Wells Fargo review: loan modification hell 27

I just filed my complaint with the FTC and as I look around on the internet there are thousands of people in the same boat! If anyone knows of a class action suit I want in on it! Please feel free to cantact me at my office!

If anyone knows how to fight back against ASC please let me know!

Gary Elmer
[protected]

I just read this and many other blogs and agree completely. I will be calling 8am Mon morning, and will post this number on my facebook acct. Thanks, and keep me up, I too would like to join a suit. Wells Fargo is either the dumbest group, or the most evil!

Arthur Lee
leedart@gmail.com..

The following people have offered LIFE-SAVING, LAST-MINUTE assistance to many hurting homeowners! Good Luck and You are In My Prayers!

Cara K. Heiden, CEO Co-President, National Consumer Lending and Institutional Lending, cara.k.heiden@wellsfargo.com
Michael J. Heid, Co-President, Capital Markets, Finance, and Administration, michael.j.heid@wellsfargo.com
Jerald Banwart SVP, Servicing Operations, jerald.banwart@wellsfargo.com
Mary Coffin, Vice President mary.coffin@wellsfargo.com
Sharon Cecil, Asst to Both sharon.cecil@wellsfargo.com
Debra.Walsh@wellsfargo.com
rick.kelphart2@wellsfargo.com
Todd M. Boothroyd, Counsel Todd.M.Boothroyd@wellsfargo.com
WELLS FARGO HOME MORTGAGE Executive Communications
MAC X2302-02J 800 S Jordan Creek Pkwy
West Des Moines, IA 50266
[protected]
[protected]

Go to my website when you have time:

www.wfhmcaught.blogspot.com

JR GTRAYSONAnd if either of you, Gary Elmer or leedart would like your own personal megaphone, I am a voice I make sure these criminals hear every day, in every possible way on behalf of everyone who asks for it. PUSHING HARD, DAILY, ALL DAY, BECOMIING THE SQUEAKY WHEEL IS THE SOUND TO WHICH THESE PEOPLE RESPOND.

Remember LOTS of people need help. PUSH, PUSH, PUSH.

Right now, I'm holding off on my very aggressive plan to visit the Executive Communications Servicing Office in Des Moines -- I would love victims of ASC/WELLS [censored]O to join me. If the people above STOP helping, we're going.

Share your stories -- everyone needs to hear what has happened to you!

Kelly L. Hansen
33605 W. 88th Street
DeSoto, KS 6018
[protected] Phone
[protected] Fax
ctsmyhon@yahoo.com
www.wfhmcaught.blogspot.com

I am in the same boat...I have been trying to get an approval on a loan modification but Wells is saying that I only qualify for a relief plan where I will not have to make monthly payments until August 09. On that date I have to pay ALL the pending monthly payments plus late fees and interest. I called to say that this was not a solution to my hardship and was told that indeed it wasn't but it would give me time to put my house out on sale. I have been paying this house for the past 14 years on a timely manner until this year that I began getting behind because of the financial hardship and Wells tells me that I do not qualify for anything else.
Please let me know if there is something else I can do.
Thanks.

I am also trying to get a loan modifcation and still no respond I have been turn down a numbers fo times. Is there any help for me with asc?

I have a compnay that recently got me a full reduction down to what my home is worth in today's market. They didn't charge me anything up front and their process was guaranteed to me. I had a sale date within 1 week of contacting them and they stopped all of it. i owed $770, 000 roughly but my home was only worth $340, 000 within 2 months I received documentation from my lender showing my reduced loan amount with a 4.5% over 40 years. They saved my home and my life to a certain extent. I had my fair shae of denials over and over again with Loan Modifications directly with my lenders. Serenity Global sued my lender on my behalf based on, DRE violations so the lender had no other choice than to comply. If you have any questions please feel free to call them directly at [protected] they can help anyone and they never pressured me for money like so many other companies out there! If you have any questions for me you can e-mail me directly at ware230@yahoo.com

I have been going through the same thing with Wells Fargo since March and my mortgage is behind 3 months and they sent me a letter from their attorney demanding that I pay the three months within 10 days. I have sent Wells Fargo my documentation for the loan modification and they keep saying that they have not received them. If they did the loan modification within a timely manner I would have paid the mortgage on time. My job down sized and I had to take a pay reduction or not have a job at all.

I've been trying to have my loan modified also through ASC/Wells Fargo since October 2008. I was told in April that I qualifed for the Hope for Homeowners Program. Last month when I called I was told it was still in review waiting for Congress. 3 weeks ago I was told it was now being review for their HSC program, but they don't know what that stands for. They just keep postponing my sale date. I'm just afraid that one day I will call for a status and will be told, there is nothing they can do. My financial situation changed 3 years ago when I was given 3 of my grandchildren to raise and then the following year my mortgage payment increased by $500. My mortgage is $253, 900, my home was just appraised for $53, 000. Any suggestions for me so that me and my grandchildren won't loose our home.

I have just gotten behind in payments have to come up with 2, 400 by aug.18th . I called and spoke with an assigned representative and went through my financial situation breifly with him and wants me to do a modification. Now what I've been reading about is starting to soak in and sensing that I am in bullseye sight. because I owe only $115, 000 on mortgage and was recently appraised at $193, 000. I am having difficulty going to other banks due to job status and credit rating declining. After 31 years of excellent credit and the hardship now. theres no leinency or what i say is lack of respect for all of the hardworking folks who now are having hardships. I have a freind who still has dreams about the nightmare he had with W.F he was givin a deadline to pay up his delinquint amount. He managed to come up with it all but time was an issue . Between his 401 k, and financial investments he was well on his way to workin out a decent retirement. Well withdrawing and early penaltys etc. took the wind out of that sail. so anyhow at least his homestead was goig to be secure. So he thought... He went in by appt. the day of deadline to pay the said amount.. certified check in hand.. This freind of mine owned a 400, 000 home, 179, 000 remaining balance on the mortgage. $ 26, 317.28 was the amount to pay up to be in good standing. all he had to do was get the check to proper dept or person to get his papers signed off of the delinquincy. when he asked where to goat the receptionists desk they were expecting him in meeting room 42 on the 5th floor. He was sent to the custodial office! You decide if you think he ever got that check processed that afternoon.? Heres a hint... Best freinds can be very reliable and good renters...

Do you know that ASC is a fictitous company? Wells Frago Bank is behind everything malicious, check it out on The Squeaky Wheel.com, for more information on what I'm talking about.

You know, it totally amazes me that Wells Fargo would hire an alcoholic, (that is a person that drives her children around drunk and drinks heavily on a daily basis) and a person that sleeps with married men, breaking up marriages (even with her own company). What kind of company would hire such a person to be the Vice President of their morgage company.
Maybe this is part of their problem, they have no scruples.

Jill Ann Hunt of the West Des Moines Mortgage Company is an alcoholic, adultrist, and this company condones people like her.

Wells Fargo is a joke. They send us letter after letter telling us how they can help us if we are unable to make our payments and after talking to their Loss Mitigation Dept they said we "pre-qualifed" for a loan modification based on the information provided. Well after we submitted our paperwork they told us we supposedly had a$2700 surplus which is insane because if we did we wouldn't be needing a loan modication. Well it turns out they never inputed out second mortgage loan which is also with WF so we got denied for their stupidity. We resubmitted our docs again and this time I emailed all the individuals above explaining how frustrated I am with them and someone by the name of Audra Hutton from the "executive" office of the president at WF calls to tell me she would be handling our file personally. Well it's official. I spoke to Audra Hutton today and was denied AGAIN! Reason? Debt to income ratio. Here's how WF works...when they go to qualify you for a loan they base it on your GROSS income which is not out of the norm for banks BUT here's the catch they also take into account each and every debt listed in your credit report. Well when we went to apply for the loan modification they told me they looked at the GROSS but they don't take into account the credit card bills, the utility bills, the car payments and that they ONLY look at the mortgage payment itself on the property so if you look at it this way NO ONE qualifies for a loan mod because if they are only taking into account the mortgage payment and no other debts then everyone will show affordability which gives them a reason to deny everyone. Which is why there are less than a handful of successful loan modication stories for WF. These people are such a joke! How is that fair and how are they able to justify that? Basically there is not investor's guideline because our file never made it before any investor. It is WF who made the call to flat out deny us because they manipulate the guidelines so they can deny people but not without providing false hope and offers to help with no intention of ever delivering on them. With all the complaints I find all over the web about this bank it is hard to think there isn't already a class action against these crooks and how are they still able to stay in business...right the Obama money that was supposed to have gone to help homeowners like us stay in the our homes but instead it is really going into the pockets of theWF "executives"!

If anything I have been as proactive as I possibly can be to provide appropriate documentation to Wells Fargo, but to no end, it does not seem to be enough. I was sent the packet from WF advising me I have been accepted for the program. I had felt such a relief knowing there was help and they were willing to work with me. I made my first payment and sent it in the overnight package. I also provided the documentation requested such as copies of my pay stubs, tax returns, their forms they wanted to be completed etc. I was a little troubled only because my first payment was due on 7/9 and the next payment was due on 8/1/09. However, I was going to try and make it work anyway I could. About a week later I received the same packet from Wells Fargo requesting the same exact information! However, this time my payment amount was less and the payment due date was on 8/14/09. I called Wells Fargo to see if I could get an explanation. Specifically, could I talk with the person handling my case? I was advised by the person who took my call I could not speak with someone directly and I should fill out and provide the requested documentation again. I asked about the payment amount and due date. I was advised the amount due was the amount stated in the most recent paperwork sent and the payment was due by 8/14. I sent the overnight package off again on 8/7. I was a little more concerned this time because my first payment was due on 8/14 and the next was due on 9/1. After I sent the package I started getting phone calls about when I was going to make my 9/1 payment. I explained I just made a payment and I wouldn't even receive another paycheck until 9/2. The man who I spoke with advised I had a 15 day grace period for the second payment, but the last payment would need to be there on 10/1. He stated to call in my payment to ensure they receive the payments by the due dates. I called yesterday to make my payment and was advised they could not take it over the phone. She gave me an address to mail the payment. While I was on hold and she was looking up the address to mail the payment into, I found the postage paid envelopes provided to me with my loan modification paperwork. The address the person gave me to mail my payment into was completely different than the address on the postage paid envelopes. She assured me the address she had to send the payment was accurate. I stated I wanted to make sure my payment was there in a timely manner and did not feel comfortable sending a payment off to a different address. She stated I f I disagreed I could speak with a lead. I opted to speak with the lead. The lead was little, to no help. At first she told me I had been disqualified from the program because my payment wasn’t posted until 8/17. I stated I had sent the payment on 8/7 overnight. She then stated Wells Fargo received it on 8/12, but it did not post until 8/17. She stated I needed to allow time for them to process. I explained I didn’t understand why I should be penalized for their processing time. She asked me to hold and she would send an email to the directors. I sat on hold for a moment. She came back on the line and stated she had sent the email and it would take 24-48 hours for them to respond. I stated I would really like to make my payment for September. She stated she could not take my payment because I had been “kicked out” of the program. I had received a letter dated September 1, 2009 from Wells Fargo explaining they are reviewing my case and I should have an answer in writing in the next 45-60 days. I asked if I was kicked out, why then would I receive a letter saying they are still reviewing my case. She then stated because my 9/1 payment wasn’t there on or before 9/1. I explained I was advised there was a grace period, but important the final payment was there by 10/1. She stated this information was not correct. She stated the payment was due by 9/1 and my case was closed on 9/8. Therefore, that is the reason I was “kicked out” of the program. I pleaded with her to please take my payment. She stated there was nothing she could do for me and that my case had been turned over to another department. Just like that? Yes, just like that. I was in tears. What do I do? Where do I go? Calling them does not seem to help and EVERYTIME I call I get a different answer to a question. I have no direct point of contact and the customer service representatives do not appear to be qualified to give answers/advise regarding payments on home loans. This is my home we are talking about! I’m not another piece of paper with a money amount attached to it. I want nothing more than to resolve this. Please let me know if you have any suggestions.

PLEASE EVERYONE, EITHER E-MAIL ME AT

KELLY L. HANSEN
CTSMYHON@YAHOO.COM

OR GO TO MY WEBSITE FOR VICTIMS OF WELLS FARGO AND LEAVE YOU INFORMATION THERE:

HTTP://WFHMCAUGHT/BLOGSPOT.COM/

WELLS FARGO IS UNDER SCRUTINY FOR NOT USING BAILOUT FUNDS AS DIRECTED.

SO:

SEND ME YOUR INFORMATION --- I AM PUTTING EACH FAMILIES INFORMATION TOGETHER AS I'VE BEEN ASKED TO DO IN PREPARATION FOR A CLASS ACTION LAW SUIT. SEVERAL GOVERNMENT ENTITIES ARE INTERESTED IN PURSUING SEVERAL SUITS IF THINGS DON'T TURN AROUND QUICKLY.

You will each be sent more information and you will have an opportunity to opt in, or opt out, of the class action at that time.

Feel free to e-mail me should you have any questions. Thank you.

Kelly L. Hansen
ctsmyhon@yahoo.com

Dick Kovacevich [protected]
kovacedm@wellsfargo.com

John Stumpf [protected]
john.g.stumpf@wellsfargo.com

Mark Oman [protected]
mark.oman@wellsfargo.com

Cara Heiden [protected]
cara.heiden@wellsfargo.com

SPREAD THIS ALL OVER THE NET! THESE ### ARE CROOKS AND SHOULD BE IMPRISONED!

I think it is ridiculous that all of you are so upset that you took out a loan, you signed for it and agreed to pay a certain amount (look at the amortization schedule they gave you, it list every single payment you have to make) and now you are having trouble paying or your home depreciated in value and you automatically think that the bank should have to pay for the terrible things that have happened. The banks try to help. I am a Loan Adjuster at a bank and we have to deny people left and right, however we also have our managers demanding more approvals. The problem is that most of the time, your unpaid principal balance has to be increased and there are certain restrictions that each loan has, whether place by the bank or the investor of your loan. As far as the gross pay, this is used to figure if your payment is unreasonable based on what you make. There have been TONS of studies that have determined that a person can afford to have their mortgage payment to be 38% of their gross income. If your payment is only 28% of your gross income, than your mortgage is not the problem, your other expenses are. Look it up, even the government states that you should have no problem paying 38% of your gross pay as your mortgage payment. And all that bailout money, you think isn't being used, it is rarely used to help those that want to keep their home. But what about those that are trying to sell, and the bank does a short sale, where someone buys the home for say $115, 000 when the unpaid principal balance on the mortgage is 204, 000. Is that not good enough for you that the bank uses the money for liquidation instead of retention? And as far as things not correct, yes we all make mistakes. Right now the banks are PACKED full of loans, some banks have over 300, 000 loans asking for a modification and only 800 people to work all of these loans. It takes time to review loans, the faster they are reviewed, the more errors that occur. And as far as resending your documents on a monthly baises that would be awesome to have borrowers due, that way when your loan is being reviewed, everything is up to date, there are specific guidelines stating how old certain documents can get before they can't be used, if they are out dated it will take more time to review your loan. financial information changes frequently for many borrowers, this helps to ensure the most accurate decision possible. Do you not want an accurate decision on help that the bank doesn't have to give you because you signed a paper saying you would pay a certain amount and now you cant? You all just want the bank to give give give, but you aren't willing to give any. These are tough times, we all have to help each other out and push through.

Banks are a business, they can loose money just like any other business. If loans have been given that are backed up by the government that did not comply with standards of fair trade, and full disclosure as to their "back door" get paid first attitudes, then there is fraud involved. And you as a insider had full knowledge of this lack of ethics, and law bending should also be held to the law like a police officer, that gets the book thrown at them for breaking the law! You individually, are just as guilty of greed also.
As for your lack of ability to see that we are by common means, not poll numbers, in a deeper hole than a "simple" recession, and that the working class of this country in at least two generations have not seen it this bad, just reaffirms that you are the mindset that has gotten us in this position. Totally oblivious to the lack of function of most of the economy as to it's connection to the average worker and his/ her wages. You viewpoint of the capitalistic system is without even any environmental factors of system failure! It's all on the person that took the loan! That's bull...

Chris, Wells Fargo is dicking us around. I found out Friday the used BOGUS, INVENTED, data for my expsenses to pad my "deficit" so they can reject me. they invented CAR PAYMENTS and DEPENDENTS and STUDENT LOANS I DO NOT HAVE and used ARBITRARY numbers for my grocery, utilites, etc. SHAM SHAM SHAMEFUL SHAM.

It was the last straw, they will get a lawsuit from me.

There is a second blog on this site with the same issues, Wells Fargo home loan modifiction issues. We should combine forces. I have been copying my blog to the media here in Phoenix as well as the corporation office for Wells Fargo.
Attorney general complaints filede with your states attorney general have been very helpful here in Arizona. Lollypup Linda D
Also here is the latest source of "Help" for freddie mac borrowers:
Freddie Mac Starts Door-to-Door Effort Helping Borrowers Complete Home Affordable Modifications
Titanium Solutions, Inc. to Help Borrowers Complete Modification Applications
For Immediate Release
September 29, 2009
Contact: corprel@freddiemac.com
or [protected]

McLean, VA – Freddie Mac (NYSE:FRE) today announced it has hired Titanium Solutions, Inc. to meet with delinquent borrowers at their homes and help them supply missing information, documents and complete other actions needed to begin their three month trial payment periods for Home Affordable Modifications under President Obama’s Making Home Affordable program.

Titanium Solutions will target late-paying borrowers with Freddie Mac-owned mortgages who have not returned letters or phone calls sent by their servicers, or who need to provide additional information or documents to launch their three-month Home Affordable Modification trial periods. Titanium will also help those borrowers who have started their Trial periods complete the documentation process to enable them to be converted into final modifications.

“By meeting with our borrowers, one on one, in their homes Titanium Solutions can help them overcome the roadblocks keeping them from starting their Home Affordable Modification trial periods, ”said Ingrid Beckles, Senior Vice President Of Default Asset Management at Freddie Mac. “We believe this can give borrowers seeking Home Affordable Modifications the same type of personalized guidance they may have had when they were buying their home or applying for their mortgage.”

“Through this initiative, Freddie Mac again demonstrates their commitment to helping homeowners in need. We are pleased to work with them to improve contact with at risk homeowners who are in jeopardy of losing their homes to foreclosure, as well as increasing the number of homeowners who receive and are approved for a modification, ” said Patrick Carey, Chief Executive Officer at Titanium Solutions, Inc.

I finally got my trial period paperwork and sent it it ! Best of luck and keep on the pressure. Linda D Lollypup

The loan officer above is not living in the real world. Obviously, she still has a job. Those of us that have lost our jobs and cannot find work, lost all their retirement income in the wall street blow out, lost their equity do to rapidly declining home values, and have used up all their savings to stay current on thier mortgage this past year have been paying ande trying in good faith...we did not create this mess and if the government is going to blow my tax money on bailing out big business and in fact, ms loan officer, your employer and your job security, the banks, then it only makes sense that they should offer us the same options, the same doors of opportunity...get real ...we did not put down big bucks, make payments for months and months to loose our homes...I HATE that perception of us borrowers...it is just propoganda from the lenders to accuse us that way !

Hang in there people - they do help - after 8 months to the date I have gotten a positive outcome. They are starting to pick up the pace. I had a bad attitude about them, but I don't anymore. I hope they help more people though.

I have started my loan modification in November of 2009. It is June 14th today. I was removed from the program 3 times already. (1) They have approved me for the trial period and then cancelled it with no reason. I have started hte process over again and has been denied because I was current in my payments. The explanation was: if you were current, you were not in hardship, so no modification is possible for you. I have started over again. After 2 months a negotiator was almost assigned to my case. I kept calling to WF every week to make sure the modification is progressing, the paperwork is up to date. I had hoped to finally receive a loan modification offer, but have received a denial letter instead. The reason for my removal from the program was: I have not supplied a requested document. While checking with them I have found out that they expected an afidovit from me but never told me that it was the only step away from completion of my modification. It was missing but they have never told me about it. Now I have to start the process over again for the 4th time. WF`s Loss and Mitigation Dept. is refusing to to accept this missing piece of paper and reinstate my account. They recommended me to start the whole process again. Is it some kind of game? Are they get paid per number of denied cases? I do not understand why they would better initiate foreclosure rather than accept the fact that they screwed the whole process up, reinstate the account and complete loan modification?

They will never admit an error even when it is blatant. File a complaint with your state Attorney Generals office...they will get to the bottom of it...take care and I feel your pain. Lollypup !

Thank you very much. I just did. Will see if they can really help. Meantime I am afraid to loose my house as i am 3 months behind. I can not afford current payments, $2, 442 monthly. Am not sure if reduced contributions would help to save the situation as according to their Collection Dept. I must to bring my account current to avoid a posibillity of foreclosure. I desperately hoped for the loan modification to finally happen, but have to start the process over again.

Get the press involved also, I email our local TV stations constantly in hopes someone will pay attention. They bail everyone else out in this country but homeowners...it is a crying shame. !

Its frustrating to think we just live in a world of corruption and no one gives a @#$%.
I am trying to get SOMEONES attention with this and seeing 100's of complaints for the past year, doesnt seem to be going anywhere. My brother began the process over 8 months ago.
Here was our letter:
Subject: Mortgage Re-finance Scam?

I was wondering is there some kind of a refinance mortgage scam going on?
Is there some type of federal incentive that requires banks like Wells Fargo to help homeowners with Re-finance in lieu of foreclosure?

The reason I ask is that my brother whose home mortgage is through Wells Fargo seems to have this problem happening where after losing his job and taking a minimum wage job could not make his full payments of around $700 per month.
He accepted the fact foreclosure was inevitable and advised the bank he simply could not make the payments.

Wells Fargo said he qualified for a refinance or loan modification program and after 3 months and a lot of paper work his new mortgage reduced his payments significantly thus allowing him to keep his home.
They guaranteed this was permanent and fixed following a 3 month trial period. 6 months later it stopped. When asking what happened they told him someone that processed the paper work failed to file “something” or it became lost. He had to start the process once again.
4 months ago and another 45 day process with lots of paper work he was granted a new mortgage, 30 yr (was originally 22yr) and lower payments that would go up 2% in 5 yrs, then 2% more in 10 yrs for the life of the loan. Then they told him the last two documents to sign would make this final.
He asked “are you sure this is complete this time?” and they assured him this was fixed, guaranteed and he was set for the 30yr loan. No further action was required.

They auto debited the first reduced payment. The following month no payment was debited from his account. When he called, Wells Fargo told him he was dropped. When he asked why, they said he failed to sign one more document. He asked why they didn’t advise him of that as how would he possibly know a document was missed.
Wells Fargo simply stated it was too late and there was nothing he could do. So back to possibly being foreclosed.

Twice his refinance option was mishandled by Wells Fargo, and he was charged fees for this and then they dropped his new mortgage reverting back to the original mortgage.
I was told by a real estate agent in Arizona he was hearing many complaints about this happening to other people. I also checked on line to find 100’s experiencing the same thing with Wells Fargo.

What I don’t understand is why and what the bank would have to gain by what appears to be intentional mishandling of the process so that they may revoke it shortly thereafter.

Is something underhanded going on with the banks (or Wells Fargo)?

(In case your wondering, my brother up to now has held excellent credit history and in BOTH cases authorized auto debit for his mortgage payment so was never late with any revised payments.)

Concerned Consumer

it is the art of wearing your oppenate out rtrition, they want money and will do and say anything to get some, no matter what their attorneys agenda is, so many horror stories about the trials where the attorney files foreclosure any ways and sales proceded while trial period is going forward and or they take your money with high hopes and lis penden you any ways, they are snakes. and their attorneys too watch the inflation rate of your moneys due they will inflat amount owed and stick it in your credit report. also they will not show all the payments you made on time or in the trial on your report.
I went through 6 trials and the 7th stuck, no reduction in principle and a arm after 8 year, just a bandaid, Then citiizens home owners insurance dropped me, street and local taxes went up, my attorney looked at the crap loan mod and said BK 7 surrender,
you can rent for what it will cost you to keep this under water inflated depreciated peiece of realestate