Consumer complaint received 2017-04-10
Company: WELLS FARGO & COMPANY
State: NC
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
I have owned my home for 12 years and am facing a sale date on   XX/XX/XXXX   because my mortgage lender  Wells Fargo  refuses to open a review of my current financial situation. They claim that since they worked with me in  XX/XX/XXXX  and offered a loan modification that I am never allowed to have any type of assistance again. I do not believe that this is how the system works and feel that they are blocking access to programs that could help me save my home. I have been working full time as a   XXXX   XXXX   XXXX   for the last 5 years, and have taken on a second part time job at a   XXXX   XXXX   in order to help make ends meet and have the ability to afford a fair mortgage payment. My issue, and the reason for my complaint, is t hat Wells Fargo will not even give me a chance or  come to the table.   This is very frustrating, especially when I KNOW that I am in a position to fix this problem  if Wells Fargo  would give me the chance.  <P/> In  XX/XX/XXXX , during the recession I was laid off after 18 years. I applied for, and was eventually granted a loan modification. I continued to struggle as I was sporadically employed or underemployed during that time. I was able to get help from my father as well as collect unemployment and somehow managed to hold it together. However, the payment was still too high relative to my income and I tried to let the agents at  Wells Fargo know th is back in  XX/XX/XXXX . I tried repeatedly to engage with them as I ended up falling behind on the loan and get a new review opened but was told that since I had received help back in  XX/XX/XXXX  that I was never eligible for help again. I am not sure that is how the program works -- as I understand i t Wells Fargo r eceived ove r 30 billion d ollars in bailout funds from the government that was funded by taxpayers. I believe that there are multiple government as well as internal programs that are supposed to be made available to help struggling homeowners, and all I am asking for is a chance to be considered. This loan was an adjustable subprime loan with a starting interest rate of 8.09 % that could adjust as high as 15 %.  Wells Fargo ( and the companies that owned the loan before you ) collected a large  amount of interest on this loan before the modification in   XX/XX/XXXX   and I am just asking for some consideration and asking that they follow the established federal guidelines and the rules of the state of North Carolina.  <P/> I am working as a   XXXX   XXXX   XXXX   and have been steadily employed for the last 5 years. In order to help make ends meet I have been working part time at   a   XXXX   XXXX   as well. I CAN afford a fair and reasonable payment and I want the chance to fix this problem. I have owned my home for 12 years and if they were to conduct a review and restructure or modify my loan to address the late payments and current rate and payment to something that is affordable based on my income every side would come out a winner. I feel that I am running into a brick wall and could use some assistance in this matter

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