Im Desperate need help with hamp tier 2 modification wells fargo

cjones5349

LoanSafe Member
Apr 1, 2010
2
0
1
I was able to obtain a Hamp in Jan 2011, I made 3 trial payments and it was finalized May 2011 during that time I got laid off I still made my payments on time. I contacted WF and they approved me for the Unemployment program which reduced my payment in half while I was unemployed. I finally got another job and WF UP program states you have to pay back the difference and fees which at the time was $8,000 which I borrowed from my mother to pay. I'm back on track and then in Nov 2012 my mother became ill and we found out she was terminally ill and she needed home health care which is not totally covered by insurance so I had to contribute to make sure that she had what she needed. I contacted WF and I was informed that there was a new program a Tier 2 and that I qualified for it so the fun begun, submitting paperwork again and again. During that time I offered to send in partial payments but was informed no they would not accept them. In April 24, 2013 I was informed that I was denied. I panicked and hired a loan mod company who scammed me and my employment hours were reduced from 40 to 32 hours per week and I checked which I then met the qualifications so once again I submitted paperwork, October 2013 I was informed that I was denied stating that I could not afford my mortgage, all they advised was a short sale. 2 weeks later my company put me back to 40 hours so I contacted WF again and said now I can resume the original payment they informed me that I owed over $15,000 in back payments. I asked if they could put it to the back or even do a balloon payment in 5 years as I will get $54,000 in 3 years from my ESOP from my former employer, once again they told me to submit paperwork again. My mother passed away January 3 of this year and I had to pay for her funeral. Well I just received my third denial saying that I can afford the payment so now my options are pay the arrearage or short sale. I do not want to lose my home, the WF Preservation team member told me I just needed to accept their decision and move on and no lawyer in the world is going to get my loan reinstated for me. I am so stressed and I am still grieving the loss of my mother. I am feeling so defeated. Any advise would be greatly appreciated.
 

TomEason

LoanSafe Guide
Jun 18, 2009
12,390
84
48
SF Bay Area CA
cjones5349

Welcome to Loansafe.

I'm sorry for all the troubles you've been through. And to boot, WF is of the worst loan servicers there is.

I recommend you escalate their denial decision, and demand they explain in writing why you were denied, including providing you with the NPV inputs they used.

I recommend you avoid dealing with your assigned SPOC. He sounds like a real d**khead. You'll go nowhere dealing with him.

I suggest you write a letter to the CEO's Office (John Stumpf is the CEO) explaining your situation and asking for his assistance.
 

cjones5349

LoanSafe Member
Apr 1, 2010
2
0
1
Mr Tom,

Thank you so much for your advise and I will definitely do what you suggest. It is all so overwhelming and I can honestly say I admire all of the others that continue to fight for their homes. It is extremely difficult to dig deep inside of yourself for courage when I am grieving the loss of not only my mother but my best friend. I do not want to lose my home but I have spoken with several different attorneys and they all suggest filing bankruptcy but that does not make sense to me to add approximately $500 per month on top of my mortgage payment and have the judge mandate to the mortgage company to modify the loan (what a waste of money and time) we should be able to do this prior to having to do this. Sorry just venting. I do not want to file bankruptcy. I will keep you informed of my progress and thank you for giving me the courage to continue to fight for my home.