Mortgage -- Struggling to pay mortgage -- Complaint #5520081
Complaint Overview
Complaint ID: 5520081
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Struggling to pay mortgage
State: California
ZIP Code: 91604
Date Received: 2022-04-29T12:00:00-05:00
Date Sent to Company: 2022-04-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I'm having trouble getting Wells Fargo to accept the XXXX XXXX XXXX ( XXXX XXXX XXXX XXXX XXXX XXXX ( XXXX ) money or give me an affordable modification. Id like the bank to accept an HAF payment on my behalf- and then have Wells Fargo factor that reduced principal balance into a modification. I've been trying to keep my home out of foreclosure since I came out of the COVID forbearance program in XXXX. My mortgage is currently 22 months past due. On XX/XX/22 Wells Fargo said they granted a modification for the XXXX XXXX mortgage on my property. 1 ) They did not offer any principal/ arrears/ accrued tax forgiveness, even though the housing to income ratio remains well over 50 % and full documentation was submitted. Even if I accept the modification, I think the mortgage payments will remain unaffordable and I'll have to sell the property. 2 ) I have not seen the offer in writing. Wells Fargo said they couldn't send it to me yet because I'm only a potential successor in interest ( non-borrowing spouse ). ( I showed Wells Fargo my grant deed saying I co-own the house, but the bank said I can't become a confirmed successor until my divorce is finalized. That means I have limited access to information. As a non-borrowing spouse they wouldn't allow me to apply for a modification without my ex-husbands approval. The court has given me exclusive use of the house. I have to pay the mortgage in full. My ex-husband wont contribute to the mortgage and is willing to let the home go into foreclosure. I'm attaching a screenshot from an NCLC article that says I should not be required to go through my ex-husband for all of this. ) 3 ) On XX/XX/22 the XXXX said it was trying to work with Wells Fargo to see if the company will accept an arrears payment. They said Wells Fargo usually won't accept the arrears payment because my name is not on the mortgage. The XXXX said non-borrowing spouses should be eligible for the XXXX funds for conventional mortgages. I'll attach a screenshot of the XXXX 's website with the section about XXXX funds for non-borrower spouses highlighted. 4 ) On XX/XX/22 Wells Fargo if I don't accept this modification and I wait for the XXXX program and then re-apply for a modification, the interest rate on the modification will likely go up because mortgage rates are much higher now. However I locked in the modified interest rate pre-COVID. 5 ) Wells Fargo also said homeowners can't accept the HAF payment and get a loan modification. Is that true? I read on the CFPB that the XXXX is designed to work with other programs. I attached a highlighted screenshot of the CFPB 's website where it says I should still be eligible for other bank modification programs. 6 ) Please provide me a reasonable road map for me to get the bank to accept money from the XXXX?
Frequently Asked Questions
What is Complaint #5520081 about?
Complaint #5520081 was filed against Wells Fargo & Company regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2022-04-29T12:00:00-05:00.
How did Wells Fargo & Company respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Wells Fargo & Company?
Yes, visit the Wells Fargo & Company company profile at readthecomplaint.com/company/wells-fargo-company to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.