• Report: #1051439


  • Submitted: Thu, May 16, 2013
  • Updated: Thu, May 16, 2013

  • Reported By: Docdrea — Columbia Missouri
800 Walnut Internet USA

WELLS FARGO HOME MORTGAGE Stalled and red-taped short sale forcing realtor to quit and foreclosure Des Moines Iowa

*Consumer Comment: Any progress? How did it all work out?

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In January I had to move to spontaneously for a new job. I listed my house with a realtor on December 26, 2012 in order to sell it. At the same time I contacted Wells Fargo about doing a shot sale because the housing market where I live is almost non-existent, therefore I tried to do the right thing. I could not and still can not afford payments on two places (I am currently having to rent), and informed them of this fact, in addition to not having a paycheck for the entire month of January. 

They assigned me a mortgage preservation specialist named Latoya Freeman. Right after I spoke with her the first (and only) time, she has only sent me paperwork in the mail. I was informed that all I needed to send to them to start the process was 30 days of income, which I could only provide from the last pay stub of my former job and the one pay stub from my new job I received on January 31. I also provided them with a copy of my current lease agreement and was told this information would be enough. 

A few weeks later, I called to find out the status of the short sale and was informed they had closed the process because I did not give them all the information, when I informed them they told me I only needed to provide them with the information they originally told me to send them, they said I was wrong and accused me of lying. I argued with them for several minutes when they agreed to reopen the short sale process, but I had to provide them with 2 years worth of tax returns (???) and 90 days of bank statements. I asked them why they needed the tax returns and bank statements when I didn't have to provide them in order to purchase the home. 

Their response was because FHA said so. I could not believe the childish reply they gave me. I told them they were not going to get my tax returns because my children's social security info was in it and was told to black it out. Again I asked why they needed it and they asked me what I was hiding. I lamented and agreed to send them the portion of the return showing what I made for the year and what I received back, but the bank account is joint and because the other owner and I are not married, I could not give them the information since I did not have consent. 

Again they accused me of hiding something and said they needed all of the pages of the tax return, which is close to 90 pages in some instances. They still could not give me a valid reason why and told me they would forward my inquiry on and that I was to contact them back in 48 hours to find out the answer. I told them I was working that day, but gave them consent to leave a message on my voicemail and that it does say my full name. However, they again informed me it was my responsibility. 

I called Latoya more than a half dozen times, left voicemails, spoke to her manager, her manager's manager and to this point I have never received a call back. They keep sending me generic letters thanking me for my interest in the short sale process, thanking me for talking to them (but I have not talked to them) and now they are calling me 3-4 times a day. On April 1, 2013, my realtor called me and quit because she could not talk to anyone at Wells Fargo, could not access any of the paperwork on Equator they said was there. She called them to find out why she couldn't get to the paperwork and was told to call tech support, tech support told her to call the bank back. She also informed me that she had someone who wanted to purchase the home but was only prequalified for $90,000. I owed $94,000. If the short sale would have gone through I could have sold the house before it was to late.

When I called the bank about it, they told me to get another realtor and start the process over. I understand I did not make the payments and the house is going into foreclosure because of it, but they refused to work with me, so I could try my hardest to do the right thing. They are still fighting me, harrassing me, and finally I had to demand they cease contacting me. 

Is there anything I can do about how they stone walled me into foreclosure when I could have sold the house back in March? I am so furious with how they dealt with me and my realtor. 

This report was posted on Ripoff Report on 05/16/2013 12:22 PM and is a permanent record located here: http://www.ripoffreport.com/r/WELLS-FARGO-HOME-MORTGAGE/internet/WELLS-FARGO-HOME-MORTGAGE-Stalled-and-red-taped-short-sale-forcing-realtor-to-quit-and-f-1051439. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Any progress? How did it all work out?

AUTHOR: Beth in SC - ()


We are going through pretty much the EXACT same thing now  (a year after you) with Wells Fargo.  They 'lost' our file at the exact time we found a buyer for a short sale purchase.  They did not expedit the process due to their loss.  We had to start the process again. 

We, too, had been curent all along with payments.  Now that we are deliquent (in order to do the short sale) they are reporting negatively on our credit.

I was wondering if you have made any progress or have come to any solutions?

Thanks for any advice.

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