Wells Fargo Home Mortgage and Loan Mod Request

[betellie]

Hope I can get some suggestions here. I have visited this website often and I have finally gotten discouraged enough to ask for others suggestions.

We have a mortgage serviced by WFHM, conventional 7% fixed 30 yr. Since purchasing this home in 2006 we have had job changes that have resulted in a large decrease in income. In late Oct/mid Nov I called WFHM asked them about any type of modification or forbearance. They advised me that since they did not have our bk 7 discharge we couldnt do anything. I asked if I could send them a copy and they advs me no I would just have to wait till they recvd it from the court. Our bk 7 was recorded in late Sept 08. In mid dec 08 we recvd a collection notice from an attny. At this pt our mortg was due for Oct 08, it was mid Dec 08. The end of Dec 08 we recvd a notice called Hope for Homeowners. I called and was advs that we were approved for a payment plan w/the option after the payment plan to modify our loan. I faxed in our budget, w-2, paystubs etc. In mid Jan I mailed in our first payment to our payment plan. We then got our tax return so in early Feb 09 I mailed in the 2nd payment to the plan. After sending in the payment in Feb 09 I called to check the status of our modification request. At that time I was advised that our loan was in f/c, sale date was pending and the payments we sent in were being returned. They said they had no record of any payment plan arrangement. They said our loan modification request was pending. So we got our payments back in the mail and we waited. I call every week to check on the status. We have not recvd 1 statement, notice, phone call from WFHM since the collection notice and Hope for Home Owners in December 08. A couple of weeks ago I called Wells Fargo and was advised that our property value had been assessed at $240,000 by WFHM, we owe $287,000. The lady on the phone reviewed our budget again and told me that a f/c sale date had been set for April 1, 2009. By the time I called the next week the f/c sale date had been postponed. I was told it was because of our investor (Fannie Mae). I called this past week and was advised our f/c sale was now scheduled for April 8, 2009. I requested it be postponed due to our modification request and the possiblity of qualifing for the new plan offered March 4, 2009. I have been advised that the negotiator has to request to postpone the sale. Oh, and by the way I have been told that our modification request has been assigned to a negotiator (about a month ago). Our f/c sale was listed in the paper and we have since recvd notice from the f/c attny in the mail.

At this point I'm really concerned. I was told back in Jan 09 that we would have had an answer by now regarding the loan modification and that if our f/c sale was pending than our loan mod request would be moved ahead of others. I really think we arent going to get reviewed before the f/c sale happens or they will tell us the day before the f/c sale that our request for loan mod has been denied. I have tried calling fannie mae and they advs me that they dont discuss these issues directly with the borrowers. I have tried discussing this issues w/others at WFHM but cant get any farther than the loss mitigation rep. No supervisor or negotiator ever calls us as we request. The loss mitigation reps say we just have to wait. Does anyone have any suggestions on how I can get my modification request reviewed by WFHM before our home is sold at f/c sale?

[Dan Bailey]

betellie,
Glad you found the forum and posted. At this point, sisnce you are getting no info from WF, I would contact NACA:https://www.naca.com/refinance/refinanceSubmission.jsp, they are a non-profit HUD approved agency that has had MUCH more success than "Hope"
When you register and fill out the online info, you will see they have a contact section for those in immenent danger of foreclosure.

With them behind you, there will be no danger of the question whether or not you are in the process of modification.

[Dan Bailey]

Also, here is a contact number for the executive team at WF:1-800-853-8516, that *** has posted in other threads....this may help you get around the "loss mit" people who simply want to record a pyment on their files (thats what they get paid for)

[mzwxrb]

Dan - Thanks for the info my family and I are in a similar situation as that of betellie. I've been calling WF weekly since August. Moratorium is up and sale date is set for 5/5/09. We are calling WF ERT and seeking the help of NACA immediately, thanks to all of the ifo provided.

I cannot get over how convoluted this process is...WF has stated we have been pre-approved for a loan modification and need to provide a down payment for that pre-approval. Following review if we are not approved they state the don payment will be returned to us, am I to beleive that although I am currently behind on my payments that they would return that money? should I even consider making the down payment?

I have called WF repeatedly, now daily, and have never once received the same answer from any two reps whether they be in Loss Mit, Loan Servicing or collections. We are afloat on a sea of poo and the poo is rising.....quickly. Any recommendations regarding making the down payment...what should I do if I cannot make the full down payment on time?