Consumer complaint received 2016-09-02
Company: WELLS FARGO & COMPANY
State: FL
Product: Mortgage
Sub-product: Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account

Complaint:
I BROUGHT MY HOUSE IN 2006 WHEN PRICES WERE AT THERE PEAK AND I PAID XXXX % DOWN. I MADE ALL PAYMENTS FOR A COUPLE OF YEARS WHILE INTEREST RATE SOARED. I KNEW I WAS NOT BALANCING SO I CALLED BANK SEVERAL TIMES BEFORE I RAN OUT OF SAVINGS MONEY. THERE SAID THEY DO NOT WANT TO DISCUSS ANYTHING AT THAT TIME. EVENTUALLY I USED UP ALL SAVING AND HAD TO STOP PAYING TO BALANCE OTHER ACCOUNTS. I WORK THEN AND NOW WITH THE XXXX XXXX XXXX XXXX. I APPLIED FOR ASSISTANCE WITH THE BANK 7 TIMES OVER 1 YEAR. EACH MONTH I GOT A DIFFERENT EXCUSE WHY I COULD NOT GET IT EVEN THOUGH THERE PEOPLE ON THE PHONE SAID I WAS A GOOD CANDIDATE. EXCUSE :1 ) YOU MAKING TOO MUCH MONEY. 2 ) YOU MAKING TOO LITTLE MONEY. 3 ) YOU NOT UNDER ENOUGH HARDSHIP. 4 ) YOU JUST DO NOT QUALIFY. I MAKE ALL MY OTHER PAYMENTS AND AM EARLY ... ..I JUST NEED THE RIGHT PAYMENT. I EVENTUALLY I GOT A LAWYER, BECAUSE THEY DID NOT SEEM TO WANT TO TALK. I GOT A SMALL REPRIEVE WITH A BETTER INTEREST RATE AND PAYMENT I KNOW I CAN MAKE AS WELL AS A TRIAL PAYMENT PERIOD OF 3 MONTHS. I ASKED THE WELLS FARGO MORTGAGE PROFESSIONAL IF THAT WAS ALL FOR THE TRIAL PAYMENT 5 TIMES TOO BE SURE THERE WOULD BE NO SURPRISES. ON THE 3RD TRIAL MONTH AFTER I HAD MADE ALL PAYMENTS I RECEIVED XXXX LETTERS ON THE SAME DAY FROM WELLS FARGO. THE FIRST THANKED ME FOR APPLYING FOR THE MORTGAGE ASSISTANCE. THE SECOND CONGRATULATED ME FOR BEING SUCCESSFUL IN MY APPLICATION. THE THIRD SAID MY PAYMENT WOULD BE RAISED ON THE NEXT PAYMENT BY $ XXXX- {$300.00}. I CALLED AND TOLD THEM THAT THEY HAD ALL MY FINANCIALS AND THEY KNEW I COULD NOT DO THAT PAYMENT. FURTHERMORE I ASKED WHY DID IT RAISE AFTER THE TRIAL IS BARELY DONE. THEY SAID IT WAS THE INSURANCE, I SAID NO BECAUSE THE INSURANCE WAS THEIRS AND WAS A FLAT YEARLY RATE. SO THEY SAID IT WAS THE TAXES, TO WHICH I SAID THE TAXES WERE SET YEARLY AND ACTUALLY WENT DOWN, SO NO CAUSE FOR A RAISE, IN FACT JUST THE OPPOSITE. THEY COULD NOT GIVE ME A REASON SO I STOPPED BECAUSE THE NEW PAYMENT WAS OVER STRETCHING ME. I OFFERED TO CONTINUE TO PAY WHAT I COULD BECAUSE I WANT MY HOUSE TO RAISE MY FAMILY.. THEY SAID NO IT WAS THE WHOLE NEW PAYMENT OR NOTHING. I AM HAVE BEEN TO MEDIATION TWICE AND BOTH TIMES THEY THANK ME FOR GIVING THEM ALL INFORMATION BUT NOTHING COMES TO FRUIT. NOW IN XXXX XXXX A JUDGE IS GOING TO RULE ON IT AND MY LAWYER SAYS IT LOOKS BAD AND I SHOULD EXPECT TO SELL. THE BANK HAS SAID UNLESS I COME UP WITH {$100000.00} UPFRONT, I WILL BE RULED ON.WITH A BALANCE OF XXXX. THIS INCLUDES THERE LAWYERS FEES. EMOTIONAL PART : I DID NOT BUY THIS HOUSE TOO MAKE MONEY BUT TOO RAISE MY FAMILY OF XXXX PEOPLE. I HAVE TRIED ALL THE RIGHT THINGS, WITH OPEN COMMUNICATIONS AND WANTING TO PAY WHAT I CAN, EVEN THROUGH THE TOUGH TIMES OF NO JOB, DWINDLING SAVINGS AND SOARING INTEREST RATES. I TRIED TO REFINANCE 6 MONTHS BEFORE I SAW ME FALLING FLAT, THE BANK HAS NOT PLAYED NICE. I EVENTUALLY WAS SO UPSET THAT I WENT TO WELLS FARGO ON XXXX XXXX AND OFFERED THEM THE KEYS AND REMOTES AND TOLD THEM I NEED HELP ... .BUT IF NOT HERE IS EVERYTHING. THEY SAID NO AND IT WILL BE WORKED OUT. I AM CURRENTLY NOT LATE ON ANY OF MY OTHER BILLS AND EVEN WITH THE BANK BATTLE AND MANY NON PAYMENTS ..ONLY BECAUSE THAT IS THE ONLY TIME THEY LISTEN MY CREDIT SCORE IS XXXX. THE BANK IS JUST NOT TRYING AND HURTING MY EFFORTS TO KEEP MY HOUSE. AT THIS POINT I WOULD LIKE THE BANK TOO BE PRO HELP, MAYBE OFFER A PRINCIPAL REDUCTION AND HELP ME TOO BE PAYMENT PRO ACTIVE SO I CAN KEEP MY FAMILY IN MY HOUSE. MY APOLOGIES FOR THE LARGE FONT, I SEE BETTER. IT HAS BEEN 10 YEARS AND I STILL WANT TO KEEP MY HOUSE AND THE FRUSTRATION OF WORKING WITH WELLS FARGO HAS BEEN TRYING. PRESENTLY THEY SAY NO TO ANY ASSISTANCE BECAUSE THEY SAY I AM MAKING OVER {$8000.00} A MONTH. NO IDEA WHERE THEY GOT THAT FROM. PLEASE HELP!

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