Wells Fargo review: loan modification bs 128

I also have been trying to get loan modification from Wells Fargo. But they make it impossible by asking paperwork you cannot provide. I got loan modification from Countrywide, Indymac and Aurora, but Wells Fargo is the only company which made it impossible. They require some paperwork and you provide and then they come back and ask for more and there is no end and that way they make you give up.
I provided fewer documents for all the other companies and they did it because my hardship was very obvious. But Wells Fargo made it impossible. So they were denying without telling you in a smart way. Other Banks' loans were 1st and Wells Fargo's was 2nd and the amount was not even a lot. So I realized they do not care about customers at all.
I also tried to help my relative and sent yearly Social Security Income statement for two years. I also provided bank statements which showed the direct deposit. But Wells Fargo closed the case because we did not provide monthly statements when my relative was not getting. But they had yearly statements and bank statements which proved Social Security Income. On the other hand other banks like Countrywide and Aurora gave loan modification based on the yearly statements and bank statements.
Wells Fargo was the worst bank I have experienced and I have been their preferred customers for many years, which made me more upset. That bank does not care about their customers at all. I hope nobody goes through the same stress and bad experience I had with them.

Oh my God! This is exactly what we are going through! My husband and I have been fighting with Wells Fargo since the end of 2008 when I lost my job. I finally found a new job and now they want 3x our monthy payment every month! There is no way we can come up with that much! I told them I got a job not that I became a millionaire! We've sent in our financial paperwork over 5 times now and today the asked for it one more time! Everytime we send it in, they keep telling us that we need to make payments of $2200/month! Today they told us that we actually missed a payment yesterday of $2200, but when we called them last week they told us again, that our program was still being worked on... we've received nothing in the mail and no phone calls... were we supposed to hack into their computers to find out that we were supposed to start paying payments of $2200?

My biggest frustration is that there is no where for the consumer to turn, there is no avenue for us to take to get help! We've been doing everything they've told us to do and we've bent over backwards to keep our house... all we get is half assed service from a company that has been bailed out and is making profit! Where is all that money? Aren't they supposed to be using it to help people in our situations? It's not like we've all just decided that we didn't want to pay our mortgages! Frustrating isn't even a good enough word!

I've also been given the runaround with WF. It's soooooo frustrating.

I applied for the Home Loan Modification program on 3/31/09. At that time, I faxed in the required docs (hardship letter, proof of income, and monthly expense report). I was told on 4/22/09 that my application was assigned to a negotiator on 4/20/09, everything needed had been received and it normally takes 45 days for a determination to be made.

On 5/20/09 I was told that my application was being considered for the Home Owner Affordability Plan and that they were waiting for an outdoor appraisal (BPO) to come in. Once received, the loan docs would be sent via UPS and it nomally takes one weeks for the BPO to come in.

On 6/22/09 I was told that the BPO finally came came back on 6/20/09 and my application was still under review. They are now considering me for the Home Affordability Refinance Plan (HARP) and I was transfered to the refinance people. OK, why when the refinance lady gets on the line she tells me that I do not qualify for HARP because I pay private mortgage insurance (PMI) on my loan so would I like to refinance my loan. HELL to the NAH.. Why should I refinance, and have to pay high refinance fees when I clearly qualify for the Home Owner Affordability Program. Sounds to me like WF is trying to run a SCAM. I hang up from the agent and immediately call WF back. This time I'm told that she's not sure why the agents would tell me that I was being considered for HARP, it clearly states that my application is still under review. When I tell her that I was originally told the application process would take 45 days, her response was: "I'm not sure why the agents would give you a date.. the review process could take 90 days." HELLO.. What kind of games are they playing.. Each time you call WF: they ask, are you planning on staying and keeping your home. HELLO.. Yeah, but if she keep giving me the run around and I keep having to rob Peter to pay Paul.. HELL NAH.. I'm not going to be able to keep my home.

Does anyone know of a consumer complaint number? WF should be following the federal guidelines and there has to be someone out there policing these mortgage companies.

6-30-09
Hi
I have the same problem. Wellsfargo is playing games.
It's a time game. At the end, you go into foreclosure.
I am searching for the right organization to report this to.
A co-worker referred me to loansafe.org. However, there
must be a government agency that can do something about this.
I won't stop. I will contact Barac Obama personally if I have to.
I will keep this site updated.
Annoyed

6-30-09
I am still working on this.
In the meantime, please submit your complaint to:
www.whitehouse.gov/contact.
It will go to Barac Obama.
Thanks

6-30-09 update
Hi
Also contact the president and CEO of Wellsfargo. His email address is john.g.stumpf@wellsfargo.com.

Also visit this website:
http://consumerist.com/5053958/contact-info-for-wells-fargo-ceo-john-stumpf-and-friends

Send letters to Congress (your elected representatives), President Obama and Treasury Sec. Geitner and ask for an investigation. The more people who do so, the faster we will get help. There is strength in numbers.

More to come.

I am sorry to hear what happened thats why I entrusted in a law firm to get my Modification done. I recently did a loan Modification with the Al Verdi Law Group. They walked me through every step of the process from start to finish, I was very fortunate to find such a wonderful company to work with. If I may recommend any company to do your loan modification I would give them a call, they did my entire loan modification in exactly 47 days and anytime I had a question they were very responsive in getting right back to me. Its unfortunate there are so many bad company's out there, If anyone comes across any other bad companies please post because no one deserves to get there house taken from them. You can contact them at [protected] The gentlemen I worked with name was Cale Swanson

I recently tried to apply for a loan modification through my bank (Wells Fargo) on my own. I started this process in Aug. 2008, but simply got no where, because they were not willing to cooperate because I had been current and never missed a payment. My 2 yr. fixed rate was going to be adjustable come Jan. 2009, and I was already $100, 000.00 upside down on my home. I called them at least 100 million times to get this done early or even at all. All reps didn't anything about my account and the paperwork I sent. They always said "they didn't see any record of any paperwork or of me even calling". So after some research I come across a company called U.S.A. Home Relief Inc. that guaranteed to lower my principal balance. I gave them a call and they said I was the perfect candidate for a loan modification. They required some paperwork from me and I sent it as soon as they asked for it. They advised me to stop making payments to my bank to prove I was in a hardship. So I did, being that they were "professional lawyers". Well, they also required to pay them $2, 000.00 upfront before the "real" process began. So I did, being that they "guaranteed" to lower my principal, interest rate, and monthly payment. Now, keep in mind this has already been a month and a half of just sending them the required paperwork and doing what they asked, but the "real" processed wasn't really going to start until they received their payment. This processed started Feb. 2009, and now it's July 2009 and they are telling me that the only option I have is a forbearance option, meaning I have to make 3 payments in row before Wells Fargo can except my loan modification. So if I make those payments and they still deny my loan modification, I have not only messed up my credit for not making payments for 6 months, but now I'm in the same predicament I was in before this headache and nightmare. So my advise to all people in a hardship and are looking toward getting a loan modification, do it yourself with your own bank instead of paying someone a large sum of money to do nothing.

Holy cow...I am sure glad that I looked here. We also have WF and requested a modification on our loan. We were told it would take 60-90 days then 30-45 days. We were assigned a negotiator on the 13th of July..on the 17th we got a letter stating our loan was being reviewed and we would hear from them in 30-45 days on the 21..we got a letter via UPS from WF saying that we would have to pay $2200 in Oct as agreed..I have never talked to anyone who told me anything bout this amount...I have called every week and they all told me it was being reviewed..typical BS. So I call and ask WTH is this letter and what does it mean? Basically in a nut shell we dont have to make our Aug Sept or Oct payment til Oct 17 and then we have to pay them all on the 17th..taxes interest escrow everything and he told me to use our monthly payments to eliminate unecessary bills like telephone, cable, vehicle..etc...OK..hello..if I use that money to pay stuff off..where in the he$$ do they think I will get the $2200 in Oct.?..on yea I have a big ole money tree growin in my back yard. We do have cc debt which I am filing bankruptcy on they are in my name and we have had to use them since my husband lost his job...so I told him I was eliminating that debt and that now I would have a bankruptcy on my credit report and if i reapply WF wont help cause I have a bankruptcy...he didnt say a word! How exactly is putting off the payments for 2 months supposed to help? When if I wouldnt pay all 3 months in the end I am going to loose my house and it clearly says that I will and they will charge me unruley fees etc. He also told me when I eliminate some of the debt to reapply..WTH..then they are going to stay..they have plenty of income and no debt so they dont need it. We are a family of 6 and do not have a BIG fancy house..1800 sq ft total...my husband is very fortunate to find another job, but making less than half of his previous employment. WF is a joke..and if we could afford it..I would refi through a local bank and SCREW WF...they are too big and have a lot of power and they are using it to screw the little people..TY WF for NOTHING...Obama needs to be talking to all of US..not like he would listen!

I AM GOING THROUGH HARDSHIP WITH WELLS FARGO I JUST POSTED A LETTER ON THIS SITE. SOMEONE SOMEWHERE NEEDS TO STEP IN AND CLEAN THEM UP AS THEY ARE CLEANING US OUT.

Hi,
UNBELIEVABLE. IT WAS RECOMMENDED TO ME THAT I apply for a loan modification, through WELLS FARGO. I called and was put through to a different department. Strangely, it was never referred to at ANY TIME DURING MY 20 CALLS that the department was legit but somehow I got tossed around from rep to rep to rep. I followed protocol, that is, applied for a loan reduction explaining my hardship. They requested my income and montghly expense differentiation. My salry was cut in half so obviously I could not pay my bills to the degree that I was used to. In order to keep my house, I was told by a rep that Well Fargo wanted to keep me rather than lose me as it would benefit us both. Naturally I assumed they were taking me seriously and would help lower my monthly costs to some degree. I pay on time, have over 100, 000 equity but am in no position to sell or refi. I waited weeks and was told to keep "calling" and asking how the progress is going. They all said that is is in "negotiation". I finally received a letter saying that they would have an answer in 30 days. This never came to fruition. I spoke with rep after rep and none of them knew a thing but one said I was denied. Furious I responded by saying on what grounds? She said I don't make enough money. DAH BEAVIS-why apply for a reduction if I could afford the dang loan in the first place. They became inreasonable and hun up on me. I then spoke with the next rep who had no sign or knwoledge that I had been declined. Ir elaized I was being lied to so I asked for a manager to call. They never called back. Ic alled again to be treated with disrespect and be out on hold and told all the suipervisors were busy but would call me back. NOT ONE so called wells fargo manager EVER called me back. I am begining to think there are no managers. I would like to speak with the president of the company for an expalnation of the rat race he is running. They make a lot of money on me per year-roughly 13, 000.00, yet they have no value or qualified employees to have the decency to call me back? I need a job. Why hire schmo's who have no clue? This issue is still unresolved. I have filed a complaint with the better business bureau. It could be a reverse discrimination if they see you are educated then you are last on the list.

SO, reading your situations I realize that Wells Fargo does not reduce loans on a permanent basis, or even reduce them at all they just make you think that by loowering one or two months they are helping you. If they cut all of these [censored]s jobs and hired us, they could save on the [censored]s salries and we could actually reduce loans not lie and tell people we are going to help them and then not really help them. They use two month decoys. Ya know I actually thought there was one good mortgage company out there but now I realize they are based on and originated by greed which attracts greedy people. the in terest on homes has always been insanely high as opposed to everything else necessary in the economy. I own only a townhome. I pay 1300 a month and have had many hardships as of lately. Iw as only looking fore a small cut for help-maybe 200.00 even though I need more. By delaying this process they have caused me more of a financial hardship and they have completely losy my trust.

I agree with everything all of you saying, I applied in Feb 2009 and I have had nothing but the RUN around, now that it is getting closer I guess it was closer those idiots withdrew my loan modification. This is entire process was joke. Wells has been giving money by government but yet they are distributing it like they should. Now Wells told me I will need to apply all over again, same process again with no resolution

I meant to say they are NOT distributing the money like they should. I am just so frustrated...with this entire WELLS FARGO MODIFICATION

I also am going through the EXACT same thing except I got a letter now, months and months later, stating I was approved for $150.00 dollars less. LOL! Are you kidding me that still does not even bring us close to 31%. Also without my husbands unemployment check it would be higher then that. This company is literally screwing with people. It makes me sick. There has to be something done, who is regualting this? If anyone has a answer I would love to here.

This is incredible. I thought we were the only ones that were given the " run around by Wells Fargo. We have also been trying to get a loan modification since April 2009. I have called week in and week out to find out the status.
We have been getting the exact same response as everyone else. We faxed all pertinent information then follow up to find out if they recieved it We talked to a rep who verifies that all informtion has been recieved.
Then we call again as instructed, we then get a different rep asking for the same information that we provided months ago. We have fax all financial information fifteen times over the last five months. One rep give us a different version and another one tells us that we are on a waiting list to be assigned to a " negotiator". Wells fargo does not want to help their customers.
I think this is deliberate and contrive to discourage their customers to stop calling. Can someone put a stop to this nonsense. Where can we go for real help.

All I can say is WOW! Apparently I'm in a very large boat...I've been attempting to get a loan modification through Wells Fargo since April 3, 2009. Faxed documents (more than once), UPS'ed documents, called every week for months for an update, tried checking the status of my claim on line (the site never works), get asked the same questions when I call "Are you currently living in the home and do you plan on keeping the home?". I received a letter from Wells Fargo on July 27, 2009 letting me know that they have received my request for assistance with my mortgage payment challenges, that my information is being reviewed and that I can expect to receive a final decision on my request in the next 45 - 60 days. ANOTHER 45 - 60 days? I started this process back on April 3rd! Under the "next steps" section of the letter they say to "continue to make your monthly payments", if I could continue to make my monthly payment why would I be asking for a loan modification? I can see that this whole modification process is a scam and there's no need for me to keep banging my head against the wall by calling Wells Fargo and asking for updates...the loan modification isn't going to happen.

Wells Fargo does "NOT" do loan mods I have been going through this for the past 2 years! and the only thing that they can offer is a FOREBEARANCE plan. We have been in 4 Forebearance plans satisfied and have been promised that after we satisfy the plan our loan would be considered for a MODIFICATION, we are still going through this and no MOD yet! Forebearance plans is just Bad money after bad money! That money does NOT get applied to your loan it goes into a suspension account (your payments floating). So once this suspension account gets to a certain point they send you a check. We received a check last year for 12, 000 and this month for 17, 000 Monies that were never applied to our account! thats why our balance is also so high! Always told to not make payments when I started this process we owed 15, 000 now we are up to 102, 000 not to mention how this has affected our income taxes. Forebearance plans are very, very, BAD and the payment is ALWAYS! much higher, we as consumers agree to them because we do not want to lose our homes, and we feel thankful that they are thumping us a helpful hand!

Like so many of you here, I am also cuaght in the "HARP" strings with Wells Fargo. Starte the process in February base on the Obama program, only to be told that because I carry PMI, I was not eligible yet, but be patient and it would happen.Now 6 months later, still no resolution and no word from WF.

Have never dealt with them before and only wish I could leave them now, however as many of you - not able to do so...
Do they really want us all to stop making mortgage payments and see what happens? Would it not be better to work with us now before it is too late?

This is so discouraging. We've been dealing with WF since April 2009. Every month we get a letter saying we have to resubmit 3 month income/expense list, salary updates, additional hardship letter AND, their letters always threaten us with "if we don't receive a response within 10 days we'll consider this application canceled." Like most of you we have also been told, it's in the process, the negotiator is reveiwing it, etc. Yesterday we were told that we have sign and date every page we've submitted and include the account # on each page!. WE are about to give up, but we are going to contact our congressman and senator and the president, also the Federal Trade Commission. SOME SHOULD HEAR OUR PLEA!

Just wanted to provide you guys with an update..

Per Ashton19's suggestion above, I e-mailed the top executives on June 30, 2009 a very detailed letter explaining how frustrated I was with the entire process. I basically wrote exactly what I wrote above.

I also called Wells Fargo on July 31, 2009 and told them that I would not be making any more payments because I simply could not afford to and would like to get more info about a short sale. Well, the short sale request back fired on me because according to them "WF can not consider my loan for modification and send me info about short sale so they closed my loan mod on July 31, 2009. WF could only do one or the other".

On August 5, 2009 I immediately requested that they reopen my loan mod and refaxed all the necessary docs. After calling them three days in a row to find out if my loan mod was reopened, I was finally told on August 10, 2009 that my loan mod had been reopened and another appraisal (BPO) had to be done.

Well, on August 17, 2009 I get a call from someone in WF's executive office. She stated that she received my e-mailed complaint, apologized for the poor customer service and stated that my loan mod was APPROVED. Well sort-of. I was told that I would be receiving some paperwork in the mail and may need to turn in some more documentation, but I was approved for the Mod on a 3 month trial basis. She said this was standard and my loan payment will be reduced from $2211 to $1956.

Although, I'm not sure how Wells Fargo came up with the $1956 payment (because 31% of my income should put my payment at $1805) e-mailing the executives WORKS..

E-mail the executives.. E-mail the executives.. E-mail the executives. I got results only after e-mailing the executives.

Here are the e-mail addresses I sent my Wells Fargo complaint to: John.G.Stumpf@wellsfargo.com, Howard.I.Atkins@wellsfargo.com, James.M.Strother@wellsfargo.com, Richard.D.Levy@wellsfargo.com, Mark.C.Oman@wellsfargo.com, David.A.Hoyt@wellsfargo.com.

Note: Some of the e-mails bounced back, but someone above looked into my complaint so I would suggest e-mailing them ALL.

Good luck.

The government has mandated that all banks do loan mods to help owners stay in their homes, even Wells Fargo. The govt. even pays them to do loan mods. But the banks think they can get more money out of you because you don't know how it all works.
So hang up the phone and hire a lawyer that specializes in loan mods to represent you. You're talking with the Customer service dept and the Collections Dept. Their job is to get as much money out of you as they can. Banks have no respect for individual homeowners. Everyone I know who has tried to get a loan mod themselves has been screwed over or turned down by their bank.

Attorneys that specialize in loan mods, know who to talk to at the bank, (By the way it's the Loss Mitigation dept.) what to say, and yes even what to threaten, to get you back on track. Face it, you'd never have the B___S to threaten your bank.

It will cost you $1500.00 to $2500.00, but that' s a lot less than the cost of moving, plus first, last and a month's security, (if someone will even rent to you after you've been foreclosed on). And what about the mental strain. In a properly negotiated loan mod, all back payments are put on the end of your loan. Therefore, the 1st thing the attorney will advise you to do is stop paying your mortgage. That will help you accumulate the money to pay the his/her fee as it usually takes 60 to 90 days for a loan mod to go through.

If you can't find a good attorney call me at [protected] and I'll recommend one for FREE. And it won't be my brother-in law. I run a FREE legal referral service for distressed homeowners in FL. and i've been a victim like you.

Contact the president and CEO of Wellsfargo. His email address is john.g.stumpf@wellsfargo.com.

Also visit this website:
http://consumerist.com/5053958/contact-info-for-wells-fargo-ceo-john-stumpf-and-friends

Send letters to Congress (your elected representatives), President Obama and Treasury Sec. Geitner and ask for an investigation. The more people who do so, the faster we will get help. There is strength in numbers.

We the people need to take back what is ours. Our President gave WF a hugh loan. That is using our taxes it is suppose to be used for the Loan Mod. program. Use these e mail address and get on the phone and push for what is right.
BTW...I'm in the same boat! Good Luck to all!

I have never had such unprofessional service as I have had with Wells Fargo. Since March. 09 I have been going round and round with them about getting a loan modification for our home. Obama was clear about the guidelines for his program, yet Wells Fargo is playing games to try to prolong the process. It is my understanding that Wells Fargo took 2.9 billion from the Federal government to make give relief to their customers just for Obama's plan. After 5 lost faxes and 15 phone calls (all averaging over 1 hour) we have been forced to stop payment on our home due to significant lost of income. Meanwhile, we were sent bogus paperwork saying we agreed to a partial payment plan (which we never did) called a forbearance. After calling Wells Fargo to find out what this was about, some fool said that we made too little of money to qualify for Obama's plan. After asking to speak to his supervisor, the supervisor said that wasn't true...we made too much money. After talking to HIS supervisor, it turns out they lost the 5th fax and never updated the information. Meanwhile, it is OUR credit, OUR life, OUR stress, and basically OUR problem. We are not asking for anything that we are not supposed to get according to the President. Since when can a mortgage company not follow the leader of the nation's law? I am amazed at how many good, hard working people have been laid off from jobs and yet Wells Fargo has managed to employee the most incompetent people that walk the face of this earth. To make matters worse, it is these individuals who have access to my private information. These are indeed sad times for the common consumer! Good luck everyone! Keep posting your experiences for everyone to see. That is the best way to deter business from this company!

After reading these posts, I am wondering if it is time for a class action lawsuit? I have a friend who knows a wonderful real estate attorney. I think it may be worth a phone call tomorrow!

Like so many others on this site, I began dealing with Wells Fargo August 2008. I went through HOPE as required by Wells Fargo, submitting all of the financial paperwork, and calling every week. 7 months later, they determined that I am not eligible for anything other than a short sale. I told them that was not an option because all but 2 houses on my street are in foreclosure or have short sale signs. When you can buy the same house (as mine) brand new with a pool for $40, 000 and I owe $177, 000 who is going to buy it? Anyhow, I was told I did not qualify because I have an FHA loan and because of my debt to income ratio-I have more expenses than I make a month I was not eligible for any programs. I said if I made enough money to pay all of my bills I would not need assistance, but that did not matter. So here we are a year later, I am still in my house, I called Wells Fargo again about a loan modification and could not be "pre approved" and would need to resend all of my financial information. As an only parent, who commutes 106 mile a day to work--I am thinking that I might walk away from the house. I can find a place to rent for 1/3 of my mortgage payment and in 2 years I will be able to buy another home (according to a mortgage broker I spoke with). Of course I lose the $15, 000 I put down on the house but I am letting go of a mortgage with a balance of $170, 000 that is now valued at $52, 000. In this economy, it would not sell for that much.

I was also told that if you have mortgage insurance, the holders are less likely to negotiate the loan because it is insured!

I have lso been going through the same thing as all of you. After 8 months, 6 faxes with Hardship letter and monthly bill statement, 27 calls, I hope House fax, to no don't make a payment yet until we put you on a plan, make march, april and may and then we will see if you quailify for a loan modification, my loss mitigation case was closed within weeks after I sent faxes all 6 of them with the information they requested, I made 3 payments 2 in March and one in April, they said I broke the agreement because they did not cash my check before the March 18th deadline. The I faxed the information again and on let put you on another payment plan, again the same thing happens. I finally contact my Attorney General in Missouri, I was denied a loan modification 6 days after WF got the letter form the attorney generals office, then I called because my August check was cash but they send me back a check for the exact amount I called to find out why and I was told my house was foreclosed on August 24th and sold thet morning...I freaked, I said you sold me house this morning? They said as far as I can tell yes we did, you did not make your August payment...the also in June 30th presented me with a payment plan, pay August, Sept and Oct on time and we will review you att he time, in order to get the deal...Drew said I have to have your account to set the payments up, so I agreed, so we set them up, July 1 my account was hit for a 1000.00 by electronic check from WFHM, then again on July 4-5 and on July 8 they hit me 4 tiimes in one day, I went to my bank and stopped it. They tried to collect my August payment on July 1st and then I get a letter saying, because you had NSF, your house is now set for foreclosure Aug 24th at 9am. Again I called them, refax your informationa nd we will reactive your acct and put you back on the payment plan. I got hit for 80.00 of bank fees I had to eat all because WFHM hit my acct a month before apyment was due.
I am hoping the Attorney Generals office can help me...So far in the 8 months I have been fight with WFHM, I have been sent paperwork I have never seen before, hardship avidavit, 3 months utiliy bills my bank statments, taxes, all kinds of stuff.
I found out my house was NOT foreclosed on.
I will post an update soon...
you can email me at deblyn62@sbcglobal.net, I would be happy to forward any complaints to missouri state attornrys office!

I requested modification from Wells in November before I was late due to a rare unexplainable illness. I only needed slight relief, but was told NOT to make a payment because I had to be late to be considered for modification! After 9 months of run around, jumping through hoops 9including the "hope hotline" replacing expired documents and calling three times a week to get reassurance that I was approved for the modification I called to be informed that I didn't meet investor guidelines! Then that my home was in foreclosure! A sale date was scheduled (threatened as it turns out) and cancelled without notification and we were apparently kicked out of the modification process twice for not providing documents. Are you kidding me? I've called 3 times a week since November and haven't yet gotten someone who knew anyone else that I spoke with or a supervisor who knew anything about any of the employee reference id #'s that they give you when you ask for their agent id! Just last week we were told that we were approved for a Home Affordable modification under Obama’s new plan by Gilbert ID #HUG, who assured me & I quote verbatim, "You WILL get modified, Yes Mam!, " when I explained that I spent 9 months with reps just like him assuring me of the same thing before. I was going to sell the house, but was told that this would cause me to get kicked out of modification so I took the sign down! ARGGGH Gilbert swore to me that "there was no chance that you will be denied!" BUT today I come home to a letter telling me that I have been denied for failure to provide documents! In two weeks I leave to go to Johns Hopkins for HiCy Chemotherapy for a month! What am I going to do now? I called and they want me to start all over! They say that Gilbert misinformed me and that I don't even qualify for Home Affordable, yet I have a letter from the senior VP of WF saying I do and that one 15 minute call will give me an immediate decision and the opportunity to make my first payment over the phone! I have a small child and how in the world can we move with me in the hospital 4 hours away from home going bald and incredibly sick with no immune system and in need of a blood transfusion? How can they get away with this?! Is there anyone who can help?!I'm now like 28 grand behind and I only needed a couple hundred dollar modification... on my loan that's like a modified rate of 6.77! That's still way above market!... greedy greedy greedy investors! And if they foreclose they are going to lose big time despite my downpayment because the value of my house has decreased so much that it's worth about $43, 000 less than what I owe before any commissions are paid or they have any foreclosure expenses! What fools! "Don’t make a payment or you won't be considered...Don’t make a payment we will send it back...Don’t try to sell your house or you'll be kicked out...You can't give us a deed in lieu because you haven't tried to sell your house for the past 90 days first...We will only stop foreclosure for a short sale if you have an approved offer which (once I get one HA) will take 50-100 days to get approved!...you are approved...you failed your trial period because you didn’t provide documents... what trial period?” BAD ADVICE! DON’T TAKE IT!
I'm back at square one and I don't know what to do... I'm all ears for advice this is ridiculous!
I've called 3 times a week for 10 months never speaking to the same person... say each call took only an hour (which as you know is a HUGE understatement I was on the phone for over two hours tonight alone!)... I figure I've spent a minimum of 156 hours on the phone with their reps feeding me lies! That's only 12 hours shy of a week! If I do what they ask and resubmit a new set of documents I will be starting all over with the people making their first call today!
I asked the supervisor (senior rep) tonight, at what point are your representatives responsible for what they tell your customers and at what point is WF responsible for what their reps say! This is fraud and they know it! Is there no accountability?! How can we make them accountable?
I understand that I agreed to pay the mortgage and I contacted them when circumstances beyond my control made it difficult and I contacted them before I was late. I followed all of their advice and did everything they asked of me, now I'm in chemo and foreclosure! Even if they had said that they couldn’t help me in the beginning, I could have salvaged my credit (the only thing late is my mortgage!) and moved when I was in remission!

we have been dealing with the loan modification scam since november 2008...needless to say, today in 4 hours my husband and i r going to court to try to keep our house. we were forced into forclosure on july 7, 2009 after being told for 9 mths that we were in the process of being reviewed for a loan modification and not to pay our mthly payments. when we actually did pay a pymt in jam 2009 of $3, 000.00 they only credited our acount $800.00! can u believe that?!?! they said we had some "corporate advance " charges that equaled $2, 200.00, and when we looked up corporate advance charges online guess what we found...SCAM! Just another way for companies to scam people out of money. Anyway, so after we were foreclosed in july, WF SOLD OUR HOUSE out from under us to Freddie Mac! So now we r stuck trying to explain this to another company that is running us in circles-freddie mac never calls us back! They thing that is the most unbelievable is that we have had the money to pay for some time now but they won't let us! How r we supposed to win!?! Why would they kick someone out that can pay and then jgo thu the hassle of trying to sell it to someone else who probably will end up in our same predicament. It probably has something to do with the fact that we have been paying on a 15 yr mortgage for 6 yrs now and they are after our equity. we were given a # by someone to make a cvlaim against wells fargo but when we caslled they said we had to have the names of all the reps we talked to on the phone and dates and all that mess. the problem is this has been going on for so long that we have literally talked to atleast 30 people at WF and we didn't get names. of course we had no idea almost a yr ago, when this all started, that there would be a reason to get names and all that. ISN'T THERE ANYONE WHO CAN HELP!?!?I will post later about what happens at court today...

Wells Fargo WANTS to foreclose on you - you remember that little sentence about MERS on your mortgage document?

MERS is an agent for EVERY Bank that services mortgages.

If they can get you to foreclose, they will LOSE NOTHING, since you, and the people who owned the home before you, already paid interest far in excess of what the home is worth.

When you are foreclosed upon, you lose everything you already paid, PLUS the house.

The Bank will get another mortgage on it, add MERS as mortgagee (actually a strawman for the Banks to claim non-liability as "assignees" of MERS), and continue to get paid on the next mortgage!

The whole plan is wrought out so that no one EVER owns the home, and the BANKS GET PAID OVER AND OVER, EVERYTIME THEY FORECLOSE!

They say they don't want your house...mmm...request a payoff letter, and just listen to what they will tell you! They don't want you to pay your house off, no sir! They want you to lose the house so they can get paid AGAIN!

Hello Everyone,

I work for Wells Fargo and everything you are saying about the modification program I see happening every single day. You are correct every rep you speak to says something different and the only excuse for that is lack of proper training on wells fargo part. Most of the reps have no idea what they are talking about and frankly they do not care about you or your home. This is where I am different from them. I know these programs like the back of my hand and I care, what is happening to all of you is not right and it is not the way this program was setup to run. I want to explain the Moratorium to you, most of the time the moratorium is setup where you pay less for a set period of months and then you have a ballon payment due. During this moratorium wells fargo is sapposed to be reviewing for options such a full modification. If it comes cloe to that ballon payment and there is no decsion the borrower is to call and advise of that so that an esculation can be sent to avoid any foreclosure activities while the file continues to be reviewed. Foreclosure should not ever be started due to nonpayment of htat agreement unless you fail to notify wells fargo that you cannot pay it. The program is setup to help you increase your income and decrease your exspenses so that you can get approved for a full modification. It is a very complicated thing if you dont fully understand the program. There are also other programs such as HAMP the home afordable modification program. This program is only for those loans that are fannie mae of freddie mac (many people do not understand that). If you do not know who your investor is you need to find out so you know. Wells Fargo owns some of the loans but most are through other investors and Wells Fargo is only a servicer. The HAMP program is not for everyone if you have to much of a deficit at the end of the month you are not going to qualify and that is when you woudl gwt offered a moratorium or forbearance agreement. the HAMP trial is based on 31% debt to income ratio using your gross income. If it is not going to help you taking it down that low your not going to be approved. If you can afford your payment and have a surplus at the end of the month by more then $500.00 you should not be applying for the program unless your loan is delinquent from a previous hardship. I am not saying that you have to be delinquent to get a mod but if you are not hurting dont take advantage of an offer that is there to help people in need. As far os submitting documents all the time that is becuase it is a requirement and they have be updated every 30 days with current info, thigns can change and wells fargo needs to take that into account it could result in a lower modified payment in some cases. I knwo it is frustrating to send these docs in time and time again but there is no way around it and honestly how hard is it to fax documents that you should already have copies of, back in with a new date, making any chages necessary to them. I am not saying that what wells fargo is doing is right at all! I am trying to expalin in the best way i can why things are the way they are. If you get told something different eveytime you call you should be requesting a supervisor to make sure that is correct and getting names and ID numbers so that you know hwo you talked to. I got a call today form a lady who was crying to me because she was on a plan and continued to pay her payments even after the plan was completed and wells fargo did not get her payments even though she has proven that she has paid them. This borrower is on foreclosure and let me tell you i almost cried with her on the phone. She was only 1 month behind when she need help and knwo she is showing as more then 7 months behind, as well as owing attorneys fees for a foreclosure that should nto have even started. I appologize if i have skipped between topics throughout this but it is very frustrating to me to see people hurting this way and nothing be done about it. I am not trying to make anyone of you upset by saying any of this i just want you all to understand the process that occurs and that you are not the only ones who disagree with this. I am embarressed to say that I work for Wells fargo! If any of you have any questions I will do my best to answer them.

Hello! I just read your post about WF modification. I appreciate your input and honesty! I am not going to bore you with my situation as it is almost identical to everyone elses on this complaint board! But since you do work for the company I am looking for your advice... My fiance applied for the mod after several factors lead to hardship. I thought he did everything PERFECT including paperwork, so-called "trial periods", and paying on time (he has never once been late with a payment but due to hardship, it was becoming a very good possibility), Right now he is being sent down the same dead-end path as all of these other people and I am trying to get him to quit while he is ahead. We are at the point where the "trial period" is supposed to be over and we were given a new mortgage amount to be automatically withrawn from our bank account in bi-weekly payments; since this is how he always has paid his mortgage. "Half" installments were never taken on 10-30-09 as we was CLEAR:Y specified by a confirmation document sent by WF. Today, after many phone calls, the ENTIRE payment was made but not "applied"..the same that has happened to everyone else. WF customer service is no help and doesn't know why we were approved for bi-weekly payments when the modification wasn't "approved" (which we assumed was since they set up a payment schedule).

Soooo...my question for you is...Is there a way to STOP the modification process, pay what is due..and get the hell out of this mess before it gets TOOO bad? Is that something they let people do? I really want him to look into refinancing with another bank. He has an EXCELLENT credit score and WF is saying that technically he is behind..they even sent someone to our house to "collect missing paperwork" for the modification. We had no idea there was anything..the payment was supposed to be taken? Anyway, I am just wondering if there is a way out while you are in the REVIEW process, and should we close that bank account before they take any more money from us to hold in these "suspense accounts"? We haven't been through the nightmare for as long as some of the other members of this site, but I want to take their advice and quit while we still can! I appreciate all the help you, or anyone else can provide me!

I have been trying to modify my mortgage with Wells Fargo on my own since Feb 2009 and have gone thru the process 2 time already. They just rejected any modification saying that I don't have a hardship despite of the facts submitted to them.

I had the similar experiences that others faced on this thread.
- excessive paperwork.. documents expire every 30 days.. even if your circumstances have not changed you need to resend the same papers with new dates and signatures.

-no single contact.. you get a new person everytime you call. They don'e even give their full names. I sometime feel they are not even real. I feel they are poor hourly laborers getting paid to keep distressed homeowners busy with the process and paperwork.

-they have no clue of the applicant's case/history.., every time you call you have to repeat the same information. The same is repeated if the call is transferred to another "identity-less" employee.

- many "false courtesy" letters and phone calls from Wells Fargo that don't provide any meaningful information ( I knew more because I called them daily to make sure they got everything they needed). It is very obvious that the bank is misusing the TARP funds to put up a "dog and pony show" while they continue fleecing the helpless homeowners.

-I spent two months preparing all paperwork, putting it all in the format that they specified and then their negotiater only talked to me for 5 mins to decline the modification. Plus she did not have a reasonable explanation for the decision.

In the end I have concluded that Wells Fargo is purposely delaying the process, trying to keep the hapless homeowners/applicants busy with the process till they either give up hope or at some point foreclose. They have no interest in understanding the applicants hardship nor do they intent to follow the true spirit of the HAMP.

I urge everyone facing the same issues to spread the word and write letters to your senators..

Wow, speechless to say the least! We've been through all these BS too for a while now. In fact, we just made 3 consecutive payments as we were instructed to do. Now we have to resubmit the hardship letter, check stubs, financial info, etc. So lets see what happens but after reading all of your responses, I'm not very optomistic on a positive outcome. It seems like they're steering us into failure. WTF, they need to be stopped ASAP!

Well... I completed my three month trial period and just got a letter indicating that my loan modification has been approved - under the new loan modification terms my mortgage payment will be INCREASED by $22.00. WTH? If I couldn't afford the original loan payment, how does WF think I can afford an increased mortgage payment. I just don't get it. I've been going back and forth with these IDIOTS for the past 8 months - faxing and refaxing documents. During the trial period, my mortgage payment went down $254.00 dollars. It wasn't much, but it helped. Now that the trial period is over, I get a letter saying "Congratulations, you have been approved for the Home Affordable Modification Program with terms that make my payment $22.00 more than my original mortgage payment. Talk about trying to STICK IT to someone. Of course I immediately called them up to be told - "Well, your interest rate went from 7.25 % to 7.0 %, but your capitalized amount has increased your original loan amount by $7, 000, so your mortgage payment will increase". WTH? I have NEVER been late on my mortgage payments. I did play it close, but my mortgage was ALWAYS paid and credited by the 15th of the month. So because WF gave me a $254 break for three months, they are going to increase my loan amount by $7, 000? WTH? You better believe I'm sending the new loan modification docs back to Wells Fargo UNSIGNED... They can take those docs and shove them where the sun doesn't shine. Do they think I would actually agree to something like that. I couldn't afford the original mortgage you IDIOTS.. I really wish "Big Brother" would monitor and do something about these CROOKS.. This is HIGHWAY ROBBERY..

I monitor this board frequently, so if anyone knows how we can report this ABUSE... please post it because something needs to be done..

Holy CRAP! I too am involved in this bogus "process" For over a YEAR! Did the "forbearance" but was told not to make the end balloon payment. So I didnt and credit plummetted. Over 5 OTHER credit card companies closed my accounts. Fast forward a couple months of non payment (i'm not paying them chit until they either come get my house or fix my loan) they put me on HAMP. cut my payment ZERO dollars! Awesome, right? THey did incorporate my impound account as I had none on original loan, which essentially "saved" me money. WHat they fail to understand is that my annual income tax return is how i paid my prop taxes so it saved me NOTHING! I made the 3 payments under the HAMP plan on time. Then nothing. No phone calls, letters, smoke signals, ESP...NOTHING from WF for three months. NOT EVEN A BILL! Suddenly, I get a letter that says they have been unable to reach me by phone. HAHAHAHAH! Incredible. So I call them and what do they want? MORE "documents" but they did not specify what docs. And they did not request payment. But they DID report me 180 days late to the credit bureaus.

I just cannot understand how there are fo few places to make them force their hand. I REFUSE to pay them unitl they do something for me in the positive. THey have already ruined my credit. I have very little debt and make pretty good money. Im in my mid 30's and find myself having to re-start financially with a wife who is a stay-at-hom (God bless her) and two small kids. I have been in Limbo for over a year and I have no end in sight. Who can I turn to? What can Ido? Obama gave these ### lots of our tax dollars but holds no one accountable WTF? One Big ### Mistake America!

I got a call today from Citibank saying BOTH my credit cards have been closed because of deliquintcies on my credit report. I ordered a copy of my credit report and found out WF reduced my payment by $1000 per month during the "Trial Period" for the past 6 months, but reported my account PAST DUE for the six months I've been under the trail period. I have NEVER been late with a payment to ANY creditor, but now my credit is RUINED!

WOW, I am in the same boat as most of you... WF is screwing us. First they approve us for the trial period, we make three payments, then they forgot we were approved and are trying to get us to start over.

If anyone has real good fax numbers to match the bozos at WF please let me know.

Thanks,

G

Boy have I got a good one for you guys... attempted to start the loan modification process with Wells Fargo in July of 2008, prior to even missing a payment. I myself was a mortgage broker, (who ironically sent quite a bit of business to Wells Fargo! Yikes!) earning a decent income and when the economy turned my income pretty much went away. Long story short... Wells Fargo told me that in order to be considered for a modification I would have to miss 4 payments... basically be in foreclosure. After missing my 4 payments I was forced to file bankruptcy in November 2008, which protected my properties until it was discharged in Feb. 2009. After the discharge I began the loan modification process again. The same complaint as everyone else... ENDLESS amounts of paperwork faxed, ENDLESS phone calls, (sometimes on a weekly basis) ENDLESS excuses by the representatives stating that my file was being reviewed, etc. Was even given a trial modification in October 2009, only to have them send the first payment that they took over the phone back stating that they made a mistake and the mail approval that I got was auto generated. They also told me that this wasn't the first time that had happened and that the representative that took my payment would be spoken to and provided more training... huh? Somehow maybe that was supposed to make me feel better about their mistake! Let me remind you that my home was in foreclosure this whole time... Wells Fargo told me that they would keep pushing out any pending sale date on the property as long as my file was being reviewed. Fast forward to a couple of weeks ago... a negotiator named "Rodney" called (one time) and left a message. I returned his call in a very reasonable amount of time and was told by the representative that he had called to go over a 6 month trial modification program and she emailed Rodney to let him know that I had questions and that I had returned his call. 3 more calls and emails to Rodney later, no return call from Rodney. So I called again on December 3rd and this time the representative informed me that it stated in my notes, (by Rodney) that I was denied the modification due to being "unreachable" and that I had never sent in current paperwork that was requested! Like I wouldn't do that after almost a year and a half of trying to save this home! Then the kicker... "by the way, it says here that your home was foreclosed/sold yesterday". Yep, the rug pulled right out from under me! Usually the representatives let me know if there was a pending sale date, since it obviously shows in their system cause all along they have let me know that... not this time! Now I'm in the fight of my life, trying to figure out what's next.

The worst part of all is that the home that I'm trying to save has been my mother's home for over 20 years. I bought the home as a favor to her after she went through a divorce in 2006. My mother is an amputee that spends most of her time in a wheelchair. At the time I purchased the home I was financially stable and living on the west coast... of course shortly after is when things with the economy went south. I actually gave up my own property and moved back here to try to help my mom out. Now we've been served eviction papers stating that we need to be out in 30 days... it's winter time in New England by the way, and my mother has 20 years worth of stuff throughout this house... no way we could be out in 30 days! LOL! The home has also been for sale all this time and wouldn't you know that we got an offer, a CASH offer... of course right after the foreclosure sale. Wells Fargo knows all of this too... about my mom, the condition of the property, the offer that came in, EVERYTHING! I'm waiting for someone to jump out and yell, "surprise, you're on Candid Camera!"

Now I'm onto the next adventure of trying to have them rescind the foreclosure! Give me a break! I have a feeling I'll be giving myself a nice big hug in a straight jacket soon!

I wish all of you dealing with this dysfunctional financial institution LUCK!

WELLS FARGO SUCKS!

I will update soon... I'm talking to attorneys, media, state reps, etc. I'm on a decent track right now... I've been printing off all the complaints too, so that people can see that there are way tooooo many people in this awful boat. Someone on here said strength in numbers and at the end of the day that's what will work. Once I know what can be done, you'll all be the first to know! See what we can do! Keep all your fingers crossed!

after 10 months working with WF I give up.. they won our house is 300k upside down and they still will rather put us out on the street than work a modification... No one at this place cares..

Well, that's just great. Wish I would have looked here back in August when this ### all started. I've been getting the runaround ever since. I just reamed the person on the phone a new one, and I hope it was recorded as they say it is, but I'm sure nobody ever listens to the bad ones. First my husband leaves me for a bimbo 15 years younger, then he buys a new house and we have 2 mortgages now. My life is just great.