Consumer complaint received 2017-05-18
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
On  XXXX   XXXX ,  XXXX , I refinanced my home for {$340000.00}, with a lender named, The  XXXX   XXXX   XXXX   XXXX  in  XXXX  Florida. I believe this could be considered a predatory loan since the finance company based the loan on my salary solely and the value of my house. Which the valued it quite a bit more than it was truly worth and without anyone coming physically to the property. Somewhere around  XXXX   XXXX ,  XXXX , I was laid off from my job at   XXXX   XXXX   which I had worked at for over 28 years. My division of the company was bought out by  XXXX   XXXX   XXXX   XXXX  and all member s of management wer e laid off. This started my financial issues as I went from {$55000.00}, to {$0.00}. After I got behind on the payments I received notices of impending foreclosures, I believe by this time the mortgage had been resold once or twice. I was contacted by a company named  XXXX   XXXX   XXXX , run and owned by  XXXX   XXXX   XXXX . He said he would buy the house for {$10000.00} and rent back to me for {$1300.00} a month. And after 1 year he would sell back to me for {$370000.00}, this would keep the house from being sold and would build credit back up after paying for 1 year. After the year was up I went back to him to buy back now he wanted {$450000.00}, for the house, soon after this we found he was arrested for mortgage fraud he had just had the title put in his name and was supposedly having the billing notices sent to his address and was not paying monthly mortgage. Even though my name was still on mortgage the bank never notified me of what was going on. The state of Florida prosecuted him for fraud and I was put on a list of victims tha was suppose to be remunerated by the state of FL, which has never happened I have kept in touch with the States Attorneys office through the years and finally last year they said it would be up to me to get my own lost monies. Since the issue with   XXXX   XXXX   XXXX   I have tried at lea st 8 or  9 times with  XXXX   XXXX   XXXX  and no w Wells Fargo  to modify or rework my loan. They always reject it, never saying why, just reapply again. Last year,  XXXX , I had negotiated with  Wells Fargo  to do a short sale, they agreed to it and I was working with a realator who had a potential buyer and  Wells Fargo, stopped the foreclosure sale then  without notifying me they went ahead with the sales in  XXXX   XXXX , I only found out by checking the Clerk o f the County for   XXXX   XXXX  website and saw they cancelled the cancelling of the sale and with 1 days notice I filed a chapter  XXXX  to stop the sale. I have dealing with this for 10 years now and wanted to make payments, but they would never approve me, they could have been receiving monthly payments for 10 years. During this time I had to deal with my fathers illness ',  XXXX   XXXX   XXXX ,  XXXX   XXXX  and  XXXX   XXXX . And they would not work with me, it is also my understanding they have " lost or ca n't find '', the original mortgage instrument.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation