In the summer of 2005, we had a baby and our subsequent medical bills were much higher than we had anticipated. Because of this, we got behind on some of our bills. We called Wells Fargo Home Mortgage in August of 2005 in order to work out a payment plan to get caught up on our mortgage.
Wells Fargo Home Mortgage was very good about working with us to set up an adjusted payment plan that worked for us. We agreed to do a loan modification, in which we would make an adjusted payment for September, October, and November of 2005, and then in December, Wells Fargo Home Mortgage would take the remaining balance due plus fees, etc., and add them back into the loan.
We would then have a new monthly payment based on the new mortgage loan balance. We were told by a number of Customer Service Specialists, that in December, we would not physically be making a payment. That was the month the modification would be done and finalized, and then in January, we would start making normal payments again based on the results of the modification. We asked if we could make just the normal payment that we had been making for December, and they said no, that we should not.
We called at the end of December 2005 to find out what our payments would be starting in January. We were told then that the modification had not been finalized yet, and that we actually probably would not have a payment until February, because the modification process takes some time.
Approximately a week later, we received a letter in the mail from Wells Fargo Home Mortgage stating that our request for modification had been denied because, while on the modification, we missed a payment. However, we had not missed a payment, nor were we ever late with a payment, so we called Wells Fargo Home Mortgage.
The Customer Service Specialist who we talked to confirmed for us that we had not missed a payment and said that the letter we received must have been a mistake. He informed us to ignore the letter, as it was a mistake and we should never have received it. At this point, we were still under the impression that the Wells Fargo Home Mortgage Customer Service Specialists knew what they were talking about, since this was their job, so we took his advice.
We thought everything was going fine, and we were calling every couple of weeks to find out the progress of our modification. Each time we called, we received the same answer; the modification had not yet been finalized, but when it was, we would receive a letter from Wells Fargo Home Mortgage in the mail letting us know the results, new payment, etc. Nothing more was ever said about missing a payment or about the modification being denied.
Then in February 2006, we were served with foreclosure papers. Of course we called to find out what was going on and were told that Wells Fargo Home Mortgage had sent the mortgage into foreclosure because we had missed so many consecutive payments. However, we had only missed the payments because they told us not to make them. It took a few weeks, but this was cleared up.
Wells Fargo Home Mortgage then quickly re-did the modification and, in March 2006, we received a letter stating that it was finished and what our new monthly payment would be. However, we were told that this would be our payment only until everything was finalized and we started receiving statements again. At that time, we would probably have a new payment as per the monthly statement.
In May 2006, two months later, we still had not received a statement, so we called and were told that because of paperwork and such, the process takes time, but we should expect to have one within the next month or so. In July 2006, another two months later, we still had not received a statement for our mortgage account, so we called again and were given the exact same answer.
At this point, realizing that we were getting nowhere by calling, we started writing a short note and mailing it with our payments each month. I sent these short notes with our payments, so I know that Wells Fargo Home Mortgage received them, because they received our checks every month and cashed them. I sent these notes with our payments for six months without a single response from Wells Fargo Home Mortgage. However, we were still under the impression that everything was okay with our account, because we had never heard anything from Wells Fargo Home Mortgage to the contrary, and also because we were making our monthly payments on time every month.
In February 2007, we were looking for a new home and wanted to get pre-approved for a new mortgage. It was at this time that we were informed that our Wells Fargo Home Mortgage account was past due. We then called Wells Fargo Home Mortgage to find out what was going on, because we had made every payment on time, and as far as we knew, our account was in good standing. The Customer Service Specialist who we talked to said that the modification on our account had never been finalized, and she proceeded to do that for us.
Now, what we do not understand is how our account was never finalized, especially after we had been in phone contact inquiring about our account at least two times after we were told that it was finalized and had sent at least six written inquiries about our account. We were also informed at this time, in February 2007, that in December 2006, our monthly payments had gone up. However, because we had never received statements for our account, we never were informed of this raise and, hence, did not know to make the higher payment.
However, we were still paying the original amount that we were told to make in March 2006 when we were told, erroneously, that our modification was complete. Even though this was definitely due error on the part of Wells Fargo Home Mortgage, we paid all of the late fees to get our mortgage caught back up in February 2007, because we did not want to have to go through this whole process again.
So, since March 2006, we have made every payment on time, but, according to our credit report, Wells Fargo has not reported a payment since August 2006, and according to our credit report, that payment was 120 days late, which it was not. Our credit report also says that our February 2007 payment was 150 days late, according to Wells Fargo, which it was not.
In fact, we have not made a late payment since our modification was complete (or so we thought) in March 2006! I also have a statement that Wells Fargo sent me, showing every single payment made in the last year, and they are still saying we that they are correctly reporting to the credit agencies!
Be assured, I will never do business with Wells Fargo again!
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