Kinda different from the posts i've read about Wells Fargo/ASC.
Wells Fargo wouldn't take a payment from me (60 days late) until I "allowed" myself to get into Loss Mitigation. I made the payment that day and if I made all back payments, including current months, the mitigation would be voided.
I decided NOT to go into mitigation and made the payments. I'm a self-employed person and cash flow is a problem at times.
Now I can't make a payment over the phone unless I talk to Loss Mitigation. It's the wierdest thing I've experienced.
To make a payment, I have to got thru the "just in time payment" over the phone, get transferred, get told I'm in Loss Mitigation and need to abide by my "terms", and make a payment.
I have to mention, I have late fees they want paid. I refuse to pay them until I sell the house (which will be a long time from now). I also have "mysterious" fees they can't describe to me that I have to pay. One amounts to $95.00 another for $31.25 (inspection fee).
I think I'm in Loss Mitigation because they initiated something and incurred fees and want them paid. They can't foreclose on me when all I owe are late fees but what are these other fees that they can't explain?
This last time, I actually spoke to a "Loss Mitigation" person and she insisted I was in their program. "I'm NOT!", I said. Didn't consumate the deal (it was a dud anyway, increased my payments to make a payment). She says, "I'll take you off". We'll see.
I see so many posts for people that want Loss Mitigation with Wells Fargo. I feel their pain but Wells Fargo doesn't make any efforts to adjust a payment.
They make more money on the foreclosure process then they'd ever make on interest alone. Not to mention the "investors" interests they are trying to insure on our backs.
Who says that banks owning property isn't the real end-game? The banks won't own the property, the investors will. No regulation about that eh? And who are they?
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