Great that I have found another website to vent my ongoing frustration with WELLS FARGO BANK.Today marks my one and a half year anniversary of being in loan modification.Will be celebrating it by making my weekly call to them which I have done almost religiously for a year and a half! The only comfort I recieve from this incredible, stressful debacle is a glimmer of hope that at some point, some time, something will get done to help us..all of us!!
Our story is so similar to so many that I have read. We planned for years to build our house, not a mansion, but a comfortable place for our kids to grow up and our families to visit.We kept current with our mortgage with Wells Fargo for years (we also had our previous home mortgage with them for 15 years and never missed a payment). In November of 2008 my husband lost his job. After months and months of searching he was unable to find anything . We took the lead from the newly elected President and a huge leap of faith to start our own business. We cashed in our 401k, maxed out our creditcards, borrowed money from family in an attempt to keep up with our mortgage..We called Wells Fargo in December to see if they could help us with a loan modification (we are in a seasonal business) and told them we just needed a little temporary help. This is truly when our hell began!
Very long story short, after finding a few websites similar to shamethebanks.org I decided to try and take some type (any type) of control in this. Feeling like doing anything would be better than doing nothing! I sent a certified letter to the Dept. of Treasury, Comptroller, My Congressman and the President and CEO of Wells Fargo. Along with this letter I sent a 4 Page, single spaced timeline of every letter, every employee id # (from Wells Fargo rep's) and every conversation with Wells that I could find! Our personal "loan modification file is about 12 inches thick!
We are literally at the mercy of Wells Fargo Bank. Never, ever would I have predicted us to be in this situation. Like all of you, we are hard working, tax paying citizens who fell (temporarily) on hard times, who are asking only for a little (temporary) assistance.
Our last conversation with Wells Fargo (Stanley) happened to be last week, when we were told that after a year and a half of "working on it" that our application approval is "NOT LOOKING GOOD". Talk about irony: our business has finally started paying off, we told them we would be in a posistion to start paying them immediately, if they could just rework a plan, re-evaluate our financial situation and provide us with a resonable mortgage payment...We've heard nothing.
Our biggest fear is that the foreclosure notice (2nd) is on its way and they will be asking for ALL the arrearage that is owed. Which, by their own hand is an amount we could never come up with.
In yet another attempt and as a last resort to be proactive, we called our local housing authority action committee. They immediately sent over an 18 page applicaiton to be filled out along with a fifteen item list for paperwork they would need when we have our face to face two hour interview to review our eligibility for assistance....happy anniversary to us...more to come
UPDATE: Just when we thought we were at the proverbial end of our rope, we get a call yesterday from a representative who claims he is a liason to the President's office of Wells Fargo/ Wachovia Mortgage. Imagine our relief when he says they are in reciept of my letter of complaint and that they are so sorry (blah, blah) and will begin to "streamline" our loan mod. He said the process, which normally takes 30-90 days (haha! considering we, and most of you have been going through this process for a year or more), will take only a week!! A week? I say. Yes, he says. Finally, someone, somewhere is listening!!!
I WISH I could end this post with a happy ending.. But of course, it doesn't! The rep. then says ok, you have an arm mortgage rate..right? Uhhh no I say, we are at a fixed rate..Oh? he says..is your loan number !@#$%^! ? Uhh no I say..You must have THE WRONG FILE IN FRONT OF YOU!!!! It is beyond the point of anger, We are incredulous to this situation!! What do we say when the liason to the Office of the President can't even call the right person???!?!?! Is there any hope? For any of us??
note*** Just imagine if I were of a criminal type nature...This person gives me SOME other poor souls loan #..If I would have played along, I wonder what other personal info I could have gotten???? SCARY.
The rep again says he's sorry and will try to get my file to the right person?!??! Won't be holding my breath...The saga continues.....