Consumer complaint received 2026-01-22 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: WELLS FARGO & COMPANY
State: NJ

Complaint narrative:
I am submitting this complaint to formally report Wells Fargo Banks improper handling of my loss mitigation request and its continued pursuit of a short sale or foreclosure despite my eligibility for reasonable alternatives.

When I first became aware that my loan was in foreclosure in XX/XX/year>, I immediately contacted Wells Fargos home preservation department to seek assistance. I was explicitly told by Wells Fargo representatives that the ONLY option available to me was a loan modification. At no point during these initial or subsequent communications was I informed that I would be ineligible for a loan modification due to having received one within the past five years.

After months of repeated delays, document resubmissions, and inconsistent communication- from XXXX through XXXX XXXXWells Fargo finally informed me that my loan modification request could not be approved solely because I had received a prior modification within the last five years. This critical information was never disclosed to me at the outset. Had I been properly informed, I would not have spent months pursuing an option that Wells Fargo already knew was unavailable, while foreclosure activity continued.

This failure reflects a serious breakdown in Wells Fargo loss mitigation process. Their representatives should reasonably be expected to know which options are available to a borrower before directing that borrower to pursue a specific path. Instead, I received conflicting information from multiple representatives, with each providing different guidance, while time passed, arrears increased, and foreclosure progressed.

Compounding this issue, my financial hardship has ended. Wells Fargo is fully aware that my household income has stabilized and increased. My daughter, son in law and grandchildren reside with me and actively contribute toward household expenses and the mortgage. I am able and willing to make ongoing payments and had requested a reasonable repayment plan to cure the arrears. Despite this, Wells Fargo continues to deny a repayment plan without adequate justification.

This position is particularly troubling given the strong equity in my home. My remaining mortgage balance is approximately {$150000.00}, the arrears are roughly XXXX and the homes value is approximately {$480000.00}. Foreclosure under these circumstances is unnecessary, economically irrational, and punitive, especially when a straightforward repayment plan would fully protect the banks interest while allowing my family to remain housed.

I believe Wells Fargos conduct demonstrates : Failure to provide accurate and timely information regarding loss mitigation options Inconsistent and misleading communication from home preservation representatives Improper delay that caused harm while foreclosure activity continued Unreasonable denial of a repayment plan despite my demonstrated ability to pay I am requesting the CFPBs assistance in reviewing Wells Fargos handling of my account and requiring the bank to : 1. Halt foreclosure activity immediately 2. Provide a fair and accurate loss mitigation review 3. Offer appropriate alternatives, including a repayment plan 4. Correct any errors that accrued as a result of Wells Fargos delays and misrepresentations This situation has caused unnecessary stress and hardship for my entire family, including my grandchildren, and should never have progressed to this point.

Thank you for attention to this matter.

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