Consumer complaint received 2017-08-14
Company: WELLS FARGO & COMPANY
State: CA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Wells Fargo Home Mortgage acquired my mortgage from Wachovia, who had acquired my loan from XXXX XXXX. This loan was originally a HELOC, and was modified in XXXX into a second mortgage. The interest rate is a decent rate ; however, there was a large payment made by cashiers check of {$20000.00} in XXXX, paid to and cashed by Wachovia Mortgage, that has never been credited to or deducted from my account balance. This is a serious discrepancy which was not corrected when Wells Fargo originally took over the mortgage. I was not able to get Wells Fargo to correct the error during the modification process. I was told " this is not Let 's Make a Deal ''. " You do n't get to write your own terms of the modification agreement ''. Payments were misapplied during the trial modification, which had been requested for 4 months. I continued to make trial payments for 12 months and during that period of time I was credited for 0! That error was corrected in XXXX, and all trial payments were credited to my account ; however, the {$20000.00}. was never deducted from my balance. The terms of the modification for my first mortgage were not good ; it turns out it was a streamline refinance which greatly increased my interest rate rather than reduce it. During XXXX, I experienced multiple hardships and requested another modification for my first and second mortgages, especially since I was advised that the terms of the modification were not according to the HAMP guidelines. I was hardly denied. I was told I was not entitled to another modification from Wells Fargo ever again under any circumstances. In XXXX, the first mortgage received assistance from Keep Your Home California, which I greatly appreciate. KYHC told Wells Fargo that they would not be able to provide the assistance if the 2nd mortgage, also with Wells Fargo, was in foreclosure and that they had to remove it from foreclosure status and work out a resolution with me. The amount due for the 2nd mortgage at the time was under {$4000.00}. and they still owed me a credit of {$20000.00}. The moment KYHC provided a check for the 1st mortgage arrears, Wells Fargo place the 2nd mortgage back into foreclosure status and refused any work-out arrangement with me. Then they immediately sold my first mortgage to XXXX XXXX. KYHC does not directly assist with 2nd mortgages. Wells Fargo was dishonest with KYHC and with me in their handling of my 2nd mortgage account. XXXX XXXX was unaware that the 2nd mortgage existed and was putting my home in jeopardy. It is imperative that the large sum payment from many years ago be corrected, accepted as fact, applied to reduce my balance, and that it be credited to offset the amount of approximately {$6000.00}. Wells Fago wants to foreclose my home over. I am hoping you will be able to intervene so I wo n't have to resort to hiring professional assistance. My account # 's currently are : First Mortgage : XXXX XXXX # XXXX ; Second Mortgage : Wells Fargo # XXXX. Thank you for any and all assistance. It is greatly appreciated. XXXX XXXX

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