On February 6, 2010 I received a letter from Wells Fargo denying my husband and I the opportunity to modify our mortgage under the HAMP program. Both of us had been unemployed from 10/2007 till I found work 7/2009. My hsuband is still unemployed. We live in a rural underserved area. We now have sufficient income to move forward but do not have the extra needed to catch up our mortgage.
We entered a 3 month trial period with Wells Fargo September 3, 2009 with a first payment due October 1, 2009. We made these payments in a timely fashion. Around the middle of December I placed a call to Wells Fargo to check the status of the process. I was told the December payment was late and we had been removed from consideration. I told the woman I spoke to that I had a confirmation number from my bank showing a payment was authorized November 30, 2009 in the amount of $1,044 confirmation number 0911300308. She explained that the bank had not sent this as an electronic transfer but had mailed it. She told me that she would document to file and that this should not be a problem as we had made the attempt to pay on time. I called Union Trust bank and was told that the reason they sent the check by mail was because it was a different address then the one we had been using prior to the trial period.
I called a week later and was told that our account was "good to go" and that it was being reviewed by the loan processor. I called right after Christmas as was told that no decision had been made as the unit was backlogged and we should continue to pay the modified amount. On February 2, I called again and was told that the account was still under review, I made the payment by draft over the telephone at the same time.
I have attached a copy of the hardship memo we submitted to Wells Fargo as part of the modification application. We have made a good faith effort to comply with Wells Fargo's terms. It is disturbing that we seldom spoke to the same person twice and have been given conflicting information by the staff.
On February 9, 2010 we filed a complaint with the Federal trade Commission, Maine Office of Consumer Affairs, Consumer Credit Protection, and the Controller of the Currency.
On February 11, 2010 we received a letter from Wells Fargo again, offering modification. I called the number and was told by Holly Torkker(sp?) ID # U9W that she was to pre-qualify us for a modification despite the letter from Ben Windhurst dated February 6. I re-sent all the information that she requested.
On February 17, 2010 I called to verify the faxed documents were received and was told that they had been received.
On February 18 we received a Foreclosure notice from Wells Fargo.
On February 20, 2010 - 0945hrs, I called Wells Fargo and was told by Donna ID # E64 that since we are pre qualified for the modification program we "should disregard the foreclosure notice".
Once again we are receiving conflicting information from Wells Fargo as we make every human attempt to modify this loan.
We have been paying the adjusted mortgage in a timely fashion and I feel that we have jumped through enough hoops for Wells Fargo to make a decision. Because we thought that Wells Fargo was acting in good faith and our loan would be modified, we cashed in an annuity and settled our credit card debt thinking that this would make us more attractive to Wells Fargo for the modification. If we go into foreclosure for the $4736 we are in arrears - we do not have the funds to catch this up without help. This has been a very stressful process. I have sent a request to Senator Olympia Snow to review this matter. It is clear that Wells Fargo is paying lip service to the intent of TARP and has no intention of delivering on the expectations of "we the people" who bailed them out when they needed help.
I am also wondering if I can beg borrow or steal the funds if the funds can be paid into an escrow account (like one can do if a landlord does not make repairs) until Wells Fargo actually reviews the paperwork.
It is also interesting that Wells Fargo is not working 24/7 to meet the demands of its consumers in jeopardy and have hired such marginal employees to deal with this situation.
Review about: Wells Fargo Mortgage.