Consumer complaint received 2021-05-14
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: WELLS FARGO & COMPANY (NC)

I am the founding director of a small educational 501 ( c ) ( 3 ) nonprofit organization in NC. I was in foreclosure in XXXX of XXXX, however in the fall of XXXX my nonprofit had began conversations with a major NC University about establishing a collaboration with them, which would have provided me with a secure income and put me on firm financial footing again. My mortgage is through Wells Fargo and XXXX  XXXX. 

Because of Covid, these conversations came to a halt in XXXX of XXXX. Both my nonprofit and I experienced severe - additional - financial hardship because of Covid. This Covid hardship continued throughout the past fourteen months, which made it impossible for me to come current on my mortgage. 

I asked for and received a three month Covid forbearance from Wells Fargo in XXXX of XXXX, and I asked for and received three more three months Covid forbearances subsequently. 

Around the XXXX of XXXX of XXXX, I asked Wells Fargo for an additional three months Covid forbearance. I wasn't able to request it automatically on the Wells Fargo website, as I had been previously, I had to speak with a Wells Fargo CSR. 

The Wells Fargo CSR couldn't initiate a forbearance for me either, and she spoke with her supervisor. Her supervisor said he would initiate a forbearance for me, and I would receive a letter to that effect within a week. At the end of a week, I hadn't received the letter, and around the XXXX of XXXX I called and spoke with another Wells Fargo XXXX. She said I hadn't requested a forbearance the week before, but she would initiate XXXX for me, and I should receive a letter within a week. 

A week later, I still hadn't received a letter, but on approximately XX/XX/XXXX, I received a phone call from XXXX XXXX at Wells Fargo who said I couldn't receive another Covid forbearance because I had been in foreclosure prior to the initial Covid forbearance in XXXX of XXXX, but there were other forbearances XXXX could give me, and if I submitted an online application, she was certain I would receive between a three months and a six months forbearance. 

At the end of XXXX, I received a letter from Wells Fargo dated XX/XX/XXXX, saying I didn't qualify for a loan modification, and suggesting I accept a short sale or a deed in lieu. The letter didn't say anything about a forbearance. 

I hadn't asked for a loan modification, and it didn't seem at all wise financially to accept a short sale or a deed in lieu, as the value of my home as determined in the first week in XXXX of XXXX by Wells Fargo was {$390000.00}, and I only owe {$31000.00} in total on my home. Furthermore, I would like to keep my home. 

On XX/XX/XXXX, President Biden announced additional Covid forbearance protection for homeowners of six months, beyond the initial twelve months enacted by the Cares Act in XXXX of XXXX, for up to a total of eighteen months of forbearance, On the XXXX website and the CFPB website, it says if a mortgage is backed by Fannie Mae or XXXX XXXX, my mortgage is backed by XXXX  XXXX, and if the homeowner was in an active forbearance plan as of XX/XX/XXXX, as I was, then the homeowner may request two additional three months forbearance extensions, up to a maximum of eighteen months forbearance.,