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Report: #534071

Complaint Review: Wells Fargo Bank - Wells Fargo Home Mortgage - Fort Mill, South Carolina 29715 Internet

  • Submitted:
  • Updated:
  • Reported By: Sparky — Summerville South Carolina United States of America
  • Wells Fargo Bank - Wells Fargo Home Mortgage 3476 Stateview Boulevard, Internet United States of America

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In July 2008, my husband had a reduction in pay. He was told no more overtime, and they asked him to furlough days.  We had always made a house payment but we had accumulated late fees.  I asked Wells Fargo if they could help us get caught up. What a mistake.  They came back in Sept. 2008 and told us to make four payments in Nov., Dec., and Jan., and then in Feb they would modify our loan. Well we made all payments on time just like they asked and in Feb. they notified us that we did not qualify.  So they were going to give us a until August to get our finances start. I told them in Feb. that we would not have money to pay them in August.  They told us to take that time and gain more employment, or make arrangements. 


In July I sent in all paperwork and was told that we were throw out of the loan modification program because I did not return a phone call within 24 hours.  I have caller ID there was no phone call.  So we were told we could go back into the process but we needed to provide proper paperwork. We faxed, mailed, faxed, and mailed and called on a daily basis only to be told they did not have our paperwork.  And everytime you call you have to tell your whole story over again because no one knows what anyone is doing.  During this time, I was told not to make a payment.  I was told that if I mailed money it would go into a different pot and not towards my mortgage.  I begged for help. It is not like I don't want to stay in my home. I was asking them to help me stay in my home. They could care less. One person says one thing and one person says something else.  I have  hired a mediator, and met with the head of the mortgage dept at my local Wells Fargo bank.  No one can  help me. Actually the man at the bank, said he hates his job.  He said he can't help anyone. He didn't even have any contacts to call. He had to go through the same process I have to go through when we called for assistance. 


In Oct. 2009, my 15 year old daughter was served with foreclosure paperwork as she walked out the door to go to school.  How wonderful of a day that was trying to explain to my daughter that we may not have a place to live.


We are now back in the loan modification process now,  and we are just waiting.  We are not allowed to speak to the mediator.  I call every other day to find out nothing. It is a waiting process.  I guess Christmas may be spent packing our stuff.  If someone would just help us.  We have a VA loan, and do not qualify for any assistance but you would think someone, something would help a veteran.  This is so crazy. And yes we do have equity in our  home. The longer they drag their feet, the more behind we get.

This report was posted on Ripoff Report on 12/04/2009 06:07 PM and is a permanent record located here: https://www.ripoffreport.com/reports/wells-fargo-bank-wells-fargo-home-mortgage/internet/wells-fargo-bank-wells-fargo-home-mortgage-complete-run-around-causing-major-stress-he-534071. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
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0Employee/Owner

#5 Consumer Comment

Well Fargo HAMP and Hope NOW

AUTHOR: Mike - (U.S.A.)

POSTED: Friday, January 01, 2010

Good on you. Wells Fargo is making money using the HAMP program to generate Profits. It is a money making scheme for Wells Fargo, utilizing HOPE NOW as a "good cop, bad cop". Both HOPE NOW and Wells Fargo are working together to capitalize on the mortgage crisis to drain the assets of everyone. Remember, they are in the business of making money off of other peoples money. They string you out, write phony letter, blow smoke up your behind, and laugh at you.

Never forget, the BANK FRAUD created this problem with 40 million mortgages, about 25% of those are headed to foreclosure. Well Fargo conducts itself from a stand of being immoral for the sake of money. They might as well be the Mafia.

Call Congressman Conyers, get on TV, let everyone know that the HAMP program is a farce and only a money maker for the banks.

They even control the appraisals of property to escalate the foreclosure process. In one year, I watched a newly builit home, appraised a year after Wells Fargo accepted an appraisal for a construction loan completion and dropped the value by 35% to manufactured home square foot value. In 12 months, the banks have directed appraisers to error on super conservative which prevents people from re-financing at the lower rates.

Banks like Wells Fargo are not friends or advocates of the American People.

 

 

 

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#4 Author of original report

Response

AUTHOR: Sparky - (United States of America)

POSTED: Wednesday, December 09, 2009

I have contacted my local Congressmen and I have been told that they recieve 5 to 6 calls a day regarding things like this. I think that someone should take on all our cases and file a lawsuit against the mortgage company. I had a good deal of equity in my home but it is being eaten up by Wells Fargo who continues to drag their feet in this loan modification process. There are thousands of us who feel like we have our hands tied and don't know where to go. I am going up the line until I get an answer. I called yesterday and was told by Abby (???) that I should of heard something by now so she was filing a GEM (???) to speed up the process. OH thank you so much.  Maybe they should of filed a GEM almost a year ago.  I will continue to fight this battle until I get an answer. If I need to go on television to explain what we all are up against, I will.


 

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#3 Consumer Comment

Naca.com

AUTHOR: Leo - (United States of America)

POSTED: Wednesday, December 09, 2009
Try logging on to naca.com they are a company which specializes in helping people who are in trouble with their mortgages... 
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#2 Consumer Comment

Wells Fargo Home Mortgage did the same thing to me and my family!!

AUTHOR: HomeOwner55 - (USA)

POSTED: Wednesday, December 09, 2009
Hello,

Wells Fargo did the same thing to me!!
My wife and I purchased a home in February of  2007 with Market Street Mortgage as our lender. About six months later we were sent a letter in the mail notifying us that Market Street Mortgage was going out of business and that our loan would be transferred to Wells Fargo Home Mortgage. In January of 2008 my wife was laid off from her job and we started to get behind on our mortgage payments. We contacted Wells Fargo Home Mortgage for assistance and they told us we were eligible for a loan modification program. The modification program required us to make four consecutive payments at an escalated rate from that of our normal monthly payments, to show that we were able to make adjusted payments on time. We were told that once the fourth payment was made that we were to stop all payments on the account and wait for the account to be sent to a Wells Fargo  negotiator who would then draft a modified loan. This modification would consist of adding the past due amount of the current loan to the back of the new modified loan, and require us to begin making payments on a new modified loan. It took four months for Wells Fargo to reach a decision on our loan modification. This means four months of not making a payment at the instruction of our lender. We were told by Wells Fargo four months later that we were denied a loan modification because we did not make the last payment in a timely fashion. We were told to reapply for a loan modification and to start the process over from square one. The reason they provided to us for denying our loan was a flat out lie, and a sign of things to come from this fraudulent lender.

So we applied for another modification plan and this time agreed to pay an even higher escalated rate of four consecutive payments because our past due amount had risen. Remember we were told by Wells Fargo to stop payments for four months. So we begin paying another four consecutive payments and fulfill this agreement on time. We called and spoke to a Wells Fargo associate who informed us that they had received our final payment on time and that we should be hearing back from them within three weeks on what the terms of the new modified load would entail. They instructed us to stop payments once again until the new loan was drafted and agreed to. Two months had passed and we hadnt heard anything from Wells Fargo so we contacted them. We were told that our loan modification was denied agian. This time we were told that the reason we were denied was because we never called them back to set up a modified loan. This was an outrageous claim rendered by Wells Fargo because all along we were told that they would contact us once the terms of the modification were complete. At no time were we told to contact Wells Fargo and request our file to be sent to a negotiator. We disputed this claim with several Wells Fargo associates but were simply told that we had to reapply for another loan modification.

We agreed to try the process one more time in hopes of simply gaining a modified loan so we could start making payments on our home. By this time our home was  $15,000 past due mainly because Wells Fargo had instructed us to stop making payments for eight out of the twenty months we were living in the house. We started the four consecutive payments process once again and reached the end fulfilling all obligations. We called Wells Fargo every week to confirm a decision on our modification but no answer was given. We were simply told to not make any more payments and that our file was being reviewed by a negotiator. Finally, after two months we were told by a Wells Fargo representative that we were APPROVED for a loan modification and that we should be receiving the new terms of the modified loan in the mail within 7-10 business days. After a month of not receiving the new loan agreement we contacted Wells Fargo and were told that the loan modification was denied because we allegedly had a second/junior lien on our home. This is another false accusation conjured up by Wells Fargo to prolong our loan modification process and increase the amount due on our loan. I am ready to take legal action against them because enough is enough. Please avoid Wells Fargo as a Home mortgage lender at all costs. They will make it seem like they are willing and able to help you when you need assistance, but do everything in their power to throw road blocks in your way. And you are correct about their customer representatives.. Noone gives the same answer! They all give conflicting information and each department sends conflicting letters in the mail.
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#1 Consumer Comment

What?

AUTHOR: Susan - (USA)

POSTED: Friday, December 04, 2009

You said "During this time, I was told not to make a payment.  I was told that if I mailed money it would go into a different pot and not towards my mortgage. "


What company were you really dealing with, not Wells Fargo.  Wells Fargo has our mortgage and we recently asked them for help because of medical bills.  We were told to always make our mortgage payment.  I laughed and said I know.


Plus common sense, list of bills goes #1 Food (stew goes for weeks), #2 Mortgage #3 Utilities (water, gas, electric).  We live in the cold north with gas heat, all three are required. We are behind on a lot of bills but no one will every be able to take our home away.


 

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