Consumer complaint received 2015-07-10
Company: WELLS FARGO & COMPANY
State: DE
Product: Mortgage
Sub-product: Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
My nephew wanted to buy XXXX homes that had been converted into apartments in XXXX GA, but did n't qualify to do so and asked if I would co-sign for the mortgages. After thinking about it and talking with him about the subject I decided to do so, but I also knew the risk of doing this because co-signing for anyone is a risk no matter who it is. I did n't put any money down nor did I pay any mortgage payments on either of the apartment homes. My nephew was paying all of the mortgage payments and his wife was making sure that the apartments were kept in shape and rented. About XXXX years ago my nephew decided that he did n't want to be married anymore, and asked for a divorce which left the houses without anyone to look after them, and even though he was able to pay the payments and rent out the apartments he decided to sell the houses. After working with a real estate agent, gathering paper work and other things I checked in with my nephew to make sure that all was going well with the selling of the homes. This was at a time when the housing market was still in pretty bad shape so the homes stayed on the market for quite some time, and from time to time I would hear from the real estate agent that was working with my nephew about paperwork to sell the places. In XXXX of this year " 2015 '' I decided to buy a new truck, and that is when I found out that I had XXXX foreclosures on my credit, but could n't get a hold of my nephew because he is overseas working as XXXX so I contacted the real estate agent to see what had happened with the selling of the XXXX properties only to find that the houses had went into foreclosure and the houses had been sold. The real estate agent assumed that my nephew and also the banks had been in contact with me about what was going on. I was astonished to find that not only did my nephew not call me, but neither of the banks ( Wells Fargo and XXXX XXXX XXXX ) contacted me about the mortgage payments not being made. After pulling my credit and looking at the information on the XXXX loans from these XXXX mortgage companies I have filed disputes with all XXXX credit reporting agencies. I am realistic about what my nephew did, but I am in shock that neither of the banks contacted me the ( owner/con-signer ) of the mortgages to let me know what was going on with these properties because something could have been done to save not only XXXX but both of the properties from being foreclosed and sold. The disputes with all XXXX credit monitoring agencies was put in, but only XXXX agreed to remove the history from the credit report, and that is all that I was asking them to do is remove the credit history from the credit reports because the houses did go into foreclosure, but the mortgage companies did n't do their due-diligence in contacting me ( owner/co-signer ) about these properties. XXXX did remove the history, but left the information stating that the house was foreclosed on and my credit is actually good with them. XXXX and XXXX did not take into consideration that the mortgage companies did n't do their due-diligence in contacting me, and have kept all the history which has pulled my credit rating down, and this is what I would like to change with these XXXX credit monitoring companies the removal of the history from my credit report in dealing with these XXXX mortgage companies. Any assistance that you can provide me with these XXXX companies ( XXXX and XXXX ) would be greatly appreciated. Once again I would like to say that what 's done is done, and I wo n't be doing any co-signing for anyone again, but the XXXX mortgage companies did n't do their due-diligence and contact me ( not a letter, phone call, or email ). Thank You for any assistance that you may be able to offer to me to keep my credit where it was and should be.

Company public response: Company chooses not to provide a public response
Company response to consumer: Closed with explanation