Consumer complaint received 2025-01-24 00:00:00
Product: Mortgage — FHA mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: WELLS FARGO & COMPANY
State: FL

Complaint narrative:
I refinanced my home in XXXX. The original mortgage was taken out in XXXX or XXXX. The refinance was to cover losses that I'd had due to a natural disaster. I was able to lower the terms of my mortgage from a XXXX note to 15 year note and in the process was able to take some of the equity out of my home and take some time off of the note and at a lower interest rate. 

Fast forward to XXXX and I began running into issues making my payments making my payments on time. During the time of XXXX I fell behind far enough that Wells Fargo had offered me a forbearance plan. I graciously accepted the forbearance plan and set up electronic payments from the bank account or deposit account with XXXX XXXX. I funded the account and Wells Fargo was informed the routing and account number so an ACH could be taken out each month to cover the forbearance payment. 

The first month of the forbearance payment was due I had no issues. The second month that the forbearance was due Wells Fargo took the money out as they did on the first payment and after a few days they returned the money which sent my mortgage into foreclosure. The money was in the deposit account and they took the money out but simply send it back and foreclosed. What strange and I believe what's illegal or immoral or improper is that after they sent out notice of foreclosure they took the third payment out and kept it. 

My family members were trying to make forbearance payments for me but the payments were not accepted. I turned over the issue to my mother because at the time I had become incarcerated and a ward of the state. When I found out that Wells Fargo would did accept the forbearance payment, payment number XXXX although they removed from account and then pushed it back to my XXXX XXXX  account, I became concerned. I became even more concerned when I found out that they had taken the third payment and kept it but continued with the foreclosure proceedings apparently because XXXX payments weren't made in consecutive order or something of that nature. 

It's my contention that they offered the forbearance and they accepted payment one then took payment to as part of our contract through electronic debit but broke our contract when they push the payment back to XXXX XXXX. So now that my home is in foreclosure or was in foreclosure why would Wells Fargo take the third payment and keep it? 

My home lacked XXXX to be paid off and my appraisal upon completion of construction after a fire at my home was well over {$150000.00}. My contractor continue to work on my home even after I was incarcerated and my home went into foreclosure so when my home sold at the courthouse the door for {$5100.00} XXXX and was nearly fully renovated and completed I was devastated. 

I was released from confinement in XXXX or XXXX of XXXX. Upon release I looked up my home on the web and saw that it was on XXXX and the appraised value is {$230000.00}. So while I was incarcerated for 27 months a {$40000.00} against an appraised value of {$230000.00} is what I faced. I lost {$190000.00} and some change because Wells Fargo would not accept the second forbearance payment which I can prove is is and was in my account and was liquid at the time. I can also provide testimony that my mother attempted to make payments and they wouldn't accept him. This call is of record on the XXXX XXXX jail inmate phone system. The call consisted of myself and my mother conversing about this issue and also myself and the master commissioner of XXXX XXXX in another call. 

I request that the consumer financial protection bureau do an in-depth investigation into the activities of Wells Fargo XXXX Not only do I believe they breach contract I also believe that they had accepted money for an optional product that was listed on my mortgage in the amount of approximately {$17.00} per month for over 15 years. In my opinion I believe that this optional product was to cover myself against loss in case I was unable to make payments. 

I have confronted Wells Fargo earlier in and around XXXX or XXXX of XXXX prior to my home burning and had asked them what that optional product was for. After XXXX to XXXX minutes on the phone they promised that they would call me back or get me some information by mail. They did in fact get some information to me by mail but based on the phone conversation they had no idea what this optional product was or what it covered and I sincerely believe the information they sent me from national insurance was just something that they pulled out of the file to appease me. 

I request that the cfpb take action against Wells Fargo in favor of XXXX and XXXX XXXX. I request that I am compensated for the difference in the appraised value in XXXX and what I owed in XXXX or XXXX rather when they sold my property on the courthouse door. I also request that they pay any damages real assumed or punitive to me so that I can once again be a homeowner as I was when Wells Fargo took an illegal action against me and broke contract and breached contract. 

My property was located at XXXX XXXX XXXX in XXXX Kentucky ZIP code XXXX. 

I request that this agency follow up with me by registered mail so that we can make a step forward and correcting this travesty. 

My current address is XXXX XXXX XXXX XXXX XXXX Florida XXXX

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