Nov. 2008 we submitted paper work to Wells Fargo to request a loan mod. We would follow up all the time. Some Wells reps would say we have no info on you and others would say do you want to foreclose?
After seven months of waiting for an answer, they informed us that due to our debt to income ratio we were denied. When my husband and I reviewed the paper work, we realized they had added everything up incorrectly and to top it off did not have our income correct. When we notified them about that, they told us we had to start all over Rather than just fixin the numbers we had to rewrite a hardship letter and fill out ALL the paper work again. We do it.
Now we get a letter saying our Mortgage Insurance Co denied us. We don't have PMI. How could something we don't have make a decision for us? We call again and they are puzzled. No one understood. The Supervisor states that our home owners ins denied us. WHAT? That has nothing to do w / this!!! I told them that.
Then finally, Wells Fargo says that our investor said it would not benefit them so we were denied once again. I asked who our investor was and it Leahmen Bros. They are no longer in business. So, we have a "dead" co telling us no, according to Wells Fargo. So I hang up and call right back to see what the next person would say and they said that we only have $145.00 left over after our expenses and that is not enough.
If I had enough money, I would not need a loan mod. If I was given the loan mod, I would have more money at the end of the month. They said I can't afford to pay less mortgage but I can afford paying my current mortgage (which is more)?
The number one answer I have from them is "Do you wanna foreclose?"
They are not honest, not organized, not knowledgable and not interested in helping you.
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