Consumer complaint received 2024-05-11 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: WELLS FARGO & COMPANY
State: MD

Complaint narrative:
A bank representative called my daughter at work about two ( XXXX ) weeks ago to discuss my mortgage and due to the fact that her name is not on the mortgage, she asked him to hold on while she conducted a two-way to get me on the line. 

Once I got on the line, he wanted to know if I was intentions on the current home in which I reside, and I stated that I wanted to keep my home. 

He then went on to say that he needed to ask me two questions to qualify me for the Modification process, I said alright. 

XXXX. Do you want to continue to reside in your current home at ( address, city, state, zip code ), and I stated that I did not quite understand what he was saying. My daughter then spoke up and restated the question and said that I must answer each one with a " Yes or No '' response. I then answered that question, " Yes, I want to do all that I can to keep my home. '' 2. If by some miracle your mortgage is made current, would you be able to resume your payments? I said, " Yes, I would. '' After that, he stated that is all of my questions. I then asked him, well, " What are the terms of the modification? He stated that he did not know, but that I would receive an email in a few days whereby i could check the website for more information and that the mortgage company would send me a letter. 

Well, my daughter stated that I did receive an email stating that they were processing the modification and would be contacting me shortly. With this, she went in and created an account and to her amazement she said that she noticed that they wanted me to pay a whopping {$13000.00} for the next six ( XXXX ) months beginning XX/XX/2024, to catch-up the arrearages. She said, she didn't want to get me upset, so she just kept it to herself in the event they were still in the process of calculating the numbers, however, I received a telephone call on Tuesday, XX/XX/2024, confirming what she saw. 

The mortgage company stated that I would need to pay at least {$13000.00} from XXXX through XX/XX/2024 in missed payments. I could not believe what I was hearing. I stated to them, if I couldn't previously pay the lower amount, where in the world do you think, I am going to get this {$13000.00} from? The rep stated, I am sorry this is the best that we can do, I said alright. 

This hurt me to my heart! It was as though they set-me-up for a let-down. They knew I couldn't afford that type of astronomical payment and I feel as though they are using Seniors such as myself as " prey '' in which to feast on with these mortgages to do harm to instead of trying to give assistance to. It's not like they don't have my entire financial history sitting right there before them. 

They have to be something out there for seniors like me!

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