I need help getting Wells Fargo to approve my Loan Modification

I am in the same boat due to a divorce, facing Foreclosure.

My attempt working with Wells Fargo on my own failed and they did not do one thing to help me.

I am now in the process of re-submitting and going for round two but due to this waiting and waiting to hear From Wells Fargo, I am now at the point I can no longer make my payments. Now I'm looking at not only loosing my home but also my excellent credit scores. It seems that the people in worse condition than I am are getting the help first. I guess I should have quit making my payments 4 or 5 months ago and I would get some help. President Obama's Plan is called Foreclosure Prevention and waiting to get help from Wells Fargo is just getting me into Foreclosure, not keeping me from it.

My "Lesson Learned" from my first attempt was to go through a Consumer Credit Counseling Service (CCCS)in your area. They are a non-profit organization and funded through foundations, corporate and HUD grants, community resources and voluntary contributions from national creditors. The number I have is 800-856-0257 and it get you to a CCCS number in your area. It is free and if something can be done, it will be done going through them. Do it, call them and don't wait to do it like I did the first time. Learn form my mistakes.

First I called 888-995-HOPE(4673). That is the Homeowners Hope Hotline, 24 hrs. a day/7days a week. They are a Homeownship Preservation Foundation counseling service and they are free. From there, I was sent to GreenPath Debt Solutions, an affiliate of the HOPE Now Alliance and they took over. The number I have for them is 877-369-7284. I don't know what this means but they are a level one. Their services include Debt Management Plans, Budget Counseling, Housing Counseling, Bankruptcy Edcutation and Credit Report Reviews, among other things. They will send your information to Wells Fargo along with their recommendations and refer you to a Consumer Credit Counleling Service near you to take over from there. They are what is called a level two.

I don't think it is necessary to go through GreenPath first but I figure the more organizations that contact Wells Fargo in your behalf, the better.

At this point, atleast now I can say I did all I can do and again, wait. I am confident CCCS will do all that can be done while working with Wells Fargo. These people I feel are necessary so that all options are turned over and nothing will be left out.

One other thing, keep files for all of your personal information in order and accessable, including all communications with Wells Fargo.

Lets kick ass and take names. Write everything down with names, dates and comments with every call.

I hope this information helps and I wish all the best.

God Bless,
Darlene

I was told by a Consumer Credit Counseling Agency to keep the letter short and simple. Just a few sentences stating what it was that caused you to need assistance.
Mine was divorce and also the fact I am disabled and on a fixed income. Also, that I have almost used all my savings trying to keep my home to the point I just can't do it anymore or I will not have any money to move anywhere if I do not get assistance.

The Hardship letter is necessary for everyone to send in along with the initial papers and they should have told you that in the first place. I was told to keep it short, closer to a half page and not over one page if possible.

I wanted to write a chapter to plea my situation but that is not what they want or care to hear about.
Just try to keep to the facts.

Good luck and God Bless,
Darlene

We were two month behind on our adjustable rate payment when I tried to get them to modify our loan and all they did was give me the run-around! I couldn’t believe it when the guy on the phone actually said that my family shouldn’t eat so much because then we would spend less on groceries and would have more money to make our mortgage payment! What a jerk! He also said we should get a cheaper car and a bunch of other stuff that was really rude. Come to find out the loan modification they were going to give us was a just Forbearance Agreement and all it was going to do was add the payments we were behind on to the back of my loan. Since our interest rate was going to stay the same, this would actually make my payment go up! THAT’S what got me into this mess in the first place! My payments are too high! This whole thing was keeping me up at night worrying about what was going to happen to us. I told my friend at work about this and she said I should call the loan modification company that got her loan modified down to 3.75% fixed interest rate! I decided to call them, and in about 45 days they got my interest rate down to 4.35% and it’s a fixed rate too! The company is First American Financial Group and we are really happy with what they did for us. The website is, w. w. w. TheLoanModFacts . com. We went with them because they have attorneys on staff to make sure the banks do the best they can and they have a 100% money back guarantee. I hope this helps some other people fighting with their loan company! Don’t give up and don’t be intimidated by your mortgage company!

We recieved our Forclosure letter in June '09. We kept calling Wells Fargo DAILY to get them to help us for two months. Everymonth we were graced with wellsfargo pusshing back our foreclosure day a month. Our problem was that Welasfargo employees wouldn't tell us what we needed to do since we weren't qualified for a loan mod. They just kept pushing that damn foreclosure date back, now it's November..I called a lawyer of my own, finally. I know we were slow or stupid, maybe both. Anyhow the Attorney told us to call the Wells Fargo Attorney who sent us the foreclosure letter to start with. We were to ask for a re-instatement payoff amount. Well it's been 5 months going into 6 now. All those fees, late charges, sttorneys fees have added up to quit an amount, and our ISD taxes are going up again! ENOUGH! I must pay back 10k+ just to make it square..I can only think that it should be illegal for wellsfargo to SHINE US ON FOR ALL THOSE MONTHS SAYING "THEY HAD NO IDEA WHO WE SHOULD SPEAK TO" & "gIVE US YOUR NAME & WE'LL HAVE SOMEONE CALL YOU BACK IN 5-7 DAYS????"

CALL THEIR ATTORNEYS & PUT ASIDE A LITTLE FOR YOUR OWN. I THINK THEY WANT OUR HOMES NOE AS THEY (GOVT) CLAIMS THAT HOUSE PRICES HAVE "BOTTOMED OUT FINALLY"

THANK YOU ALL FOR LISTENING...

My typing is horrible when I get Angry, sorry...M

Husband lost job-Jan, 09. Prior to that we were making monthly mrtg payments equivalent to 150% of our required payment. The additional mrtg $$$ were applied to our principle.
The unforseen job loss in Jan. reduced our monthly net income to ~ $350/month; without the Federal govt subsidy, (65%) for COBRA, our net income would have been ~ $50/mo. We have spent down savings $$ and have posted an ad to sell an asset,(a vehicle)to add cash to increase liquidity for current expenses. We have searched for employment diligently without succes since Jan. I have read mixed comments regarding dealing with Wells Fargo Home Mortgage and would appreciate additional insights into anyone's experience comparable to ours with Wells Fargo Mortgage and would like a template of an effective hardship letter.
Thanks for your input.

Wells Fargo is a rip off and will keep you on the turntable. Everytime you call loss mitigation regarding doing mod you never talk to the same person. For close to a year now I have had the same problem. Sent income/hardship ltr/financial sheet/taxes everything they asked for. I even had the direct number of the person who was working our file. I kept a phone log of who I spoke with date and time stamped along with the representative ID, I even have email correspondence to prove my husband and I have done everything we were asked to do but Wells Fargo did not do their part. Sent in 2000 was supposed to do a va-modification, then they turned around and said had to do loan repayment which when the papers came in did not show the 2000 that was being held in suspense, and we were told not to send in any payments until loss mitigation finished their paperwork as it would mess up the figures. Needless to say it is now Feb 2010 and still nothing. Now they are saying after was pre-approved for loan modification in january 2010 after re-doing the paperwork all over again and faxing not once but twice that they want to do a repayment. Bait and switch policy to steal your homes. My husband served his country in Iraq and Afghanistan I researched and found we are not alone in our experiences with Wells Fargo others in Virginia I has you to join us in stopping Wells Fargo from stealing and breaking the law. Class action law suit, and call your Congress rep. Wells Fargo took government (our money) bailout funds and were supposed to help not steal and mislead people. Enough is enough, we work hard to pay our bills and we do not want to lose our home. Time is now to SPEAK UP VIRGINIA AGAINST WELLS FARGO. Enough voices can make a difference

I just got dealing with wells fargo with my mortgage. Things that I've learn thru the 9 months!!
A- don't ignore phone calls
B- update your financial worksheet and hardship letter monthly, they do require that
C- make sure you discuss your issue with the mortgage company. When your behind in payments and you enter either your loan # or the last 4 of SS, it goes to them. They will give you info, but their not up to date.
D- ALWAYS get the reps ID #!!!! Not just their name if you want them to listen to a phone conversation. They need the I'd #

E- if you get a letter stating to pay a certain amount. PAY it or call if you can make a partial
F- Never let them tell you, that you don't need to pay because your in loss mit. If you don't pay, they will start foreclosure proceedures and you'll owe another 2-3 k for lawyer fees from them
G- if your loan is a freddie or fannie mac email them and ask for help. They might not call you, but they do get in touch with wells
H- ALWAYS call to check if they got all your fax pages. Don't go by your confirmation page.
I- note every phone call and details about the call. Ask for their id# in the beginning and at the end, to make sure they match.

If this doesn't work, get help.