Consumer complaint received 2025-01-13 00:00:00
Product: Mortgage — Conventional home 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: OR

Complaint narrative:
We bought our home in XX/XX/XXXX. Our first loan was a payment of XXXX per month and a interest rate of XXXX percent on a loan of {$180000.00}. Two years after buying our home we were able to refinance to a FHA loan. We were able to get a better interest rate and lower monthly payment amount. ( These are all estimated dates and dollar amounts since it has been 10 years since Wells Fargo foreclosed on our home ) I believe when we refinanced and Wells Fargo became our loan servicer went down to about 5 % and a monthly payment of {$1300.00} per month. We paid our home loan payment without incident until I believe roughly XXXX. So we had paid for about 6 years on our home. The first 2 years our payment was XXXX per month. XXXX months = {$45000.00}. Then when we refinanced in XXXX to a FHA loan our payment was XXXX per month times 4 years is roughly {$62000.00} in payments we had made on our home. So in total in the 6 years we had been there. We had made roughly {$100000.00} in payments on our home. {$62000.00} of which was made to wells Fargo. So in XXXX when we were struggling to make the payments. I spoke to Wells Fargo the assured me they could help. They could do a modification and lower my payment and interest rate. I waited 2 months for this supposed paperwork. So I could get it filled out. Then, I got my mail and in it was paperwork from Wells Fargo. It was modification paperwork. It said they were going to lower my interest rate and payment to only {$790.00} per month. Which was affordable on just my income. The paperwork came regular mail and didn't even need to be signed in front of a notary. I was so happy. I shows it to my husband. The date to have the paperwork back to them for the modification to go through. Had already passed by a month. I checked my mail everyday. I called Wells Fargo so upset telling them of there error. They said there was nothing they could do to help me. I didn't get my papers to them in time. So the next step to do to try and keep our home was we tried to file a XXXX  XXXX bankruptcy. The attorney we hired knew exactly why we were doing this, it was to save our home. We paid for 2 years on the bankruptcy. We had no secured debt except for our home loan and XXXX in past due tax debt. We did not realize the attorney we hired was completely faulty. He has since lost his license from the Oregon XXXX bar to be a attorney in Oregon. So we thought the attorney had included our home in the XXXX  XXXX. Well he didn't. We assumed to XXXX a month that we had to pay to the bankruptcy courts for 2 years was covering our home loan. Next thing you know 2 years into bankruptcy We have a realtor come knocking on our door telling us we had 10 days to leave our home because it had been foreclosed on. She said if we could be out in the 10 days she would do the cash for keys program and give us XXXX moving money. I couldn't believe what all was happening. Upon contacting the attorney he said that he didn't include our home. It all boils down to the fact that if Wells Fargo had not been deceitful in our modification process we would still be in our home making a payment of XXXX that they said they could do for us in a modification. But like I said the paperwork was backdated a month and they said there was nothing they could do for us. Nos we've been spending XXXX on rent for the last 10 years since the forclosure. Earning no equity. Never going to own a home in our lifetime again. We have terrible credit now due to bankruptcy and forclosure. Thanks to wells Fargo and there deceptive business practices. Here 's another deceptive business practice. What got this whole complaint started is I was reading on the Internet and saw about the lawsuit for Wells Fargo. When I called the number that was listed online to get myself as a clement in the class action lawsuit I was told by a Wells Fargo employee that there was nothing they could do to help me. That they did not add people to the class action lawsuit. So now here I am filing a complaint at consumerfinance.gov trying to get my self admitted into the claim so that I can hopefully get paid something for what wells Fargo has done to me. All of the above statement in the first part of my claim by me is true and to the best of my knowledge.

Here is the second part of my claim. I had a checking account with Wells Fargo. Shortly after losing our home to them. I believe it was back in XXXX I had some fraud on my checking account for roughly around {$900.00} Which the {$900.00} was the money that was in my account that was my money. So there was fraud on my account somebody had taken the money from my account. When I called Wells Fargo to notify them of it and get help with it. They told me there was nothing they could do to help me. Next thing I know they are charging me all sorts of fees for them having to close my account for NSF fees. They never did give me back my money that was in my account. They closed my account and sent it to collections. Which is also on my credit report. So that was another huge loss for me due to Wells Fargo. Because they closed out my account with what they were saying was a negative balance. It has stopped me from getting a bank account anywhere else. So that is to the second part of my complaint that I would like addressed also.

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