So, back in January I started working with WFHM on getting a loan mod or other help. I sent in all the paperwork several times, got assigned to my "home preservation specialist", etc... Told to wait...they have sent my loan to underwriting and it could take 4-6 weeks. After calling weekly to check in, I go one week without calling them and then they say they tried to contact me because they were missing one piece of information but I never got the phone call and they never left a message so they "closed" my file!! They agree to re-open my file, I fax the missing piece of info and they start all over again. Just 2 weeks later I get a phone call from the preservation specialist saying "we can't help you, you can't afford your home...we'd like to help everyone but we can't help you". I ask several times for an explanation and to verify what income they are going by (I make gross of $4,156/mo), and my mortgage is $1646/mo. I only have $225 per month other debt (student loan plus 1 credit card). The specialist refuses to give me an explanation and gets snotty when I ask for his supervisor?!! Then he hangs up on me. So, I get the Wells Fargo executive contact info from this site and I email those folks. I get a call back that afternoon from Adam Lawman in their complaint division. He asks me to send all new docs which I do. Sent those in on 4/10/12 and verified they did get them.
Now, I finally get a letter in the mail from my former "specialist" and he says "we carefully reviewed the information you sent us and explored a number of mortgage assistance options. At this time, you do not meet the requirements of the program because: Your pending mortgage assistance required approval from the investor that ultimately owns your mortgage, and the investor has declined the request."
This seems like a catch-phrase and not an explanation??! What does this mean? Especially since I found out that Wells-Fargo is the investor!! And they act like it's some other entity.
I am still waiting to hear back from the guy at the Exec. team, and I have called and left messages. Finally, today I contacted my senator's office and they are going to investigate. Is there anything else I can do? I suppose they don't want to give me a HAMP mod because it's not a great deal for them (but still better than a foreclosure, I think!).
My unpaid principal is $278,000, interest rate is 4.5%. It's a FHA loan.
Any suggestions? Ideas? I don't want to sell or short-sale or any of that.. love my home and want to stay there despite the value having dropped a lot. Thank you!!