Consumer complaint received 2017-09-02
Company: WELLS FARGO & COMPANY
State: NC
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
I bought my house with a mortgage loan through Wells Fargo in XX/XX/XXXX. For nearly 12 years I paid my principal and interest payment with Wells and took care of my property taxes and insurance myself. However, Wells decided that they needed to set up an escrow account and without my permission raised my monthly payment from {$2300.00} to over {$3600.00}. This put me in a major hardship ; I am on fixed income ( military pension -- served in the XXXX XXXX ) and due to medical problems I had to take an early XXXX. I was overwhelmed with medical bills and the huge increase by Wells was the straw that broke the camels back. I contacted Wells and made an appeal to eliminate the required escrow account. I was told that while in appeal I could make the regular principal and interest payment. After a couple of months my appeal was denied. I was told that the payments that had been made were not credited to the loan because they were less than the expected payment. Yet another misrepresentation and questionable action by Wells Fargo. I was told that I needed to pay the $ XXXX monthly payment. Even though this is more than half of my monthly income I did my best and made the payment for several months. Then Wells Fargo contacted me and said they would no longer accept this payment from me. I tried to apply for a modification. Wells Fargo said they would open a review, then I was told that they were not going to review me ( no reason given and no decision given ) and that the file was being forwarded to a foreclosure Attorney. 

I know that there are government and internal programs available to assist struggling homeowners in my situation, yet Wells Fargo is denying all access to these programs? They wont even consider me for a modification? What about my years of service to my country in the XXXX? What about the fact that I paid this mortgage on time each and every month for over 12 years or the fact that Wells Fargo received XXXX XXXX dollars in bailout funds? I had to retire early due to medical issues and am saddled with medical bills at this time. Although I receive a generous pension from the military, the current payment Wells Fargo is attempting to shove down my throat is more than half of my monthly income. I know that there are options available such as modification, forbearance agreement, a restructured term or even a repayment plan. However, Wells Fargo has chosen to deny access to all of these programs and informed me that they dont even want to move forward with a review for assistance. This is wrong. Instead of allowing me a chance for these programs they referred my case to a foreclosure attorney. Isnt Wells Fargo required by law to conduct a review of my current and correct financial information to determine if I qualify for assistance options. Instead of following this protocol, Wells Fargo has decided that they are the judge, jury and executioner. This is wrong.

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