Dazed and Confused..Wells Fargo loan help!!!!

[mzwxrb]

New to the forum and am desperate for some assistance, Loan particulars:

I have a conventional loan secured by Fannie Mae, the loan is serviced by Wells Fargo. Our rate is pretty good..5.875%. I worked two full time jobs for a while and lost one of those positions in September of 08. At the same time my daughter was diagnosed with type I diabetes. I do not currently have medical insurance and am working one (stable job). I haven't made a mortgage payment in 8 months.

I recently received letters (several...like 6) via certified mail from a law firm representing Wells Fargo NA. They mentioned a sale date for my home has been set for 5/5. During the period where no payments have been made I have called Wells Fargo a minimum of once every two weeks, stepped up to everyday for the last two weeks.

We were told we were pre-approved for a loan modification and needed to make a down payment, another Loss Mit rep stated the payments were not required and failure to pay it would not affect our review status. Needless to say review was rejected eventually due to "mortgagor non-cooperative", whatever that means. We re-initiated the review process, have submitted financials no less than 4 times and are currently in active forclosure status with a sale date set. Our loan is currently being reviewed and we are again faced with the "down payment" offer. I am not currently able to pay the entire down payment, $3300. We have offereded to pay a portion of it and complete the whole anount in a few installments, WF doesn't appear to be willing to o this however.

We've gotten rid of a car, cut expenses drastically to improve our debt to income. I've seen the posts regarding contacting NACA and the WF ERT folks. We will be pursuing both in the AM. The bottom line is my wife and I are scared and panicing. I've been playing the WF Loss Mit, loan servicing game for months and have gotten no where. Should we pay the down payment (or as much as we can)? We have n't been offered a loan mod, should we dicuss this with the lawyers representing WF? The lawerys state the sale date i tentative and that it can be postponed, is this accurate? Any help is appreciated, we are lost and freaking out.

Thanks.

[Moe Bedard]

Hi mzwxrb,


Welcome to the forum and thank you for joining...........

Try calling the executive team and see if they are able to help postpone the foreclosure and see if you qualify for the Making Home Affordable modification.............

Here are the guidelines...........
http://www.treas.gov/press/releases/...guidelines.pdf

Wells Fargo ERT
1-800-853-8516



NACA is a HUD approved counseling agency and the services for their Home Save moidification are free...........here is the link for the info if you decide to go that route........
https://www.naca.com/refinance/refinanceTenStep.jsp

[mzwxrb]

*** - thanks for the help, called the Executive Escalation Team this morning, hopefully we're on the road to getting this done. Thanks again and we'll keep you posted.

[mzwxrb]

Quick update, called WF ERT and spoke to rep immediately. He asked for our updated financials including;

-Hardship letter
-Financial worksheet
-Proof of Income

If nothing else we now have a single point of contact that I hope can provide us some consistent responses. In our hardship letter we are requesting information regarding the Making Home Affordable Modification per ***'s response to our original post. The WF ERT rep stated that if we get the paperwork in ASAP he should have a response back within 10 days.

I am still concerned about the contribution payment. I'm hoping WF will work with us a bit here. The rep mentioned the possibility of breaking this up into a couple of installments. Fingers crossed.

[mzwxrb]

Additional Info - registered with NACA, not able to get a phone appointment for some reason. Anyone have any ideas?