It has taken me sometime to finally tell our story but it is time. We have done things pretty much in the right order I think. We both worked built our home and married the same year. Had our one gift (our son) three years later. Our mortgage was with Firstfed they sold our note to ASC/Wells Fargo we did not realize this could be done. We always worked, for 19 years we paid our mortage then we fell upon hard times.
ASC/Wells Fargo was willing to work with us for 6 months we paid the amount we were told they kept telling us not to worry they would get us into a program. We had alot of equity in our home which made me worry our mortgage was $200,000 and home was valued above $500,000. We went to counseling also, they were so overwhelmed, we were told it was a fannie mae mortgage not to worry (I worried). Five months into it he realized it wasn't Fannie Mae (great now worry)
We went thru months and months of getting kicked out of the program they would state we did not send info-I would resend everything - every month writing new hardship letters. [continued below]....
..... After this happening month after month we new they were just messing with us.
I contacted state Reps office at that point I was contacted directly by Wells Fargo's Presidential Offices went through all the paperwork again with one and again with another. The first letter we received stated we made to much to qualify for modification. The second letter stated we did not make enough. My calls were not returned...We received a letter saying if we could not bring payment upto date within a month they would start forclosure, payment was over $12,000. Oh or we could do a short sale.
My family and I have gone through h*ll!! America's Servicing Co/Wells Fargo forced us to sell so we would not loose all our equity. We were lucky enough to walk away with something but what we lost can never ever be replaced. We lost our home of 19 years, because this company couldn't lower our interest rate from 7.5% to 5% what they wouldn't be making enough.
These companies are doing this to people everyday it isn't right!! We WORRIED and we were lucky we had equity that is the only reason we walked away with something. Our mortgage now is with a bank that will alway be the servicer of our note!