Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Home equity loan or line of credit Loan modification,collection,foreclosure Florida

After the housing crisis my work dried up. - and the domino effect of the - foreclosures dried up school funding from property tax revenues. That coupled with needing - - - - rendered me unable to work. As a result my income went from - to almost - and I lived off of savings from - to -. I had a home mortgage and a retirement home mortgage with Wachovia which was bought by Wells Fargo in the Tarp Bailout. I took early - ( - ) and was going to sell my home in - and move to my retirement farm in -. I received - in - and have lived off of that with a few small jobs that came from my client base in - and -. I tried to do a loan modification on my - home in -/-/--/-/- with Wells Fargo. The - of the - branch in - - told me they didnt do loan modifications. I said according to HUD they did and i had completed an online modification qualification that indicated I qualified. The - manager insisted he had no information on loan mods. I missed my next payment on the


me again asking if I wanted to make the late payment by credit card in the interim to remain current. I received the documents via mail the next week and started the process. After months of forms, tax returns, bank statements, support documents and countless phone calls requesting a credit card payment to become current, Wells denied my loan remodicication and began foreclosure. With my youngest near graduation from college and older kids on their own I had to decide to keep the big - house or the - farm. Since the - property was my retirement home and the housing bubble crash had reduced equity in the - home from $120000.00 to - I decided the - property would never come back to a positive asset value in my lifetime so I let them have it in foreclosure and moved to the farm. I got a couple projects in - and - in the next year and rented a home close to one in - - and worked out of the farm for the other - -. The farmhouse living space is on - floor and my - got to where I couldnt do stairs anymore. After exhausting savings and living on SSI of - mo in - up to - currently i decided in - to get my - done so I could go back to work once the - market improved. I asked Wells to apply for Loan Modification on the Farm until I could rehab from - - - and get back to work. We started the process again but this time they said no need to do the HAMP program that their in house loan mod program would meet my needs. The second attempt was same as the first. They said my application was denied and began foreclosure on my last remaining asset. It seems they have done this to thousands of homeowners. Get them filing forms and docs, calling every two weeks to see if you can put the balance on a credit card to get current and doing everything but lowering your mortgage to something you can afford. Then telling me their Making Home Affordable program is not subject to the HAMP regulations. This left me - options : 1. File bankruptcy protection to save my farm and its equity from foreclosure or, 2. Sue the for bad faith in not providing a loan mod i could afford. Researching the internet I find that Wells has a long and checkered history of running people through the grist mill with no intention of ever doing a loan mod. They have paid - in fines and lawsuits with many suits outstanding for these and other practices. They will bleed you dry and still foreclose. - -