Wells Fargo Home Mortgage Company Loan Modification Run Around CAROL STREAM, Illinois
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Wells Fargo Home Mortgage took over my loan a while back. As everything else in life all things are fine until you have a problem and that when you realized the people that are handling your money or your lively hood is full of TRASH!!!
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I called Wells Fargo Home Mortgage back in March 2009 to let them know I was going to be late on my payment. Which I did pay the payment late with the late fee, They didnt offer to waive the late fee or anything seeing I had not been late on my loan in the 4 years of living in my home.
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I have lost 2 jobs since I first bought my home back in 2005. And in the 4th year I call and say that I am having problems and here is the run around I have been getting. I called in April 2009 to let them know I would be unable to pay. May comes around I called and ask if they had anything they can do for someone that is struggling to make payments. They told me I am not behind enough for them to assist me. First they went through my expense and bills over the phone and wanting to know what I paid. Even wanted to know my grocery amount, if I buy cat food and personal items. I had to fax all that stuff and then I get letter saying that I was denied because my expenses are more then what I bring home. Well I told them that over the phone. You denied me for that. Your job is to help. I am aware of the expense problem. I HATE WELLS FARGO!!!!
By the time they looked at my paperwork I was two-payments behind by then.
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Now, I am still 2 payments behind so I make one-payment so it wouldnt look like there is 3 payments behind. They dont just move payments to the end they would have to do a loan modification. So I refax my stuff again after I was denied. I call a week later they didnt get. I fax it again they didnt get it. I fax again they didnt get it. So I fill out the form online for the loan modification fax my stuff again. They send a letter saying Im denied because of my expense being more then what I bring home.
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Every month the same thing. I get a loan modification company to call on my behalf and I fill out authorization forms. We fax that over back in May. He spoke with the department that handles modification. But when I called to check on my account they claim they didnt receive anything.
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Every month the same thing. Fax nothing or Fax and decline expenses are to much to keep the house. The sad part is I been paying Wells Fargo Home Mortgage all this time with the same expense problem. But now Im two payments behind that your answer for everything.
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I have gone to another company that handle loan modifications we sent this information back in Aug. I been getting letters saying it takes 45-60 days for an update. Please be patience but keep making payments. It is now November 2, 2009; I call to find out why I havent they completed this modification and what is taking so long. They told me that I was denied back in September but no letter was sent to me. They also told me that I have to submit my paperwork every 30 days they cant go off old information. WHEN WERE THEY GOING TO TELL THE CUSTOMER THIS MESS!!!!! IM SO PISSED OFF.
I been dealing with this mess since April it has been 8 months. All they have been doing is bring down my credit so I cant get a home anywhere else. They dont care if I stay in that house or not. Wells Fargo wants me to loose my home. They want my credit to be bad. Each month those two payments are behind I get more and more late fees. I really dont know what else to do I guess I have to start the cycle again or just give up. My credit card companies have been more then welling to work with me then anything. But the place where I lay my head can care less if I have home to lay my head at. It should not take that long to do a modification. I talked with a Realtor. I bought my home for $98,000. I owe $93,000 and those homes are for sale now only $22,000
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Wells Fargo Home Mortgage doesnt want to take that lost but they would rather my credit be mess up why they are sitting on their hands doing nothing about my house payments. It needs to be something we can do about this company Wells Fargo Home Mortgage has taken advantage of many many people it has to be above them you can go to get help on your account. With all this said I still dont have it done
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From an upset and anger Fed-up Customer
5 Updates & Rebuttals
SNart
United States of AmericaAgreed
#6General Comment
Fri, December 04, 2009
You are definetly correct about Wells Fargo giving you a run around. Basically, the person on the other end, will not care about you. Wells Fargo is a large bank with very poor customer service and operational skills. All they care is what they can get away with it and that is the reason they are big and successful. Unfortunetly, in our sociecty we have become a culture that people will only listen to you if you have money. I bet all the people commenting you and telling you that is your fault, never had to deal with a situation like wells fargo.
Alison Cbar
Boca Raton,Florida,
United States of America
What to do
#6UPDATE Employee
Tue, November 24, 2009
First off I would like to say that your entire email was pretty much based on bad things that have happened to you due to loss of employment, which is NOT Wellsfargo's fault. You were denied for what's called back end debt to income ratio. Try to re-submit your application but this time don't max out your expenses. We don't care about your cat, I'm sorry but cat food is not something that we consider a priority over your mortgage payment. Add up your expenses, and leave off a lot of things like CAT FOOD and stuff and calculate 55% of that, it can't exceed your monthly income before taxes. You need to be pro active and not re-active and stop blaming everyone else for your personal problems. You commited to a mortgage payment and unfortunately it's not wellsfargo's fault that you lost your job(s). Why would they waive the mandatory late fee for YOU and not everyone else? You seem extremely selfish and this was a complete waste of a rip off report. Just so you know they could sue you for slander and defimation of character so I would stop with childish reports b/c you didn't get your way!
Karl
highlands ranch,Colorado,
U.S.A.
VALERIE, ISN'T IT IRONIC THAT THE GOVERNMENT....
#6Consumer Comment
Tue, November 03, 2009
believes that there are corporations that are "TOO BIG TO FAIL", and these corporations are 'bailed-out' with TAXPAYER'S money, and then the American people are left with 'broken promises' and 'false hope' from the ones who made sure that the CEO's & other executives at these large corporations continue making their MILLIONS upon MILLIONS of dollars in compensation?
Christiana
Cincinnati,Ohio,
U.S.A.
Wells Fargo is no different
#6General Comment
Tue, November 03, 2009
I'm sorry you are having financial problems, but the bank held up their end of the bargain, and now its up to you to hold up yours. The bank is not there to be your friend but its there to make money. I'll never understand why people get all honked off at the banks when they don't fall all over themselves trying to accomodate every ones needs.
Borrowing is a simple case of they loan it, you pay it back. They didn't ruin your credit score, your loss of employment did that. And no, actually hell no, they aren't going to give you a break and just write off your loan as a loss and let you go about your business. Are you one of the many people who got a loan when the banks/government was doling it out to anyone in any financial shape? Unfortunately that has ruined too many people, and so many now are dealing with the fallout.
Susan
This City,Illinois,
U.S.A.
hmmm
#6Consumer Comment
Tue, November 03, 2009
You said you bought your home for $98,000 in 2005 and today you still owe $93,000?
In 4 years you only have $5000 in equity, you must have missed many payments. Now you blaim Wells Fargo but not the other company who also won't refinance for you?
How is it anyones fault that you are 2 months behind? You say your credit card company is working with you. Idea stop charging and pay the mortgage.
$98,000 in 2005, your monthly mortgage would be less than you can get a crappy apartment for. Your big mistake is that you didnt learn that the bills you always pay first are for your home. Mortgage, gas, electric.
Oh and the faxing, you are in Warren, MI. You could have walked into a local WF and they could have helped you better.