Wells Fargo review: loss mitigation department 87

how is it that they are going to help you pay back on whats behind if you have no income... till you get a job then they can help you...

My real estate agent has been trying to contact people (they keep changing) in the loss mitigation department. I would like to buy a condo but it will be a short sale. The owner has moved to Canada. Wells fargo continues to change who is working on this case and will not give out telephone or fax numbers. there is no way to communicate with them. I would never want a loan or any bussiness involvement with them.

I have been trying for almost 2 weeks to get a person or the person on the phone that did our loan midification(dummy person), Wells Fargo C/S reps they have tried to bully me into signing the loan mod, and evidently, there are no supervisors that work at this company and employees do whatever they want or don't want to do. Now don't get me wrong, I am greatful for them even working with me, but they took my note up 366.00, may not be a lot for them but for me, thats the cost of my monthly medications. I would like to discuss lowering the interest rate to bring the note down. We're negotiating right, or are we? The attitude of Wells fargo is "be thankful and take what u got, but why, lets negotiate to something I can afford. Well, no one will return any of my phone calls or faxes, maybe I will re-write the agreement that better fits my income and return it and ask for their signature...

Wells Fargo loss mitigation is just a scam where the use bait and switch tactics to try to get you to pay believing you will get a loan modification, when in fact all they are REALLY doing is collecting payments while the foreclosure moves ahead.

They are a pain in the rump, but they are (loss mitigation dept) is getting over 3200 requests a week to deal with. Since this is a cost department I'm sure Well Fargo has avoided adding people to hold down on cost. So this people have this huge workload with no incentive to hurry up and everybody they talk to pissed at them, so human nature says why care when you are overworked and underpaid.

We lost our home due to my illness. We sent letters to Wells Fargo we even tried to send a letter and tried to even contact the CEO himself. With no other option and them draining me emotionally. We had no other choice but to give the house back...I wish they would have helped us but having a forebearnce and not having to pay for several months and than trying to come up with all the behind payments was impossible..I regret them taking over our loan and would never suggest them as a mortgage provider. Their not willing to help those of us that are unable to work and live off of one income.. To all of you who are losing your home I wish you the best and know you are not the only ones. There are thousands of people just like us that are in the same boat!

IN THE SAME BOAT WITH WFHM. TRYING TO GET MORTAGE CORRECTED BUT NOT ONE WILL EVEN LOOK AT DOING THAT. JUST KEEP SENDING ME ON AN EMOTIONAL ROLLER COASTER. NOW I HAVE CONTACTED THE ATTORNEY GENERAL IN TEXAS AND TEXAS FINANCIAL COMPLAINT ORGANIZATION. SENDING IN MONEY, THEY CANCEL THE PAYMENT PLAN EVEN IF THEY RECEIVE THE MONEY. I DID NOT ASK THEM TO BECOME MY MORTGAGE SERVICER OR WILL I EVER SUGGEST THEM AS A PROVIDER FOR ANYONE.

I HAVE CALLED INTO CSR AND WAS TRANSFERRED TO 6-8 DIFFERENT PEOPLE IN ONE NIGHT. I HOPE THAT ALL CUSTOMERS RALLY UP AND TAKE THEM OUT. THEY ARE A BIG COMPANY B UT THE BIGGER THEY ARE THE HARDER THEY FALL!

Talking to Wells Fargo Loss Mitigation is IN ONE EAR and OUT THE OTHER...
Complete ignorant idiots! Watch the email chain back and forth...

----Original Message-----
From: Garry.Mobley@wellsfargo.com [mailto:Garry.Mobley@wellsfargo.com]
Sent: Tuesday, September 30, 2008 8:44 AM
To: medal@allegiancerealty.com
Subject: RE: Review of Appraisal of XXX

I looked at the notes on page 2 and they refer tio the comps. If getting a new appraisal is not an option if you can provide me with some comps that are more in line with the appraisal I will have them take a look at ithem. The comps have to be from the time the appraisal was done and ni more than 1 mile from the property.

-----Original Message-----
From: Peter Medal [mailto:medal@allegiancerealty.com]
Sent: Monday, September 29, 2008 7:25 PM
To: Mobley, Garry
Cc: 'Julian Tatka'
Subject: RE: Review of Appraisal of XXX

Garry:
The notes the appraiser made are not consistent with the comps that were chosen for the appraisal.

The owner, XXX is dying of Cystic Fibrosis, he is in and out of the hospital. All of their funds are depleted. They barely can keep gas in the car and food in the house. The biggest concern XXX has, is what the impact will be concerning the short payoff.
I doubt very seriously they would be willing to pay for a subsequent appraisal.

I will check with the Buyers Agent to see if they would be willing to pay for the appraisal.
I am of the belief that Wells will NOT be giving the owner a 1099 on the first or second as a result of the Mortgage Forgiveness Debt Relief Act of 2007. The first was for acquisition indebtedness and the second, although a HELOC was used for home improvement. Cheryl will not be able to afford the tax bill on the 1099 and at this point are willing to face foreclosure if a
1099 on both loans will be mandated. Can you let me know what the investors stance is, concerning the short pay on the sale in play or any other possible short pay off request?

Peter

-----Original Message-----
From: Garry.Mobley@wellsfargo.com [mailto:Garry.Mobley@wellsfargo.com]
Sent: Monday, September 29, 2008 4:01 PM
To: medal@allegiancerealty.com
Subject: RE: Review of Appraisal of XXX

I see your point but the investor is looking at the the notes the appraiser made in the appraisal giving compensation for the differences.
So if we are to overturn what we have we need to either counter or get the new appraisal.
Do you think the sellers would be willing to pay for it?

-----Original Message-----
From: Peter Medal [mailto:medal@allegiancerealty.com]
Sent: Monday, September 29, 2008 5:13 PM
To: Mobley, Garry
Subject: RE: Review of Appraisal of XXX

Garry:

Has any of the below email chain been provided to the investor?
Do you agree or disagree with my analysis of the appraisal?
The existing appraisal did NOT follow the scope it clearly said it was intending to use:
"LENDER OWNED PROPERTIES WERE USED IN THIS APPRAISAL, THEY ARE DRIVING THE MARKET AT THIS TIME".
You have an appraisal based on homes that have a ONE YEAR market timing and pricing.
If the investor insists on wanting to stick with this appraisal, mitigating the loss with a short payoff is sure to fail.
Realize that if this home is foreclosed upon, your foreclosure department will obtain BPO's to determine 30-day pricing for the asset which in my analysis suggests, is realistically around $250, 000.

The home is listed at $325k.
The listing is coming up on a YEAR of being on the market.
We have had very little activity at the current price.
We advised the client to lower the price to $300k.

A new appraisal USING LENDER OWNED PROPERTIES, that are DRIVING THE MARKET AT THIS TIME should be used to mitigate further loss to the investor. I am not willing to pay for an appraisal. I am the listing broker. Tough situation.

Peter Medal
Listing Broker
Allegiance Realty

-----Original Message-----
From: Garry.Mobley@wellsfargo.com [mailto:Garry.Mobley@wellsfargo.com]
Sent: Monday, September 29, 2008 1:20 PM
To: medal@allegiancerealty.com
Subject: RE: Review of Appraisal of XXX
Ok if we are to order a new appraisal are you willing to pay for it? The investor is wanting to stick with this one and will not pay for another.

-----Original Message-----
From: Peter Medal [mailto:medal@allegiancerealty.com]
Sent: Monday, September 29, 2008 3:49 PM
To: Mobley, Garry
Subject: RE: Review of Appraisal of XXX

Gary:

1 acre land parcels in the area are selling for $100, 000 ($150, 000 for
1.5
acres)
Giving $28000 for 1.5 in additional acres is a joke. The adjustment should be more like $75000 to $100, 000.

Giving $35/sf for less/more square feet is also a joke. Comp #3 has
2417 square feet, the subject has 1985 square feet. At $35/sf the appraiser is saying that an extra 432 square feet is only $13, 265 in adjustments...
Should be more like $40, 000.

Lastly... LENDER OWNED PROPERTIES WERE USED IN THIS APPRAISAL, THEY ARE DRIVING THE MARKET AT THIS TIME.
NONE of the comps used were lender owned.
Comp #1 was 335 days on the market and Comp #3 was 458 days on market

A new appraisal should be used, using CURRENT comps and LENDER OWNED should be used, as they are driving the market.

Peter

-----Original Message-----
From: Garry.Mobley@wellsfargo.com [mailto:Garry.Mobley@wellsfargo.com]
Sent: Monday, September 29, 2008 12:27 PM
To: medal@allegiancerealty.com
Subject: RE: Review of Appraisal of XXX

I understand your point. Here is where the appraiser made the adjustments to compensate for the values on page 2 of the appraisal.

THE COMPARABLES USED WERE THE BEST AVAILABLE IN THE SUBJECT'S IMMEDIATE MARKET AREA. ALL SALES WERE GIVEN EQUAL WEIGHT IN THE RECONCILIATION OF THE FINAL ESTIMATED VALUE. GLA ADJUSTMENTS WERE MADE AT $35 PER SQUARE FOOT.
BEDROOMS AND BATHS WERE ADJUSTED AT $5000. GARAGES WERE ADJUSTED AT $4000 PER STALL. FIREPLACES WERE ADJUSTED AT $3000.
SITE ADJUSTMENTS WERE MADE AT
$20, 000 PER ACRE. HORSE SETUP ADJUSTMENTS WERE MADE AT $20, 000. ALL COMPS ARE LOCATED WITHIN THE SUBJECT'S MARKET AREA. LENDER OWNED PROPERTIES WERE USED IN THIS APPRAISAL, THEY ARE DRIVING THE MARKET AT THIS TIME.

-----Original Message-----
From: Peter Medal [mailto:medal@allegiancerealty.com]
Sent: Monday, September 29, 2008 2:43 PM
To: Mobley, Garry
Subject: Review of Appraisal of XXX

Gary:

The appraiser stated that "Lender Owned Properties were used in this appraisal, they are driving the market at this time".
We agree, foreclosures and short sales should be used in the appraisal assessment as they ARE driving the market.
It should be noted that NONE of the homes used in the appraisal were Lender Owned, nor a short sale.

Comp #1 was 335 days on the market and Comp #3 was 458 days on market Would it not be prudent to used comparables that are more in line with a Bank Foreclosure Department Policy and Procedure respective to pricing a home with 30 day market timing? What would the ramifications be of Wells Fargo, taking back a property and holding for 12 to 14 months market time?

Comp #2 closed April 5, 2008. Our market has had a major price reduction just in the past few months. There were many other comparables that could have been used that are "driving the market at this time". In fact, Comp #2 will be outside the 6 month market time in less than a week.

Comp #3 is on 2.5 acres, and the appraiser only adjusted that comp for an extra $28, 000 in value for the additional 1.5 acres. 1 Acre lots in the area are selling for $150, 000.

Lastly, the appraiser only adjusted GLA (gross living area) at $35/square foot.

We are in a declining market. The following four comparables are more in line with the pulse of the market:

1935 E Tamar, 2266sf, built 2007, 173 days on market, $206, 000, closed
6/26 (short sale) $90/sf
39005 N 4th Street, 2180sf, built 2003, 49 days on market, $285, 000, closed
6/30/08 (bank owned) $130/sf
37005 N 4th Street, 1788sf, built 1996, 33 days on market, $295, 000, closed
7/9/08 (regular sale) $165/sf
37640 N 12th Street, 1826sf, built 1996, 421 days on market, $304, 000, closed 5/29/08 (regular sale) $166/sf

The above average to $138/sf x subject 1985sf = $274, 600 Average market
time: 169 days or almost 6 months market time.
It should be noted that the subject property has been on the market at $325, 000 with little to no showings.
30-day pricing would obviously have to be less then the average price calculated above.

When I am hired to list a bank owned foreclosure and do a BPO for list pricing, we are instructed to price based on a 30-day market time.

In summary, the current appraisal:
A) used comps with 335 and 458 days on market
B) comps used were not "lender owned" as report suggested
C) significantly under valued the extra 1.5 acres on comp #3 ($28, 000 price adjustment for 1.5 acres)
D) significantly under valued square footage value at $35/sf (comps are selling for $138/sf)
E) used comps that are almost 6 months old in lieu of more recent available comps that are "driving the market".
On behalf of the borrower, we respectfully request a new appraisal, more consistant with current market conditions.

I have forwarded a copy of the appraisal to the buyers agent, who has ordered a BPO on the property.
Let me know how you would like to proceed?

Best Regards,

Peter Medal
Real Estate Investor & Investment Advisor Allegiance RealtyR Professional Real Estate Consultants & Advisors

602.469.7400 Cell
480.423.7400 Fax
medal@allegiancerealty.com

-----Original Message-----
From: Garry.Mobley@wellsfargo.com [mailto:Garry.Mobley@wellsfargo.com]
Sent: Monday, September 29, 2008 9:10 AM
To: medal@allegiancerealty.com
Subject: RE: XXX

Sure can here you go.

-----Original Message-----
From: Peter Medal [mailto:medal@allegiancerealty.com]
Sent: Monday, September 29, 2008 12:01 PM
To: Mobley, Garry
Subject: RE: XXX

We have been listed at $325k for quite some time. No action.
I am going to run an updated comp analysis and get it to you and the seller.
Can you email a copy of the appraisal?

-----Original Message-----
From: Garry.Mobley@wellsfargo.com [mailto:Garry.Mobley@wellsfargo.com]
Sent: Monday, September 29, 2008 8:32 AM
To: medal@allegiancerealty.com
Subject: RE: XXX

Peter,

I opted not to send this to all for the sake of not getting inundated with with emails from everyone since this is one of a hundred other deals I am working on. I understand and appreciate the data put together by the buyer.
the bottom line is this. the appraisal that was recently completed indicates a Fair Market Value of $335, 000.00 hence the investor is insistent on recouping that value or as much of it as possible. If this is not possible they feel confident enough should it go to foreclosure that they will get that out of the property. So the offer of $260, 000.00 is not going to be an option. I am not sure where the comps they provided are located in relation to the property but the one included in the appraisal seem to back up the Fair Market Value of the property.

So let me know what they intend to do, so I will know how to proceed. As for now their counter offer has been rejected.
________________________________

From: Peter Medal [mailto:medal@allegiancerealty.com]
Sent: Monday, September 29, 2008 12:50 AM
To: Mobley, Garry
Subject: RE: XXX

Garry:

Thanks for your follow up.
When I got your original email, I submitted to the seller and buyers agent for review and signature.
The sellers have signed off on your request but I hit some resistance from the buyer/buyer agent.
Attached is the buyers response.

Perhaps we can discuss the file tomorrow?
What is the best time for us to talk?
You can call me on my cell phone, anytime, I will take your call, [protected].

Please note, we have had the property listed and pre-emptively changed the price to $325, 000 with little to no showings from the brokerage community.
We have been pounding ads electronic and paper with little action.

Metro Phoenix has just been pounded recently with foreclosures at an all time high.

Also, the seller is concerned about the tax ramifications concerning the short pay off.
I provided them information concerning the Mortgage Forgiveness Debt Relief Act (see below).
I am understood that their first mortgage was "acquistion indebtedness"
and is covered under the act.
I am understood that their second mortgage, although a HELOC, was used for property improvements, which would be covered under the act.
Can you explain to the borrower, by email "reply to all" what impact, if any, Wells Fargo will be employing concerning the short payoff?

Best Regards,

Peter Medal

I can tell you right now the reason you are having problems with loss mitigation. The loan is most likely in a mortgage backed security. Wells Fargo has a servicing and pooling agreement with the lenders. In order to qualify for a "modification" you can not behind. They tell everyone you need to get behind in the mortgage to get a "modification"
There are 2 problems with this
1)If you are in a mortgage backed security and you don't have a FICO of over 600 you will NOT get a modification. You were able to get the loan with under a 600 FICO, but you will NEVER qualify for a "modification"
2) In the servicing and pooling agreement if you ARE behind the only option is payment of all past balances (forbearance agreement).
They will TELL you pay the first three, on time, and then you will be considered for modification. IT"S A LIE. You will alawys be behind and not have the FICO so they will deny you.

WOW! I have been experiencing so much frustration with Wells Fargo too. I am ready to throw in the towel and move.

I am having the same problem with Wells Fargo. every time I call to find out the status of my modification they tell me something different. I DO NOT trust these people. I think they will play dirty if you let them. I am hiring my own attorney to deal with them from this point on. If I go by what they are telling me, i will wake up soon with the sherriff telling me to get out of my house.

I am very frustrated too, this is latest and greatest. It happend yesterday with me. Last week they put me in 3 months trial period for HAMP loan modification and fixed my monthly payment. I called yesterday to ask when do i get my trial period paper work. They said there was a error in your account. You were put in trial period in error so i have to go all over again and re-apply. I waited 2 months and finally put me for trial period paymentn and now there is error and i have to start over again with new hardship letter and other stuff. I also spoke to two of their manager resulution group but said the same thing. Wells fargo should not be in business and stop giving hard time to customers.

Been in this process for 3 months. Have sent and resent info.they requested certified. I have signatures to prove they received mailings, yet they either got "shredded" or "still are in mail room". They requested more info. on June 30, then dropped me from process on July 2 because of "lack of documentation". I too have hired an attorney. Maybe we all need to contact the Treasury Dept?

I have been fighting with Wells Fargo Liquidations for 7 months trying to do a Dead In Lieu on my house as I was advised by the VA back in Dec. TO date they have 4 times tryeded to do restructure even though it clearly states for Dead in Lieu. I have been given wrong FAX numbers. Put in contact with wrong departments. Told its in restructure again and then call back 72 hours later and told that I had requested it be removed from Liquidations Deed in Lieu the day before. I have been run around like this over and over. Have had to restart the prosses 5 times so far. I have 70$ in current apraised equity and am willing to hand the house over to them yet they seam insistant on forcloser. I tryed to get an attorney and the only ones in Amarillo TX that do this type of law are maxed out. I did find one Class action suit building hopeing to help with it. Wells Fargo managers should rot in jail for what they are doing to people.

Jay Loudenback

I am an employee at wells fargo home mortgage in the loss mitigation dept. first off all ...all of u people are low lives and you should appreciate that we are even ATTEMPTING TO HELP YOU! all u ppl need to get off ur ### and get a damn job and stop complaining. i grew up in the war and u havent seen more horrible things then that and ur complaining about ur stupid mortgage.u signed the damn loan so now either deal with it or move out!
thanx =]

Figures, an employee of Wells Fargo making horrible remarks, shouldn't be surprising though. I have talked to numerous people and everyone is convinced that you are all trained to be rude. (and lie) Your comments just proved that point. Didn't Wells Fargo run to the government asking for help? (and got it!) Most of us do have jobs, our hours have been reduced and we are trying to survive and sometimes that means we have to ask for help. So, you grew up in the war, that was your bad times. It's 2009 and if you watch the news at all, what's happening around the world is the current bad times. You seem very hateful, sounds like you need a hug..

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.

Per a suggestion from this board, I e-mailed the top executives on June 30, 2009 a very detailed letter explaining how frustrated I was with the entire process. I had been getting the run-around since March 2009.

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..

Good luck.

ATTN WELLS FARGO CUSTOMERS:
WELLS FARGO IS IN FACT TAKING EVERY DIME THAT YOU HAVE! THEY WANT YOU TO BE IN THE SURPLUS BEFORE THEY WILL MOD. YOUR LOAN, THE REASON IS SO THAT THEY CAN GET EVERY PENNY EXTRA THAT YOU BRING INTO THE HOME. THEY HAVE NO INTENTIONS WHAT-SO-EVER TO TRY AND GIVE YOU A LOAN MOD. WELLS FARO HAS NOW STATED THAT THEY WHEN YOU ARE ON A REPAYMENT PLAN THAT IF YOU MAKE A PYMNT LARGER THAN THE PLAN AMOUNT THAT IT WILL NOT ROLL OVER AND GO TO THE NEXT PYMNT ON YOU SPECIAL FORBEARANCE MOD. OR MORITORIUM AGGREMENT, THAT IT WILL IN FACT BE PUT IN SUSPENSE, AND YOU MUST MAKE THE FULL PYMNT AMOUNT WHEN THE NEXT MONTHS PYMT IS DUE, SO WHAT HAPPENES TO YOUR MONEY THAT IS SITTING IN SUSPENSE? AND THEY DONT TAKE PARTIAL PYMTS...FOR INSTANCE SOMEONE THAT GETS PAID ON THE FIRST AND FIFTHTEENTH THEY CAN NOT SEND IN TWO DIFFERENT PYMTS TO MAKE IT A WHOLE PYMNT BY THE FIRST OF THE NEXT MONTH. AND WHATS UP WITH BEING COMPLETLY CURRENT AND NEVER HAVE BEEN LATE ONE TIME AND THEY PLACE YOU ON A S/F MOD AND WHILE YOU ARE PAYING THE THREE OR FOUR MONTH TRIAL PERIOD PYMTS THEY REPORT TO THE CREDIT BUREA AS YOU BEING DELINQUINT ON YOUR MTG. THEN THEY SUPPOSEDLY TAKE IT OFF YOUR CREDIT REPORT WHEN YOU ARE PLACED ON THE FINAL MOD. ALL I AM SAYING IS WELLS FARGO IS THE WORST PLACE TO EVER GET A HOME LOAN WITH. I WOULD ADVISE YOU TO SWITCH LENDERS IF AT ALL POSSIBLE IF YOU EVER WANT A LOAN MOD. OR REFINANCING WITH THIS COMPANY...ALSO THEIR REGULAR BANKS SUCK ### JUST AS BAD!

Just wanted to publicly thank frustrated_at_wells! I read through tons of postings and the similarity to my situation was quite obvious. I have been waiting on a loan mod for almost 7 months and the stories about the service from loss mitigation were oh so true. I too was ready to throw in the towel and accept the inevitable. I came across the post from frustrated at wells and did exactly what he/she said. I emailed every exec I could find. The response was quite amazing. 72 hours later I finally received the news I had been waiting on. I am not sure completely if the execs pulled it off for me or the timing was just right, but what ever it was I am very thankful.

I went from $60, 000 to $13, 000 in salary in the 3 years since W.F. wrote my loan. Taxes prove it. Wells Fargo says I don't make enough $ to pay my loan Well, DUH?! Why do you think I need refinancing or modification?! They ONLY answered my request after I contacted my Senator. Finally Wells Fargo asked me for the info. and provided an envelope for UPS which THEY paid for. Ain't it just amazing they CLAIM never to have received it? Then they sent me a letter saying they got it, and it will take 45-60 to process my request and to keep paying my mortgage. When I tried to pay it on the phone they refused to take my payment, hoping to put me at the 3 months behind to foreclose. Finally they ALLOWED me to pay it with a late charge and charged me $25.00 for speaking to a representative whom I DID NOT request, but they wouldn't allow automated payments because I'm in arrears. Then they sent me a second request with ANOTHER UPS envelope and said they didn't receive, along with all the faxed documents I sent from my bank. Now they are at their third request. I am sending it back EMPTY so they pay for postage. I will then also send it a third time via United States Postal Service Return Receipt Requested, contact my Senator AGAIN, them email their executives. Maybe then God will smile on me. I must persevere. P.S. Wells Fargo SUCKS!

I HAVE BEEN TRYING TO GET A LOAN MOD FROM WELLS FARGO SINCE JUNE 2009, THEY KEEP TELLING ME I DONT QUALIFY, BUT WHEN I RECEIVE THE LETTER FROM THEM THEY HAVE MY INCOME WRONG AS WELL AS MY OUTGO EVERY MONTH . THEY ARE THE REASON I DONT QUALIFY . I BELIEVE THE STIMULUS MONEY WAS GIVEN TO ALL OF THESE LENDERS TO HELP PEOPLE, BUT THEY ARE NOT HELPING ANYONE . WHERE DOES ALL OF THAT LEFT OVER MONEY GO ? WHY DID THE GOVERNMENT GIVE THIS MONEY ? I WILL BE EMAILING ALL OF THE EXECS AS FRUSTRATED SUGGESTED, AND WE WILL SEE WHAT HAPPENS .

I agree with the last comment. WHERE IS all the stimulous MONEY when they aren't helping the people who are requesting the help?

I AM ELATED to have found this information. I JUST wrote out my detailed email - thank you to the poster that put up the executive emails (emails and names of bosses are VERY hard to get in the Loss Mitigation Department. They are so secretive about information that it's scary, almost like the CIA!).

I will follow up what the response is from the emails. Does anyone have other names to add to the list? I did have 4 names pop back from the list of 6.

And our story - we have been dealing with trying to get a loan mod since March 2009. We agreed to a forbearance plan for 3 months in the amount of $1, 000 each month with a balloon payment of $21, 000 due on the 4th month. Early in the forbearance plan we were assured that we would qualify for the "Home Affordable Modification" plan set out by the government. Check it out here - http://www.makinghomeaffordable.gov/modification_eligibility.html and that our investor is a Fannie Mae loan check to see if yours is here - http://loanlookup.fanniemae.com/loanlookup/

We called when the balloon payment was due on August 15th WF Loss Mitigation rep assured me that no payment was necessary. I said "are you sure that we shouldn't at least pay the $1, 000?" and he said no because it would get returned anyway. Well, was I wrong. I should have insisted because although I thought we were officially going to get loan mod paperwork in the next 4-6 weeks.

I called on Sept. 3rd to make sure that we were progressing and I was then told that we were placed in foreclosure for not living up to our end of the forbearance plan. I was shocked, disappointed and actually really pissed. They mislead us and I felt like it was a department error. After going to the 3rd manager that afternoon, I was told that the only thing they could do is send out an escalation email to the Loss Mit department to request that we get put back into review.

We called again on Sept. 8th and we were put back into "review" (fyi - it really meant we were in foreclosure and it was put on "suspension") and that we would find out the next step. That they needed updated financials, a hardship letter and a paycheck stub. We had JUST provided them with these docs 3 weeks prior. I didn't understand that they needed them AGAIN.

On Sept. 10th when I called (I realized quickly that it's important to call everyday and that the answers vary and that until I get the answer I am lookiing for that I needed to keep being the squeeky wheel) the rep told me that loan mod papers were being overnighted to us. I felt excited but it seemed odd that it happened so quickly.

We received the docs on the 11th and they were not really mod docs. They are what everyone here is describing. Basically they wanted us to be "behind" to justify giving us a crap deal which is no deal at all. They took all the payments we fell behind on and placed them to the back of the loan. Our payments went up $100 because of this and they kept the interest rate the same. So we are well over the 31% mortgage payment to salary ratio and our payment is at $2455 now. They didn't do anything to help us have some relief over the next few years or perminantly.

I was pissed when I got the news. Again, asked for a manager and she was the rudest out of all of them. She said this is the "best solution" they could find for us. But what is interesting is that when we began this progress in the beginning of 09 we received the same type of workout. They sent the same generic letter stating they "want to help us" and then 2 days later the same modification came this past week as what came early in the year. STRANGE!

So, I will update you all as this goes through.

Thanks for listening!

Bridget

I work in an office for loss mit, and I hate to tell you, but a lot of you are screwing yourselves. I try on a daily basis to help people the best that I can, and if you get angry and won't work with me due to documents being sent incorrectly and not accepted by the investor, there's nothing I can do but tell you to have a good day. We aren't giving you the run around when we ask you to do menial things, you actually HAVE to do them if you want your modification to process. In addition, from personal experience, most of the time if you have an actual problem the representative is going to have to go to hell and back to fix it for you, so (and I'm not saying this is right, but it's the way things are when you handle a few hundred calls a day) if they don't have a particular liking for you, you're probably going to end up with a half assed attempt at helping you. If you act like you care, and want things to work out, and are patient and understanding, they're probably going to do whatever they can to help you. Wells Fargo makes it HARD for us to help you quite often, so before you get pissed off and yell at that rep you're talking to, you might want to think twice, because he might be getting ready to do whatever he can.

Also, do yourself a huge favor and don't listen to 50% of the ### you see on this site. A lot of the things people are saying is complete BS and will get your house into foreclosure or kicked out of the loan mod. process. We have NO reason to lie to you, believe it or not our job is not to collect ( I get NO bonus or incentive at all to take payments, and we aren't told to push for them at all. ), it's to get you off the phone as quickly as we can without lying. The quickest way to get you off the phone is usually just to tell the truth, so that's what we do.

Also, what we offer you IS the best we can offer. Again, we have NO INCENTIVE to screw you over, I know you love to think it's a huge conspiracy to get you out of your house, but I or the other reps do not care at all if you end up staying in your house or not. If you want to, we'll try and help you, if you'll allow us. Just because it's not the answer or solution you were looking for doesn't mean we messed up or we are trying to screw you, it means you didn't meet the guidelines for that particular plan. Tough cookies. Trust me, I'm not going to risk my job just to screw you over. Also, acting like you are ENTITLED to anything makes you seem like an ###, and that's not just with WFHM or loss mitigation, that's with life. The bottom line is no one is entitled to anything, except life, liberty, and pursuit of happiness. You signed the papers, and just because WFHM got a little chunk of change doesn't mean they're going to give it to you, whether they are supposed to or not. That's the way the world works, sorry.

I guess the short of it is, if you really want help, find a good rep and get their ID/extension, you'd be surprised how willing to help most of us are if you'll just tell us your problem, let us tell you what we can do and then let us do it. Arguing with us about what we can or can't and need to do doesn't help, because we are usually doing the limit of what we can do. It just puts the rep in a bad mood and because of the way Wells Fargo limits us and makes it hard for us to fix errors, and then we don't feel like going beyond what is required of us to help you. I know that's not the way things should be, but everyone is human and I'm sure in your job you don't always go beyond the call of duty for every single person who passes through, and neither will we. It's life.

I work with Wells Fargo Home Mortgage with the Loss Mitigation phone team. Looking at all these comments from numerous amounts of people really make me feel bad. I totally understand the frustration and I also understand that everytime when you do call in you get different answers. That is another part of my job that is very frustrating. I like to be completley honest with people when they call in and the thing that is very hard for all of us that work there is that we can only go by what the notes on that one screen say. It really sucks that we dont have any specifics on what is going on in the process and where your workout option is at that preticular point and I just want to assure all of you that even though some people dont know what they are talking about in the call centers, the people who are actually working on the loans are doing whatever they can do to get you approved for some kind of workout option to save your home...This process is very new to us and we are trying to learn it fast so we can all be on the same page.Every morning when I get there at 7 am we have team meetings and I can see that our supervisors are working very hard to keep us all updated on what is going on so we can provide you with the best service. I on my behalf apologize for all the rep's that were rude to each and one of you and I hope to speak with you next time you do call in because Im the type of person who will tell you the truth, I will not tell you what I think you need to hear, but what is really going on at that time. Again, I apologize and I hope the best for all of you!

***ninaliceous comment was very rude!

LaLa19

IF YOU DO HAPPEN TO SEE THIS... YOU, NOR YOUR COMPANY CAN DEFEND MY STORY WITH ANY POSSIBLE EXPLANATIONS!

I LOST MY JOB LIKE A LOT OF OTHER PEOPLE AND FELL BEHIND

WENT ON REPAYMENT PLAN

WAS LATE ON ONE OF THE PAYMENTS

THEY SET ME UP ON A NEW ONE

I FIND OUT THROUGH CONNECTIONS THAT MY PROPERTY ADDRESS FORECLOSURE PROCEDINGS HAVE JUST BEGAN

KEEP IN MIND I HAVE RECEIVED NO NOTIFICATION THAT FORECLOSURE WAS EVEN A REMOTE POSSIBILITY YET

I CALLED WELLS FARGO, 3 DAYS IN A ROW, EVERYTIME THEY STATED EVERYTHING IS FINE, JUST MAKE YOUR NEXT PAYMENT ON THE 17Th

I DID NOT LET IT GO, I GOT IN TOUCH WITH THE SHERIFFS DEPT, THEY HAD NOT RECEIVED ANY PAPERWORK ON MY PROPERTY AT ALL, I KEEP CALLING THEM TWICE A DAY EVERYDAY ALSO, SO IF IN FACT THIS FORECLOSURE FRAUD WAS IN ITS BEGINNINGS

I REVISITED MY SOURCES AND THEY CALLED IN SOME FAVORS, AND GOT ME THE NAME OF THE LAWYER

(WHO, I MAY ALSO ADD, IS CURRENTLY UNDER INVESTIGATION BY THE FBI FOR FORCING FORECLOSURES ON OVER 1000 PROPERTIES, WHEN THEY WERE NOT EVEN LATE ON PAYMENTS, HE FILED FALSE PAPERWORK WITH THE SHERIFFS DEPTS, HE CLAIMED TO BE REPRESENTING SEVERAL LENDERS IN THE FORECLOSURE OF ALL OF THESE PROPERTIES )

I CALLED THE ATTORNEY, TO DATE PROBABLY 200-300 TIMES, STILL NOTHING.

BUT, BETWEEN THE FIRST DAY THIS ALL STARTED TO THE PRESENT, I WAS ABLE TO SPEAK WITH THE SECRETARY OR WHATEVER A FEW TIMES AND MADE IT CLEAR THAT I HAVE CASH IN HAND, WILLING TO BRING LOAN CURRENT.

I SPECIFICALLY ASKED FOR FULL REINSTATEMENT DURING AT LEAST 3 OF THESE CALLS, THE FIRST OF WHICH WAS IN MID-AUGUST.

(KEEP IN MIND I REQUESTED REINSTATEMENT BEFORE THE LAWYERS PAPERWORK WAS PROCEED BY THE SHERIFFS DEPT AND COUNTY ETC, SO HE HAD DONE NO WORK YET!)

THAT WAS A MONTH AND A HALF AGO!

THE ATTORNEY REFUSED ANY CONTACT WITH ME OR THE WELLS FARGO LIASSON ON MY BEHALF! UNTIL ON THE 23rd OF LAST MONTH HE FINALLY FORCED THE PAPERWORK THROUGH THE SHERIFFS DEPT, AND THEREFORE COULD ADD AN ADDITIONAL $3200 TO HIS FEES.

IN AUGUST WHEN I ASKED FOR APPROX REINSTATEMENT TOTAL IT WAS $6244
SEPTEMBER 18th IT WAS $6640
SEPTEMBER 23rd IT WAS $9242
SEPTEMBER 28th IT WAS $9680
YESTARDAY $10, 2022

I TOLD WELLS FARGO I REFUSE TO PAY THE ADDITION $3000

(THATS $3000 ON TOP OF THE NORMAL ATTORNEY FEES ETC, I KNOW I HAVE TO COVER THOSE COSTS, AND I HAVE HAD CASH IN HAND, LITERALLY, STACK OF BILLS FOR ALMOST 2 MONTHS WAITING AND BEING SCREWED BY THIS LAWYER THAT WELLS FARGO HIRED)

GOOGLE

ATTORNEY "DEAN MORRIS"
IN MONROE LOUISIANA,

THEN GOOGLE HIS NAME AND THE NEW ORLEANS LOUISIANA "PROPERTY FLIPPING SCAM" I AM STARTING TO WONDER IF HE IS IN FACT ALREADY IN FEDERAL PRISON AND THAT IS THE REASON HE WILL NOT RETURN MY EMAILS/CALLS NOR WELLS FARGO'S EMAILS/CALLS/LETTERS/ETC

******** IF YOU REALLY WORK FOR WELLS FARGO, I REALLY NEED YOUR HELP ******
******** I DO NOT WANT ANY LOAN MODIFICATION! *******************
******** I DO NOT WANT ANY PAYMENT ASSISTANCE! *****************
******** I HAVE CASH IN HAND, READY TO PAY! *********************
******** WELLS FARGO IS ALLOWING THIS ALREADY, FEDERALLY INDICTED ATTORNEY SCREW ME AND PROBABLY THOUSANDS OF OTHERS! **********
******** I EVEN OFFERED TO PAY WELLS FARGO DIRECTLY EVERY PENNY I OWE THEM TO DATE, FEES, ETC, AND LEAVE THE ATTORNEY FEES THAT ARE BEING QUESTIONED BY ME AND ALSO BY WELLS FARGO STAFF, ON HOLD UNTIL AT LEAST ONE OF US CAN AT LEAST TALK TO HIM, AT LEAST 1 TIME, EVER !*********************************

! FOR ALMOST 2 MONTHS I HAVE BEEN TRYING TO PAY ALL BACK PAYMENTS!
! LATE FEES, ETC !
! I ALREADY PAID IN FULL AND CLOSED MY ESCROW ACCOUNT !
! ALL TAXES ARE PAID AND HAVE BEEN FOR OVER A YEAR !
! STATE FARM HOMEOWNERS POLICY IS PAID IN FULL UNTIL NEXT SPRING !
! WHAT THE HELL IS GOING ON?

PLEASE SOMEONE WHO CAN GET ANSWERS, HELP ME OUT,

IF SOMEONE GIVES ME THE PHYSICAL ADDRESS TO WELL FARGO FORECLOSURE DEPARTMENT, AND SOME NAMES WOULD BE NICE ALSO, I WILL BE THERE FIRST THING MONDAY MORNING, WITH A TENT, WATER, SLEEPING BAG, AND SOME SNACKS, AND STAY UNTIL SOMEONE STARTS GIVING US ALL ANSWERS!

CAN SOMEONE AT LEAST GIVE A LIST OF NAMES OF REAL WELLS FARGO MANAGEMENT AND PHONE NUMBERS OR CONTACT NUMBERS? LIKE PEOPLE WHO CAN ACTUALLY MAKE DECISIONS?

LASTLY, I KNOW WELLS FARGO HAS A LEGAL TEAM, A SENIOR REP IN FORECLOSURE DEPT LET IT SLIP, THEY PROTECT WELLS FARGO FROM EXACTLY THE TYPE OF ISSUE I AM HAVING, HER NAME WAS STEPHANY MOORE, THEN SHE QUICKLY STATED "O THAT OFFICE HAS NO CONTACT INFORMATION"

WELL THANK YOU ALL FOR READING, I KNOW ITS A LONG POST, BUT THIS IS LITERALLY ABOUT 20% OF THE WHOLE STORY. AND LIKE A PREVIOUS POSTER STATED, IT DOES HELP TO CALL EVERYDAY, OR TRY TO TALK SOMEONE EVERYDAY. I HAVE BEEN RESERVING 2-3 HOURS A DAY TO SPEND ON THE PHONE WITH WELLS FARGO.

THANKS ALL,
GOOD LUCK TO EVERYONE,
GOD BLESS :)

LaLa19 I'LL CHECK BACK N SEE IF YOU THINK YOU CAN HELP, OR GIVE ANY ADVICE, IF YOU NEED I CAN WORK OUT A WAY TO GIVE YOU MY EMAIL OR PHONE NUMBER OR SOMETHING IF YOU NEED.

THANKS

DISCO

Why does Wells Fargo want to take my home?
I'm a single divorced mother. I called the Fort Mills, SC branch and was approved for a Loan Modification. Wells Fargo automatically withdrew my first payment. I was told if I made this lower payment for three months in a row on time that my loan would stay at this lower rate.

3 days after my first initial payment was received by Wells Fargo, I received a notice that my home (even though I was not behind or late) would go into forclosure unless I made my regular payment and paid a late fee.

The "regular" Wells Fargo customer service said that I was orginally in the Special Forbearance Program but that the rules have changed and 3 days after my first payment, I was kicked out of the program because I no long fit the qualifications.

The Fort Mills, SC must be working on a different planet than the other Wells Fargo Depts. Don't they care that they are messing with peoples lives - I'm ready to have a nervouse breakdown over this and good luck getting an answer. How can you be approved 1 day and 3 days later you are kicked out and now have to pay extra fees. I've never even received anything in writing saying that I was no longer in the program - just threats!

I, too, have been fighting with WFHM since March 2009. I have since been told of an organization called NACA. They help with these particular matters. I have submitted all my information to NACA along with all the letters from WFHM and am waiting for my turn to have a conference call with them. Website is NACA.ORG. I have also been advised of a new Supreme Court Foreclosure Mediation Program. As of October 1, in any notice of default that you are served with, mailed, or whatever, they need to put in the requisite forms so that you can file with the Supreme Court your request for a mediation. My understanding is that the lender, servicers or investors MUST send someone with authority to settle the matter. The goal is to stop the foreclosures. Check the rules in your area. I have enough tools in my basket, they will not get my home without a fight. I have e-mailed John Stumpf directly and told him this. His email address is: John.G.Stumpf@wellsfargo.com. Tell him Kim sent you. I will post his e-mail address to all. I also have a direct telephone number to his "assistant" in the "presidential" office if anyone wants that. This company is not trying to save anything. I was told I was approved for a loan mod at 2.87% for 25.75 years. Then, they sent me a letter saying I did not qualify due to a deficit. Too funny. Now, I am really annoyed and will do what I can to get the information out. I have requested copies of my file, including electronic note, etc. I am sure they will not send them. I will get them all through the Court. Good luck to everyone dealing with WFHM. They are cheats and liars. The special forebearance agreements are so they can get the government money without helping anyone. It is not the reps fault it is the management. The reps can only do what they are told and can only give the information they have access to. Take it to the top, that is where the problem is. Hit them where it hurts. In their pocket.

Has anyone successfully made it through the three month special forbearance? If so, I would love to know what happened next?
I've been working on trying to get our loan modified since January when my husbands income was dramatically reduced. Like most of the post, I have jumped through many hoops to get this far - but we just finally received a three month trial forbearance at a reduced rate. The forbearance payment they gave us is ideal but I do not know if it will remain the same after the three months. Will we have to resubmit our paperwork again and start all over? Or will they approve our modification as long as we pay the forbearance in a timely manner?

I'd also like to thank the WF reps that took time to write in on this blog as it does help to hear their point of view. The system is definitely messed up, and it makes sense that the reps also get frustrated. It would be much better if WF would assign files to specific reps so that we can have a key point contact. It is frustrating to talk to a million different reps, some good and some horrible; as I'm sure it's frustrating for reps to talk to 100 different clients - most of which are highly upset. If you think about it, it's a vicious cycle.

I too have been having the EXACT problem with lost documents and unhelpful customer service from Wells Fargo's Loss Mitigation department. I sent in my documents using the pre-paid overnight UPS envelope provided, but was told the documents were never received; were not filled out properly; and documents were missing. After arguments with customer service reps to forward me to a supervisor on multiple calls, the supervisor said they didn't have my documentation in their computer system. I sent a second package of copied documents at my own expense using USPS with Confirmation, only to find that the documents were sitting in the St. Paul, MN post office. The post office said they were unable to deliver the documents. They said that they had left a notice at the address, and that the company had not made arrangements to obtain the package. I have sent an email to the executives at Wells Fargo, and the Illinois
State's Attorney's office, and SIGTARP. I am also in the process of contacting the newspapers, news networks, and the ACLU regarding this story. This is fraud and discrimination. They are using Federal dollars to support their companies, and not the customers. They are discriminating against people who do not have the finances to file lawsuits. How many people didn't make copies of their original documents, or have given up just because they have been pushed beyond their limits? I'm tired of this. These people belong in JAIL!

I applied for a modifaction just one month ago. I had been calling them for months explaining that I knew that I would soon run out of savings. Up until August I was able to pay all of my payments, sometimes after the 16th, but before the end of the month to keep from having a 30 day late on my credit. Nevertheless, I missed August's payment. I received the Obama Hamp letter that WF sent to me right after that. They implied I qualified for the program and after researching it. I think I do. I did pay in September bill which they credited for August. It is now time for me to pay the October payment. I got modication approval letter UPS today. It is just some type written papers with there terms of agreement on it. They say I don't have to pay a payment until Jan. 1, 2010. They are wanting to set my interest rate at 5% fixed. All good. But they want me to pay an addition 7, ooo on my balance, and I have to pay the late fees of 800 dollars now. And the payment only went down 200 dollars. Better than nothing I guess. And they want all papers within 5 days. I called with some questions. The number I was given to call from the modication approval papers, they gave me a person who could not answer my questions, so she transfered me to someone else. My first question was the payment is still almost 50% of my gross salary, I thought I qualified for the HAMP. I was told that I was not even considered for that program. That they tried to modify as many loans as they could without having to go through that program. That they go by lender guideline and no one can ever tell you what the guidelines are, but they change daily. Well, the representative put in a request for my file to be looked at for the HAMP program. I should know something before December. Pray for me, please. He said if I signed the modification papers they sent to me I could not get a HAMP modification. I told him how important my mortgage was to me and that my family had been living in this house since 1999 and that I would have this months payment in before the end of the month. He told me that if I sent my payment in that it would not go toward my payment. That it would go into a suspense account. All because I had filled out the modification packet and sent it in and I had missed one payment that my file had been moved to a different department. I thought I was doing the right thing by trying to be on top of things and communicating with them. So, what I get out of this is that if I pay my payment, I don't get credit paying it, and my credit score will show that I am 60 days delinquent even if I pay it. And for the next month 90 etc. I feel like I am being forced into this modification. The only way to get out from it is to pay the month I am behind and the current month but modification stops. I would not have filled the papers for the modification had I known this. I am very confused as to what I am suppose to do. They sent me letters stating that I need to continue to make my monthly payments until modification was complete. If they were going to put the funds in a suspense account they should have given me that information. At this point, I am not sending any money in. I am going to call and make sure I understood everything correctly tomorrow. I am going to as them to put it in writing. Then I am going to fax them a letter to put in my file to validate my responses. I hope I can update with a good report, but I am feeling doubtful. I am going to sit tight and pray for the Obama HAMP. Either way my credit is screwed. If I have to walk, I guess I have to walk.

Good day,

My name is Sheila Alieva and I work with NSS Financial Services LLC. The purpose of me writing posting this response is for people who are struggling in their attempts to perform a loan modification with their banks. I work as a loss mitigation negotiator with NSS Financial Services, and in addition I work with Wallstreet Mortgage Bank, specializing in debt consolidation, cash out, and refinancing. Both options are available to you, and if you are interested in having me help, I would be more than glad to show you how. You can contact me via email at salieva@nssfinancials.com or by my direct email at sheila.alieva@yahoo.com.

Thank you and hope to hear from you soon.
Sheila Alieva
[protected] x504

Wells Fargo Loan Mod, Ha, Ha...

I do not even know where to start, Are income went way down and never have I felt so low and as if I was put into a trap by Wells Fargo for applying for the Home Modification, We thought we were doing what was are only options that had something to keep us in are home and the payment would go down to adjust to are now income, ha, ha.

We have used what would have been are retirement to stay on top, since are income went way down and then with the loan modification we could still keep are house, We only have a house payment and one of the vehicles has 3 years left on it, but the house payment was done with are better income we use to have, now the income is way down, we thought this program " Home Modification " was the answers and hope we were looking for.

What a nightmare, the first week we applied a recorded machine from " Wells Fargo" Hi, this is Jessica with wells fargo...and 3 times a week the recording calls / for 3 months now.
Then we get letter's from " Wells Fargo " that they are trying to collect on a debt...Say what! Are house payment is being paid and we have not been late..yet...but we are a boat sinking.
The reps with wells fargo said we did not get the loan modification months back, but we could skip 3 months payments and then pay 2, 800.00 in 3 months and then go back to are regular payment, they said that should give us time to pay off are bills...say what! 3 months and we pay off the house or the vehicle that has 3 years left on it that's the only bills we have...If we could pay them off do not they think we would, that is why they are on LOANS...told then how could this help and their is no way in 3 months to pay either the house or the 3 years left on the another vehicle in 3 months, so told them no Thank You on that offer, BUT they still have the recorded " Jessica, from wells fargo calling, and still continue to treat us as if they are a debt collector...We only asked and applied for a " Loan Modification " we are a ship sinking...We can not help that the economy went like it did, it not only took a big part of are income away, it also took 75% of are retirement, gone, good by, the stocks crashed, so what little was left we took out early to help keep are house payment paid, good-by too that now, and the economy is sinking more, so good-by to us getting back to more of a income.
I see some of the reps from wells fargo posted on here, So PLEASE what was the whole idea with the loan modification..if no one can have or get them!
Here is a number off of the " Making Home Affordable Program "
[protected]- HOPE, it does read to call your lender direct, well been their done that, so since the above is the main site for the program, I will be calling them tomorrow, also on their site it reads to e-mail your senator of your state...also do not pay to have a Loan Modification done by place's that what you to pay for it, they have been know to scam if they want you to pay for the modification loan.

We are still trying for a Loan Modification, but we are trying what other option's are their for us..made they will not hear one voice..but maybe they will hear all are voice's!

HOUSE-OPTIONS WANTED/NEEDED ASAP

Hello, my name is Sandy I am originally from York, Pa. but now I reside in Richardson, TX. I am 66 years of age; my only income is Social Security. I have no savings of any kind and no other retirement income. I am trying to save a house I share with my son-in-law after losing my daughter to cancer a few years back. I know this is a long shot but I thought I would reach out to others and see if there were any options that might lead to a Home Modification that would lower the house payment to around $850.00 to $700.00. I realize the likelihood of receiving any help might not be there but I thought I would try. This house was very dear to my daughter and son-in-law. They bought it as a fixer upper with hope of turning it into a home they could raise a family in. We are several months behind with Wells Fargo and currently in our last month of Forbearance and then foreclosure. There must be a way for Wells Fargo to allow us to stay here.

SOME HISTORY;

I moved from Pa to Dallas TX after my job ended at the local post office and the last remaining member of my family, my sister, passed away. I came with hope of visiting and possibly staying with my beautiful daughter until I could find work and a place of my own. Everything was going well, I found a job shortly after coming to Dallas, bought a car and lived with my daughter in her apartment. Michelle was working two jobs and going to school. She was always like that. She did Ballet, Tap and Jazz Dance as a child, Swimming, Ice skating for 10 years including the Ice Capades, Navy See Bee 5 years, and so on. She was in college working on her business – management degree while dating a nice guy named Alan who was crazy about her. They talked of marriage her graduation. Alan worked for J. C. Penney in the Corp. Office doing some type of technical support in a place they called a NOC. After Michelle graduated, Alan and she found a house they wanted to make into a home for a family. Since we all got along so well I was invited to move in and help with some of the repair work.

Although they started a lot of repair projects, such as painting, ceiling fans, some new doors, crown molding cutting down hackberry trees etc. all seemed to slow down to a halt when Michelle discovered she had breast cancer. I thought maybe she had a good chance of surviving as I am a breast cancer survivor myself of over 20 years. The doctor she was seeing gave her a very poor outcome, so my soon to be son-in-law Alan started researching Cancer on the internet in order to buy her more time. Nothing was working, Michelle had a lumpectomy, chemotherapy, and than a mastectomy removing the right breast. Another small surgery to remove even more cancer, after numerous rounds of radiation, the cancer became metastatic moving to the bones and spine. Michelle was spending quite a bit of time in the hospital while Alan and I and other church people kept vigilance at her bedside. Long story short, Michelle had a short time to live, my son in law found an experimental treatment www.IPTQ.com the treatment held a lot of promise for Michelle but the only person who was using this treatment close to TX was in Atlanta, GA. Michelle went to Atlanta and did OK the first few days, but the guy treating her was deceptive in his skills and grossly overdosed her on Methyltrexate.

Because of the overdose Michelle suffered with failed kidneys, septic shock and passed away of congestive heart failure on Christmas Day a few years back. My son-in-law and I were both at the hospital when Michelle passed away, it was horrible losing my daughter like that and my son-in-law took it very hard. Although he tried to return to work he couldn’t deal with the grief and guilt he felt, lost his job and has had a very difficult time trying to find work since, he has been hospitalized many times for drug overdose and is mentally and emotionally disabled still. He has been trying to continue the work on the house in memory of Michelle while being under psychiatric care and on several meds dealing with PTSD, anxiety disorder, as well as many side effects from the meds he is currently on.

OTHER HELP OPTIONS;

Alan and I have tried many charities or organizations seeking assistance through 211; we have received some temporary help with food, utilities a new furnace and water heater. We have applied for loan help with the Hope Foundation through HUD, through CCCS, Acorn, Dallas County, Greg Abbott and others to no avail. Alan was able to qualify for disability but there is no way we can catch up or make the $800, 00 payment in order to qualify for loan modification that will refinance the house for another 30 years.

The bank will take the other amount of 12, 000 and put in on the end of the note. The program is called

The H.A.M.P program. https://www.hmpadmin.com/portal/index.html

Thank God for some of the small pets. I love them so much and they have been such a blessing to Alan and I.

AT PRESENT;

We are several months behind on the house with Wells Fargo threatening to foreclose on the house within 20-30 after their demand letter. Alan has applied at over 20, 000 jobs online and been to almost every job fair that came his way. The few interviews that came his way wanted good credit, active certifications, recent employment, and more. He has tried to stay busy with temp jobs but they come and go. I had to take retirement due to health issues and have been helping or taking care of everything including Alan. I have used up every bit of credit and more with hope of Alan snapping out of it and or finding work to no avail. There are days Allen is too depressed to get up out of bed and other days he seems to do better and works on the house finishing what ever he starts however if someone or something upsets him he is back in a very depressed state for days. The house still needs many repairs, wiring problems in the attic, no insulation, and the roof leaks and needs replacing, no yard, no fence, inside flooring is bad and more. Allen has no one and we both have no where to go.

I realize this is a long letter, but I had to give you some background to show you that I have been trying to stay afloat, but I am now drowning. I have no family to help with anything. If you know of anything more that I can do or any other programs that will help me survive this situation, please let me know ASAP. If you desire anymore information of any kind, or need to send paper work to be filled out, please write me at reaxe42@yahoo.com

Thanks very much for reading. !

God Bless! Sandy

Dont expect much from these people. My loan modification was supposed to help me in the long term, insted it just added 21 years of payments to the house. 21 YEARS! By the time I pay this thing off on their terms I'll be too old to remember where to send the payments. Obama's bail-out plan for homeowners is a big joke and the mortgage companies are taking advantage of it in a big way. As usual!

WARNING DONOT USE WELLS FARGO BANK: I am a realtor in Oregon I work on short sales, they have been one of the worst most incompetent bunch idiots, they don't have good service, the negotiators are a joke, I've had clients who have used their services when they were getting a home loan and that was worse yet. They forgot to lock the rate and when they had a 30 days to complete the loan it take 2 and 1/2 months. Their gaurantee says they will close by closing date or they will pay the first months mortgage payments and when the clients tried to collect on that guarantee, they were told that the company offered know such guarantee, thats a joke. If any one is banking with them put your money in a credit union you might get alot better service.

We have been trying for 8 months to get a modification with Wells Fargo. As others we kept getting the same story they were working on it and not to worry. We have summited paperwork over and over again. Twice we were told we were approved we waited for papers and each time the story changed. Today we were served with foreclosure notice.
I'm thinking if I blow my brains out my wife will have an awesome lawsuit against these ###s. I hate them!

I am at a loss of where to go within the company and am hoping someone can provide me with help, Or get me in touch with a person who can do so. I began my loan with Wells Fargo in Septmber 2008. I lost my job in May 2009 and went to WF to ask for help with my payments. I was granted a three month non-payment agreement and in September 2009 I received a letter at my address telling me about the HAMP program and to call in and see if I would qualify. I called in immediately and was told yes, I did qualify. I was set up for the "three month trial" modification. I was told this had to be directly debited from my bank account and I provided that information and it was scheduled to come out October 29th 2009, December 1st 2009, and January 1 2010. I was given three confirmation numbers from the rep. Our payment was never debited from our bank account and I called the customer service and was assured all was good, And that it would take a few days because they were backed up and overwhelmed with customers taking advantage of the program. By two weeks later I knew something was wrong, And after calling in daily I was finally told I was no longer in the program due to lack of payment. The payment was returned due to invalid account. What happened is the rep who set the payment up in September entered my bank account information wrong (It was missing one digit) I was told this was a easy fix and to call back in 5 business days. At that time we corrected the bank account number. Well here we are entering the New Year and I have called at least twice a week since then and am always told the issue has been escalated and no resolution has been determined on my account. WF placed my home in a short sale, I had no knowledge of this and did not request this. We have since then cancelled that. They have threatened me with foreclosure proceedings. I want to pay for my home, but I want to be in the HAMP program that Wells Fargo told me I qualified for. I want to pay the amount Wells Fargo told me I qualified for. We did not miss our payment, The Wells Fargo rep on the line in September entered the information wrong. I understand this is human error, but Wells Fargo has had more than three months to correct this issue and nothing has been done to help me. When I call in I am bounced back and forth between collections and loss mitigations. I am never able to speak to a manager. No one helps me, At the end of each phone call I am told to call back in "5 business days" "to please be patient" My patience has worn out. I am falling further and further behind in my payments. Not once has anyone called me to correct this issue, to apologize or to take a payment for the correct amount. Now they claim I should have never even been in the program. Which makes no sense, Why set my bank account out to debit three payments if I was never supposed to be in the program? Anyone know who I can contact? Email? Address? Fax?

EVERYONE..File a complaint with the OCC.( Office of Comptroller of Currency) WF HAS to reply in 10 buisness days. Maybe if the OCC sees a lot of complaints, WF will be shut down. wouldn't that be nice. GOOD LUCK

EVERYONE.. the OCC will open a file for you & give you an answer in 10 days

As a Certified Distressed Property Expert (CDPE), I spend a good part of my day assisting homeowners with distressed situations. The banks overall have done a poor job in handling most of these situations. It has been an overwhelming situation for them, too. I use the analogy that if you were having a party and were ready for 50 people to come to your home and 6, 000 people showed up - the issues would be crazy big - something youwould not have been trained to deal with. Same with the banks - there are millions of distressed homeowners and the banks are not set up to handle this volumn of situations. To each distressed homeowner it is real - very real - to the banks it is overwhelming.

With that being said, Wells has done a relatively good job. One of the biggest problems is the "false hope" of homeowners are anticipating getting a loan modification when in reality the numbers show that less the 10% of homeowners that apply will get a successful loan modification. That means that 90% of the people will not get a mod and will end up short selling, being foreclosed upon or may find a way to get out of their hardship. There are no simple answers. Wells has done a relatively good job with short sales.

I have helped many homeowner with Wells. If you would like to send me your specific circumstance, I'll see if I can help. For the most part, I have seen homeowners that should and will get mods and I have seen homeowners who have no way of getting a mod - These homeowners need to be told no and find alternative housing - otherwise the bank will be forced to foreclose. Over time this will all work out. The homeowners that I have helped are very happy to have moved on from their circumstance. Whether it was a loan mod or they ended up completing a short sale - In fact, the clients who have completed a short sale are so happy (not at first, yet when the process was done and they realized it was just a house and their negative equity situation was handled and they are now comfortably living within their means.)

Bob Dalsimer, MBA, CDPE
bob@inspiragroup.com