Consumer complaint received 2021-11-22
Product: Mortgage — FHA mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY (OH)

This complaint is about my experiences with XXXX XXXX pursuant to a COVID assistance program. I entered into this program earlier this year in XXXX and was in it for a total of XXXX months. However, of this period I only missed my mortgage payments for XXXX months. I decided that I can return to making my mortgage payments after this XXXX month period ( though only when I have sufficient funds and not by their deadline date always ) and notified the bank of this. I have been making my mortgage payments since XXXX of this year. I logged into my online account to pay it last week and could not figure out what was going on. I saw a series of applied funds and it said that my last payment was on XX/XX/XXXX. I decided that I would call the bank to figure out what was going on before I make XXXX 's payment. 

When I exited the COVID assistance program in XXXX, I was subjected to a process which includes an interview and filling out some paperwork to determine how I can proceed to catch up on the XXXX missed payments ( totalling {$3000.00} plus ). First problem- I was told to fill out paper work which was the incorrect kind for the type of loan that I had. I was given paperwork to fill out which was to be used by persons with a private lender. I have a XXXX  loan. I believe this process was started in XXXX or XXXX. I was told the bank will take a look at all the information and documents I submitted and let me know what options are suitable for me. I never heard anything until XXXX after this. I was mailed a package with a note that I need to sign urgently and return the signed documents to the bank by the XX/XX/XXXX. This packaged contained loan modification information and terms. This was a shock to me because I did not ask for it and had no idea this was being done. Anyways I reviewed the new loan terms and realised that my interest rate was lowered along with my monthly payments. My XXXX missed payments were incorporated into the new loan. I found this too good to be true and pulled out my calculator. 

My loan was modified and extended XXXX years at a lower rate of XXXX XXXX. By my calculation, this new loan was costing me an additional {$90.00} XXXX minimum. ARE YOU KIDDING ME!!!! Why do I have to pay {$90.00} XXXX for missing XXXX payments????? Is this what the federal government intended with the different COVID assistance programs??? How is XXXX XXXX profiting off of this??? Why can't I simply pay back my XXXX missed payments without such a large amount of interest being paid to XXXX XXXX??? I called the bank with all of these questions and let them know that I will not be signing such a deal. They needed to present a more sensible option to me. After this phone call to the bank, I was assigned a different home preservation specialist on XX/XX/XXXX ( this is another problem. It's like these specialists don't exist in reality. I can never get in contact with anyone that I am assigned to ). Anyways, while on the phone the day prior I was told everything will be reviewed and there is no need for me to resubmit any documents because everything is on file. I continued on as usual making my payments until I tried doing so this month. Since my last phone call to XXXX XXXX, I heard nothing from the bank. 

I called the bank on XX/XX/XXXX to get help and explanations about what is going on with my account based on the strange things I was seeing online. I first dialed them at XXXX. I never got off the phone completely until about after XXXX. In all I spoke to about XXXX  different persons the majority of whom could not explain to me what exactly is going on. 

In the end I spoke to someone ( XXXX XXXX who claimed they work in the home preservation department. She let me know that my account was removed from the forbearance program and I now owe XXXX XXXX {$4000.00} plus dollars ( they are in the process of collecting this debt from me apparently ). I, of course, asked why was I taken out of the forbearance program? Why this action now?? I was told because I did not sign the required documents. But I never received any documents to sign recently. I have been waiting for someone to contact me to discuss options this entire time!!! 

I now understand the issue. XXXX XXXX does not discuss options with their customers. We are just supposed to take what they present to us. I have a problem with that stance because this bank does not care about poor people. They take advantage any chance they get. So because I did not accept the first terms they presented to me in XXXX they just decided that's the end of any possibility of assistance. But why should I accept such a horrible deal?? Why can't my current loan be extended by the XXXX payments I missed? Why couldn't XXXX XXXX pay it forward and actually try to help customers this round. Lower my rate. Lower my monthly payment and not stick me with an additional {$90.00} XXXX to pay them. I will take a lower rate and lower monthly payment but not for a XXXX more than the XXXX payments I missed. All of this I told them when I called in XXXX. But when I was thinking they were working on my case instead they just terminated everything without informing me or having any type of discussion with me. 

This is atrocious. If I could take my mortgage to another bank with more favorable terms and no hassle I definitely would.