Wells Fargo Home Mortgage Complaint

Wells Fargo Home Mortgage - Wells Fargo''s Home Affordible Program Nightmare

The Home Affordable Modification Program was put in place by the federal government beginning on March 4, 2009. I understand that it may take a bit of time for the banks to fully implement this program, but Wells Fargo has been stringing me along for several months.

It took 7 months for me to finally get to the trial period phase of the program and they couldn’t even get that right. I had to reapply several times because of weak excuses such as “the application that you filled out last month had last month’s date on it”. I was asked for the current date on the application and that was what I entered. Other excuses were that the investors changed the rules, they never received my application (this was after I confirmed over the phone with more than one person that they already had it), the person who was processing the application did it wrong, etc., etc., etc.

Quite a few people who answered the phone tried to start the whole process from the beginning stating that they had no record of any communication from me. One woman who was verbally taking my application over the phone after insisting that I had not submitted any information yet started questioning my answers about half way through the interview stating that it didn’t match what she had on file. What??? She just told me that they had no record of my application. Next she started going through what I had submitted and telling me that she didn’t feel comfortable with some of my answers such as my home’s value. I realize that prices have ped significantly from their peak, but I live in a nice home in a beach community in Southern California. The average price in my zip code is still over 600k and she didn’t feel “comfortable” with a value of over 100k.

After months of jumping through ridiculous hoops including nearly 50 phone calls and well over 100 hours of my time to try and get this through, I was elated to hear that my trial payments were really set to start on October 29th. I chose to use the automatic withdrawal option from my checking account because at this point I don’t trust them and I didn’t want them to be able to say that I never mailed my payment and therefore ped from the program. Wells Fargo had set up the payments and then d them several times in September and October because they couldn’t seem to get it right. With all of the iterations that they went through with the application process, they came up with two conflicting amounts that my monthly payment was supposed to be.

When they told me that they wanted to one set of payments and then re-enter them with the modified dollar amount, I balked. They had messed up so many times that I was willing to pay the higher amount just to get this to actually happen. I was foolishly convinced that they finally had their act together and let them enter the lower payments to be deducted from my account. When they did I asked what should have been obvious “did you the other scheduled payments”. They assured me that they did. A few days before the payment was to be applied I started calling to verify that everything was still in place and correct. I was assured by a more than one WF mortgage specialist that it was.

Much to my shock and dismay, I looked online at my mortgage account on October 29th and saw that they scheduled both amounts to be withdrawn, thus doubling my payment. I called immediately to alert them of this error because I didn’t have access to enough money to cover these charges. I was told that there was nothing that could be done about it and if indeed they found that a mistake had been made that they would just apply it towards future payments. If I could afford that, I probably wouldn’t need this program. I spent all day on the phone with them trying to get my money back. Every person that I spoke to said something different but the bottom line was they were not giving it back any time soon.

I have had chronic health problems for over a decade and the associated medical bills have wiped out all of my savings, retirement funds and credit. Now I will possibly lose my utilities soon because checks to the utility companies were mailed out and have not yet cleared and Wells Fargo told me that they would not be honored. All that Wells Fargo could do was say sorry – we will open a research ticket. You might see the money back in your account in 7 – 10 business days. This was clearly their mistake and I am stunned at their lack of concern and unwillingness to make an effort to resolve this. I asked if they would cover the extra expenses associated with their error. The answer was that they would probably take care of the overdraft fees on their end but that’s it.

From what I was told, there is a good possibility that the incorrect payment went through first, causing the correct one to bounce. Technically this means that they could eliminate me from the program because it is my understanding that all trial payments need to be made on time – no exceptions. If there is any problem with making the first four payments, I could become ineligible for the program. Even if they refund the incorrect payment it will be way after the cutoff date to make the correct payment.

I then started searching the internet to see if Wells Fargo has done this to others. They pulled something scandalous on my boyfriend a few months ago and never made it right so I suspected that they are taking advantage of a lot of people. What I found were thousands of complaints posted on various websites.

Responses to Wells Fargo Home Mortgage Complaint

Typos

When I submitted this some of the words got cut off by this website's editor. I tried to fix them but the edit feature here does not work.

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