Consumer complaint received 2017-01-04 00:00:00
Product: Mortgage — VA mortgage
Issue: Settlement process and costs — 
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
XXXX XXXX, XXXX Wells Fargo Loan # XXXX Property Address : XXXX XXXX XXXX XXXX XXXX, Fl XXXX To Whom it may concern : My name is XXXX XXXX and I was told that you may be able to assist me. In XXXX, I was removed from my place of employment due to a XXXX stemming from XXXX. When I was removed from my place of employment ( XXXX ) my income was drastically reduced so I contacted my mortgage lender ( Wells Fargo ) and also the VA home loan guaranty department for assistance with a home modification. As I was not late or behind on my mortgage, Wells Fargo or the VA would not offer me any assistance under the home modification program. 
I contacted a Realtor to see if I could sale my home. Unfortunately, because the economy was under water at that time my home appraised for less than what I owed. I owed {$240000.00} and the house appraised at {$230000.00}. My Wells Fargo Home Preservation Specialist ( XXXX XXXX ) worked with my Realtor ( XXXX XXXX ) and they both came up with a remedy to assist me during my hardship. 
Because I provided medical and employment documentation of my XXXX along with evidence that I was in good credit standing with Wells Fargo my realtor and Wells Fargo loan preservation specialist negotiated a " hardship short sale. '' The terms of the agreement in the " hardship short sale '' was that I waive all rights to collect relocation expenses, any concession pertaining to my home and continue to make on time mortgage payments up to the closing of my short sale that Wells Fargo would waive the " deficiency balance against me and the third party attached to the short sale. At the time of the negotiation we were all clear that the only parties attached to the mortgage was myself, Wells Fargo and third party ( the Department of Veterans Affairs ). I confirmed with my realtor and Wells Fargo Loan Preservation specialist that by waiving my rights to receive any proceeds from the short sale and obliging with the contract of the short sale that the deficiency balance from the sale of my home would be waived. I asked that this verbiage be placed in my short sale contract for my records in which it was. My Realtor communicated this with Wells Fargo and I was told that the portion of the contract that stated that " Wells Fargo would waive the deficiency balance from me and any third party ( also meant the VA ). '' In XXXX of XXXX, I requested a new Certificate of Eligibility to purchase a new home and found that I no longer had enough entitlement on my certificate as Wells Fargo filed a claim to recoup the deficiency balance after they promise and contractually agreed not to. I contacted Wells Fargo Consumer Relations Escalation Department and spoke with the following managers : ( XXXX XXXX ), ( XXXX XXXX ), ( XXXX ) and ( XXXX XXXX ) and each manager acknowledged that the statement to waive the deficiency balance against me and the third party was INDEED in my contract. However, they all began to back pedal and try to alter the meanings of the contract. I was told that they did not file a claim for deficiency balance and the claim that was file was for insurance. I later was told that they thought the letter was a training issue and lastly that they would reach out to VA to see what could be done. Unfortunately, NOTHING was done. Wells Fargo kept sending me letters of extensions on the investigation and researching of my case for almost 8 months and finally I received a call from XXXX XXXX who was very rude and stated that Wells Fargo had done nothing wrong and that they will no longer review my case for further resolution. I now have a significantly reduced credit score, compromised VA entitlement, I have to pay $ XXXX monthly extra for PMI insurance and denied other benefits that are a part of the loan guaranty program because of this.

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