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My Wells Fargo story. No happy ending... yet.

Discussion in 'Stop Foreclosure and Tell Us Your Story' started by Liz224, Oct 7, 2010.

  1. Liz224

    Liz224 LoanSafe Member

    So... I got in a bind a few months back and fell 3 payments behind on my mortgage. I spoke with Wells Fargo and made payment arrangements to catch everything up within 6 months. I paid the arrangements on time for 3 months and, again, fell behind. To make a long story short, they started to foreclose. About 2 weeks ago I paid them the amount they demanded to stop the foreclosure, which also brought my mortgage payments almost current and 2 months ahead of schedule, had I stayed on the payment plan (as of this date I owe the September and October payments). At this time I was told that I will also have to pay around $1200 in fees, which I expected. I called today to make my September payment and their $1200 in fees over the phone and they refused to take my payment and will start foreclosing again unless I make BOTH Sep & Oct payments and FIVE THOUSAND DOLLARS in fees in FIVE days!!!! How is this legal? I have sold everything that can fetch a price just to catch up. There is no possible way I can come up with 5K in 5 days. If they start foreclosing again, will that be another 5K? Do they even want me to keep my home? I'm really trying to avoid retaining an attorney since I would be completely caught up if they would just take my payment, but I'm starting to feel like I don't have a choice! Any advice?
  2. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    They are making all their profit on fees because they probably don't even own the loan. Once you go past 90 days late, unless you get current, they can pretty much quit accepting payments anytime they want. It will take them some time to foreclose, so if you can continue to save up your money, and get ahead, you should be able to have enough by the time of the sale. Have you asked them about a permanent modification to add the past due to the balance? But the date you pay them is important. After the first day of any month, at that moment you owe another full payment to get caught up. If you can come up with Sep, Oct, and fees by Oct 31, they have to accept it. If you wait until the 1st of Nov, you would need another full months payment to bring you current. 'Current' to them means paying within 30 days of the due date. If you had called them on Sept 30th, they would have accepted your payment. It is a crazy system.
  3. Liz224

    Liz224 LoanSafe Member

    Any idea of why the fees would jump from $1200 to $5000 in a matter of 2 weeks time? I was told they are "foreclosure fees" and all I got was an apology when I told the guy that I was previously quoted $1200 for fees.
  4. msucarole

    msucarole LoanSafe Member

    That's the game that Wells Fargo plays. They did it to us and sold our house. We missed three payments and sent them the fourth, they sent it back. Then they asked us to send $5000 out of the blue, no papers, no guarantees, nothing. We didn't and our house was sold three days later.
    They ask you for something, then they move the line. Never a straight answer, nobody every knows anything, you can never speak to anyone in charge, it's all so ridiculous. I would love to be part of a class action suit against Wells Fargo.
  5. Moe

    Moe Call 1-800-779-4547 Staff Member Loan Safe Mortgage

    I would say that the fee increase is based on where it is in the process. It can get to maybe 90-120 days late and go to the foreclosure dept, where some fees are added, and once it goes past the next mark on the calendar, it goes to an 'att'y' to review it for foreclosure. I would guess they have a set fee schedule for each step, whether or not any extra action was actually performed.

    If you had paid the Sept payment just 7 days earlier, you might have saved the fees. WF doesn't mess around.

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