Consumer complaint received 2016-08-10
Product: Mortgage — FHA mortgage
Issue: Loan modification,collection,foreclosure — 
Company: WELLS FARGO & COMPANY (ME)

To whom this may concern at Wells Fargo, In the XX/XX/XXXX, my husband was relocated for work and after many attempts to sell our property located at XXXX XXXX XXXX XXXX NY, we learned that the property was significantly underwater. We attempted to rent the property, however the average rent for such a property was approximately {$1000.00} less than the mortgageXXXX/Tax combined payment. We agreed to renters and absorbed the loss until XXXX XXXX, when the renters moved out. At that time we began to pursue a short sale. The process was long and arduous. In XXXX XXXX, I believe, we were served paperwork indicating that the foreclosure process had begun. NY is a dual track state so this was understandable. In XXXX XXXX, we went to court mediation where it was determined the process would be halted to allow for a determination of short sale. The short sale later fell through due to complications with the buyer ( the builder of the subdivision defaulted, causing the XXXX to default, no mortgager would approve ). In XXXX we were offered an all cash offer for {$280000.00} ( an obvious short sale ) and after many months, it was accepted at {$280000.00} in XXXX XXXX. The buyer did not agree to the extra {$5000.00}, and chose to walk away. In XXXX of XXXX, we received another all-cash offer for {$280000.00}. After many months, and repeated submission of the same documents over and over again, our short sale offer was declined in XXXX XXXX. Nothing had changed for us financially ; in fact I was expecting our first child at the time which negatively impacted our finances. In XXXX XXXX the bank suggested Cash for Keys agreement. Completely heartbroken and dejected from the declination, we signed the agreement and agreed to vacate the home within 7 days of receipt of the document. It was my understanding that upon the CFK agreement, I waived my right to contest the foreclosure, essentially expediting the foreclosure process as there was now no need for the plaintiff ( my husband and I ) to go before a judge. Wells Fargo however would be responsible for filing the motion to continue the foreclosure with the court and allow the process to proceed. As of current, Wells Fargo has not submitted the motion, leaving us still responsible for the home and the maintenance despite having to leave the property per the CFK agreement. Why was I forced to vacate the property immediately, only for Wells Fargo to drag their feet in submitting the appropriate documents to the court? I technically still own a home that I am no longer able to access ; all while I am still responsible and must pay for upkeep and maintenance. I understand that once the motion and documentation is filed, the process is at the mercy of the judge ; however Wells Fargo has not submitted this paperwork to the court in the three months in which it has had the signed agreement. This experience has been horrible and all I want to do is move on and begin to recover. It has caused so much undue stress to me and my family. When I signed the CFK document, I did so believing that Wells Fargo wanted the foreclosure to occur. It seems like Wells Fargo is stalling for some reason, but none the less I do not feel they are keeping up with their end of the CFK agreement. All I ask is that Wells Fargo submits the needed paperwork to the courts timely so the foreclosure process can continue rather than stalling for some unknown reason.