Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Conventional fixed mortgage Settlement process and costs Michigan

Hi my name is - - I have a mortgage with Wells Fargo. Loan # - -/-/- I went through a loan modification and was allowed a ( HAMP ) loan and the terms were set as follows. The first 5 years I was at a 2 % then the 6th year my rate would go to 3 %, the 7th year my rate would go to 4 %, and the 8th year my rate would go to 4.5 % fixed for the remainder of my loan. I have never made a late payment. I have a credit score of -. I was fully in agreement with the terms of my modification. I went through a divorce and I was awarded the house. -/-/- I had to assume the mortgage and remove my x wife 's name from the note.


Then on -/-/- I had a closing at - - - of Michigan. They received my closing packet from Wells Fargo and I sat down to close on the assumption. While signing the papers I pointed out the fact that Wells Fargo had changed the terms of my loan. Wells Fargo had crossed out the current terns with a black marker. They drew a line right through it. My new documents clearly say that I have been locked in at 2 % NON CONFORMING FI-ED RATE LOAN FOR - MO. Wells Fargo even put it in bold print. Not only does it say it on the terms page it also says it on - other pages. I was at the understanding that I was locked in at 2 % like they said. But -/-/- Wells Fargo changed my interest rate to 3 % now they have moved me to 4 %. I have called and sent Wells Fargo letters to no avail they wo n't help me. I even sent them copies of the new contract and they said that I ca n't change the terms of the contract with an assumption. I told them that I did n't change anything Wells Fargo did and they need to honor the contract that they sent and I signed in front of a notary at the title office. Wells Fargo had me pay $900.00 just to assume the mortgage plus lots of other fees. Now Wells Fargo has my payment up so high that I am having trouble being able to afford it again. It has gone up like $250.00 a month already. I have attorney fees to pay and I tried to pull some cash out to consolidate some bills and Wells Fargo wo n't help unless I do a refinance. They said I need another appraisal that will cost me at least $500.00 and another $2500.00 or so for other cost. My first Mortgage should be at 2 % then I could get a small 2nd to consolidate my additional dedpt. Wells Fargo said that the interest rates have gone up to 4.5 % to 4.9 %. If I knew I was n't locked in at 2 % I would have refinanced when the interest rates were at an all-time low. Not only should Wells Fargo honor the contract, but they should put the extra money that I have paid to them back on the principal or return the difference. Attached are the papers that I signed at the closing at the title office on -/-/-. Please look at the dates of my contact and the dates on any paperwork that Wells Fargo gives you. Thank you for your help with this matter. I am at the understanding that the latest contract is the most current and it should be honored. I received your information from - - the Attorney General 's office in Michigan. Attached are some photos of the documents if you want to see them better I can fax them to you just send me your fax number or call My information - - -, -, - - - - - MI - loan # -