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
    Mike
    well i got the call yesterday, my modification went through. dropped my rate 1.5% and has dropped my mortgage over $300 a month. such a huge stress relief. theres a 3 month trial payment period and then they finalize the new 30yr mortgage. my question is- since it looks like the payments i missed will be wrapped up into a new mortgage, hows this going to look on my credit? also anyone know what the terms on selling the property would be given i am resigning a new mortgage?
  • 0
    Wells Fargo Customer
    Office of Mortgage Settlement Oversight
    Joseph Smith Director.

    http://mortgageoversight.tumblr.com/tagged/Servicing%20Standards

    JS Quote: There 300 standards defined governing how servicers treat their distressed customers.
    These standards are monitored by Joseph Smith quarterly. These reports come from the Primary Professional firms (PPF) and the Secondary Professional Firms (SPF) handing the servicing.

    Important!! There is no monitoring or surveying of the distressed customers being served.
    Consequently the distressed customers’ only way of feedback is via online forums

    Standards:

    Customer service (including communication
    protocols, single point of contact, staffing levels,
    training and oversight) Standards that govern
    interactions between borrowers and their
    servicers to enhance service quality and to reduce
    confusion and lost time

    Documentation
    (including preservation of original note, accuracy
    of information, borrower access to documents)
    Standards that safeguard the paper trail so it is
    accurate and available to all parties.

    Loan modification
    Standards that define borrowers’ ability to modify
    the terms of their loans and servicers’ obligations
    when they agree to consider a loan modification, in order
    to make foreclosure a last resort.

    Single Point of Contact (SPOC)

    1.    Servicer shall establish an easily accessible and reliable single
    point of contact (“SPOC”) for each potentially-eligible first lien
    mortgage borrower so that the borrower has access to an employee
    of Servicer to obtain information throughout the loss mitigation,
    loan modification and foreclosure processes.

    2.    Servicer shall initially identify the SPOC to the borrower promptly
    after a potentially-eligible borrower requests loss mitigation
    assistance. Servicer shall provide one or more direct means of
    communication with the SPOC on loss mitigation-related
    correspondence with the borrower. Servicer shall promptly
    provide updated contact information to the borrower if the
    designated SPOC is reassigned, no longer employed by Servicer,
    or otherwise not able to act as the primary point of contact.

    Documentation

    Servicer shall maintain procedures to ensure accuracy and timely updating of borrower’s account information. Servicer shall also maintain adequate documentation of borrower account information, which
    may be in either electronic or paper format.

    What to do if you’re having problems with your Mortgage Modification servicer:

    Always remember, Mortgage servicing companies are being paid with TAXPAYER funds by the Federal Government to provide you Mortgage Modification services. They are in service to you, not the other way around. The servicing standards are set up to limit distress to borrowers in an already stressful situation.

    Each state’s Attorney General’s Office is involved in the process. If you’re having problems as indicated in this forum, you need to download complaint forms and file them. This will not affect the outcome of you settlements. The Federal court rulings set up standards to protect you.
  • 0
    aggravated
    I too, have been "working" with Wells Fargo for over a year for an equity loan and mortgage modification. I was granted after 8 months, a loan modification for the mortgage. However, the monthly payments were higher than what I was paying? and would go up after the first 5 years.  I borrowed money, and used my 401K to stay afloat for as long as I could.  I reached out to them, and was told "there is nothing more we can do for you" over and over again. My home preservation specialist who cannot return a phone call was in my humble opinion, useless.
        I received Act 91 papers and with advise from a bankruptcy attorney did what the Act 91 paperwork told me to do.  It was very stressful and had to recount my story again and again to a Credit Counseling Service.
        I then continue to get calls "collecting the debt" from the same department that sent the Act 91 papers, and guess what?  The people they have calling from the "collection" areas have NO IDEA what an ACT 91 is!! How do you send out foreclosuer proceedings and have no idea what you have sent? So I education several reps and suggested they look at my call transcipts and notes on the account. The left hand doesn't know what the right hand is doing at Wells Fargo, and we, the consumers who are trying to remain transparent in our hardships are suffering.  
        I have done all I can at this point.  I would recommend anyone going through this , to contact an attorney, or Legal Aid, and get advice.  They are not handling these situations well at all.
  • 0
    pauline
    i was denied what do we do now we have put in for a nother loan modification but they said it will be a bit and we are under fourcolleersr
  • 0
    Daisy Mae
    I just want to thank you to all for the information you have posted on this site for Wells Fargo.  I knew something was very suspicious when at first I was told by a Wells Fargo rep. I was conditionally approved in getting an extension on my Home Equity Line of credit but the condition was I had to send verification of myself, which was done, only to be told I was turned down but they would transfer me to the Wells Fargo Preservation Dept. whereby this person asked for a document that states that I was even on the Wells Fargo Equity Loan and asked to send the document of verification, at this point I feel they were just sending me on a wild goose chase.  I have heard awful things about Wells Fargo and in good faith I reached out in getting an extension on my Home Equity account by which I have paid all the time not missing one single payment.  I guess when my time is up on this balloon payment they would rather put me in foreclosure but you can believe  this will not happen if I can help it.  Shame on Wells Fargo and I too believe the Government should do an in depth investigation on this bank, and set them straight!!!
  • 0
    Tammy
    I am fed up we are about to lose our home because of lost income and submitted our paperwork 3 times.  Each time we call to check the status they tell us they have everything they need and that it would be presented to some committee that decides what help they can give us.   Every time we have called back a month later our case was never opened and nothing was done.   Now they require different paperwork, changes to our paperwork or tell us our paperwork is out dated because it sat there and nothing was done with it.  After again telling us they had everything they needed.
  • 0
    alex
    i apply to a weels fargo home preservation after 2 months sent documents every week i received notice from the bank not aproved why my imcome is to lower i make 4.000,00 a month and my loan due is 320.000,00 but i dont undestand the bank how they said is not aproved if their calculate the modification with the same rate like before 7.75% and also they calculate the home insurance 6.000,00 a year this is estupid but if you calculate the rate at 2% my payment going down and also my insuarnce if i purchase by my self is not more that 2300,00 a year but they said not is [***],
  • 0
    liza
    im afraid now,and confused.im in a process of home preservation...
  • 0
    JoAnn Dougherty
    I have been through the same process.   Wells Fargo does nothing for you.   They ask for the same documents over and over again saying that they were not either  signed or dated.  It's total [***]. Do not use a man name Michael light or Ryan Hopson . They  both are rude and obnoxious ..   This has been going on since November of 2012 and still no satisfaction.  I am at my wits end and very frustrated.
  • 0
    Karma
    I had a horrible experience with a home preservation specialist by the name of JASON (under the supervision of LISA B. at extension 84125).  JASON had absolutely no compassion whatsoever!  He was rude, argumentative, unhelpful, liked to listen to himself talk but wouldn't listen to me, talked over me, was condescending and totally lacked what it takes to be in a customer service position.  Yet he thought he was being nice and helpful.  He said it was his job to be frank with people but his frankness was downright insulting!  Then he told me NOT to call the home preservation department again.  WTF!  Who says that to a customer and how does some idiot like that even stay employed?!  Hopefully one day JASON will be in our position.  Now that would be karma.  Hopefully someone from WF reads these complaints.  Thanks for letting me vent - I wish you all the best!
  • 0
    Mike
    Thats interesting Joann as Ryan Hopson was my home preservating specialist and mine actually got through and approved- i just wrapped up my 90day trial and am expecting paperwork in the mail. i found that if i called and left a message with the executive complaints department about the length of time my loan mod was taking they forwarded it to someone else in the home preservation department that deals with complaints. like many said before, call that number and that should get your mod rolling even more.

    i went through the bs of resubmitting my paperwork more than one time, as they sent me the same paperwork 3 times in a week and a half.
  • 0
    tim johnson
    Look at qualification of a home preservation specialist Wells Fargo Home Mortgage.

    How can a Kitchen Design/Cabinet Sales person take a decision on your financials???.


    http://www.linkedin.com/pub/linette-hadley/17/b08/493

    Linette Hadley

    Kitchen Design/Cabinet Sales

       Urbandale, Iowa
       Building Materials

    Current    

       Wells Fargo Home Mortgage

    Previous    

       Specialty Suppliers,
       The Home Depot

    Education    

       Audubon High School


    Home Preservation Specialist
    Wells Fargo Home Mortgage
    June 2010 – Present (3 years 3 months)Des Moines, Iowa Area

    Kitchen Design/Sales
    Specialty Suppliers
    January 2007 – August 2008 (1 year 8 months)

    The Home Depot
    Kitchen Design/Cabinet Sales
    The Home Depot
    March 2002 – January 2007 (4 years 11 months)
  • 0
    eloisa
    Please help me I am in that situation and now my house is in process of foreclosure , which are my options? ?? Who can help me
  • 0
    Mindy
    You are not kidding! I have been dealing with WF for a year they say they didn't get paperwork that in fact they did because the next rep will tell you they did but the previous rep said they did not. My preservation specialist Stephanie never returns my calls and they denied me for the modification, however not one person can really say why because they all tell me a different reason each time I call to find out? What do I do and who do I call to tell them they are breaking the law because I will lose my house soon and there is no reason for it.
  • 0
    Amy
    It is very sad that Wells Fargo can get away with this and has for so long now. Something really should be done about it. There are so many advertisements regarding foreclosure prevention and home preservation that you would think it would be a little easier to get a modification. I have been working with Wells Fargo since November 2012 now and still have no resolution or modification. I have faxed the same documents to them at least a dozen times now. I have done everything they have asked and have gotten nowhere. I wish I knew who to complain to about this situation, especially since I see that there are many people dealing with the same issue.
  • 0
    Angel
    | 1 reply
    Hell everyone.. I have had good experiences that's because I let the hope now folks deal with the preservation people. Stop calling them directly call hope now the number is 1-888-995-HOPE...I almost lost my house several times in different years and I always contacted Hop now and they did all the work for me I did not have to deal with wells fargo at all. Please spread the word with hop now because when wells fargo knows that you have a counseling agency that knows all the programs that YOU WILL QUALIFY for... they have to qualify you. You all had problems because wells fargo knew you had no counseling or info about different programs. Trust me this works. I am in the process again and I have no worries or stress.
    • 0
      Angel replies to Angel
      oooops sorry folks it's HOPE NOW I am typing so fast and my keys are sticking sorry for the misspelled words... Love you guys.....Good Luck...
  • 0
    HARRY
    Class action is the way to go.
  • 0
    todd
    I have read all these comments and been dealing with the same misleading fraudulent treatment.the attourney general Missouri phone # 417-895-6567    jeff city #593-751-3321  HOT LINE# 1-800-392-8222
  • 0
    chuck45
    I have had many problems with WELLS Fargo, Ive been trying for  years now to get a loan mod and I have had 3 different workers, I send what they ask and each time they send me a paper with more documents that require. And to get ahold of you case worker is a joke. so we tried another company for a loan mod even asked Wells Fargo if they have heard of them they said I think so we deal in a lot of compamies who do this , so we went with them and got scamed. Called Wells Fargo and they had Nothing to say but try to collect what we owed them, Even my Congress Women called they told her they never heard of the company, as to this date we are still submitting paper for our home mod.
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