This letter is in reguards to one of the largest, top rated, home mortgage lenders, wells fargo, and their deceitful, false representation in dealing with home
loan modifications/ reductions.
President obama put together a $75b mortgage relief program, which provides incentives(money) to lenders that help qualifiying home owners on the verge of forclosure, the goal was to lower monthly mortgage payments to sustaniable levels, but the outcome has been that qualifying homeowners have been scamed and thrown into forclosure more than before.
The fact is that incompetant lenders are receieveing moneies before the
completion of this loan modicfication / reduction process. Homeowners are being
told in good faith "they qualifiy " and while in the process of completion ,
they are forclosed on ,
I know this first hand, I too was forclosed on without any explanation.
On 07-2010 wells fargo told me, I qualified for a loan reduction/modification
but I needed to pay 2300.00 For approval. I wired them 2300.00 That day.
08-2010 Wells fargo phoned me with some questions, they told me everything
was complete and approved . I told them that I would like to have my
monthly mortgage payment deducted out of bank account, they will mail me the
form.
11-2010 Received the form for debiting bank account, I phoned wells fargo with some
questions, and was told mortgage payment/debit would start 12-2010
then 4 months later( 3-24-2011 )i have a notice of trustee's sale, posted on my door
that my home is to be auctioned off on 4-13-2011.
What happened ????????
I phoned wells fargo and asked for some explanations, why didn't they mail
something?? Phone me?? Try to contact me?? They have all my correct information.
I asked for an amount that we owe them now ? So I could pay it. I was told
"its not in my file?" "So lets get the paper work started again" and I could ask
for a forclosure suspension, so we did. I was told to call back and check
on loan modification/reduction approval and the forclosure suspension.
I called daily, somteimes twice checking. Nothing had been posted.
4-06-2011 I telephoned wells fargo again, nothing was posted, I again asked
about a amount we could pay to stop the forclosure ?? And was told, again,
" nothing had been posted" I asked "whats taking so long" I was told
" if I pay them $3200.00 Things would speed up, get going faster. "
I reminded her that back on 7/10 I paid $2300,00 to qualify, and now I am in
forclosure with a sale date just a few days away. I want to know where that
money went?? And what happened?? I was told "its not in my file"
4-12-11 I received a phone call a day before my house is to be auctioned, I had been denied,
but now they have an amount I could pay to save my house, but now its too late
to pay
why wasn't I told an amount ? Then I asked for suprvisor and was told that,
"they do the same thing as a supervisor would, so how can they help me today?"
They also informed me that " wells fargo almost always buy the houses back ??'
I didn't understand at the time what this meant ,
I was told " wells fargo will get intouch with me after the auctioning off of my house
and try to work a plan that suits me?
My house was auctioned off the next day,
2 weeks later I receive papers that freddie mac bought it, so that was what they meant.
I then phoned a well fargos loan specialist locally I know and was told "this is a game
wells fargo plays , "just do everything they ask and it should work out"
but what he should of said was , "just do what they ask and move out "
we are hard working, tax paying, law abiding, U.S. .Citizens and desereve better,
especially, since its tax paying dollars being used !
Any help or info would be appreciated
I can be reached at cachu67@aol. Com.
Or
laura cachu
825 saginaw
dinuba, ca 93618
559-591-8643
559-590-5828
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