Consumer complaint received 12-06-2017 about Mortgage (Conventional home mortgage) with WELLS FARGO & COMPANY (CA).
Issue: Closing on a mortgage

Complaint: To Whom it may Concern, Below is my declaration letter.. 

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- - SUB : Declaration Letter XX/XX/XXXX REF : Loan Rebate Refund To Whom it may Concern, In XX/XX/XXXX we had spoken with XXXX XXXX ( XXXX XXXX ) regarding our loan estimate exceeding our proposed budget. At that time, we had discussed that we were not going to be able to afford the proposed mortgage payment of {$3200.00}, which then turned into a {$3400.00} payment with the included taxes and insurance. 
At that time XXXX had offered a rebate from the loan @ $ XXXX.This rebate was going to be available at the time of the close of escrow. This was going to be deposited in my bank account. This amount was going to be used to offset the cost for the monthly mortgage payment. The plan was to have the {$7000.00} divided into twelve months. After the first twelve months he had offered to refinance the loan to a lower payment. This agreement was also discussed and agreed upon with the real estate agent, XXXX XXXX. It was discussed that part of the rebate was coming from XXXX. XXXX XXXX and XXXX XXXX both work out of the same office within XXXX XXXX XXXX. Unfortunately, there was no written documentation regarding this agreement as it was completely verbal. However, we did speak about this minimally through email. Attached is a copy of the email in which shows the promised rebate offer options from XXXX XXXX. 
The original payment that we had discussed and tried to work with was around $ 2,800.00- {$3000.00}. The monthly mortgage payment ended up being a total of {$3400.00}. At the close of the loan on XX/XX/XXXX, our first mortgage payment was due XX/XX/XXXX of {$3400.00}. 
There have been multiple attempts made to acquire the rebate fund from XXXX XXXX starting two weeks before the XX/XX/XXXX payment. It was my understanding that after the close of the sale that all monies involved were paid ( ex. Previous home owner, both real estate agents and escrow ). 
There has been very little to no response from XXXX XXXX regarding this issue at hand. We have tried all sources of contact including his cell, text messages and even messages left with his office. 
The delay of wiring the money has now continued until XX/XX/XXXX. We spoke on XX/XX/XXXX regarding the delay with the {$7600.00} rebate. He had explained to me that he had a business deal that didnt go well, but promised to deposit {$1000.00} for now. On XX/XX/XXXX I sent a text to ask about the {$1000.00} that was agreed to be deposited. It was again postponed to mid-week of XX/XX/XXXX. On XX/XX/XXXX I noticed, again, that we did not receive any deposit into our account. I texted him on XX/XX/XXXX asking what the status was with the {$1000.00} deposit which he then responded, Ill be sending it within 24 hours sorry for the inconvenience. 
On XX/XX/XXXX I called XXXX office and was told that XXXX was out of the office and unavailable, I left a message. I then called his cell phone and left a voice mail and texted XXXX to inform him of the messages that I left with his office and cell phone. I asked again for status on the {$1000.00} deposit. 
On XX/XX/XXXX I also called XXXX XXXX ( my realtor, XXXX XXXX ) and left a voice mail and sent her a text regarding why neither XXXX or her have contacted me back and the concern about the money. 
On XX/XX/XXXX XXXX texted me back to inform me that she recently had XXXX XXXX and that she has not been feeling good and that she had with spoke with XXXX and that he is still planning on giving the money to you and that she is aware of something going wrong with the loan getting bought from our credit line but that is beside the point we made a deal with you and we will honor it. So dont worry we wont leave you hanging, I will be in touch. XXXX. 
My last conversation with XXXX was on XX/XX/XXXX through text, which he promised to call back. My last conversation with XXXX was onXX/XX/XXXX with a promised call back. Today is XX/XX/XXXX and I have not heard back from either XXXX XXXX or XXXX XXXX and have not received any of the {$7600.00} that was promised and discussed with them. 
With the complete lack of communication and professionalism displayed by both individuals I have no choice but to provide this letter of declaration stating my intent to contact the Bureau of Real Estate and my lawyer regarding this issue. 
You have 3-5 business days to either deny or comply with the original agreed amount provided with either a check or wire transfer. 

Regards,

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation