for the money that we are behind on our mortgage. They want the full monthly payment on the house, plus an additional $800 a month for 5 months to make us current. And the first payment was due 4 days BEFORE we got the letter telling us about the judgement.
They deceived us with the loan originally, then when we get knocked down, the come along and kick us where it hurts. I am considering packing up and walking away, and let WFF have what ever is left.
0 comments