Wells Fargo Mortgage Complaint

Wells Fargo Mortgage department,

Conventional fixed mortgage Application, originator, mortgage broker Florida

A year ago we took out a mortgage with Wells Fargo. At closing, the Truth in Lending statement disclosed a monthly payment of $1700.00. One year later we received notice from Wells Fargo stating there was a $5000.00 shortage in our escrow account that would need to be paid, as well as our monthly payment would be increased to $2200.00 We reviewed all mortgage documents, and found that Wells Fargo made an error on the Truth in Lending statement in regards to our taxes. We contacted Wells Fargo in an attempt to resolve this situation. After 2 months of review, they ultimately admitted they made a mistake, they covered the $5000.00 escrow shortage, but said we are still responsible for the higher mortgage payment, which amounts to $480.00 more every single month for the term of the loan. We are not satisfied with this resolution, as their mistake will cause our family to have to pay an additional $480.00 each month for the next 29 years.