Consumer complaint received 2019-07-14
Company: WELLS FARGO & COMPANY
State: TX
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Wells Fargo dropped my flood insurance without my consent or knowledge. It was held in escrow and paid by them each year. I made a claim in XX/XX/XXXX and was told it had been dropped because I had been rezoned and it was no longer required by the lender. I told them I had never been in a flood zone, it had always been optional, and I absolutely could not afford my home without the assurance of flood insurance. They said they would let me skip payments for three months and the notes would be rolled into the loan and that would help me pay for repairs. XXXX came I received a phone call while at school teaching and they said I owed 4 payments by the next day or the payments I was allowed to skip would be considered late and reflected as such on my credit report! Over XXXX dollars. I left school and went to my bank and borrowed the money. The next morning I called to make a payment and was told the loan would have to be modified to put the notes in the loan total so I would only owe XXXX 's payment. I told them I had borrowed the money and wanted to pay the balance owed. They said it was already in a modification status and that wasn't an option. Over the course of the next year- through XXXX of XXXX I paid my mortgage through a third party collector while the loan was in modification. I was told my flood insurance had been reinstated and I was put on a 40 year loan. I ultimately got sick, then I had a wreck in XXXX on my way to work from not being able to sleep at night as I was XXXX years old and my life savings was rolled into this now modified mortgage. I was hospitalized for XXXX days in XX/XX/XXXX for XXXX of a XXXX XXXX I am certain pertaining to the stress involved with having a mortgage through wells fargo and the debt incurred from repairing my property with no insurance and wasn't even referred to FEMA. In XX/XX/XXXX XXXX came and I had over 18 '' of water and the force of XXXX XXXX rocking waves into my home for 5 days. I called to make a claim and was told I had NO FLOOD INSURANCE. I just found my original closing papers from XXXX and I in fact never was in a flood zone, and I was never rezoned, in all these years my zoning had never changed! I had to retire in XX/XX/XXXX after 45 years of XXXX. I have not received a penny in flood insurance money, no compensation from Wells Fargo, and no help from the worst insurance company in America- XXXX XXXX . I have spent the small lump sum I took out when I retired, making my retirement half of what I was expecting, incurred XXXX in debt, in addition to continuing to pay a mortgage for a house that is not yet inhabitable due to the damage from XXXX. After 45 years of XXXX I am now in worse financial shape than I have even been, and no career with income ahead. WF has destroyed everything but my health, yet I don't know how long I can stay healthy under the stress and XXXX that this has caused. No way to explain. I know WF does not care. I don't know why I am taking the time to type this. It is very painful.

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