Consumer complaint received 2015-05-21
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan modification,collection,foreclosure

Complaint:
This is not your garden variety foreclosure complaint, and your kind attention to this matter is very greatly appreciated. Back in 2009, during the height of the economic and housing crash, we fell behind on our mortgage after I was laid off from work. After going through foreclosure mediation ( read : please move out of your home before we get midieval on you ) we entered into and completed XXXX loan modification programs over the course of XXXX years, of which, the XXXX modification was a HAMP approved modification with assurance that the modification would proceed pending our successful completion of the trial period. The prior XXXX trial periods we entered into seem to in retrospect have been deceitful attempts to collect payments - only with no real path to a permanent loan modification, as the lender would n't inform us of their decision to modify until after we completed payment plans, which we did ... and they did n't. 

In total we have made $ XXXX in trial payments to the lender on home valued at between $ XXXX and XXXX depending on the state of the real estate market here in Florida during this time. 

In XXXX different trips to court, we consistently presented substantiating documents that we have meet every trial period payment obligation, including the HAMP approved trial payments and all trial period obligations including credit counciling, and new employment ( to qualify financially ). The court ultimately dismissed the case for reasons that include the plaintiff could not verify paperwork the court wanted to see, and the plaintiff attorneys in court argued that the HAMP approved loan modification documents were not a true, authentic offer but just an assurance they might modify the loan. This gets to the heart of why I am contacting you to issue this complaint. We believe the documents were an authentic HAMP approval as they laid out all the terms for modifying the loan, including interest rates, exact amounts of principal reductions, and exact amounts of XXXX payment bonuses, and included statements that they would modify the loan pending our successful completion of the trial period. 

Ultimately, we did complete the trial period successfully and the lender failed to issue final loan documents for us to sign. They have never contested our completion of the trial period, they just simply never sent us the documents. 

Now to the present, we have received an influx of new pre-foreclosure letters from the lender, including among them, an explanation that the HAMP approved modified loan was never issued because we failed to sign the loan documents! This letter, accusing us of being the reason the loan was n't modified because we failed to sign the documents is the proverbial " final straw that broke the camel 's back, '' and we believe is worth your consideration for initiating an investigative inquiry. 

There is no doubt we will be sued again, and we will fight once again for the loan modification we have worked so hard for, but hopefully during this process we may have an advocate in you and your team at the CFPB. Thank you.

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