Consumer complaint received 2015-05-04
Product: Mortgage — Conventional fixed mortgage
Issue: Loan modification,collection,foreclosure — 
Company: WELLS FARGO & COMPANY (IL)

XX/XX/XXXX contacted Wells Fargo to let them know I was under financial stress, it there was anything they could assist with. Was told they can not do anything until I start missing my payments. In XX/XX/XXXX, I could no longer afford to pay the mortgage on my house. XX/XX/XXXX I requested assistance from a House counseling company, HUD approved. The company did specify, it will only act as a third party, document collection point and forward files to Wells Fargo. While this process of gathering details was going on, Wells Fargo informed me, they only service the loan, but actual loan was owned by private investors. They took me to court went to mediation but lack of expertise of the lawyer that was assigned to us by a volunteering lawyers organization, mediation did not get no where. Wells Fargo representatives told me that if I could bring the account current they could consider, but they did not feel it will work because I do not earn the income I need to make payments on the loans. My debt to income ratio will not allowed. I only asked if they could temporarily for remaining term of the loan allow {$1000.00} payment and what ever balance was then due we will paid it off as a balloon payment. They rejected the suggestion and it was the end of the case in court. With your assistance, they were willing to review my case again. But for the last year they had been asking for documents ( paycheck records ) just to come up to the same conclusion of denial due to lack of income. I feel they had been pushing the case for too long to make my outstanding balance to bring account current much harder to bring it current and force me into foreclosure. From the beginning, I felt I was just ball they can toss back an for to make time so they get a better shot in getting my house into their basket. I do not feel they ever got the interest of helping me out but instead pretend they are playing by the rules, and if I fail to deliver a paper, they will have something to complaint about. This company as many others got help from the government. I was not asking for a hand out, I only want them to extend the time for the loan so, I could have more affordable payments. If I had the money, I would file sue against them. They pretend they are willing to work with us to save our home, however, they are only trying to continue to extend the time so, they enlarge the amount of the loan and they can get more juice out of us either due to additional legal, late charges, more interest added to the loan or by forcing us to get our house sold on what ever they need to get their money. The balance of my loan at the time this issue started was only $ XXXX, now just to bring the amount current they want about $ XXXX or to close the account off I need $ XXXX about. Either way they are winning every day that goes by. While on the other hand, I am having XXXX, my XXXX is being affected, the equity that I was trying to build in my house is diminishing everyday, my memories, my children memories are being taken away. Wells Fargo is ripping off of everything including our health. I owe to much to bring current in a single shot without assurance that they will consider a modification. Thru a letter I sent to them, did ask to get this settle for the $ XXXX that was the balance of the loan and thru a lawyer, was told that is not for consideration. So, they are considering ripping-off me and my family and leaving us in the street just because the loan is owned by private investors, am sure they did not give that into consideration while they were asking the government for financial assistance.