I need help!!! Wells Fargo..ugh

**totallystressed** · 05-10-2010, 03:25 PM

I have been in a Wells Fargo NIGHTMARE and now I need help. I have been trying for many many months to get a HAMP modification. I was told the beginning of this year that we were denied because we did not meet the 31% requirement, however, they had incorrect numbers in their system. I asked to reapply for HAMP, which WF said they would, and again I went through the LONG process of faxing and refaxing documents. I definately meet the 31%.

Well a few weeks ago, I called to see where things stood, I usually call everyother day. On this day the adjustor was able to tell me verbally that yes we were approved for a loan modification and that he would call in the next couple of days to go over it with me. 3 weeks later, after many many phone calls I finally found out the terms of the agreement. It isnt a HAMP and in fact they never even reapplied for it. This is an inhouse deal with an interest rate of 8.5%..... UGH.... now I dont know what to do... HELP.. ..
I dont want to lose my house... should I just give in and sign this so that I dont lose my house.. or should I call, write, my congressman etc to see where I can get???

Thanks so much in advance, I am so glad I found this board

**chestergh** · 05-11-2010, 04:32 AM

Iam in the same tea cup with Wells Fargo. I have been sending fedex packages for the past 5-months but they always come back with something. I am tired of going through every detail with the reps now. I am looking for the contact info for the VP of mortgage services and the HAMP compliance cordinator and I will forward my docs to them.

**cahomeowner** · 05-13-2010, 06:32 PM

who is the investor on your loan? did you try NACA?

**Maurice Bedard** · 05-13-2010, 11:27 PM

If you are current on your loan, in most cases they don't have to consider you for HAMP, especially if you have any savings. Plus your current payment must be more than 31% of your GROSS income

**cahomeowner** · 05-14-2010, 06:56 AM

I had the same problem with wells fargo...they ask for all your financials then use the numbers of the credit report.

what you need to do is call the bank go over the financials that they have entered on your behalf....keep track of the numbers then go back and figure out if meets the 31% guidelines. if not then you may need to make some adjustments....i.e. pay off a credit card, reduce some of your expenses like cable service, cell phone service, etc

the bottom line is if the numbers do not meet their guidelines then the file will be rejected and closed which means you start the process all over again.

work the plan don't let the plan work you!