Consumer complaint received 2015-04-28
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Other mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
In XXXX XX/XX/XXXX we moved into our new home we had built. For 7 years we made all payments on time, kept all taxes and insurance up to date. In XX/XX/XXXX we believed we had a sinkhole and notified the insurance company. ( XXXX XXXX XXXX XXXX ) After extensive testing XXXX determined we had a sinkhole and agreed in writing to repair it. The estimates in writing were approximately {$180000.00} but they said they would likely cause more damage when they lifted the home. ( 6 years later our home is much more damaged ) After XXXX failed to act on our repairs we hired a attorney XXXX XXXX, XXXX XXXX XXXX XXXX to represent us. Just a few months later we were informed by our attorney that XXXX had been put into receivership by the state of Florida meaning they would not repair our home & we would have to wait for them to go out of business completely & then petition XXXX XXXX XXXX XXXX XXXX XXXX XXXX to do the repairs. That has been almost 6 years ago and they are still not out of business yet. We have tried on more than XXXX occasions for our bank to modify our loan based on the repairs we do to live in our home as well as our tremendous loss of value. We have been turned down every time. On multiple occasions we were turned down in the same 60 days for making too much money and 60 days later for not making enough. Our income fluctuates month to month, I am a XXXX, my wife is an XXXX XXXX. We do n't make the same amount of money every month. The last effort to modify our mortgage ( less then 6 months ago ) we were told our modification was turned down because our home appraised too high XXXX and XXXX. Which we will include. I spoke to XXXX appraisers and was informed they were desktop appraisals and they were never informed of any sinkhole and never came to the house. When I asked to please review the sinkhole report to give a fair appraisal, they said they would not do that because Wells Fargo gives them too much work to go against what they requested. We have appraisals of less than {$100000.00} which we will include. After extensive research in court cases around our entire county, we have found numerous cases filed against Wells Fargo that were won because of their modification practices, many of them in Federal Court. They also lost cases in the " Pick a Payment '' cases which they were ordered to help these homeowners who had those loans. That is what we have. We feel that Wells Fargo has done the absolute opposite of helping us. They would not even give us the opportunity to apply for the " Florida Hardest Hit Program '' and never even informed us of it. We recently have been informed of it ( By XXXX XXXX XXXX ) & applied for that and we are waiting on the results to see if we qualify. We have wrote letters to XXXX. XXXX XXXX of Florida, XXXX. XXXX XXXX of Iowa and XXXX. XXXX XXXX of California. We have also wrote a letter to XXXX XXXX XXXX, XXXX of Wells Fargo. This case is not a common XXXX and we are asking for a resolution before we lose our home. We bought this land and owned it before we borrowed to build, we picked this property to raise our children on and feel the system has failed us. We will continue to fight for our home and what is right.

Company response to consumer: Closed with explanation