Wells Fargo Home Loans Complaint

Wells Fargo Loan Modification Scam - Home Loan

- California - Fort Mill, South Carolina
I am writing to get the story out regarding the systematic predatory practices of Wells Fargo Home Mortgage. My story has been confirmed by others like me, as I am finding on the internet.

I live in a single family home in Oceanside that I have owned since 2002. The end of last year, I had financial difficulty and started falling behind in my payments. This is when the economy took a serious downturn. I had a home loan that had some back property taxes being put into my monthly payment. This made my payment close to the maximum I could afford.

At that point I called Wells Fargo to see about a modification of my loan. I provided all my monthly information including all expenses and incomes and was told that I qualified for a modification and was quoted a new monthly payment that was within my budget. This modification did not include any reduction in principle, it was just a new 30 year loan with my back taxes rolled into the loan.

That is when my hell started. Since that point in October, I have been in a constant back and forth, bait and switch situation. There are many details that I have, including all the dates that I called (Ive called over 100 times), but I will just provide a summary here. From the beginning days, I was told NOT to make a payment as this would stop the modification process. As time when on, I even tried to send in payments and they were returned to me. I was at one point in their modification process, then removed from the process for not having all the documents. Then I started the process all over again, only to wait and wait and wait. Each time I call, I get different information, and I have never been allowed to talk to the actual agent assigned to my case. Now, I can't make any payments and my home is set to be sold in about 2 weeks. I have always been able to make a payment almost equal to my full payment, but now I owe over $24K, not to mention all the fees that have been added to my account by the foreclosure company.

Yesterday I received a letter on my door that my home will be sold on June 11, 2009 unless I come up with the $24K+ plus that has accumulated. I called Wells Fargo today was told that they may not come up with a response back to me until the day of the sale. Obviously, that would not give me time to pay to keep my house from being sold from under my feet and have me and my family thrown out.

I have lost sleep and am suffering from the stress of this situation on a daily basis. No one at Wells Fargo will tell me what is going on, no matter how many people I go to. I can only assume by the way I was brought into this process and then kept in the process with no other options, that Wells Fargo has put into practice an illegal practice of dealing with customers in this fashion.

I desperately need help and I think the media has an obligation to report this.. Wells Fargo led me down this path by telling me not to pay, and now I am possibly going to lose my home, and I have no way to get them to work with me. Where is the responsibility on Wells Fargo after receiving $25B in bailout tax dollars??

Here is a list of web sites where you can find similar stories to mine. These stories are almost exactly the same as mine. I was told the same lies by Wells Fargo as these people report.

http://www.ripoffreport.com/reports/0/245/RipOff0245352.htm
http://www.ripoffreport.com/reports/0/452/RipOff0452471.htm
http://www.ripoffreport.com/reports/0/445/RipOff0445599.htm
http://www.ripoffreport.com/reports/0/453/RipOff0453531.htm

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Reader Comments:

Posted by hctamayo on 07/15/2009
sorry too hear that i understand my husband and i are going through the same thing they also made arrangements with us and defaulted on agreement.We need too do something we just let them get away with it maybe we should get the media involved!

Posted by cb31188 on 08/09/2009
I have had the exact same thing happening to me with Wells Fargo since I submitted all the paper work in March 2009> I call and call and all I am ever told is that the only thing left to do is a "drive by"!!!! What the heck is that?

My case fits all the criteria and I have even had my property taxes defrayed due to my age, and they have not even adjusted my payment removing property taxes. I have stage 4 cancer and this worry is taking a toll on my already fragile health. I am told by one person bring payments up to date (1 1/2 mo late)and the next just ignore the letters and phone calls they are all "computer generated). I have my house on market to sell because of this but the economy is so poor that isn't happening.


Posted by w_wino on 09/30/2009
Except for continuing to pay our monthly bill my story is exactly as told here I started the process in Oct 08 and am back to square one resubmitting all of the information. I've submitted this information again and again during the year with a continually minor change as to what is being asked each time I talk with them. They have obviously not had any intent of modifying this loan. Our situation is not as dire as others though and we can continue to pay the note without getting behind. It's just that we have little left over.
If I ever get the ability to impact Wells Fargo's bottom line you can bet I will. Pay backs are hell. We have more political power than they think.
We need to make this a country again, of the people, by the people and for the people. We just need to get some cooperation from some company employees that have knowledge of their illegal and deceptive practices that are being directed from the top down.


Posted by nateschillings on 10/07/2009
My husband and I have gone thru the EXACT same thing. today we go to court to try to fight for our house... wells fargo actually did sell our house to freddie mac on july 7 2009 after putting us in foreclosure after telling us not to pay as well. in 4 hrs i will find out our fate...if we r homeless or not. if u do have the names and dates of the people u talked to at WF (unfortunately we do not) then u can make a formal complaint against wells fargo. I will get the # for u to call when my husband wakes up and post it for u. it did not help us bc we don't have all the info needed. but if u do i would love to see something done about this terrible thing they r doing to everyone!!!

Posted by js3142548 on 10/20/2009
This same thing happened to our friends. They lost their home. I hope homeowners are learning to never believe anything anyone from a lending institution tells them unless they receive this correspondence in writing. Seems each person says whatever they need to just to get you off the phone. I don't see how these people can sleep at night knowing they are throwing innocent people out on the street.

Posted by JenniferLhendrix on 12/29/2009
My husband and I have had the SAME nightmare. We left the home after foreclosure started since we did not want our 3 kids on the street and we did not know how this worked. We moved to a temporary home of a friend till we could get things worked out. After dealing with the same thing as everyone else here our home was sold at auction BUT supposedly no one bid on it so it went back to Wells Fargo who listed it for sale for over $70,000 less than what we owed. We are still fighting to get it back but keep getting told that since we do not live in the home right now we can not do anything. I guess they wanted us to wait till they kicked us out on the street. I wish everyone the best of luck however, it doesn't appear that we are going to get things done with this company.

Posted by chessterrifier on 03/10/2010
Wells is a r ogue bank. These bastds should be under the sword of govt agencies. Just gave up after One and half year of constantly calling and being given a run around. Will never deal with these greedy creeps.
I have gone through all the complaints listed in comments. This bank is a p arasites.


Posted by pfrancine00 on 03/15/2010
My story is exactly the same as the above! They also told me not to pay anything, only the trial period payments etc. We were only 2 months behind they made us 9 months behind! The rest of the story is almost exact as above but we kept our house by them telling us we should probably sign the new modification agreement so we don't lose our house and by the way we now pay almost $500 dollars a month more!!!! PLEASE GOD HELP US ALL GET TO THE ROOT OF EVIL IN THE COMPANY AND GET OUR MONTHLY PAYMENTS BACK DOWN!!!

Posted by peppert on 03/16/2010
I had the exact same thing happen with my loan modification with Wells Fargo. Was told after my trial period, that all was fine and I qualified and I should get my new loan in next bank contact...THEN ALL WENT BAD- THEY DENIED no one would back anything up in writing. Thy claimed: "because late paper work"- first they claimed late payment but i had all my info so they switched their story to late paper work- after they told me everything was in order. They immediately put me in default, and began collecting LATE fees, even before Iwas notified of my denial.
Horrid stressful, exthortion. Wells Fargo reported me to crediti B's, has taken away all my credit and is sinking me. PS - I was never, ever, late with a payment in 22 years and now they have riased my mortgage . I borrowed money from a family money to pay back the 3K they put me in arrears on.


Posted by chessterrifier on 04/12/2010
They gave me and my family a runaround for 15 months. Giving contradictory reasons. Endlessly asking people to fax papers. Wells Fargo is just a legalized fraud factory. I am done with this bank for good.

Posted by fluci26 on 04/19/2010
The same thing happened to my family, after waiting almost a year and many many sleepless nights, I don't know how many nights I cried myself to sleep, we finally got final loan modification from Wells Fargo, we recieved approximately $150.00 off our existing mortgage. I lost my job due to the economy which made it really difficult for my family to pay an almost $3000 dollar mortgage, so we fell behind in our payments. We were so excited about Obama's new plans to help people keep their homes and still be able to feed their children and pay bills. We jumped at the opportunity to save our home.

Our end result....back to square one, it's seems like we have been in a boxing match with WELLS FARGO and we are in the 13th round and they have us pinned to the ropes with no escape. It is not ending.

A person should never have to choose if to feed their children or make your mortgage payments on time. I feel extremely bad because I lost my job due to the declined economy and my family has to suffer so drastically from the lost of my income, especially when Obama passed laws to insure that these Banks work with the public to help them keep their homes. Does Obama know this is happening?

Please don't ever call them because you will get a different story from each representative you speak with, you don't know who to believe. It seems as though they have no idea of what they are doing.

I think Wells Fargo waited until the laws changed in Febuary to work on our file, which allowed them to exclude us from the initial low interest rates that was in effect. We were working on this loan modification way longer than needed for these results. Hey... then they gave us a week to sign and return the documents to them.

We as consumers have to make a stand, if not we will get foreclosure signs on our lawns and no where for our children to go.


Posted by bnddocos on 07/16/2010
thank god my wife found this site i just was told the same thing they want to take my house for 21,000 that they told me not to pay i tried calling andrew ciumo the atty general and cant6 even leave a message for him but i bet hell be looking for my vote soon .does anybody know if there is a law suit filed on this yet i spoke to a pres of a local bank and she advised me to call all the t.v. and radio stations about this she also said to obtain a lawyer because once it is filed they cannot move on us please if anybody can help want to join forces please e-mail me we cant let them do this we need to fight and all of us as a whole are a bigger voice my heart goes out to all who are going through this my e-mail for all responding is dooks152@yahoo.com

Posted by lady.rushing on 07/26/2010
Same thing happened to my parents. We had an attorney handling the modification with wells fargo. We kept sending in the requested financial info and paycheck stubs. In the beginning of April 2010 we received a letter that a packet was coming and to fill it out and return. Our attorney called wells fargo for the status of the packet and they said the letter was a mistake and the mortgage is still under review. Our attorney called every few days and kept getting the same response. Well, April 22 there was a knock at the door from an investment company who said they bought the house on April 21 at auction and for us to stay in the house it will be $3000 a month. We called our attorney immediately who in turn called wells fargo and they said my parents did not qualify because they did not send in the packet. They foreclosed on April 20th. To add insult, we received a letter from wells fargo on April 23 saying we may qualify for another programs and to contact them immediately. How can they send it to foreclosure and have it sold the very next day?? We now have a lawsuit pending here in Las Vegas against wells fargo and a restraining order to keep the investment property from removing us from the home pending the results of the lawsuit since they filed a suit against my parents for unlawful detainer because we refuse to move.

Posted by thompson2616 on 07/27/2010
lets get together a class action law suit.

Posted by shnecky on 08/03/2010
A very similar thing happened to me except i had a lady helping me who was less than nice and basically told me how to qualify for the modification. The modification finally went through and they lowered my payment by $4.00 per month!!!!!!! If i am having a hard time paying $1200 per month what makes them think that i could pay $1196 per month. I would be willing to join together and file a lawsuit against them. Anybody else on board let me know!!

Posted by acornish70 on 09/29/2010
I am a victim of Wells Fargo’s Loan Modification scam (HAMP)

September 27th, 2010:
In the summer of 2006 I was approved for an adjustable rate mortgage by Wells Fargo in order to build a home for myself and two children. My payments were very affordable until 2008 when an increase of over $800 a month put my monthly payment at over $1800 a month. I struggled but was able to make my payments until I suffered the loss of a job and a change in my salary in December of 2008.
I continued to struggle each month until June of 2009 when I was made aware of the government program called HAMP (Home Affordable Modification Program). I contacted Wells Fargo inquiring about the program. Wells Fargo informed me that after going over my financial situation over the phone with them, that I would indeed qualify for the program and that I would receive a packet via FedEx in a couple days to fill out and send back in. The packet finally arrived August 16th and I took great effort to fill out each form and gather copies of the required information. I returned the signed forms and packet containing all of my information within 1 day of receiving it. I contacted Wells Fargo a few days later to verify that they received my packet and they confirmed that they had my information and would be reviewing it. I was assured that I would hear back from them within 30 days and not to make any further payments until it was determined what exactly my trial period payment were to be. I did not hear from them within the 30 days, and began calling to find out what was taking so long. I was told that their department had thousands of applicants and that it may take a little longer. Again, I was also told not to make a payment yet and was assured that very soon I would receive that information in the form of a FedEx package. Two months went by.
I finally received the package 10-26-09 and was given a “Welcome to the program” letter with contract and an outline of the three trial period payments of $691.86 with the first one being due 12-01-09 (over a month away). I called Wells Fargo and immediately set up the three payments via personal check predated for several days before each due date. I wanted to make sure the payment reached them before the actual due date to show my intentions of good faith.
The first payment was made 11-28-09, the second 12-28-09 and the third 01-28-10. I then anticipated hearing back or receiving some paperwork shortly after the last payment was made. I called a couple of days later to inquire about the steps being complete and what I should do next. I was told that it would again take up to 30 days to be reviewed and completed and that I should receive the same contract back via FedEx signed by them. When asked what to do regarding a monthly payment in the mean time, I was again told not to make any payments until the packet arrived. I received the packet containing the signed contract, via FedEx, on my door step in March 2010. The contract was signed by Wells Fargo 03-04-10. I called to inquire what the next step would be and was told that I would be receiving another packet via FedEx containing paperwork regarding the re-modification, making it permanent. I was told this could take up to 30 days and that my new payments would begin as soon as I received the paperwork.

April 19th I received a letter from Wells Fargo dated April 14th, stating that unfortunately I was not approved for the Home Affordable Modification Program because I failed to make my three trial period payments. I was so upset and confused because clearly I had made each and every one of those payments. In fact I made them early! I called at 7:35pm and spoke to Jonathan regarding the letter. He confirmed that I made each payment, and said that the letter was sent out in error. He was as confused as I was regarding the error, and stated that in fact a “New Trail Period Letter” was sent out automatically on April 15th, just after the erroneous “denial letter” was sent to me by mistake. He assured me that he was entering the notes from my call into the system and that it would be forwarded to his supervisor for correction. He asked me to wait a couple business days to call back so that it could be straightened out.
I called 04-21-10 and spoke to Breanna and seemed to have to re-explain each and every detail of the past ten months of beginning the program. She put me on hold for 45 minutes while she spoke to her supervisor and assured me that she was sending an email to correct the situation and have the “Second Trial Period” removed from my account. She instructed me to give the email some time to get to the correct department and call back in 3 days. In the mean time I received the “Second Trial Period” packet via FedEx. I again called back and asked to speak to a supervisor regarding the confusion. I was told that no one had yet responded to the email requesting help to remove the “Second Trial Period” and the women stated that she was not sure who to send another email to, or who was even working on my case. After an hour on the phone she stated that the only way to get back into the program was to start over and fill out the new packet that had just arrived. I explained that I had done nothing wrong and that I had received the signed contract back from Wells Fargo completing my portion of the program. She offered no help and again told me that I would have to start over and apply to the program for the second time. It was Wells Fargo that had dropped the ball, and I was falling through the cracks!
Feeling helpless, and scared of losing my home, I completed the second packet and again called and set up three trial period payments several days ahead of their due dates just like the first time. The worst part about the second trial period was that my monthly payment had DOUBLED! The first time my payment was $691, this time the payments were increased to $1,224! Feeling absolutely helpless I dug in and waiting to complete the process for the second time. The first payment (this time) was made 05-28-10. Two weeks later out of the blue a Wells Fargo debt collections rep called me to collect a payment of over $11,000 (late fee’s and unpaid mortgage payments). All along I found out that Wells Fargo had been reporting that I was not making payments and adding interest and penalties to my balance. I was in shock! I explained to the rep that I was in the HAMP program and that my first trial period payment (of the second program that I had been placed in) had been taken out of my bank account just two weeks prior. She put me on hold for 20 minutes and came back on the phone to inform me that according to the notes in the system, I had called to remove myself from the program!!! In fact the words she used were that I “requested to be removed from the HAMP program.” I was again in total shock that I was being told something so “out of left field.” I explained that I would never do that and it must have been a mistake on their part. I demanded to speak to a supervisor! I was told that Wells Fargo would have to “pull the actual call” and it would take 15-30 days for them to do that. I told them that this was illegal and that in no way shape or form would I have ever removed myself from any program that was going to help me keep my home and everything that I had worked so hard for. I threatened to call a lawyer and report them for this action.
The supervisor replied to me, screaming at the top of her lungs, that I was no longer in the program, it would take too long to pull the call and I could be placed in foreclosure! She demanded the only way to get back into the program as soon as possible was to start over the entire process again! Feeling completely helpless and defeated I once again was sent a package via FedEx to complete the process all over again.
It’s now June 2010. I spoke to Customer service rep Stacie and was told to make my regular monthly payment of $1,295.92, which I have a confirmation number for. She told me to re-fax all of my information to the loss mitigation department and call 2 hours after to verify that they received the information. I did exactly what they asked and began the HAMP process for the third time. I was assigned a loan servicer whose name was Armondo Lopez.
I spoke to Armondo who told me that all of my paperwork needed to be sent in like clockwork every 30 days to maintain my status in the program, and to call at least once a week to check on the status of my approval. I called each week and continued to re-fax my paperwork, signed and dated every 30 days. Armondo called and informed me that in fact I was not accepted into the HAMP program due to my ratio of debt being 21% instead of the required 31%. He stated that I would be reviewed for “in house” programs. He encouraged me to continue to call each week and keep my information faxed in every 30 days. In the mean time, I continued to pay the $1,295.92 mortgage payments for July and August.
09-23-10 I phoned Wells Fargo and during the identity verification process the customer service rep informed me that my home was in foreclosure with a sale date of November 4th.
09-28-10 I received a letter in the mail from Wells Fargo’s law firm stating that they were moving forward with the foreclosure process of my home, setting a sale date of November 2nd, despite the fact that my case is still officially under review with Wells Fargo. In the same letter, they informed me that we may qualify for their home re-modification program… the same one I’ve been applying to for the past 15 months.
From the beginning, I did everything Wells Fargo asked me to do. I never gave up, never withdrew and was on time with each and every application, contract and payment to Wells Fargo. Yet, I am currently in the process of losing my home.


Posted by jesse.0324 on 09/30/2010
Wells Fargo did a modification on my loan. However they took 3 months tacked them to the back of my loan and that was it. they didn't touch the interest. If I couldn't afford it before what would make them think by taking 3 months and tacking it the the end of my loan would help me. Wells Fargo is not interested in helping people just getting the most out of them before they take their homes! The sad reality is the government isn't doing anything about it!

Posted by dounto1 on 10/04/2010
Hello,
I have gone through the exact WF drama, but I took a stand. I did everything they asked me to do but it didn't matter. They made their threats to me so I took action. I had my governor, the attorney general, and the commisioner of banks send letters to them. It took all that for them to finally get some sense. I wanna help everyone. Also, Acornish70, please contact me immediately, since you have less than a month before your home is sold. We all work TOO hard for our money to put up with corrupt corporations. Let's get 'em. Contact me at dounto1@yahoo.com. Put CORRUPT in the subject line. Thanks!


Posted by angelapelham on 10/12/2010
I received my approved "Loan Modification" from Wells Fargo in July and was very excited to see the payment drop almost $300. I sent in my $2000 good faith payment, I signed all the paperwork and I overnighted them back to Wells. I happily started making my new mortgage payments. Each month when I called to make my payment I informed the agent on the phone that I had yet to receive my new statement in the mail. They always told me "just to wait because sometimes it takes them months to get the paperwork together... and ... to just continue to make my mortgage payments" so I did. I even asked if there was some kind of problem and asked if I had missed some fine print and owed anything else. I was reassured that I did not owe anything and I was completely current. On 10-9-10 I received a letter dated 9-28-10 telling me that due to a failed payment in the "trial period" I had been denied the modification and the only options left to me were a short sale or a deed in lieu of foreclosure. As the 9th was a Saturday, I called on Monday, 10-11-10 to find out what they were talking about as all my payments were made on time and I was current. Additionally, I was unaware of any "trial period" and there was nothing to that effect indicated on my modification paperwork.
When I called on 10-11-10 I was rudely informed that my house had been foreclosed on and sold on 10-7-10!!! Aside from being completely shocked I was beyond confused. I then spoke with the following Wells Fargo departments: Loss Mitigation, Liquidation, Foreclosure, and their Law Department who all informed me that it was perfectly fine that they foreclosed on my house without warning or notification. When I asked if they had notified the VA, I was told they didn't have to. Um, yes you do... but they didn't. I was told I qualified for "Redemption" aka a 6 month period in which I was to list the house for a short sale and that even though the letter they sent me referenced the Deed in Lieu of Foreclosure I was inelligible for that because I had to apply for that 60 days before my foreclosure date. When I heatedly asked how the hell I was supposed to do that when I hadn't been notified of the foreclosure date I was informed it was a "stock letter" and asked if I wanted to hear about the short sale option or move out immediately. When I finally got to the lawyer I was informed I could contest the foreclosure in writing but they hadn't done anything wrong as I was notified of the foreclosure in July and it had only been put in "adjournment" until September. I informed the lawyer I was unaware of the adjournment and asked how I was supposed to know that. She had no answer for me... So now, I will do my due diligence and file the complaint with the attorney general, I will contact the VA, I will contest the foreclosure but I am pretty sure its a dead end. I cannot help but feel that this was Wells Fargo's way of milking another $6000 out of me before dropping the axe. It should also be noted that they lady in the foreclosure department said to me with amazement in her voice "well it says that you made all your payments but they just didn't think you would be able to meet the requirements". WHAT?!? I believe that they never had any intention of honoring my modification and I am more than a little upset as I have been paying on this house for 10 years. It should also be noted that the letter I received on 10-9-10 they dated 9-28-10, the last time I checked it doesn't take 11 days for a letter to arrive in Michigan if it was mailed from China much less Iowa...its usually a 3 day process which leads me to believe they mailed it the day my house was foreclosed on. The end result is this: I have 6 months to short sale my house to get a foreclosure off my credit report (which probably isn't going to happen because nothing is selling out here), find a new house and move. Unbelievable.


Posted by mnd_construction on 11/22/2010
Wells Fargo is full of gutless, non-human, evil s.o.b's. I hope they get what they deserve soon. I understand if someone is in over their head and sadly loses their house my heart goes out to them, but these evil s.o.b's are taking houses from people who have showed they are able and committed to making their payments. Pray for an end to their gutless, evil practices. I am not one for violence, but this is the closest I have come to taking physical action. The only way to deal with evil is eliminate it. WF please come to your senses before more drastic measures are needed to remedy this situation.

Posted by bmr1970 on 12/31/2010
Contact Harwood Feffer LLP at 877-935-7400. Class action suit has already been filed. Please got to hfesq.com, follow the link labelled "America's Servicing Company ("ASC")

Posted by rollingc4 on 04/12/2011
we had the same thing happen to us...got approved for the modification and a month later wells fargo sold our mortgage to freddie mac and without us knowing...and continue to accept $1630 a month for 2 years...and now we are out of our home of 11 years...we had to vacate...didnt even have a month notice...we want our house and money back....they are worthless...

Posted by carolynd47 on 10/14/2011
Please write to the Attorney Generals office of your state the more complaints the better, they are very difficult to deal with I am there also...they promise you the rainbow without faith..Take it to the AG Office..

Posted by flight2727 on 10/20/2011
Hi Karrie, I am having similar problems with WF. I would appreciate the email addresses of the executives you contacted. I know this is a pain. but I need help.




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