Consumer complaint received 2015-08-01
Product: Mortgage — Conventional adjustable mortgage (ARM)
Issue: Loan servicing, payments, escrow account — 
Company: WELLS FARGO & COMPANY (MD)

In XX/XX/XXXX, I contacted Wells Fargo to make a payment on my mortgage and at this time I was asked if I want to do a loan modification to get off my interest only loan. I told the representative that I was not behind on my mortgage and had good credit so I was not interested in doing a loan modification. He advised me to do a loan modification to lower my payment. The representative assured me that there are XXXX type of loan modification programs, XXXX for individuals who are behind on their mortgage payments and another for individuals for individuals who are current on their mortgage. He advised me I should do the latter of the XXXX. We went through all my financial information and at the end the representative advised me I was eligible for the program and advised of my new payment for the " life of the loan ''. The amount was lower than my current payment so I did ask many questions to confirm that this was all correct. The representative advised that I would not need to make a payment the following month and then only a small payment the next month but on the following month my new payment would start. All payments were sent up via Wells Fargo pay by phone system to which I have all tracking numbers and dates. The representative told me to call back every XXXX weeks to ensure I receive the proper paperwork that was needed. I did as I was told, I called back in two weeks and had all the information verified by the following representative that I talked to. I maintained everyone 's name and badge ID every time I called in to Wells Fargo. I never received the " paper work '' that I was advised I should have received and continued to call every XXXX weeks to follow up. After I period of time, I started receiving collection calls and letters advising me of my delinquent status. This was the exact reason why I never wanted to do the loan modification. I was not delinquent on my mortgage when I initially called and at this time I was more than XXXX days delinquent due to the advisement of the Wells Fargo representatives. 
Eventually, I would receive foreclosure letters and would talk to " many '' Wells Fargo representatives that would give me varied responses. I was told at XXXX point I was dropped from the loan modification program due to no payment. I never missed a payment, as they were all set up through Wells Fargo pay by phone system. All along I was told that I should have received some paper work to fill out, but was still not receiving. However, on a weekly basis I was faxing in financial reports to Wells Fargo but receiving nothing from them. It was not until I finally called my attorney and was advised to put his name on the account that the paperwork showed up at my house and a representative was able to finalize the loan modification process. While this would sound great, this caused great damage to my credit history as my mortgage loan fell severely delinquent, I was not able to get any other credit during this time and there after with good rates and the payment that I was told was far from the amount I was originally given. 
This process lasted from XX/XX/XXXX until XX/XX/XXXX. Almost XXXX years of stress that was not necessary. During this time and since then my credit history has severely been damaged and I do not know if I will ever be able to recover. 
While what I have stated above could never actually give anyone a real picture or feeling of what I went through that time, I am hoping that somehow Wells Fargo can reconcile this situation.