Consumer complaint received 2016-12-19
Company: WELLS FARGO & COMPANY
State: OR
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
We recently tried to refinance our loan with Wells Fargo, in early XXXX, because we had some financial hardship & because the interest rates were starting to climb.We 'd had the mortgage for 11 years & it was a XXXX ARM, & we were at 3 % this year.We owed $ XXXX on the mortgage & the home was worth $ XXXX.Our goal was to fix the interest rate at 3 % ( buy it down a little if necessary ) & stretch it back out to 40 years on a $ XXXX $ XXXX loan.The original mortgage loan was $ XXXX.It was our PRIMARY Residence ( not an investment property ) .This would have saved some $ XXXX/month in expenses by reducing our mortgage payment nearly {$200.00}, & allowing us to pay off credit card debt & clear another {$300.00} per month or more.It 's not like we were NEW customers trying to apply for a loan with Wells Fargo for the first time.We were already customers with a mortgage from Wells Fargo.We could have saved our home.+ we were simply trying to make our lives simpler, financially.It seemed like it should have been easy ; a win-win for both parties because Wells Fargo could have earned interest from us for longer.And this was n't the first time we 'd tried to refinance or apply for a loan modification over the course of the 11 years & had trouble with Wells Fargo.We began the process by supplying all the documentation they requested & we uploaded it to their electronic portal.They assigned a modification employee to us.We received XXXX or XXXX introduction letters in the mail on different days that were to introduce us to our modification expert.All letters said exactly the same thing.It was as if someone had pushed 'GO ' on a robot that picked a pile of letters from a stack & dumped them in the mail.On subsquent days, a few pieces of documentation had to be appended to the original documents that were requested.But we did it with focus, all in the matter of a few days.A little bit of time went by & suddenly we received XXXX more letters on staggered days, all saying the same thing, & introducing us to a different modification expert that had exactly the same job duties as the first.The canned message only differed from that of the first mod expert in the name of the person on the letter and the date.This person proceeded to ask us for all the same documentation we had already uploaded to the electronic portal.I explained to the second modification person that we 'd already done all that. 'Do n't you see it on the portal & did n't you talk to the XXXX person that was assigned to us? 'She said, 'I do n't know that person, they must be in a different office. Ok i 'll check. ' Time goes by and, yep, you guessed it, XXXX more letters in the mail from a 3rd mod expert asking for the same documentation again.Of course the 3rd person did n't know the XXXX XXXX people assigned to us.They asked me for a rental agreement.I told them I temporarily rented out the house to pay the mortgage while trying to refinance but it was our primary residence.We had temporarily moved in with other family members who were n't charging us rent.But i gave them a rental agreement, they incorrectly calculated my income high by 30 % by counting rental income after I told them not to, & finally denied us the refinance, again.In this economy they optioned a short sale or suffer foreclosure.I guess WELLS wanted our home to sell it for profit in order to recup their losses in previous mortgage malpractice lawsuits of which I was a part of.I was awarded {$2000.00} in XXXX when the XXXX sued Wells Fargo for foreclosure practices.Had I let the home foreclose in XXXX i 'd have been awarded $ XXXX $ XXXX.Instead Ive lost $ XXXX+interest since XXXX in XXXX retirement income, from early distr. tax penalties, + I had to pay back some state aid when I had to sell early in the forgiveness period because Wells Fargo would n't lift a finger to help us.Any1 know a lawyer I can call for our losses at the hands of this bank? Does CustomerService exist?

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