Consumer complaint received 2024-12-06
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: WELLS FARGO & COMPANY (NJ)

XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XX/XX/XXXX To Whom It May Concern, We are writing to formally file a complaint against Wells Fargo Bank for its mishandling of the foreclosure of our home, which has caused immense and lasting harm to our family. The loss of our home after XXXX  years of residence was not only unjust but has also left our familyespecially our XXXX childrenemotionally and financially devastated. 
This letter outlines the timeline of events and the enduring consequences of Wells Fargo 's actions. We aim for this accounthighlighting Wells Fargo 's systemic failures and lack of regardto be taken seriously, ensuring appropriate compensation for our financial losses and emotional distress. 
Background and Financial Challenges Our financial difficulties began with the closure of XXXX XXXX due to a Base Realignment and Closure ( BRAC ) process. This led to my husband, XXXX, losing his jobnot because of misconduct, but because the base closed. XXXX had been an award-winning professional with a stellar reputation, and the job loss was a direct result of circumstances beyond our control. Most of XXXX XXXX employees were offered positions in Maryland, but the XXXX XXXX  there did not have a golf course so there were no opportunities for him there. XXXX was asked to stay on as General Manager of the golf course by the management company that the State had hired. XXXX agreed to their proposal, and they scheduled a meeting to finalize terms after the XXXXXXXX XXXX closure. However, when the management company came to the meeting, they only offered him one-third of his previous salarya figure that was not livable. 
Despite this setback, we worked tirelessly to meet our obligations. For the first two years after the closure, we continued to pay our mortgage. Three months after the base closure, we began contacting Wells Fargo to request a reduction in payments to stay current. Our goal was to hold on to our home, but our requests were repeatedly ignored or dismissed. We again approached Wells Fargo when we could no longer make payments. Every interaction led to a circular conversation with no answers. We were constantly told different information, our calls were not returned, and ultimately we were transferred from person to person. Eventually, we were told that if we made XXXX months of good-faith payments, they would reduce the payment. We did so, but after multiple conversations over several months, we were denied a reduction again. 
As XXXX sought employment, he faced repeated challenges. He was repeatedly told companies could not afford him, and if he applied for a lower-level job, he was questioned as to why he would settle. Worse, as we neared foreclosure, XXXX was on the brink of securing a very good job opportunity. However, the hiring XXXX, after hearing rumors about us and our nonprofit organization, withdrew the offer. These rumorsfueled by the foreclosure and the public damage to our reputationcast an unfair shadow over our otherwise impeccable track record. 
Our nonprofit had served the community and beyond working with the state and numerous school systems with award-winning work with teens and local hurricane XXXX relief XXXX The nonprofits numbers were consistently strong. Yet, the foreclosure and its fallout left us facing unwarranted scrutiny. The damage to our reputation impacted not only XXXX job prospects but also the viability of the nonprofit itself. We had built the organization on integrity and hard work, but the stigma associated with the foreclosure eroded years of trust, further compounding our financial and professional struggles. 
During this period, both my husband and I worked multiple jobs to make ends meet. Sadly, XXXX months after the foreclosure, we each had decent full-time positions and would have been able to maintain the mortgage payments had we been given the opportunity. At one point, we even considered trying to repurchase the home after the foreclosure, but my father, who had previously offered financial help, refused to assist further. He was appalled by Wells Fargos dishonesty, unprofessionalism, and inconsistencies throughout the process, which ultimately deterred us from pursuing this option. This situation added strain to our relationship with my father, and it took over a year to begin to repair the damage caused by the tension and disappointment surrounding this ordeal. 
We had to move XXXX XXXX  away because we only had a week to find a home. We stayed there for 8 months and then found a rental back in our town, but for {$1100.00} more than our mortgage was plus storage. For XXXX years, we lived in that expensive rental with an awful landlord, paying {$3500.00} a month in rent and an additional {$450.00} a month to store our furniture. Finally, we found a more affordable rental in a different town, but it came with its own set of challenges. While the rent was lower, the public schools in the area were not up to par, so we had no choice but to pay for private XXXX school for our children. This added another significant financial burden to an already overwhelming situation.Not to mention emotional challenges for the kids forced to change schools and leave friends.

Timeline of Wells Fargos Negligence and Mismanagement Unfortunately, we do not have all of our paperwork from these interactions. We have moved three times since we were forced out of our home and no longer have that file. We did not think it was necessary to keep after seven years. Seven years and two months after the foreclosure, we received a {$200.00} check. That when we started searching to see what was going on. We had never been contacted by Wells Fargo to say there was a settlement. The emotional distress this kicked up again has taken us almost a year to pull together the information we are submitting with this letter. What we have included is what we could pull from old emails with my father : Fall XXXX : XXXX XXXX closed. XXXX was asked to stay by the state 's management company but was ultimately only offered one-third of his salary, so he decided to look for work elsewhere. 
XXXX XXXX : We called to request reduced payments. 
XXXX XXXXXXXX : We could no longer make payments and called again. 
Late XXXX  XXXX : Wells Fargo advised us to make XXXX good-faith payments, promising they would negotiate with us afterward. We complied, but they never followed through on their promise. 
XX/XX/XXXX : XXXX  called Wells Fargo to request a reduced payment plan. The bank refused to negotiate unless he secured a new job and paid all penalties and fees upfront. 
XX/XX/XXXX : We retained legal counsel to assist in our negotiations with Wells Fargo. Despite multiple attempts, the bank refused to confirm our lawyers representation. 
XX/XX/XXXX : My father offered to pay off the arrears in full if they would negotiate. We submitted the required proof of funds, but Wells Fargo never responded. 
XX/XX/XXXX : Our lawyer suggested a short sale. We did not want to do that but inquired anyway. Wells Fargo sent us to multiple representatives who had no idea this was a possibility. Days later, another representative contradicted this advice, leaving us confused and without options. 
XX/XX/XXXX : We received notice from the sheriff that our house was scheduled for auction. Our lawyer requested a postponement, but Wells Fargo ignored the request. 
XX/XX/XXXX : Wells Fargo provided incomplete loan history records and refused to issue a reinstatement letter, even though we were willing to pay the arrears. 
XX/XX/XXXX : On the day of the court ruling, XXXX requested more than 10 days to vacate the home, citing our 28 years of residence and the logistical challenge of relocating XXXX children and decades worth of belongings. The Wells Fargo attorney callously responded that we had XXXX years to figure it out, dismissing our plea without any consideration of our circumstances. 
XX/XX/XXXX : After over a year of conflicting information and lack of cooperation, our lawyer was forced to withdraw from the case. 

XXXX and XXXX XXXX In XX/XX/XXXX, we were ordered to vacate our home. Despite explaining the difficulty of relocating a family of XXXX, the court refused to XXXX an extension. Our belongings and the memories of 28 years were unceremoniously uprooted. On eviction day, Wells Fargo 's attorney sent XXXX unmarked vans with a crew of men and armed officers in bulletproof vests. The excessive show of force was not only unnecessary but deeply traumatizing for our family. 
Generational Wealth and Financial Devastation Generational Wealth and Financial Devastation XXXX of the most devastating aspects of this foreclosure is that it stripped our family of the opportunity to pass down generational wealth. Our home was not just a house ; it was an investment we had intended to leave to our children. We moved into the house in XXXX, when our oldest son, now XXXX, was XXXX, renting it for XXXX years before purchasing it in XXXX. Over 28 years, we worked hard to build equity and create a legacy for our family. 
When we were forced to leave, the home was valued at {$500000.00}, but after the XXXX housing spike, its value has risen to {$1.00} millionfar beyond our reach. We will never be able to move back to XXXX at those prices, and we now have nothing to leave our children and grandchildren. XXXX XXXX actions erased that possibility, forcing us to move far from the community we loved and into rentals with exorbitant costs, depleting any chance of financial recovery. 
XXXX XXXX and Emotional Toll The aftermath of this foreclosure continues to haunt every part of our lives, leaving us with ongoing financial and emotional burdens that feel insurmountable. 
Housing Instability : Since the foreclosure, we've had to move multiple times, each move costing us more than the last. For XXXX years, we lived in a rental where the rent was {$3500.00} per month, plus an additional {$450.00} per month to store our furniture. The landlord was difficult and uncooperative, further adding to our stress. After this exhausting period, we found a new place to rent in a different town with lower rent, but the schools in that town were inadequate. We were forced to pay for private XXXX school tuition for our children, adding yet another layer of financial burden we hadn't planned for. 
Displacement of XXXX : This move also forced our children to leave their schools, their friends, and the community that had been their home for years. Their sense of stability was shattered, and the emotional toll has been immense. XXXX daughter developed severe anxiety, not being able to sleep in her own bed for a year and losing hair. XXXX of our sons, overwhelmed by the changes, fell in with the wrong crowd, started drinking and using drugs and later faced life-threatening mental health issues. 
Educational Setbacks : The instability and stress from all of this was simply too much for two of our children, who both dropped out of college. They couldnt keep up with their studies, and their emotional health deteriorated as they struggled to cope with the constant upheaval in their lives. 
This experience has not only cost us financially, but it has also deeply affected our children 's future and well-being, leaving scars that will be felt for years to come. 
Recent Interactions with Wells Fargo Seven years after the foreclosure, we received a {$200.00} check as part of a class-action settlement. This insultingly small amount does not reflect the scale of our loss or the ongoing harm caused by Wells Fargos actions. Subsequent attempts to contact Wells Fargo have only been met with dismissiveness, with no resolution or acknowledgment of their wrongdoing. 

Our home was more than just a buildingit was the center of our familys life, our memories, and our future. I still can XXXX XXXX by the home without tears. Wells Fargos negligence and failure to follow through on its commitments have left us financially ruined and emotionally scarred.

We request compensation for the immense financial and emotional toll this foreclosure has caused. We believe that justice demands not only acknowledgment of Wells Fargos failures but also tangible reparations to restore some of what our family has lost. 
Thank you for your attention to this matter. 

Sincerely, XXXX and XXXX XXXX