Consumer complaint received 2021-02-26
Company: WELLS FARGO & COMPANY
State: CT
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
In XX/XX/XXXX my wife and I contacted Wells Fargo bank to request forbearance due to being negatively impacted financially as a result of XXXX. We were informed that the forbearance was granted. I was informed that the next mortgage payment would be due in XXXX received documentation from Wells Fargo to support this. 

In XXXX we contacted Wells Fargo to request an extension of the forbearance. The Wells Fargo representative that we spoke with informed us that the forbearance had been granted. I continued to receive monthly statements indicating that the mortgage was in forbearance. Sometime in XXXX a letter was sent from Wells Fargo regarding saving your home. We immediately thought this was a computer generated letter but contacted Wells Fargo nevertheless. The representative we spoke to was unsure what had transpired but would have someone contact me. A Wells Fargo representative shortly, thereafter told us, that the information previously provided by the Wells Fargo representatives was incorrect. Internally, the lender reneged on the forbearance and was now demanding payment. I expressed my unbelief regarding this. It was wrong on so many levels. It is unethical, immoral and possibly illegal. Yet the many representatives at Wells Fargo seemed totally indifferent and stated You are not the only one this is happening to. As Wells Fargo has allowed this to happen to other borrowers as well. 

The saga continued with us having to complete and send all the documentation that the XXXX XXXX Representative requested. Only to find out after waiting weeks, that no assistance would be granted. 

Furthermore, XXXX XXXX XXXX XXXX representative in the XXXX XXXX that only handles complaints XXXX was the representative we ( my wife and XXXX XXXX spoke to on XX/XX/XXXX. He said that he speaks on behalf of the XXXX of Wells Fargo. During the conversation with XXXX XXXX he insisted repeatedly that even though Wells Fargo representatives provided incorrect information to us on more than XXXX occasion that resulted in the current situation that Wells Fargo was taking the position that there was no service error. Therefore there was nothing that could be done. 

He offered no compromise or amicable solution to this infraction caused. My wife and I however, asked for the amount deferred to be placed at the end of the loan and we would resume monthly payments immediately. We then asked if we could pay the XXXX months deferred and resume monthly payments. We were informed neither of these solutions was deemed as an option. 

XXXX XXXX sent me a letter outlining the correspondence that Wells Fargo sent to me. However, he neglected to include any record of the telephone conversations my wife and I had with Wells Fargo representatives in response to the correspondence received. 

For a bank to act so callously during this growing pandemic ( which has put a huge strain on the majority of the population ) is beyond belief. I was not asking for a handout. I was asking for a suspension. I asked if I could pay the 6 months originally believed to be placed in forbearance and informed this was not an option. The only options that have been offered to me are to pay {$27000.00} or a short sale. This is totally unreasonable based on the fact that the entire debacle was caused by the misinformation received from Wells Fargo. I would like to be able to resume monthly payments.

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