Subordination Agreement TPP already done. Foreclosure in 20 days

[danielwf]

Hello everyone. I am Dan.

I just found this website yesterday and for the last 24 hours I have been reading almost all the post and I can't anything like my case.

Let me give you a background of my case.

It is a 80/20 both with Wells Fargo.

Almost 2 years ago I started the process of a loan modification with wells fargo. I was using a lawyer to help me whit it (and with a foreclosure defense too).

Without any success or advance with the loan modification and the foreclose defense, I had set a sale of my house on February 22nd 2012. I was devastated, I stop the services of the lawyer I begun doing all this by myself. Talking directly with Well Fargo and asking them to please give me a answer before the sale date.

Just 4 days before the sale date after 2 years of back and forward, emails, calls, faxed, etc... I I received a call from Wells Fargo Home Preservation Department, telling me that my HAMP modification have been finally approved. The condition more or less the same of the other people (2%, 3%, etc....). Well I need off course pass the Trial Payment Plan process. I ask them to stop the the sale but the lawyer of the bank told me that they cannot stopped because it was to late they needs almost 10 business day to do it based the (Florida law) I am not sure.

Well for 4 days I read any page related, forum, reviews, etcc in google, trying to understand what I have to do. Finally I just go to the court the same day of the sale and asked to the judge for a Motion to Cancel and finally he canceled the sale (well it was not cancelled was suspended (July 10th 2012) until one month after my third trial payment plan.

I was doing all my pays almost 10 days before the due date. And finally 3 weeks ago I did the latest one (the third) I called the WFHPD, and I did the pay, they told me that in approximately a week I will going to received the final packaged I just need to check it I I agreed I need to signed and send them back in no more that 15 days and we are done. It was perfect.

Well after a week (June 1st) I called the same department and ask them, what happened that I didn't receive any packaged yet. They told me that there are a "little" problem. They need a subordination agreement for the second lien (Heloc), remember that my loan was a 80/20. In order to they move forward, they have to make sure that they have the first priority on my home. What? they check all the documents, they asked me to pay 3 months and it is now when they are going to check the title?,, this is normal?

This was 2 weeks ago and I didn't received any packed yet, I don't know what I have to do it. At the same time I am 2 years late with the HELOC too, I just was waiting until the HAMP was finally approved to ask for 2mp plan .

I am desperate, please any suggestion, what I can do?, this is normal? just wait, what will happens with the foreclose it is in 3 weeks.? what can I stopped? there are time?. What can I ask Wells Fargo?.


thanks in advanced

Dan

[brandoncheah]

Your best bet is to email the executive team at Wells and detail what you have posted here. They will get back to you within 24 hours. Seriously, they are the only ones that actually get anything done.

[danielwf]

Hello brandoncheah

Thanks for your answer, I am really appreciate.

Where i can find exactly the email to send to the right person?

Thanks again


Dan

[TomEason]

Hi Dan

Thanks for your posts. Sorry to hear of your predicament.

Emailing is OK. But I recommend you also write a letter CMRRR to the WF office of the Chairman and CEO in SF. The CEO is Daniel Stumpf.

Explain the situation and ask that he have the FC sale postponed to allow sufficient time to accomplish a loan subordination, if needed.

Although I can't imagine why a subordination by the HELOC would be necessary as the 1st's promissory note is only being modified, not replaced, and the recorded mortgage lien isn't being altered at all. But what do I know, LOL.

You might call WF to ask for Stumpf's email address. Good luck. Hang in there - you can do this!

[Cat Damiano]

Hi Dan,


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

The CEO of WF is John G. Stumpf and here is the information for you;

John Stumpf (CEO)
(415) 396-7018
john.g.stumpf@wellsfargo.com

420 Montgomery St.
San Francisco, CA 94163
1-866-878-5865

[danielwf]

Hello Everyone.

Let me give you a fast status of my case.

I got to stop the foreclosure for 2 month more. I introduced a motion to cancel and the judge gave me 2 moth more (finals august it was reschedule the sale date).

On the other hand the home preservation team asked me for more documents supposedly to get the subordination agreement for the second (HELOC) they asked me for a copy of the taxes, profit and loss of my company and homeowner assistance form.

Now this week I just did my 5th payment of the Trial payment Plan (supposedly it was just 3 and after that is done).

The question is:

On my last conversation with HPT at WF they told me that this process could be take months 3 or 4 and they told me that a third company like Century 21 or Remax has to do a internal and external evaluation of my home.

Questions:

1- This is good or bad?

2- My home has to be in really good conditions? For example; paint he walls, fix a couple of water filtrations on the roof, etc... or it is better if they see the home like a bad business for them to keep it or take in a foreclosure? I know this is a stupid question but you understand why I am asking this.

3- My mortgage including the HELOC is almost 400K and in webpages like zillow.com said that the current valor of the home is close to 300K?

What do you think? any suggestions? I am really want to finish this nightmare and keep my home.


Thanks in advance

Dan

[Cat Damiano]

Hi Dan,


Have you contacted the CEO's office yet? What did they say?

[danielwf]

Hello Cat

Thanks for your answer.

Well the answer is NO I didn't contacted yet... Why?

Well maybe sound a little bit stupid but I'm afraid that if I contact the CEO office directly, after that all the person that are "helping me" now in the Home Preservation Department, could be feel upset and try to affect my case negatively.



dan

[Cat Damiano]

I was only asking because it just seemed from your initial post that you were looking for help in escalating your file which you had posted was not going anywhere.