Consumer complaint received 2019-03-27
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY (MT)

In XX/XX/XXXX I spoke with Wells Fargo about a pending XXXX   XXXX and retiring from my work of 24 years as a result. On XX/XX/XXXX I retired. Throughout XXXX, XXXX, XX/XX/XXXX I submitted paperwork of what my income would be after retiring and on XX/XX/XXXX I received a Forbearance Agreement whereby I would pay {$25.00} per month for XXXX, XXXX and XXXX of XXXX. At the end of that period I again spoke with Wells Fargo representatives and reiterated that I needed a permanent reduction in my mortgage payment. In XXXX of XXXX, I received a Trial Period Plan for XXXX, XXXX and XXXX payments. On XX/XX/XXXX I received Loan Modification paperwork, but I had many questions which were not answered before the deadline for this modification. Calls to Wells Fargo representatives went unanswered and the deadline passed. A letter was sent to the representative on the loan modification paperwork with my questions with a copy sent to my customer service representative. I did not hear from either one. In XX/XX/XXXX I was assigned a new customer service representative and a letter was received from a WF rep saying they were looking into my questions. At the end of XXXX, a second loan modification request was submitted. A letter for trial period payments to begin In XX/XX/XXXX was received in XXXX, however, the same questions remained as I had not gotten any answers ( questions included principal balance shown in the modification agreement, where had payments already made been applied, why they weren't using the income figures submitted on the applications/it was being multiplied by a formula designed to arrive at the gross figure but the gross figure was verified by social security ). The modification was denied in XX/XX/XXXX, An appeal was filed which was also denied. After a phone call with their escrow department in XX/XX/XXXX, I submitted paperwork for a third modification. Received a letter involving short sale option dated XX/XX/XXXX. On XX/XX/XXXX I had a LONG conversation with an executive representative who finally explained the questions I submitted after the first trial period in XX/XX/XXXX. Third modification was denied despite my explanations of why I had not accepted the first two offers ( third modification requested a return to the first modification offer, if possible ). Appeal submitted and denied. I now owed a little under 24,000 and my credit was in the tank. 

1. I apparently have a XXXX XXXX loan which would have been eligible for HARP at the time I asked for a lower payment. Is it not the lender 's responsibility to lay out this option? 

2. The monthly payment returned to 93.25 % of my monthly income. 

3. To avoid foreclosure, I withdrew IRA funds to pay the balance owed. This amounted to half of my retirement cushion. 

4. The HARP program expired in XX/XX/XXXX 5. Because the modification process results in delinquent credit reporting, I am not eligible to try and refinance at this time. 

I feel lenders owe their clients to discuss ALL options when trying to reduce their payments. When a client has made payments on time, every time for the length of the loan, I do not understand how they can be denied a modification, especially with good reason.