Mortgage -- Struggling to pay mortgage -- Complaint #6502633
Complaint Overview
Complaint ID: 6502633
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Struggling to pay mortgage
State: California
ZIP Code: 94566
Date Received: 2023-01-29T12:00:00-05:00
Date Sent to Company: 2023-01-29T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XX/XX/2010 I entered into a loan modification program with Wells Fargo. All payments were made complete and on time. In XXXX we decided to sell the home and use the proceeds to pay off the loan. After selling the home, and while in contract to purchase a new home, Wells Fargo incorrectly reported to the credit bureaus that I was 90 days late on my payments. Wells Fargo 's excuse was that the modification payments were not applied correctly, and due to the lowered payment amount, caused the loan to fall behind. The bank was taking the payments and applying the amount to the previous month, even though the amount paid was the new amount per the modification agreement. This caused weeks of headaches, hours spent on the phone with Wells Fargo just trying to reach someone who could make sense of the situation, days missed of hours, and unimaginable stress.
Frequently Asked Questions
What is Complaint #6502633 about?
Complaint #6502633 was filed against Wells Fargo & Company regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2023-01-29T12:00:00-05:00.
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.