Home Preservation is bull shit

ComplaintsBanksWells Fargo Mortgage

Complaint

0
Anonym
Country: United States
I just want to inform everyone that Wells Fargo's Home Preservation department is useless and very deceiving. In the last few years I have faced numerous hardships due to medical conditions, unemployment, and salary cuts, in which I had used  all my savings and 401k, because "Wells Fargo's Home Preservation Program", failed to provide any help and I was denied any help every time. A common phrases I heard numerously were “we can’t do anything for you Sir”, “we’ll have one of our specialist call you back”, and “this call is an attempt to collect a debt”. This program will not work, but influence the buyer to continue paying their mortgage thinking help is on the way, “NOT TRUE”, while Wells Fargo is receiving money and continuing foreclosure on your house. If you noticed that every department from Wells Fargo, when they call the 1st thing out of their mouth is, “this call is an attempt to collect a debt”, which advice you to pay immediately. In the same day Wells Fargo inform me that my home had trigger the initial proceedings for foreclosure and notify you that you have 34 days for repayment (this was more like a threat than a notification) and later that day I was contact by this department and was told different, which recommended to continue payments and my loan will be reviewed by an underwriter within 30-60 days.  Wells Fargo is full of s***, they don’t care about you; because the loans are insured and they will get paid no matter what. Their goal is to squeeze your money while they’re following the state foreclosure guidelines. This is why the government is currently auditing the bank’s foreclosures in search of foul play. Im in my last proceeding and I trying to borrow money from family members to repay the passed due amount…..”Why you may ask?” This is my roof over my head and all my money has been invested in this home, I don’t want to lose it for just $8K. I recommend that if your facing this situation it’s better to make a decision early and decide to either stop paying mortgage and save your money (live free for 6 to 18 months free) or borrow money and make your account current only if you believe you can continue paying your mortgage for at least another 1-1.5yr. Don’t depend on Wells Fargo to provide any help or alleviated your situation. Avoid working with Kevin Finnen and Zanarda Johnson Home Preservation Specialist.

They don't want you to qualify and they ask for the same documents numerous times, change process, change forms, and change personnel in the process to start all over, and missing information, which was never requested.


Check this websites:
https://www.wellsfargo.com/press/2010/20100115_HAMP
http://www.johnmschwarzlaw.com/wells-fargo-analysis-50-fail-hamp-eligibility/

Comments

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  • 0
    gotlucky
    u people are all crazy!!!!!!!!!!!!  you have to do your homework to get a modification. not to hard to do.
  • 0
    da da
    I think we need to all get togather and filed a class action lawsuit against these crooks.
  • 0
    susie
    i was sent those loan modication past two years progress. i had to hire an attorney but i had to paid twice time my mortage to keep my house. Had to claim bankkurpy it was hard when my husband lose his job. my case was dismissed.
  • 0
    Ronnie Prude
    | 1 reply
    I'am so frustrated with W/F they just give u the run around they this agent is handling my file/thenthis agent and another and another its just frustrating they don't want to help they just string u along till u give up.(Diane Hillard-Mirian Miller/Clarence Edwards n many more)they're playing with peoples lives and don't give S@### about you r me
    We Need Help Now Any Body with any information that can help pls contact(rprude@gmail.com)  

    Thanks
    • 0
      tsheron replies to Ronnie Prude
      Contact your state representatives Bombard each one with paper of what you been going through.
  • 0
    roc
    | 1 reply
    Wells fargo mortgage ny intent to foreclose how long can stay in house
    • 0
      tsheron replies to roc
      approximately a year.  Save your money
  • 0
    lucy
    I had my neighbor call to tell me some man was changing the locks on my doors at my house. How is it possible for a third party to come into your home change your locks and u cant even get into your own house. He even put a different lock on my shed.
  • 0
    Margaret Mc GILL
    All i will say is i agree they are all talk trying to help you !!!!!!!
  • 0
    WatchYourBack
    I'm very disappointed with the Wells Fargo bank in West Virginia, my so called Loan Specialist Tammy T. was extremely disorganized (messy), she had a very nasty attitude and was not professional at all, she gave me the run around about the loan without even reviewing all the facts. I am very disappointed with this branch, I suggest they get themselves a new Loan Specialist before she makes them lose more customers.
  • 0
    Jill
    I am a home preservation specialist...loan modifications are designed to help people with hardships save their homes from foreclosure.  The type of modification you can get, depends on the investor that holds your loan.  FHA for instance does not forgive any past due amount, but simply puts it on the back end of your loan in most cases.  Privately held loans can sometimes forgive back due and even some principle on some loans...investors provide the guidelines which the banks are allowed to use to modify the loan, some allow for interest rate reductions, principle reduction, and recapitalizing the back due into the loan.  Most investors attempt to get your house payment to about a 30 percent to gross household income threshold.  if your loan is already within 30 percent you might get denied a loan modification for affordability, or the exact opposite can occur, the lender is unable to adjust the loan due to investor guidelines to get the payment to affordability.  80 percent of applicants do received some kind of help, not all who apply are eligible.  I will say, though loan modifications are helpful in keeping your home, not all are financially in your favour in the long run.
  • 0
    P c
    My husband lost his job summer of 2012 as a result of a severe car accident, we contact preservation right. They told us we had to be in default first in order for them to even consider us for a lower payment option. Soon our reserves depleted and October 2012 was upon us & couldn't pay. As we survived Hurricane sandy it truly was a life changing experience. Our reserves we used to fund the mtg payment and keep it up to date we needed to survive the storm. With our continued communication with the preservation department they assured us that because we were in the federal disaster area that they would allow us time to retrieve docs for modification, jan/February/march 2013 passed & we continued the effort of submitting the requested documents from several different reps and the mortgage was severely behind. Any payments that were sent to Wells Fargo in the meantime were rejected & returned to us.They said that they would not accept any payments less than the full amount due, not even in a holding account? our rep assured us to hang in there, that the modification consideration was near. We received a letter & a call a day later  in early April 2013 with the sad ending that there is nothing they can do for us...an executed a demand of $24k. Or else...! We have since overcome our hardships but this ordeal haunts our credit report by showing 180+ late in the history. WF did mod us b4 back in 2005 & that will mature in 2050...tywf.
  • 0
    Bob
    Maybe you guys should pay your mortgage like you are supposed to and or shouldn't have bought a house you couldn't afford to begin with!
  • 0
    Megan
    You signed on the dotted line to make your payments by a certain date each month. Bad things happen all the time, and you need to prepare for them. Just as Dave Ramsey says, sooner or later it's going to rain. If you can't make your mortgage payments each month and be able to save, you can't afford the house and should sell. People are willing to destroy their lives to stay in a house that they cannot afford. Don't blame the bank for your own stupidity. Having an emergency fund is more important than homeownership. Job loss, ill health, death, and babies happen every day, and it's ridiculous how people go through life not preparing for any of them. I would rather live in a shack and have the money to be able to use on life's surprises than live in an expensive house and have to plead for a modification because I wasn't prepared. People are lucky that the banks offer modifications at all. My advice: learn how to rule money, don't let money rule you. Going to Financial Peace University is a good start.
  • 0
    carl
    I have been going through this with them forever. they ask for a job verification form and it was faxed 10x and up to now they claim to not received it. [***] dirtbags, they are not trying to help you at all.
  • 0
    tsheron
    I too agree, Wells Fargo is a sham.  Contact your state representatives and bombard them with papers of what they have done to you.  I asked for a modification and was told no.  I filed bankruptcy and like magic I was given a modification.  The problem is that once you file bankruptcy and receive a modification.  Wells Fargo then will not report your payments, resulting in none of your payments being sent to credit bureaus.  Your told to reaffirm the loan and then they will report.  but, I am making payments as agreed in the modification.  You have spend more money to open the bankruptcy case, more lawyers fee.  It's crazy.
  • 0
    Roberto Castillo
    Paying on line. Not user friendly. And they charge $20.00 to take your payment. Changing a password is a task. Then, just when you think you got, then you still have to "get a code". But there is no room or where to put the number to receive the code. And the landline number they have does not work for the "code".
  • 0
    Beav1
    I have been fighting with Wells Fargo for 2 years - now I am asking "60 Minutes" to investigate their home preservation department - anyone want to be listed as a contact for their reporter? Also seeing a lawyer regarding a civil suit based on their lies and deceit - how many would like to file a class action suit? Let me know - I am ready to fight!
  • 0
    Wells manager
    I so agree with your, run run and run.
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