Wells Fargo Home Mortgage. My experience

The day after my husband was laid off work on Jan. 17, 2007 we contacted Wells Fargo and let them know and began asking for reduced payments because he was only making $347 a week unemployment and we knew that we would not be able to keep up the mortgage of $1350.24 and we were told that until it was behind there was nothing they could do as it was paid up and was not late at that time.

Well, in Feb. 2007 when it became late they called many times a day even though we had no new information to give them. Then they also asked us to do a budget which we did and submitted it 4 times and each time was told that they could not do anything to help us as we had no money left and there was no way to work out any repayment plan when we had nothing left at the end of the month.

They still continued to call numerous times during the day even though they knew they were not going to help us. Then on March 19, 2007 my husband was fortunate enough to get a job and then they started thinking we could send money before he even got his first paycheck. He got paid the first of April and he sent them a check in the amount of $1350.24 and Wells Fargo returned this to us stating they could not accept partial payments.

So, in May we sent them another check in the amount of $2700.48 and this time on May 9, 2007 I checked my online banking and found that they had turned the check into an ACH debit and had cashed the check and so the same day I received papers that our loan was in foreclosure and when I contacted Wells Fargo was told that because we did not send in the first forebearence agreement that they were going to proceed with foreclosure unless we would work with them. Then I told them about the two payments I had sent and when they checked they said that they were in holding and had not been applied to our account.

Then on May 22, 2007 my daughter and I were at home and someone came to the house taking pictures and stating when asked that Wells Fargo had sent them and they needed to verify who lived in the house.

I then contacted Wells Fargo again and was told if I would again agree to their terms that the foreclosure could be stopped this is their terms:

by June 6, 2007 they want us to send them a check for $2805.25 then on July 6, 2007 $1378.22, Aug 6, 2007 a payment of $1378.22 then a balloon payment on Sept 6, 2007 of $3354.93 that they said could go up depending on the fees received from the attorney they hired.

Personally, I don't feel we should have to pay all the exorbitant late fees and extra interest and these loan sharks should be stopped. They should not benefit from other peoples misfortunes.

Thanks. Kent and Cheryl Mann