On November 9, 2007, I received a request for consent to order credit report from an individual in a Wells Fargo branch so she could refinance for me. At this time I was told that an FHA loan could be done.
I had been paying my mortgage payment faithfully since I bought my home in October 2006. In January I received a letter from Wells Fargo saying they had escrowed my real estate taxes into my payment. They also escrowed my insurance into this too. This caused my payment to jump from $611.72 to $1,281.37. I knew I would not be able to make that big payment in March; however this individual said she would have the loan closed before that date.
Issues started coming up about my roof--and that seemed to be all they were worried about. First they wanted a 2-yr certification that my roof would last 2 years--I couldn't get that. Then she told me they wouldn't need that certification and that we should be able to close on the loan. then she turns around again and said they wanted that certification.
Because of all this stuff going on with the roof--she never got my loan closed and I couldn't make that payment. I had to set up payment arrangements with Wells Fargo-- I had to make 3 payments in May, June, and July of $1,071.07. This was hard for me to do because I had to use my whole check on the 25th of April, May, and June just to make that payment. Now they are supposed to be looking at reducing my payment and changing my interest rate.
I had even tried with a Wells Fargo office close to where I live to refinance me but they wouldn't because they are showing me 90 days late on my loan--they have ruined my credit and caused me to not be able to get help from anyone else.
Green Valley, Illinois