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WELLS FARGO, dba,

AMERICAS SERVICING COMPANY

TURNING THE AMERICAN DREAM INTO

A NATIONWIDE NIGHTMARE

In November 2007, Wells Fargo d.b.a. American Servicing Company (ASC) decided to escrow on my mortgage loan. For no reason. My taxes and insurance were always paid on time. They’d never escrowed before. Then, instead of paying my annual property taxes once, they paid them twice. And I had already paid them. Then they pre-paid my property taxes that weren’t due for another year. I’d never had an escrow account with them, so usually the balance was zero. Now it was -$5500.00. My mortgage payment increased from $655 to $1446 a month. I can’t pay it.

Wells Fargo admits their error. They promise to fix it. Then they don’t. Again they promise to fix it AND reverse all the late charges. Doesn’t happen. No one corrects the original mistake so the snowball effect is creating havoc with my mortgage, with my credit, and on my life.

ASC Phone calls and letters threatening foreclosure were relentless. I have spent hours on the phone trying to resolve the problem. So many ASC Customer Service agents promise all your problems are taken care of, rest assured. When you check the next day to confirm all is well (you’ve learned to check) they can't even find a note in the record that you ever called. So then I am forced to start the process to correct my loan all over again with a different agent (weird isn't it that you can never get the same agent because they don't have extensions, and they refuse to give you their last name. They will give you their three-letter employee ID code that has never helped me a bit. Many agents refused to give me the company’s physical address when I wanted to talk with someone face to face. Over this six-month nightmare I was assured over and over and over, that yes, definitely this time, they had truly made the corrections I had been assured already been made. Yes, isn’t it wonderful, my mortgage loan had been approved for loan modification and the loan I’d been told dozens of time had been reinstated, had really for sure this time been reinstated. I was always told I would receive a letter confirming all was well with my loan. I was told not to make any monthly payments on the loan because until the correction had been processed through their system, the payment would be considered a partial payment and would be returned to me. So in February and March I couldn’t send in a payment because the monthly payment amount was never corrected. I was forced over and over again to start the agonizing process from square one with another agent. Most agents couldn’t find any notes in my record. I had the brilliant idea that faxing the whole story, along with receipts, and other requested forms, would be the answer to our communication problem. I would finally receive a letter confirming receipt of the requested documents. Four days later I’m told my documents were never received so my home is in foreclosure.

On April 23 I was emergency admitted into River Oaks Mental Hospital for 10 weeks due to a complete emotional breakdown. I was suicidal and unable to care for myself. Wells Fargo Mortgage made a mistake, and acknowledged it. However, they were unable (or unwilling) to fix the problems their error created. My sister was given power of attorney so she could resolve the issue. Upon discharge from the hospital an ASC agent confirmed my loan had been fully reinstated, the payment had been corrected, the escrow balance adjusted. They promised the late charges and additional interest charged because of their error would be credited back to the account. I insisted and they agreed they would contact the credit agencies to report their mistake, remove all negative remarks, and change all comments they had made regarding my mortgage account to “paid as agreed.”

My home was my savings account. And it was my retirement account. More important, it was my security blanket.

In 1990, WATERFIELD MORTGAGE CORPORATION honored me by approving my request for a mortgage loan. It’s difficult to comprehend how truly good something is until you experience something bad. I miss Waterfield Mortgage with all my heart.

I know help is coming soon for families facing foreclosure. God Bless anyone who helps someone keep his or her home.

Kelly L. Hansen

Overland Park, KS

Ctsmyhon@yahoo.com

Review about: Wells Fargo Mortgage.

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Anonymous
#56092

A lot of people considered their home (and what used to be) their acquity as their saving and retirement investment. Why would you question that Caveat Emptor?

After all, for MOST people that is the biggest investment they ever make.

Unfortunately, now that home prices have nose dived, many people have a big liability (their home) instead of a live in nest egg.

Anonymous
Roslindale, Massachusetts, United States #10587

You had me up until the end. Your house was your savings and retirement? That kind of shot your credibility to heck.

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