In we re-financed our Mortgage through Wells Fargo. They even sent their person to our home because I am disabled. Have copd, emphsema, on oxygen, and have chronic neuropathy. Am in pain 24/7, and doctors can't find anything to help my pain.
I did ask questions about what kind of Mortgage we were getting into. She never told us it was an ARM, which would keep going up in payment. Also never told us it would have some kind of Balloon payment in a few years where we would have to pay all the balance.
The payment ended up being $1258.00 a month, and was interest only, which gave us credit for less than two dollars a payment. Last year, alone, our interest to them was over $11000.00.
We owe $213.000.00, and home is appraised at $151.000.00. They don't care. Then I heard of Obama's modification, so contacted Wells Fargo.
By this time, with all my doctors, we took out a Chapter 13 Bankruptcy, which did not go against the modification at all. Never late on payments, but knew, due to all my doctors and many debts, we had to do something soon!
Last February, I started the Mortgage Modification with Wells Fargo, as our Attorney for the Bankruptcy, said it was best to go through our own existing Mortgage.
Me, being disabled and my husband not too far behind me, I just hurt too bad to handle all of this, and up until July, they had me send 4 different sets of hardship letters, and all the information they usually collect.
I ended up dealing with 4 different people, and each asking for more papers. I was finally so frustrated, I even sent my last originals to them.
Then comes the letter that we were denied. Here we are, 73 years old and just on Social Security and husband works 4 hours a day, just to make ends meet. His Social Security nearly all goes to them.
Please don't deal with Wells Fargo, as they lead you to think everything is going good, when it is not.
Wells fargo is a rip-off!
Arlene Phoenix Oregon
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