Consumer complaint received 2019-07-23
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Other type of mortgage
Issue: Struggling to pay mortgage

Complaint:
I had loan with World Savings in XX/XX/XXXX they were consumed by Wachovia whom placed me in a pick a payment loan and before Wells Fargo aquired Wachovia they had placed in a loan modification in XX/XX/XXXX without my knowledge before Wells Fargo took over there responsibilities. I had two properties with Wachovia and  now Wells Fargo this modification started in XX/XX/XXXX thru present raising my interest rate to 6.5 % in XX/XX/XXXX thats on my primary residence. I went into foreclosure in XX/XX/XXXX with both homes seeking attorney assistance which my monies were taken and I hire another attorney to fight my case to retrieve my funds. That became a problem Wells Fargo never tried to work with me with my loans to modify from Wachovia bad loan the rate continued to increase year after year no help my back was against the wall due to XXXX XXXX. They continue not to help me get to better loan after they assumed all Wachovia customers. So I continue to fight them for loan help to remove me out of this negative amortized loan all this time from XXXX till now I have had this loan interest only they have capitalized on me as a homeowner I been in my home for 24 years this year and Im in a 42 year loan with interest only adjustable rate which overall places me paying on my home for 60 years if I ever refi I will have to go back to 30 year I have paid over {$180000.00} till {$200000.00} est. last 10 years in this loan and did not any apply to my principal this is total rip off / yet this stem from World Savings/Wachovia/Wells Fargo. Now, Im XXXX XXXX XXXX just had to retire on total XXXX with XXXX of XXXX that causing me to lose my XXXX XXXX I went from {$100000.00} income to {$30000.00} to know your house is in this situation is awful that banks can get away with this type of business practices and violate the laws of lending practices. I did do legal audit with law firm on my loan documents in XXXX and several incidents against Wells Fargo were found for illegal practices unfortunately my health has been faltering and financially I was unable to fight them I never knew how to fight them they continue to keep me in this bad modification loan collecting interest payments for there best interest only. I seeked help from Keep your home California in XXXX which helped me to get my house out of foreclosure status thank XXXX for them. Both of my homes were in foreclosure my primary as well as my rental property unfortunately I was unable to save my rental property which I was remodeling from XXXX thru XXXX never in default I had the same bad modification on this loan as well from XX/XX/XXXX thru XXXX. At this point my property was vacant but my stepson was my housesitter. Wells Fargo sent a company XXXX in my home in XX/XX/XXXX which they locked me out of my property/ stole all my belongings, tools, appliances etc I was about 2 months out to rent this property again I owned the property since XXXX and had rented thru XXXX. XXXX represents Wells Fargo they were caught in the property by the Police and a report was filed House was alarmed. I was not late or in default at this time I had just spend {$70000.00} on the property in remodeling due to insurance claim. Later on I seeked legal help and attorney I hired for both of my properties end up taking my money and both of my homes went into foreclosure later in XXXX or XXXX of XXXX. This has been a nightmare I short sold my rental and I received {$3000.00} for long as I had that property and much as I put out for 12 years in mortgages and taxes they just stole my property with that bad loan and there break ends which kept happening ever since XXXX had did there dirt nothing went right and my health issues escalated and my medical bills I couldnt hold on and I left with {$3000.00} I cried and Im still crying with my primary property now 24 years in this home Im in a 42 year loan since XXXX loss a ton of money on the principal amount just interest only because of this bad loan that they never tried to correct Its sad. Ill will have paid on my home 60 years after working hard for 47years something has to be done I would have done this sooner if I was well enough to proceed but I hope your blessings can help me back to a normal loan. I dont no where to turn this is bad to find out your property is in this situation. To find out you been taken advantage like this and they think they can get away with banking theft and fraud practices. I feel Wells Fargo has violated the law I should have been placed in another loan or modification after the downfall of Wachovia/ World Savings at this time I hold them solely liable for bank : real estate fraud. I feel this loan was illegal and totally fraudulent. I feel I should be granted principal forgiveness and can prove they fault in this all. I have legal proof against them.

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