Consumer complaint received 2026-02-20 00:00:00
Product: Mortgage — VA mortgage
Issue: Struggling to pay mortgage — Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
Company: WELLS FARGO & COMPANY
State: TX

Complaint narrative:
On XX/XX/XXXX, we bought a property in XXXX, TX. Total loan amount {$290000.00} with a XXXX yr note with 3.875 % apr. Total to be paid for the property after finance and all 30 years was {$510000.00}. Monthly payments of {$1900.00}. We stayed in good standing and were able to make payments until XXXX. We fell behind and were basically forced to take a forbearance to keep our property. However, we had already paid {$230000.00} towards our property from XXXX - XXXX. On XX/XX/XXXX, we did a loan modification, our unpaid principal amount was {$230000.00}, with the modification the new principal amount was now {$260000.00}, a new monthly payment of {$2700.00} with 6.375 % apr. So they tacked on {$21000.00} for the modification, which was acceptable and understanding. The maturity date would now be XXXX of XXXX. So our new total amount paid would be {$990.00} with only owing the {$260000.00}. But whatever. I have the full loan modification agreement in hand and this is what it states and was explained to us. To our surprise, about XXXX months ago after a job change and realizing we were going to have to make some changes, we looked into selling our property. We then discovered that Wells Fargo put a new loan on the tail end of our mortgage for {$50000.00} with XXXX. So, over the past XXXX months we have been pulling what little money we had invested for retirement out to make house payments. But, I filed an inquiry for another modification due to us not being able to afford payments which are now, not even 3 years after the last modification, {$3400.00}. A {$720.00} increase in less than 3 years. After the forbearance, we have paid approximately {$120000.00} toward our property. We changed homeowners insurance to a much cheaper rate. I am a XXXX XXXX XXXX XXXX, which we have registered with our county tax office to forgive up to {$12000.00} property taxes annually, but our payment amount just keeps increasing. So with the new modification Wells Fargo reached out yesterday finally and said they did get approval. Their proposal was to drop our payments to {$2800.00} XXXX on a new 40 year note, not starting in XXXX of XXXX. Our balance owed is currently {$240000.00} for the property. With their proposal we're looking at now paying {>= $1,000,000} XXXX for this property that we have already paid approx. {$350000.00} toward an original total amount of {$510000.00} XXXX. But with their new proposal we'll be paying about {>= $1,000,000} for a property we bought for {$290000.00}. How is this in any way possible??? We will now HAVE to sell our property and get out from under this Wells Fargo system that is claiming to " help '' from the home preservation team to their borrowers. This is disgusting!!!! Should be the home abandonment or impairment team. How can they get away with this sickness?

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