Consumer complaint received 2016-04-21
Product: Mortgage — Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure — 
Company: WELLS FARGO & COMPANY (WI)

Due to extreme hardship, I have repeatedly tried to work out a loan modification to keep my home, only to have Wells Fargo ( WF ) give me the runaround. My home is currently in foreclosure with a sheriff sale set for XXXX/XXXX/XXXX. I started working with XXXX XXXX a Foreclosure Prevention XXXX XXXX on XXXX/XXXX/XXXX. 

XXXX. During XXXX of my Loan Mods, XXXX XXXX, my Attorney, XXXX XXXX XXXX, was notified of a loan {$210000.00}, 2 % int, at XXXX yrs. I was told I did n't qualify, I did n't make enough money. I got a renter in XXXX XXXX, this added {$600.00} to my monthly income, I got a signed rental contract, money order stubs, rental deposits in my bank acct, this was all sent to WF. I repeatedly asked for this to be revisited, to get a copy of this loan in writing, along with how they figured the equation. I never received anything. 
2. WF did an XXXX on my home, stated it was worth {$290000.00} on XXXX/XXXX/XXXX. I spoke to my Home Preservation Specialist ( HPS ), XXXX XXXX XXXX about having an appraiser walk through my home. WF agreed on XXXX/XXXX/XXXX to have me pay for an appraisal. I got XXXX from XXXX CT Appraisals, a formal appraisal was done & stated its value is {$160000.00}, a difference of {$130000.00} from the AVM.I built it during the housing bubble & it has steadily lost value. 
3. I was advised to make 3 good faith payments of {$1800.00} starting XXXX/XXXX/XXXX - XXXX/XXXX/XXXX, which I did. I repeatedly told them this amount was not sustainable long term. During this time they were to review my modification. On XXXX/XXXX/XXXX I received a new loan mod of {$310000.00}, {$1800.00} mo, 4.125 % int, for XXXX yrs. My new XXXX, XXXX XXXX XXXX, pushed me to sign it. I did not. During the XXXX of XXXX I repeatedly called, asked him many questions, I wanted to be sent certain documents he said he would look into it, & call me back, he never did. I called him weekly. I was never given any info on how under a hardship they could come up with this new loan mod amount. 
4. On XXXX/XXXX/XXXX, I spoke to XXXX XXXX from WF. She informed me the appraisal was never looked at. It was received after the date that all of the XXXX XXXX paperwork was due. During that time, I was working with XXXX XXXX XXXX. He told me several times over the phone not to worry about the deadline, to get the appraisal done & all of the paperwork sent in. I sent it as soon as the appraisal was done. I was never made aware that the modification packet was turned in late. It was my understanding when I turned everything in, it would be looked at for review. This is what XXXX XXXX XXXX led me to believe. 
5. Over the phone, Apr XXXX, I was told of another modification {$220000.00}, 2 % int, XXXX yrs, a {$95000.00} forbearance, 30 % reduction that was offered in XXXX XXXX. This was the first I had heard of this, I never got anything in writing or over the phone in XXXX XXXX. I was notified in XXXX XXXX that I did not qualify for the loan, I did n't make enough money. My debt to income ratio was n't low enough. I was in the upper 30 % and needed to be at 31 %. They keep changing the % that I need to qualify, they wo n't share with me how they have come up with these numbers, so I can help figure out a solution. If I do n't qualify for these smaller, affordable loans, how am I to qualify for a loan that puts me in a 59 % loan to debt ratio? 
6. They are now saying they wo n't accept my renter, she does n't have mail sent to the home. In the year she has been renting, it has never been brought up. She has made the necessary address changes, but the new statements wo n't be available until the end of Apr XXXX. WF says they need this for proof of occupancy, & wo n't move this forward for review into the re-entry dept. Even though they wo n't accept her as a renter, they are saying they will keep the {$600.00} rental fee as part of my income, because they have proof that I am receiving this, a catch XXXX. How can they have it both ways and this be legal?