Wells Fargo access

[troubleinTexas]

What a wonderful resource this website is. Thank you. I have searched the forums extensively today and have a couple of questions. My situation:
As of now, I am 4 and 1/2 months behind on my mortgage payment. I have not been in contact with Wells Fargo during this delinquent period. I left my last corporate position about 4 years ago and put my 20 year career on hold. Not exactly a genius move as it turns out. Since then, I have been self employed and basically making no money. To pay my bills during this time, I have used up the funds from a small inheritance, all of my savings, all of my 401k funds and have sold any material assets I owned that I could turn into cash. I am currently seeking employment in my former career area and have at least one interview pending. My resume is good and I am confident that I will be able to attain a position within a month or so at a salary level that will enable me to meet my current expenses without any major problems.

My interest rate is 7% and the unpaid principal balance on my mortgage is $77,000. A conservative estimate of the market value of my house is $125,000. I have a friend that is willing to loan me some money to avoid foreclosure. I have received a letter dated March 3 from WF that says "due to the default under the terms of the mortgage, my loan file has been referred to their attorneys with instructions to begin foreclosure proceedings." It also says that the letter is not a demand for payment and is for informational purposes only along with a paragraph inviting me to call them and explore an opportunity to reinstate or if I need help selling my property. I have also received notice from USPS of 4 certified letters from the WF attorneys which I did not pick up.

Questions:

1. My research on these forums indicates that the WF Executive Resolution Team that *** posts, is the most effective department to work with within WF for a successful resolution. I called the number given today and I was told that I must speak with the foreclosure department before I can work with the ERT. I did not speak to that department today for fear of the endless call transfers, runaround etc...I need some insight on this please.

2. Since I currently do not have any steady income, what are the best tactics and strategies to use when dealing with the ERT?

3. Lastly, I was divorced 6 years ago and my ex-wife's name is still on all correspondence even though I was awarded this property in the divorce decree. It is not fair for her to have to suffer credit problems because of my delinquency and I need some advice on the best way to handle removing her from the note.

Sorry for the very lenghtly post and thanks in advance for any help you can provide.

[troubleinTexas]

In addition to the above post, i just found out that Freddie Mac is the owner of my mortgage. Thanks.

[bacio]

I'm in the same boat as you. I'm also 4 1/2 months behind on my WF mortgage, and I'm in Texas. I also received the same "Referred to attorneys for foreclosure" letter you did, but I got mine a month earlier. I got a foreclosure notice from the attorney, but it wasn't sent certified. In fact, I haven't received anything by certified mail. For some reason they seem really eager to foreclose on me.

I think you should pickup the certified letters. You need to find out what date they have set to auction your house. Hopefully it's not April 7th, because that means you have less than 3 weeks to get this worked out.

I first found out about the executive team through this forum as well. I called the main number and spoke with several different people. They would always tell me that they would have someone call me back in a couple days. No one could figure out who was assigned to my case, nor why they were not calling me back. This went on for at least a week and a half before an executive team member was assigned to me and I got to speak with them. You might try them at this number: 515-324-3130. If you get the same runaround that I did, then let me know and I'll see if I can give you my reps number.

I would recommend that you go ahead and put together a hardship letter (there are examples on this forum). Also, you should write down your income and expenses, and something showing proof of income. Since you don't have a job yet, I know that's going to be tricky. Explain in your hardship letter that you have been self employed but it has not worked out and you are actively looking for a job in your old career. You might need to show them a profit and loss statement for your business.

[troubleinTexas]

Thanks, Bacio...I will get the docs you suggest going and post my progress or lack thereof. I know my procrastination and denial will make the effort to save my house much harder but the situation is what it is. how did you finally get through to an executive member??? Thank you very much for your help.

[snapple candy]

trouble in texas,
May want to go to freddiemac web site to view their guidelines too. I would agree you need to stop avoiding and start dealing with this otherwise you will lose your house. With equity in your home, the bank would seem to want to foreclose rather than work out something if you do not step up to plate and start generating correspondence that you want a work out solution. Since you dont have a job yet, it is tricky so if you can buy time until you do get one, it would be helpful. You could also ask for a forbearance (3-4mths) until your situation improves. good luck.

[bacio]

When you call in you will probably get an assistant, but be sure to get the person's name and phone number. Seems that each person there is assigned their own personal number. That way you can call them back directly if they don't follow through. You might also ask for their email address, so you can follow up that way as well. Also, whoever you talk to there should be able to tell you what date your foreclosure auction is set for. Be sure to get that info.

Tell them that you want to talk with someone about your loan. Ask them if they can give you the name and number of the person handling your file. When I eventually did get in contact with the person handing my case, he was very slow to return calls. Sometimes 2 or 3 days would go by before he got back to me. I ended up finding the email addresses for the CEO, Vice President, and other high ups at Wells Mortgage and told all of them how difficult it has been to reach anyone. The next day I got a call from a new executive team member who said she was taking over my file and would get things moving. She's been a little bit easier to reach. I think they are all so swamped, you just have to keep pestering them.

Let me know what happens when you call in.

[troubleinTexas]

Thanks again Bacio and also to you Snapple fopr the info. I have left a message at the 515 number from Bacio and hopefully I will get a return call but regardless, I will now pester them relentlessly until I can get someone I can try to work with. I will post updates as the saga continues...Btw, has anyone had any similar experiences like mine where an ex-wife is still on the mortgage even though he divorce decree awarded this property to me? If so, please share any insights into the steps involved and the best tactics to try to accomplish removing her from the note and relieve her of any responsibility for the account. Thanks again to everyone for the help and insights.

[troubleinTexas]

Bacio...Can you please give me a specific name and number that will allow me to talk to a person that has the ability to make a decision? I have gone through the runaround with the foreosure/collection department with no success...Thanks in advance...I'm running out of time. Also, If anyone can help, I need to know the best way to get my hardship letter and supporting docs to the right person in the most expedient manner.

[bacio]

Hi,

When you called the 515 number that I gave you before, did you get to talk with anyone? Has anyone been able to tell you what date your foreclosure is set for?

Just last Friday after much haggling back and forth, I finally got a decent loan mod offer from them. Just waiting to receive the paperwork in the next couple days to sign.

[Moe Bedard]

it is against the tos of the forum for members to post personal emails........................if you do not have the permission from the person that you are working with at Wells to publicly post their information.......then don't.............until you get it.