Today we got an acceleration letter from WF Home Equity, not registered or certified, just regular mail that says:
Despite our repeated attempts to work with you, your above referenced account still remains severely delinquent. Accordingly, you are hereby notified that, due to the default under the terms of your mortgage or deed of trust, the entire outstanding balance on your account is now due and payable.
In addition, we may refer your account to our foreclosure company with instructions to begin foreclosure proceedings.
In the even you are experiencing an inability to pay due to circumstances beyond your control, or wish to explore an opportunity to reinstate your mortgage or deed of trust, please contact us at yada yada.
Home Equity Collections Servicing
There's no name, signature or anything
Just some particulars on my loan:
Suburb of St Paul, MN
Cash out refi in 2005 (no other loans; this paid off the original mortgage)
Current balance: 191,000
Zillow estimate as of 5/12/11: 136,500 (which is now officially less than we bought the house for in 2000)
11/10 - last payment
5/5/11 Loan is accelerated
I'm starting to get some weird calls which I don't pick up and they don't leave messages. I usually google them if a number shows up on my caller ID (often it doesn't), a few times it's been Wells but in the last week there have been 2 credit repair companies which tells me Wells is releasing my phone number now. We are current on everything but the mortgage. I have the Google Voice number, but Wells must have looked in the dark recesses of their files and found the home number again even though I removed it from the website. They never leave a message though. Lots of "Number Unavailable" and "800 Service" on the caller ID. If I'm home I pick up and hang up before it goes into voice mail.
I admit, I'm a tad depressed that its coming to this. Then I just remind myself that 1) I'm not alone, Loansafe is proof of that; 2) I'm still a good person and 3) Our family will get through this and to be grateful for every good thing that we have. Our family and our mental well-being is way more important than propping up Wells Fargo.