Mortgage -- Struggling to pay mortgage -- Complaint #8152428
Complaint Overview
Complaint ID: 8152428
Company: Wells Fargo & Company
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Struggling to pay mortgage
Sub-Issue: An existing modification, forbearance plan, short sale, or other loss mitigation relief
State: Colorado
ZIP Code: 804XX
Date Received: 2024-01-11T12:00:00-05:00
Date Sent to Company: 2024-01-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American, Servicemember
Consumer Narrative
We applied repeatedly to Wells Fargo Mortgage Services, aka Wells Fargo NA, Company for mortgage modification for 4 years, and were repeatedly denied during that period of time. We provided all financial and hardship documentation repeatedly and as requested by Wells Fargo Mortgage Services. This described period of time occurred from XX/XX/XXXX to XX/XX/XXXX, the first full year of applying was pro-active on our part prior to missing any mortgage payments. During the full XXXX years of applying for the modification, documentation provided to Wells Fargo was repeatedly 'lost ' by them or expired due to lack of processing by them. Provided proof of income was miscalculated by Wells Fargo numerous times. Attached herein in .pdf format is 48 pages of documentation applicable to this complaint. Post bankruptcy, we filed a complaint with the Colorado Attorney General 's Office. On our behalf, the Colorado Attorney General inquired directly to Wells Fargo concerning our mortgage modification denials. Wells Fargo then offered us a temporary trial modification which we agreed to and fulfilled. After the temporary modification, Wells Fargo denied us a permanent modification, and, as reason for denial, presented bogus title encumbrances, which we were able to immediately disprove. The Colorado Attorney General 's Office immediately escalated our case and, as a result, Wells Fargo offered us a permanent modification. We were required to sign a promissory note to Wells Fargo in the amount of over {$90000.00} as a condition of modification approval. Another 10 years was added to our mortgage at an interest rate of 5.375 %. We believe had we not been denied the mortgage modification due to Wells Fargo and its employees negligence in not correctly and properly applying our correct income and allowing our modification application to continually expire without proper processing, the {$90000.00} in arrears would never have accumulated. Nor would it be currently attached to our current modified mortgage as a forbearance. This forbearance stripped us of the equity in our home, and it caused us undue duress and hardship. Please see attached .pdf file for full documentation and dates related to our complaint. Thank you.
Frequently Asked Questions
What is Complaint #8152428 about?
Complaint #8152428 was filed against Wells Fargo & Company regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2024-01-11T12:00:00-05:00.
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.