Consumer complaint received 2016-09-30
Product: Mortgage — Other mortgage
Issue: Loan modification,collection,foreclosure — 
Company: WELLS FARGO & COMPANY (SC)

To whom it may concern : I closed on my home with XXXX in XXXX XXXX with an interest only loan for $ XXXX at 6.625 % interest based on a handwritten estimate of my anticipated income by the end of my first year as XXXX of a XXXX XXXX. Within 90 days after our closing, my mortgage was sold to the Wells Fargo/XXXX. We managed to pay $ XXXX in timely payments ( Interest and Escrow ) between XXXX and XXXX despite the fact that my income never reached what was estimated. My net earnings between XXXX and XXXX were at times less than XXXX percent of what was " anticipated ''. XXXX XXXX through XXXX XXXX I was without pay and emergently relocated to XXXX, SC where I was able to secure a guaranteed salary. I carried with me over XXXX XXXX dollars in debt due to my practice related investments and home value being devastated by the economic downturn. This debt included over $ XXXX in credit card debt which we accrued as we supplemented our monthly deficit and paid our mortgage on credit. My family and I lived in XXXX, SC for 3 years before returning to XXXX in XXXX. While in XXXX, we totaled over $ XXXX monthly outgoing expense. Our combined income was approximately $ XXXX per month so I took XXXX additional shifts each month XXXX to supplement. Between XXXX, we were verbally denied a rate reduction or refinance. We attempted and failed to sell the home XXXX. Our first loan modification ( XXXX ) application was tabled after 10-12 months of our TIMELY submission of what was often duplicate information WITHOUT RESPONSE REGARDING A DECISION. The decision was tabled by Wells Fargo in the summer of XXXX pending receipt of requested documents including a divorce decree and Quit Claim Deed. A short sale was attempted and failed after 18 months when the potential buyer withdrew their offer due to a poor inspection. I attempted the loan mod again in XXXX XXXX immediately following the failed short sale. Although my ex-husband and I had lived lived separate since XXXX, the mod was processed with consideration of combined income despite the court document stating that " if either party attempted to keep the home, then that individual would assume responsibility for any deficiencies ''. I had moved out of the home in XXXX and then returned in XXXX. I restored the property to its ' former well kept state after days of interior and exterior cleaning as the home had been neglected. I complied with all requested submissions per Wells Fargo from XXXX XXXX through the spring of XXXX -- at which time a loan modification was offered on the terms of 3 payments over 90 days totaling over $ XXXX and consideration for a permanent modification thereafter. I appealed this decision and requested that the original note amount ( $ XXXX ) be financed at the current jumbo rate. I received no response to this appeal and found out when I called Wells Fargo that our loan had been turned over to a " re-entry team '' ( XXXX XXXX ). In XXXX XXXX another auction date was set for XXXX XXXX which I appealed to the court for an extension. I received no written or verbal notice as to the date of the XXXX XXXX auction and only became aware less than 24h prior. I relisted the property for short sale in XXXX XXXX. We had a ratified contract for $ XXXX ( previously approved by Wells Fargo ) 11 days prior to the auction sale where the contracted buyer won the bid at $ XXXX. I spoke with XXXX XXXX the day prior to the sale and XXXX XXXX the evening after the sale. I was lead to believe that the executive office was considering a reversal of the sale. My XXXX children and I were evicted and homeless as of the first week of XXXX XXXX. I am a XXXX, a mother, and a law abiding citizen who has been the victim of predatory lending, dual tracking, and illegal foreclosure at a minimum.