A HAMP Loan Modification Update

I have an awful Pick a Payment mortgage that I am desperately trying to modify. It is totally out of range of my income. I"m paying 35% of my gross income monthly for less than the full interest payment and my principal increases monthly. I recently spoke with a Home Mortgage Consultant with WF who told me that a short sale is my only option! I am not eligible for HAMP because the loan is not backed by Fannie Mae. I think I"m being ignored because I am making payment every month however it's hurting me in the long run because of the principal increasing. Suggestions please!!

Where are you currently with the World/Wachovia Pick a Pay loans? My loan just went up $200 a month and we are getting dangerously close to trouble. Is there any hope for those of us with the Proprietary loans?

I was just wondering what you meant by the statement "like those we are doing for Wachovia Pick-a-Payment customers and other" WHAT are you doing for the pick-a-pay people, like us who are struggling so desperately. We have been trying to get Wachovia to work with us since 2007 and they tell us they have no programs available to us???

We have been talking (or attempting to talk) to Wachovia for months (read, almost a year now, even before the MHA program) regarding trying to do something to make our Pick a Payment mortgage more affordable as the 3 year point arrived. Which, by the way, we went into after being pressured by a predatory World mortgage lender who told us it was going to build our equity FASTER (how little we knew); at the time we were more than able to afford it and had almost perfect credit, and it was a refinance, so our case is not the same as others who are now unable to pay when they never really could (I see the blame game a lot in some of these financial posts). My partner is self-employed and his business has been hit hard by the state of the economy and so his income is much less. Property prices in our area have dropped significantly so now our mortgage is more than our home is worth (which we are also being told is less than what we originally bought it for almost 5 years ago). Our mortgage is now more than 60 % (!!!) of our monthly income, we have been told we are a critical case, but are also told that since we are not freddie/fannie we are at the bottom of the list for help. While we are not behind yet, we are being forced to take cash advances on credit cards to stay current, which just puts us further in the hole. We have called repeatedly just to get the run around for HOURS at a time. We keep getting put off, transferred, the phone numbers for the loan department keep changing, they tell us they never received our paperwork or its the wrong paperwork even when we ask "is this exactly and everything we need to submit", or they have no record of our calls despite our request that they make a note in our account, etc, etc. We are frustrated and angry that this program is out there, we are eligible for it, we have fought to stay current, but keep being told they don't know when they can help us. When is Wachovia going to step up its game and help those who are desperately in need and DONT want to lose their homes that they have worked so hard for? When are they going to address the truly critical cases despite the fact that they aren't freddie/fannie mortgages?

I am curious as to why it has taken 5 months to complete a refinance. We started the process in March and still have not closed on it. I call daily and get no response. Is there ANYONE who can help me out? Is there anyone else out there who is in my same position?

I’m in a different boat than many. Trying to convert a 30 yr fixed/ 10 yr interest only loan to a conventional 30 yr fixed. No late pays, no financial stress. I have been working on the process since May. The loan rep initially gave me incorrect information about the costs and particulars of the loan, but I moved on. It was under his guidance that I went through the government program. Seems like this is a confusing program for Wells.

Despite the fact that I disclosed a HELOC ($0 balance) in the beginning of the process, it was not underwritten during the first round. I was given the option to shut it down to close the loan or send it back to through underwriting. Since ltv is 82%, I said send it back. It’s been a month since and my HELOC lender has not received a subordination request (they say they are turning these around in 15 days and I have someone lined up who will walk it over for processing). I have been told (but not offered in writing) that Wells will honor the rate lock extension at no cost, so I’ve been patient. I’ve had two loan processors, both have been good – my sense is much of this is out of their control. Can you get me to someone who can help?

My husband and I are going through a rough financial patch like many others. I have been laid off since March 2009, and my husband's income has decreased. Our current mortgage payment is 41.25% of our gross income, we've been able to make the payment, but have had to borrow money from family. My husband just found out that he will be laid off in the next few weeks increasing our mortage payment to 53.75% of our gross income once we're both on unemployment. We just called Wells Fargo this week to inquire about Loan Modification and are getting our info together to send over. According to the HAMP website we qualify for the program and our loan is Fannie Mae guaranteed...do we even have a chance? It seems like people all over are having such a difficult time. You stated that there is a HAMP Trial Modification that you are gearing up to qualify most borrowers for during the 1st point of contact and send eligible customers a trial mod agreement w/in 48 hours. How does someone go about that? Or is waiting for the packet of info and faxing it over the first step?

I have an equity line with Wachovia and am paying interest only at this time. I have been trying to get into a forbearance agreement or a loan modification because I am struggling like everyone else. i do this for a living and get everyone else into something but I can't get myself into anything I need help and I need it now please wahovia just doesn't seem to want to help me I need a forbearance for about 6 months and then I can get back into the swing of things I had to take a cut in pay and my husband is disabled I need help now please contact me and see what you can do for me thanks dk

We tried twice to get a home loan modification only to be told we didn't qualify. How can one qualify under the Federal guidelines but not with Wells Fargo? Now they want us to buy a $40 video to find out what they want us to do to make the application work? You've got to be kidding me! It's obvious they have no desire at all to help.

We submitted our paper work for a loan modification in Dec 08 my husband was laid off and has been for over 8 months, we keep getting the run around we have submitted all of the required paper work 3 times and keep being told another 4 weeks, another 4 weeks, it has been locked up under the modification department for 5 straight months, we have to beg them to take our payment we can't pay at our local branch it is locked up why do they tell us another 4 weeks, another 4 weeks, it has been 8 months please help!!!!!

Why doesn't Wells Fargo Financial offer HAMP?

My mother is in a 15 year and cannot make the payments due to the death of my father.

WFF refuses to discuss any possibility of any longterm solution. Only offering temp loan mods.

Doesn't make a lot of sense to me that WFhome will work with folks but WFF won't.

I was surprised to read that it is Wachovia's goal to offer a Trial Modification within 48 hours, and then work with the borrower during the trial period to gather the required documentation. I have submitted all of the required documentation and I am still waiting on a response, nevermind a modification agreement, even though I qualify. I applied in April, when I first thought I would have difficulty paying, trying to give my lender as much notice as possible that I was getting into difficulty. Now I am in difficulty and I had hoped that something could be done before now. From my experience the 48hr goal is unrealistic.

we are trying to get a loan modification with Wells Fargo from february( lost of income)...we send more 10 times documents( pay stubs hardship letters and all the info they asked for)!We receive letters that they are working on a loan modification for us but every time we've been denied we are 9 months behind our payments .we talk to different people every time and nobody seems to help!we just got a letter on jul 30th that they are working on a loan modification and will take 45-60 days to complete....aug 7th another letter that they couldn't contact us so we've been denied!we just have a house phone no cells(cut the expenses)and nobody leave us a message!
i just called today(we are calling every week since february)and they told me to send the same papres that i send on july 22nd...i'm ready to give up...i paid for my house in 2007 $218000 and now the value it's around $120000...i don't know what to do anymore ... i really want to keep the house but i can't pay $1800 ...maybe it's better just to let it go... please give me an advice!!!Thank you so much for your help!

If your payment remains the same as your current mortgage during the 3 month trial period will this amount change after the 3 months is complete???

I keep hearing that Wachovia/Wells Fargo plans to stop using the COSI index for the pick-a-payment loans. Any information on what the new index might be and the timeframe would be helpful. Are any of these loans considered 'Fannie' or 'Freddie' or 'FHA'?

Why are there no loan mod programs for conventional pick a payment customers who have hardship. I acutally put my own money down when I bought my home.
But those who have 100% financing and fannie and freddie backed mortgages are getting all the assistance. I deserve the same consideration and assistance. Please have someone contact me that knows about a loan mod for my type of loan.

Our monthly mortgage payment has been at least 50% of our pre taxed income for nearly 19 months due to a major cut in our income. We have been liquidating savings, borrowing money from family, which is no longer an option, and borrowing from our IRAs to make ends meet. Back in February 2009, we applied for a loan modification which took about three months for an answer. We were denied because a loan modification was "outside of our investor’s guidelines." WF recommended we start the short sale process. This made me think that no one ever researched our loan to start as right on our financial worksheet it shows that we are not even close to being upside down on our home, therefore a short sale would make no sense in benefiting us or the lender/investor. Secondly, I called WF shortly after our denial and they told me our investor(s) do not participate in loan modifications, however they may consider us if we were in default and there was no guarantee that if we went into default we wouldn't face foreclosure instead of a loan mod. YIKES...that was not positive information. So is that it? No negotiating with our investor, no proving to our investor that this would be an ideal candidate with no late payments yet? It is our number one goal right now to keep our family in our home. We have always been serious about our relationship with WF and we wish they would take our situation seriously. Any advice?

I have a WFF home loan 1st and 2nd. My first is an ARM. we have applied for a loan modification and were told that we were pre approved for a HAMp on Aug 12. But my loan is backed by Leman Bros. is this even possiable? How long will this take? I sent the paperwork in the 1st of July???

I am hoping Wachovia is not giving us all the run around, I have search the internet, looking for Wachovia "success" stories with the Hamp program, so just complaints and frustrations!, I've beem waiting and calling, I was told I'm in the Hamp Program,but it's under review,(4xs) it's been 2 months since first contact, so far they given me different excuses each time I call, whoever is working on my case is not available or is in a long meeting and will get back to me, I'm still waiting for the return phone call !! Hope President Obama is reading these letters!

I have a Wachovia loan I have been trying to modify for 10-12 mths but I am never qualified for these programs. It is always "call back in two weeks for a new program" and then "I am sorry you don't qualify." I was current on my loan until July 09 and by the way never a late payment since I owned the home in 2002. I was laid off by the state of california for 10 weeks, sent in a hardship letter stating this and asked for 3 mths w/ no payments to get me through these tough times (because in previous conversations I was offered this option but refused, struggled and made my payment). ((It seems to be here is what we need paperwork wise, you send in that paperwork and then get disqualified because I didnt send in all the paperwork which if they would have asked for it, I would have sent it in.)) The offer that came back was they would discount my mortage $200 (yes, two hundred dollars) for the three months and then balloon that whole $600 onto the fourth month. WOW. Thanks wells and wachovia for being there just like your commercials. The next day after this fantastic offer which is really not an option, I called a real estate agent and said list it.

If you read the article they/wells and wachovia will do there part of the 500,000 mods. What is your part?
Go to the following website to see the real numbers and the chances you really have to modify: fool.com/investing/general/2009/08/13/3-reasons-mortgage-modifications-are-failing.aspx

Here is another yahoo search. Search for the following (CNBC on-air personality Michelle Caruso-Cabrera got a home refinance loan from the Obama administration's Making Home Affordable program) Even though this was not a wellsloan refy, it is the same program

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Could you please tell me to what e-mail I can report Phising scams that are elledgedly from your company

I have been waiting for over 3 months (this is after I sent my paperwork in 2x in March, which was later lost by WF). WF made me wait 45 days before they would tell me that they did not have the paperwork in the system. So, I faxed it in a 3rd time on May 12. Then, it took until June 29 to be "reviewed". I call EVERY week on either Thursday or Friday to see if there is an update, etc., and to see if they need any additional information. EVERY time I call, I get the same response: the file is in "review". According to the guidelines for HAMP published by both Freddie Mac (our investor) and the Treasury Dept, we qualify for a HAMP loan. However, a couple of weeks ago, someone told me we were "denied" and offered no explanation. Then, when I spoke with the next person, I was told that being denied initially doesn't really mean anything, because when it actually gets to the negotiator, it is reviewed again. I later found out that the reason it was denied was because only ONE of my check stubs (I get pd. 2x each month) was included in the calculation. Did this typo cause this LONG delay, and would I have my modification already if the calculation had been correct?

I have been under review for the HAMP for over 4 months and have yet to receive an answer. I continue to send in new financial statements every 30 days as requested but no one gives me an answer. Please someone help. This has taken too long...please help. All I get over the phone is that its under review but nothing else.

Thank You.

I have been trying to modify our loan since March with Wells Fargo. I have submitted everything as requested. In April we were told that our mortgage is owned by investors and the investors does not participate in loan modifications. In May, we were told that the investors is currently working on guidelines. Wells Fargo told us that upon completion of the guidelines, it cannot be shared with the public. I continue to call them regularly to find out the status of our loan modification request, and we were told that it was with the investors. Finally on July 25th, I called to check on the status and was told that the modification was denied due to the fact that I don't have enough income. I asked what was the income amount used and I was told $5000, which was only one of our income and not both. I asked for a letter advising me of the denial and the reasons and was told I will get one in about 10 days. I have been waiting since then, but no letter came. Each time I called Wells Fargo, I get another answer. I was told in August to resubmit all new information, which I did. Then I called back to check and in the information was recieved. I was told to resubmit and sign a copy of the financial statement and hardship letter, which we did and resubmit. I called today and was told to resubmit everything again so that they can have accurate. I told Wells Fargo that nothing has changed from the documents you recieved on Aug 14th. I think that this is some kind of game and Wells Fargo has no intention of modifying any one loan. Now I am going out to find other sources to see if they can help. I keep getting letters from Wells Fargo with information how to do a short sale. What is that all about. I would much rather let the house go into foreclosure before I let them try to talk me into doing a short sale when they have sufficient time to help us with a modification and getting our house payments to be affordable. Our loan is interest only and we have lost almost $200,0000 in equity. Do you know of any other company that we can go through for assistance?

I have a loan that is serviced by Wells Fargo and is owned by BofA. I have tried three times to get a loan modification but have been rejected this last time because 'I don't meet investor guidelines.' No one can tell me what the investor guidelines are or why I don't meet them. We lost out income source last year and started a new business. We are now at the point where we can pay all our bills plus about 70% of our mortgage (after tax - if we didn't have to pay tax we could pay all of it). I don't understand why they can't modify our loan. The people at loss mitigation state my investor may want to review my case to make an acception. How ever, the counselor (who never returns my calls) won't pass it on. The file just states I don't meet investor guidelines and I get kicked out of the loss/mitigation system.
All I need is a little help for a while.
I am very frustrated. Please help.

When I bought my house 2 years ago, Wells Fargo loved us. We paid half our mortgage every 2 weeks which resulted in an extra full payment a year. In August of 2008 I got laid off, as did lots of people around the country. I kept up with the mortgage by using my savings and borrowing from family. In Feb 2009, they jacked my mortgage up another $200. In March of 2009 I got a new job but it paid $400 a month less then my last job. So I essentially fell into a $600 a month hole. Since April we have been trying, through Wells Fargo to get a loan modification. We turned in all the paperwork they wanted and I called weekly to get status. a couple weeks ago I was informed that I was sent a letter, that never came, certified, they have nothing saying I got it, and that I was supposed to pay $1200 on July 20th. I had talked to people before this call and all around July 20th and nobody mentioned it. Well to make a long story short...their idea of "help" is to have me pay $1200 for 3 months, then a $6000 balloon payment. My current mortgage is $1200...if I cant pay $1200 without their help, how am I to pay the same with their help and a $6000 balloon payment...doesnt make since to me...if I could pay the $1200 at all...I wouldnt be behind...I have since gone through another company to get a loan modification and Wells Fargo decided it was time to foreclose...thanks for making me want to be a good customer. If I had at least close to my old payment, I would make the payments...they dont want to help...thats why they have done the least amount of the federal loan modifications...their time too will come.

My friend just got a home loan modification IN A MATTER OF 8 SHORT DAYS from CITIBANK. The bank reduced her payment down to 31% of her income, meaning the loan payment drop from over $1400 a month to $580 a month. They did this within 8 days of her simply telling them by phone (no documents sent yet) that she had been laid off and was not able to get by on unemployment. To be sure, Citibank wasn't all that upfront initially. During the first few minutes of her call, the bank offered to lower her interest rate by 1/8th, and when she didn't bite, they offered to postpone payments for 3 months (adding it to the end of her loan). Only after refusing these "gifts" did Citibank come forth with the govt bailout option! Seems none of the banks want to participate really. In the latest news reports this month (August) summarizing how poorly ALL the banks were at offering this to customers, WELLS FARGO was the rated the worst of the big banks. It process a mere 6 percent of the apps for this, whereas citibank processed about 16%. Still not great, but twice as good as wells fargo. Shame on you wells fargo!

Yes, what does this mean: "The rest are proprietary modifications — like those we are doing for Wachovia Pick-a-Payment customers and others — who either don't qualify for HAMP or who may get greater benefit from a different solution."

What ARE you doing? Certainly nothing with any clarity or consistency. How about setting up a website JUST for fomer Wachovia Pick a Payment Cuastomers to let them know
what there options are? Wachovia/WF has been clear as mud on this issue.

Please help me understand. My husband's income was cut in half in February. In March we looked into a loan modification option. We received documents quickly to complete that gave us a 3 month trial period for a good deal less that our original payment but the mortgage invoices coming in the mail were the same amount as before. When we contacted Wells Fargo they told us that things had changed and we were no longer qualified for the loan modification because we hadn't missed a payment. I encouraged my husband to call back and try to wet to the bottom of that. When he called, they had him send in the paperwork again and then we were told not to make a payment until something was decided upon. The following month we were told that we could make a payment of either the original loan amout or the trial period amount and that the loan was still in review.

Please review this and either validate the information or tell me where to go with my concern.

Thank you,
B

I got a wachovia pick a payment loan, i am trying to modified, wachovia offer me a map but it was a step loan ,i still cant afford it, WHEN IS WACHOVIA GOING TO OFFER THE HAMP LOAN? Wachovia took money from the goverment they got help, when are we the tax payers going to get help.

I just recently applied for the HAMP program with WF. I was told it could take up to 90 days to be assigned a processor and then another 90 days before I will know if I am approved. Is it true that WF can negotiate/provide up to a 2% interest rate decrease to make my monthly mortgage payments more affordable? A 2% rate decrease would cut my mortgage payment by almost $300, which is doable.
I would like to know how long I would get the rate decrease and if there are any penalties/fees that I will have to pay back as a condition of this modification. If anyone has an answer to the above questions, I'd greatly appreciate your input!

When will Wells start honoring the MHA 2nd Mortgage additions announced in April ?

I have on a duplex a conforming 1st of $535k at 5.625% & a 2nd of $215k at 7.375% & the effective rate is 6.14%.

Both loans are with Fannie or Freddie ( can't remember which ).

In April my daughter requested a loan modification from Wells Fargo. Basic facts, her husband was injured in July of 2007 and unable to work since. His disability ran out in July of 2008 and he has not been approved for permanent disability. Her income has dropped significantly because of economic losses in her industry. She was denied a loan modification in July 09, but when she saw the numbers that were used they were different from the actual expenses she reported (her medical alone is very high). Two weeks ago, she again called Wells Fargo and was told she qualified for the Obama plan, she should make her Sept. 1 payment, then no payments for 3 months and her new lower payment would begin on January 1. They told her they would send paperwork. She never received it and called last week to check on it. The new person said she saw in the notes that the paperwork was sent out, but nothing about modified payments. This person said that it was necessary to start the process over (another 3-4 months). She was also told if she was late on any payments the process would start over again. (If she could make the payments, she wouldn’t be asking for a loan mod). She is current right now because my husband and I have been helping, but we have had our own economic problems and income reductions and are now tapped out of our savings and retirement savings. My question is how does one find someone at Wells Fargo who knows about this program. Is it even possible to help her at this point. We are all very frustrated. Any helpful information would be appreciated, but quickly, she is ready to just walk away from her home.

I am having a nightmare experience with Wells Fargo on my loan modification. I've spent over 7 months trying to get a loan modification, speaking to different people every week. Finally was assigned a negotiator and he came back with making three months regular payments to show good faith and then they'll modify the loan (don't know how much though) and roll past due into the end of the loan. I NEED TO SHOW GOOD FAITH!!!! This doesn't make sense, I can't make a normal payment or I would have 7 months ago. I don't think Wells is interested in negotiating loan mods, they just want the house back. Anyone else having these problems with Wells Fargo?

Gosh,

I've been trying to get a mortgage commitment from Wells Fargo for 5 weeks with no luck (with cash and good credit). From reading these posts, maybe I don't really want one...

I found out today that I have a "Bank Owned" mortgage. Wells Fargo is my investor. One would think that it would be easier for WF to approve us for the government plan but after over 5 month of back and forth we are nowhere close to a solution. Turns out that WF will not use Unemployment Benefits as a qualifying source of income even though the guidelines says so. My wife has not depleted her benefits and she will qualify for at least two more extensions. Clearly, she is eligible for benefits for quite some time - assuming she doesn't find a job. We are in the exact situation that the program is suppose to help with - temporary reduced income due to the recession and WF will not help us..

I have been calling both Wachovia and Wells Fargo since December '08 to try to get either a refinance or loan modification. It seems like any way I turn I am told I am either locked out of a program or to call back "next week" or "next month" while they say, "we need to figure out the program and get our employees trained on it". Really? 8 Months later?
I have the adjustable pick-a-payment plan not backed by Freddie or Fannie and I've had my house for seven years. I am self-employed in the housing industry and so is my partner, so we have been hit extra hard with this down market and real estate crash. I have only sold one house this year. Due to health issues in the last 4 years I had to have 3 abdominal/pelvic surgeries. We had to pay cash or put it on credit cards, using up our available credit but I have still paid my mortgage, come hell or high water. Since we're self-employed we were sold on the pick-a-payment by a broker who said it would match our income better. I had stellar credit that I had worked hard to get. We took out a line of credit that now I am 4 months behind on because I am trying to stay current on my first and keep my utilities on. I had to ask for charity to pay my electric bill. I am 50 years old and never had to ask for charity.
Now I wake up with panic attacks that I am behind on my bills, work is slow, I can't get anyone to talk with me about this mortgage and my wonderful credit score is probably going in the toilet. Why wouldn't anyone talk with me when my credit was great? Do I have to go late to get someone to talk with me? Are the banks just twiddling their thumbs until the interest rates go back up and you can make more money off us--those that can't afford it? I have wealthy friends who have had no problems getting morgages and refinances from Wells Fargo, closing in 30 days (last month-July) on their 4th investment property!!! Is there any help out there? Any Plan for the people who really need it? Does Wells Fargo and Wachovia really want one more REO, one more house in their portfolio?
I'd appreciate any help. Thank you.

I am three months behind on my mortgage and am in danger of being foreclosed on. I was just told by someone at Wachovia that I was available for the HAMP program but that the government hasn't made it available yet. Reading this board, it seems it is available. Where can I apply? I am desperate for some kind of relief.

Both mortgages are with WF and I have experienced reduced income. The primary mortgage is a Fannie Mae loan. The representative says I don't qualify for the presidents affordable home program. My taxes are very high, at about $1000/month. I am currently 5 months behind on my payment with a hope to have a modification done. However I did not get a clear answer as to what my options are. I don't want to lose my home.

My wife and I have been trying to get out of the Wachovia Pick-A-Pay Loan since January 2009. We were told we were not behind on mortgage payment so no help available. Both my wife and I lost our jobs and took whatever jobs we could to make the payments. We owe $369K and house is now worth $235K. Two years ago, it appraised it $395K. We are considering suing and asking for class action status. Anyone have any real success get Wachovia/Wells Fargo to helpout with Pick-A-Pay?

My WF loan is serviced by HSBC. We asked for a loan modification and WF approved it after many calls, lots of waiting and gobs of paperwork requested by WF. We got our approval letter and were told to expect the paperwork to come in the mail, to sign it and include a check with our new payment. Our 1st payment was due Aug 1. No paperwork came and by July 15th we were frantic and began calling HSBC again and again. Finally we got through and were told the paperwork got "messed up" and we would now have to wait until October to get the proper paperwork. Aug 5th we got loan papers fed ex'd to us showing the payment due date as Aug 1st and the terms were completely different than the terms on the letter sent to us. 0% interest! So we called HSBC again and they said to disregard that paperwork and that the new paperwork was on the way to us. About a week ago we were served with papers that our house is going to be foreclosed on!! We have made well over 100 calls to HSBC WF, sent faxes, mailed letters and NO response. We are beside ourselves with worry, I am afraid my husband is going to have a heart attack he is so worried. Now we have to get a lawyer we cannot afford to somehow get this stopped based on the letter we have for the loan modification. Any advice from anyone would be greatly appreciated.

Jason, what I don't understand is why was i told that the HAMP was starting eff. 08/15/09, and I call twice a week and they keep on telling me that its been postponed and that it'll start maybe in Sept/Oct. Meanwhile, I am getting more & more behind... I am in preforclosure at this time I spoke to loan counseling and the alternative option that was given to me was to pay on Sept, Oct & Nov 27th a $1230.00 paymnt & on 11/30/09 pay $2,530 pymnt. 3 days later from 11/27/09 this does not sound a good option for me what is the guarantee that HAMP will start by Nov/09 I was told this would freeze the preforclosure. Can you direct my message to someone that can help me, I would like to see if there is other alternatives, I want to keep my home.... Please help!!!

I did notice there are comments like WF rep called u 3 times etc...i did have same comment in my file...
i have called them every week...They did not mention abt calling me...

secondly there were no messages left on my phone...if they called me 4 times...

i think there are some unethical WF rep who does not want to do their job and write such notes on ur apps. This is creating some frustrating to the customers
Any comments or suggestions?

""" Our goal is to send eligible customers a trial modification agreement within 48 hours. """

This is great goal. Is there any plan to achieve this goal?
Has any customer received agreement in 24 hours??
This is Sept...WF seems super far from their goal.

WF needs to complete 480K application in next 2 months. Interesting?? They really need improve their processes and need some sincere reps.
They also need to educate their reps and should give access to Negotiator.

They should also think of following the strategy used by one of the top lenders for HAMP program. It is nothing wrong to learn good stuff from others.

I am happy that they have blog so we can share our experiences and WF leads get more ideas - what is happending with their customers... y they are so furstrated...? where are process is falling apart?

I truly think Wf can do it... if other lenders can achieve the goal... but not sure if there have correct strategy to do it.

Dharini

Why all the double-speak about the HAMP and portfolio loans like the Pick-A-Payment loan??

It's quite simple. Who from the government say that portfolio loans are going to be included? I will be happy to contact the government and bother them until they offer it...but with the way it is being handled, it comes across as a stall tactic to try and appease people while having NO intention of actually doing anything about modifying the loans.

Wells and Wachovia have the ability to clear all this up. Hopefully someone in the media will take the lead in getting to the bottom of this whole thing.

We've been trying to get a loan modification done since October 2008. We've gone through countless services reps and even folks at the executive office - All we keep getting is a NO, your income ratio doesn't work because we're $300 off. We can't seem to get any help. It seems Wells Fargo is making absolutely no effort to help us keep out. The home values in Tampa, mostly our area dropped almost 50%. We're not asking for anything unreasonable to be done for us. I've spent the past year providing paper work and talking to someone new every month and still we're no where to getting any help, except it looks like Wells Fargo is planning to serve us forclosure papers again. Sorry to sound bitter, but good luck selling it because forclosed homes in our community has been sitting here for 2 plus years unsold at prices 1/2 to 1/3 of what we owe on ours. No, we're not asking Wells Fargo to drop our mortage to those levels. We put down $100K when we puchased this property and it would suck for my wife and two young girls to live in the street because fo a $300 income/debt shortage.

Thanks,
G.S.

Has there been any word when there will be some sought of HAMP help for VA loans? I have just been offered a moratorium for three months but that is just going to put me further behind. We need help now. It took three attempts to get our finances correct in the system now we show a small surplus instead of a large deficit.

I am so discouraged. Tried getting info on President Obama's home loan mod program right after it passed. "Since youcalled you will be one of the first we contact. Now many months later I managed to have e-mailed to me the packet. I sent it back to WF 8/8/09 overnight mail. Now 8/28/09 I received a packet in the mail to complete regarding my inquiry. It is exactly the same as I completed and sent in 8/8/09. After talking to many reps over the past 2 days, they say they do not know why it is necessary - just do it! They acknowledge receipt of my package with all proofs requested totaling over 70 pages - but seem to want the 70 pages again. They are very accomodating on the phone and sound "interested" but in reading the comments on the internet here and other places, it appears to me that WF has no intention of actively and timely following the intent of the gov't program. I am again overnighting the package and sending along my prayer for some relief. I nursed my husband thru his 11 year paralysis due to massive stroke...I just hope that if this process brings on a stroke for me, it is terminal immediately! I just am not physically or emotionally able to play these "games"

We were approved for the HAMP trial payments - which we completed 6/1, 7/1, 8/1, and now they told us make a fourth 9/1. We have done everything as requested, nothing has changed for us, we have provided all of the requested documents... and nothing we sit and wait. I don't sleep or eat. Why is this not completed yet? How many more trial payments will they want???? I thought they had to conclude the trial to perm within 30 days of completing the trial payments. I don't understand what the hold up is.

I am in the HAMP program and have completed 4 trial, yes 4 trial payments. I just want to complain about the lack of knowledge from the loss mitigation department. Every time we call them, which is often, we are given different answers. We don't know who to believe. After our second trial payment,one of the reps even told us we were approved for the perm mod and that the following would be our terms:
years int
1-5 2%
6 3%
7 4%
8-40 4.75%

no balloon needed

So we paid the third trial and waited for the package - nothing. I called to see where the docs were - and was asked what docs - I said the perm docs according to what I was told before - the rep said "your not approved yet" - I said what?? - I then repeated what I was told prior - the rep said that was just a proposal to the investors - not the final mod. My heart sank to the floor.

Wells Fargo, please get customer service and loss mitigation on the same page..please I am just so heartbroken right now - in suspense- just waiting, just waitng for a conclusion.

I am having a nightmare of a time trying to get a MHA modification with Wells Fargo. My payment is almost 60% of my gross monthly income as i have a different source of income than when I forst got the mortgage. i have been thrown into short sale, given the run around for months and still have gotten absolutely nowhere....they keep telling me we are workong and we will let you know. once they actually denied me by saying they didnt have all my information which of course they had so i lost a week fighting back and forth....somoene please help.

I have been trying to get my loan modified for almost a year now with Wells Fargo, and have not been able to get very far. I fax info over and over again, the reps say they receive it, then the next rep says they didnt. Anyway, I just got some Trial period docs and it's for a 120 day trial period, not a 90 day. They can't explain why. Also, the docs were printed with an incorrect date, shows the trial period ending in 2013. I called immediately and they still have not sent new docs. I have spoken to 3 people and all they can say is they will send a message to the negotiator to correct the docs. Lastly, the payment is reduced by $200. This is not enough help. I lost my job, and had to take one where I make significantly less. Wells Fargo does not seem to understand this. It's so frustrating. I am trying to stay current, but living on credit cards is putting me deeper in the whole. I have managed to stay current by selling personal items. At this point I have nothing left to sell. One rep stated to me that had I have been delinquent, they would offer me more assistance. How fair is that? I am more likely to make the payments that others who have just given up.

How many months does it take to get a HAMP with WELLS FARGO.. You only help late people, and you know it, I have been trying since 4/2009 and NO answer.. what a joke 48 hours... who are you kidding, Wells Fargo is not helping anyone on HAMP unless you are late

Hi - I'm quite frustrated. Thankfully, WF has approved my HAMP application and our monthly payment has been reduced. The issue I often have is that a WF rep will tell me something over the phone, and then the next time I call WF, there is no record of the conversation anywhere. Supposedly, the contents of each conversation are supposed to be noted on the account so all reps can see the record, however, very often this is not the case. I was promised by two WF reps that a payment that I had made one business day before my HAMP was approved would be applied to the first month of my 3-month trial period, and that the remainder would be partially applied to the next month, however there seems to be no record of that conversation. I would like for WF to honor what has been told to me by two of its reps.

My cases denied twice. It is hard to digest the decisions as mentioned. The reason of denial is documents were not received! Whereas, we have provided two months pay slips, bank statements, 2008 tax return, hardship letters, monthly workout plan. I have not received any single call. We called every week for the last 3 months to ensure that all necessary documents were there. We heard many times that all documents were received. Is there any reviewer to review denial cases and make sure what real reasons are of denial? I think it should be clear and transference. A two way communication can remove lots of questions and make people life easy and tension less.

I was prequalified for the HAMP plan thru Wells Fargo. I always called to follow up on docs that were requestwed and was assured all that was asked for had been received. On my last routine follow up call i was told i was dropped for not submitting docs I was preiously told were received. This is being escaleted and I was told that this was a Wells Fargo mistake. What can I do to move forward?

Wachovia/Wells...You need to come to grips with what you has occurred in So CA with the Pick a Pays.

Stop hiding behind the Feds, and all of the programs that aren't designed for high-priced...high leveraged houses with exotic financing.

Set-up a program that all of the PAP's can transistion over to. If your balance sheet has to take a hit so be it. That is the price you pay for servicing this sludge.

We have taken our hits on an emotional level. You should do it with your balance sheet.

I need to short sale my Mothers house and need to find the correct person to talk to about this. The agent has to have papers stating that it is OK to do the short sale but the short sale department keeps saying we need a buyer contract. I cannot get a buyer contract until have the legal right to advertise as a short sale. Catch 22. Can anyone help as I do not want to do a foreclosure ? The property is not underwater by more then $5000.00.

My mortgage is owned by "Wells Fargo Bank N.A." and serviced by "Wells Fargo Home Mortgage". In 3 years we have not been late on any payment until recently. My income has been cut in half due to the crashing Real Estate market and my husband's position was terminated in November 2008 due to econimic decline and he has not been able to find another position.

Although we purchased the property 3 years ago for $870,000, there is now severe negative equity. Selling or refinancing is not an option; the house is worth approx $450K now but we owe $695K on the first mortgage (WF) and $87K on the second mortgage(Citibank), both of which are original loans taken when we purchased the house. We were able to make timely payments until our savings was depleated in June 2009, after I had already applied online at WF & also by telephone for help under HAMP on May 5, 2009. I was told I would be mailed a packet with instructions to send in financial info, but the package never came. After speaking with several representatives and doing some research on HAMP I took it upon myself on May 22, 2009 to go ahead and fax our tax returns, my husband's employment termination letter, our monthly income & expense statement, a hardship letter, quarterly profit loss statement for my business, and a signed hardship affidavit. I've called every week for 3 months and always told the same thing: my application 'is "in review" for HAMP'.

We are now close to 3 months late, facing foreclosure, and last week a WF Loss-Mitigation Rep told me I was recently denied for HAMP. I have never been notified in writing about the denial or any reason for the denial. We definately meet ALL the requirements under HAMP guidelines, so I don't know how we could possibly be denied. The WF Rep told me the reason for denial noted in my file is "MBS loan". She didn't even know what that meant and despite putting me on hold for a really long time she still couldn't get any answers. She did share with me that my file notes show a "DTI of 56.89%, which is outside the range of 31%-38% and applications are routinely being denied for HAMP if they fall outside of that 31-38% range". This makes no sense to me since anyone with a hardship and a payment exceeding 31% of gross income is supposed to be eligible for consideration for a reduction in their mortgage payment to 31% under HAMP and for subsequent application of the NVP test.

There was no indication from any representative that I've spoken to that the NVP test has ever been applied in my case. I doubt investors holding Wells Fargo MBS (Mortage Backed Securities) will be thrilled to find out that thier interests are being compromised because WF is forcing homeowners with severely upside-down loans into foreclosure.

We are exactly the type of people President Obama's program (HAMP) was designed to help, and I demand to know why we are being refused.

Any info would be most appreciated....

Hello...

The agent has to have papers stating that it is OK to do the short sale but the short sale department keeps saying we need a buyer contract. I cannot get a buyer contract until have the legal right to advertise as a short sale. Catch 22. Can anyone help as I do not want to do a foreclosure. Thankfully, WF has approved my HAMP application and our monthly payment has been reduced.

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Already out of chapter 7. Trying to get the HAMP plan. It's in review at this time. Reading all these horror stories makes me wonder if I should just walk away......

We have a second through Wells Fargo and have been trying to work out a deal prior to charge off. There seems to be little if anything offered, even though there is a second HAMP program in place.

Currently we are running out of time to salvage this account and the home.

It is not just the first mortgages that need help. We are attempting to work with you; however, I never get anyone on the phone that can discuss any valid options except 'by the book' rules and numbers.

Hey stop calling Wachovia about their HAMP loans, call the The Office of the controller of currency OCC, heres the # 1800-613-6743 to call for complaints, heres the web site www.helpwithmybank.gov. to file a complaint, Wachovia is not helping home owners like the Obama plan intended, Wachovia got help from the goverment we havent.

It looks like FREDDIe MAc, Fannie Mae and a small amount of other inverstors will be recieving something in the mail regarding qualifying for a "HAMP" mod.

re: The Making Home Affordable Program - I have submitted all the required paperwork & have talked to Customer Service Reps during the process. In these contacts, I have received varying information almost each time I have talked to one of these reps, giving me some queeziness with the process (i.e., one rep says I can make the payments at a branch if it is close by - I talked to him on two ocasions. Another rep strongly advised me against paying at a bank branch). He also stated that, as long as I make the 3 successive payments on time, for all intents and purposes, I have been accepted in the program. I have gotten differing information regarding this as well. I am not confident with the information that I am getting when I talk to these customer service reps.

After reading many of the posts, I began to realize that Wells Fargo has no interest in helping out homeowners. They do not offer the Obama Plan, but instead claim to have a "mirrored" plan available. We've been trying to negotiate a loan modification since December '08. I lost my job and our income has severely decreased. We kept making our mortgage payments using up all of our savings until that went dry. Both my wife's credit score and mine were well over 800 before my layoff and we never missed a payment on any of our accounts. When asked to, we submitted all of the requested paperwork and followed up by calling Wells Fargo every week. After about 2 weeks, we come to find out that our paperwork was not in their system; basically it was lost. We re-submitted it again. went through the weekly follow up calls and was told it would take 30-45 days to be reviewed. On the 35th day, we called to follow up and found out that the updated paperwork was nowhere to be found. This is when I realized that the people I was dealing with, really didn't have any concern for the customer. We finally decided to consult with an attorney. After doing so, we come to find out that Wells Fargo neglected to collect from us, several forms which the Obama Plan required. After submitting this, we went through the 30-45 waiting period again and then we were told we did not qualify. Apparently, someone came up with an outrageous number (which was our monthly expenses) that put us in the red. This number was almost twice the amount that we bring in each month. This automatically disqualified us. After several phone calls, we finally got in touch with a manager, whom reviewed our situation. He/she determined that there was a mistake on their part and immediately per-qualified us for a 3-month trial program. We again submitted our updated financial information (which hasn't changed) to Wells Fargo and were told that it should take 5-7 business days to get an answer. That was 2 weeks ago. What should I do now? How will I know if our modification will be accepted. Do I need to hire another attorney?

Hello Supervisors of Loss Mitigation dept,

If you notice what most of the people are saying on the blog - The reps are not doing their job properly.

I did realise that they say they will do things like: send message to Negotiator, accelerate the file, add some notes to the file, etc...
Nothing is done when u call back.

Please let us know how WF supervisors trying to deal with these Reps. Unfortunately, 90% of rep fall in this bucket.

I have always call back to confirm if prev rep did things which he mentioned on phone....it is not done...

even there are some supervisor who do not want to work or help.

Executives need to listen to the recorded phone conversations to find whom to fire. there are so many efficient and hard working ppl in market which can be hired in place of these reps.

Thanks
Dharini

My story is really no different than the others. I've tried and tried. I actually had to get a prescription for xanax because of the emotional toll that Wells Fargo has put me through. I now very much regret paying $700 a month extra in the past. Now I can't get a break. I have now turned everything over to an attorney whom is frustrated as well. He is being very persistent. Trust me when I say that there will be a class action lawsuit against Wells Fargo. I wouldn't be surprised if we find out in a couple years that there was embezzling taking place. At any rate all we can do is keep on trying and get the media involved as much as we can. Unless Obama requires banks to cooperate I don't think these programs will be a success. My loan is Freddie Mac owned and so it's government owned..funny thing is Wells Fargo said they had to convince the investor...HAHA..give me a break Wells Fargo.

"Waiting for an answer" seems like a common theme. I am waiting for new constuction and the builder cannot move forward since they are waiting on funding from Wachovia/Wells Fargo. The builder has been in business for 30 years and and has an excellent reputation in the community. They have shared with me that Wachovia can not or will not give them a date of resolution to their lending renewal. It has already been 45 days with not end in site!

I have been trying now, this month to be exact one year to get a modification from Wells Fargo. I have sent in so many paperwork to them that they have requested over and over again, call every week but I'm still hearing the same thing, a negotiator is looking at it. Last month someone from WF call to let me know that they were sending me out some documents, but I have not received anything. This week I had a foreclosure date, but they suspended it last Friday. I still do not know where I stand with WF. I was told before by them that I was on the HAMP program. I am now surprised to learn that they do not consider unemployment benefits because I too got laid off from my job. I am not trying to walk away from my home, all I am asking is for them to help me by cutting my mortgage down to something more affordable. Someone please help, me because I am so frustrated, stressed and about to lose my mind. I'm starting to have sleepless nights.

I have been trying since HAMP was announced (March 2009) to apply and get it approved. Wells Fargo started the approval process only in May. I have made 100's of calls but still no definitive answer. Wells Fargo pulled 3 credit reports on me (my credit score is stellar). Some reps tell me that if you are not late on your payments, you do not qualify.
Other reps refer you to refinance who want to charge me 1000's of dollars to refinance and try a hard sell for me to refinance. Wells Fargo is a truly disjointed organization!

Can someone help me get a straight yes or no answer?

My hope is in my current negotiator who seems responsive but given my past negative experiences with others, I am not holding my breath!

I have a similar situations from the people who posted to blog. My frustration is the fact that Wells Fargo rep, although they try to assist are sometimes misguiding me. I have sent paperwork for a loan modification 5x, since early May 2009, then finally Wells Fargo filed for foreclosure. We received a letter that denied the loan mod based on our income & expenses, however Wells Fargo made a huge error by understating our income & overstating our expenses. We have Consumer Credit Counseling working on this too & the counselor has verified our income to be exactly what we had provided to Wells Fargo. The Conselor tells me that because of our income the Loan Modification should be approved. Wells Fargo's response? Apply again for the Loan Modification. Every time I or my husband calls we are told that we are either in review or they have not received our documents. We fell behind due to medical & job reasons. Our income dropped more than $1600 per month & it is creating a lot of hardships. This is the reason we are requesting a loan modification, to bring the payment down & make it affordable so we don't fall behind ever again. We have asked the reps if we can start sending a payment, the reps states that no payment is required during the loan modification period, then why was the foreclosure filed? This creates more stress to the customers, overwhelming our court system. The only ones benefiting from this are the attorneys. To add insult to injury, the attorneys are sending a Loan Mod package & are requesting we sent in information about our income & expenses; information we have already provided Wells Fargo many many times. Also the loan modifications are taking a long time. At first, we submitted the documents on May 21, 2009, we received the first letter on July 13, 2009. Wells Fargo says they added 4,000 more employees to deal with this situation. I'll be that Dick Kovacevich is not aware of all these problems or if he is, why isn't he acting on these problems? This inability to handle the Loan Modifications should be a huge factor to lower consumer expectations & Wells Fargo stock. In one blog it states that Wells Fargo was forced to accept the stimulus money, but the hard fact is they got it & is tax payers money and they are using it, unlike Ford Motor Company who is not getting a penny from the government of from tax payers, they are the true self reliant American Company.

Day1.......
I called into WF today and after getting bounced around a couple of times within their phone system and associates, I did make my way to Collections (aka Loan Modification Department) I was greeted by an associated that was very helpful and explained the HAMP program to me and after going through my financial information, I was enrolled into the 90 day Trial. I to am concerned that since my loan is due without penalty on the 16th, but I was told to start paying the modification trial rate on Oct 1st. I am going to take a leap of faith here, pardon the pun, and just pay the trial starting on the 1st. I was also told that I will receive paper work next week that I need to get back to them as soon as possible. The associate was even nice enough to tell me everything that I will need to submit in advance. One question for those of you that have already submitted your paper work and from what I am reading, multiple times....

When they ask for us to send our 2008 Tax returns, I actually had my done this past year by H&R Block. Do I basically just send them everything that is in my Tax envelope or are they looking for certain parts of the return? The associate also mentioned about submitting "all schedules" with the tax return, but was unsure of what that meant..... Anyone have any idea what that means?

Since I am a newbie to this process, I will try to post as much as I can along the way with my progress and anything that can be helpful to the new people like me trying to go through this and I am hoping words of encouragement for those of you that are not so sure anymore.

Ohh they also mentioned that we can call for credit counseling through HUD. Has anyone done so and has it been helpful in any way with this process?

Anyway wish me luck and I wish all of you that posted above the best of luck in these hard times...

Like many of you out there I am also not sleeping well and hope that HAMP is the light at the end of the tunnel!!!

More to come...

-Heath

Would you happen to know why my information and questions have not been POSTED. It has been over 12 hours.....

TY!

-Heath

i have tied to get a modification for seven months now from wells fargo
am getting same run around
as every one else im tired
wells fargo changed
my monthly payment dou date from the 15 to the 1st
so my last payment was the 15 now i have to make a payment on the first of course i cant do that
i am afraid im going to have to file a complaint with the comptroller of the currency it is a sad
day .

I am a Wells Fargo customer. I applied for modification under the Making Home Affordable Program using a HUD approved housing counselor. I have NEVER been late for a payment, I have a son who was diagnosed last year w/ autism, and my husband and I, who work on commission in a Las Vegas hotel, have seen a 50% drop in income in 2009. We DO NOT have credit card debt, car loans, or a second mortgage. We even have a bit of equity in our house. Moreover, I can't forget to mention that we are unquestionably victims of bait and switch predatory lending. Naively, I thought that we would be the perfect candidates for modification, but I feel that we are being pigeonholed BECAUSE we are current and still have equity. Maybe Wells Fargo is hoping that we will walk away from the home that we worked so hard for because they would actually make money if we did. The modification was submitted at the beginning of July, and I still haven't heard anything. I called Wells Fargo a couple of weeks ago to follow up, and they said that they have no record of our submission. It is sooooooo unbelieveable that people just don't matter anymore.

Hi everyone,

The run around, it has been 8 months already, keep getting the same answers. I am either short on my financials or I have a surplus on what I send in. It is not even true, WF is always adding wrong. Why? We have send so many papers that I have lost count and they have NEVER been the same from what I send.

I have two questions.

1. Why is it that when I call the executives they say that they will answer the call within 48 hours of the call receipt? They NEVER call back.

2. How accurate is www.wellsfargo.com/assist?

I have been in contact with HUD counselors and they tell me that I do qualify for the HAMP program and Wells Fargo says that I don't. I am ready to walk away....

I have been working with Wells for a loan modification for over 7 months. They finally came back to me with a temporary forebearance agreement that says I should make 3 months normal mortgage payments while they consider how to modify my loan. I cannot make 3 normal mortgage payments or I would have been making them. I need about 50% reduction in my payments to keep up and there is no guarantee they will do that. I am not eligible for the HAMP program because I have an interest only loan now, even though I am willing to go to amortized 30-40 year loan at 2%. I had never heard of not being eligible for HAMP because of IO loan. Anyone else have that problem and any suggestions.

I, along with many others it appears, am extremely frustrated by the unending run-around I seem to be getting from Wachovia. My husband and I are in the same predictament as others; our income has dropped severely. While we are hanging on by a thread, I've been trying to work with Wachovia BEFORE we fall behind and end up in foreclosure. We have a pick-a-pay proprietary loan. I was advised last year to send in a hardship letter to get the ball rolling for a modification. Well, when I called to follow up, I was told my information has forwarded to the refinance dept for refinance consideration. Well, they promptly denied me and sent me to another dept where I was told to send another hardship letter to start the process again. I gave up and continued struggling w/payments. I called back in early August and was told that Wachovia hasn't been doing any modifications for customers with proprietary loans. But that they were putting a program in place that would be available after August 31st. I wonder why I wasn't told that Wachovia was doing loan mods for my type of loan last year. Anyway, I called back last week and was told that the HAMP loan modifications for my type of loans was put on the back burner indefinetely while they worked out the kinks in the technology. I'm extremely frustrated. My husband is self-employed and his income has dropped drastically within the last two years and continues to free-fall.

Any information about when mods for my type of loan will be available?

I'm in the same boat, I was told I would be helped and also no foreclosure would be processed while modification was in the pipeline now for over 5 months, guess what? Last week Wells fargo/ASC started foreclosure, I called the number listed and stated what I had been told and the Specially trained team to help people in our situation stated" Well its because your 90 days late on your mortgage" I then stated well "YOU" told me if I paid my loan I would never get modified. What is the story? I can never seem to get anybody on the phone who will help only people stating what I already know but are not able to do anything. Why would I be told several times about what I had to do exactly , including stop paying my mortgage, but then something like a certified foreclosure notice arrives withing 3 days of being told I was all set? Maybe its time to write to the presidents offices of wells fargo, the BBB, FTC and attorney genrals office. Im tired of feeling like I am getting ZERO answers to the questions that mean the most to me. Oh yeh did I mention my house is way underwater and I guess Wells fargo is more interested in losing $100,000 + if they actually foreclose on us.

When is Wachovia going to offer the HAMP program??? Why those it take so long to modify? Who is in charge, Wachovia,Wellfargo one team twice is strong come on let get serious, Thats why banks failed hard earned Americans, History repeats it self, Yes the Fed Goverment bails them out ,and we the tax payer get stuck with the shortend of the stick, I wish there was somebody in Wachovia or Wellsfargo who knew what there doing to home owners like us that lost income and that there on danger of default, Somebody Help , bank got help!

I would have to say after reading all the post that I am shocked.. My experience with Wachovia was great. We received a letter from Wachovia stating that we qualified for a loan modification and only need to send in our pay stubs. After calling every number at Wachovia to make sure this was legit..we sent in out pay stubs..eight days later we were approved. We received a reduction in our principal balance and a 40 year term, with 5 years interest only..starting at 3.5%. We were definitely shocked that the process was so easy, but we are very happy with the results..I have nothing but good things to say...

Day7.......9/9/2009

Well the doorbell rang and UPS dropped off the packet with all the HAMP paperwork in it. I have read through the packet at least twice just to digest all that we need to collect and now my wife and I are going to sit down to start the paperwork filling out and collecting process. Like I have read previously the paperwork seems straight forward and make it seem like we are more than qualified. I guess only time will tell as we go through the process. Ohh one thing I was not aware of. I was told by the associate last Thursday that we SHOULD check out HUD counseling especially since it is free. Now the first part of our packet says that it is required that we contact HUD for counseling on our financial situation. Still not sure if we have to send all the paperwork we have from getting out taxes done. I will call in about that before we finish the paperwork. Anyone else who has gone though this, what all did you send in for your tax returns?

More to come....

-Heath

Same story with me....made 3 trial period payments. They never got back to me so I called and they told me to make the 4th trial period payment 9/1 which I did. Now they are asking for updated paystubs which I have yet to confirm they received. I've been going through this since January 2009. I know they are overwhelmed but... The reps tell me the same thing everytime I call. "That they are working on it". The agreement that I signed said that I would need to make the three trial period payments and then a modification would be done but it's been over three months with the payments being made and nothing. It is very disconcerting that almost every comment on this blog says nobody is getting modifications. I only read one that was successful. I'm so scared of losing my home!

Been trying to get a modification on my Wachovia loan, which is 60% of my income now (loan is $3100 a month and I can only afford about 2k a month)--since March. I have fallen behind in two payments (now caught up to one payment behind)--but still got a letter of intent to foreclose! They never told me this on the phone, so seems very sneaky.

Everytime I call I get a different story, about how I have to wait, and as of today there is still NO program with with HAMP with Wachovia, yet--that I still have to wait for that-- and that Wachovia is not yet fully purchased by Well Fargo, even.

I'm wondering is this even true? It seems to contradict this blog posting's stated fact that"

"About 20,000 of these modifications are part of the government's Home Affordable Modification Program Click here to learn about third-party website links (HAMP), which the Treasury Department released data on Click here to learn about third-party website links last week. The rest are proprietary modifications — like those we are doing for Wachovia Pick-a-Payment customers and others — who either don't qualify for HAMP or who may get greater benefit from a different solution."

So, I'm wondering is the Rep giving me false info, or am I misreading something here?

Thanks,
Gio

I have been trying to work with Wachovia since June when I first called them (due to illness) to discuss not making my May and June payments. I then had someone tell me they could work with me and I faxed them the hardship letter, my hospital bills, and how I will do better letters, A week later I called and was told "Wow, looks great! but call back in a week just to make sure you're approved." I called back and was immediately told "Can't approve you, you have a Texas Equty Loan, not a HUD Loan." Don't they have record of what type of loan I have when they pull up my info. on their computers? Long story short, hit 3 months + 1 day and they then wouldn't let me pay ONE or even two payments cause past 90 days now. NOW I have gone through Springboard and they have given me a Client ID and said I am approved for the HAMP program. However; when I contact the Lost Mitigation Dept. they tell me they don't have the HAMP program yet. However; ALL of the news says Wachovia has HAMP program. All Wachovia does is ask me to resend the Hardship letterl over and over! Why do they even have computers? I need help, any suggestions???? I do NOT want to be foreclosed on and I do NOT want your Pick A Pament "plan."

I applied for mortgage assistance directly through Wells Fargo and was denied the first time, but accepted the 2nd time - i'm guessing after FHA loans were allowed into the federal program. Wells Fargo sent me a Special Forbearance notice that reduced my montly payments to $1,000 for3 months. then at the end of 3 months I had a balloon payment that pretty much equaled everthing they'd reduced for those 3 months. I called and asked them about this and their loss mitigation reps said that as long as i called after my 3rd payment and told them i wouldn't be able to make that balloon payment, they'd start looking into modification arrangements. Does this sound legitimate? Also, do i need to call Wells Fargo and specifically request that I be considered for the HAMP program? I've asked their representatives and they tell me that the special forbearance is a prequisite to the loan modification. That everyone has to prove (during this forbearance) that they can make the modified payments - so after these 3 payments on the special forebearance..they can move forward with the loan modification. I feel "iffy" about the situation after reading a lot of posts. Help?

Responding to the post above, i agree with you that does not sound right at all: the three months period is supposed to be the time it takes them to approve the modification and make it permanent, etc---NOT the time that you then just START to apply for it. You already know that you can't make the balloon payment so they should be working with you to find a long term solution that does work during those three months.

I have been working with Wells Fargo for better than 6 months now in a forbearance program. Every month I submit a payment I inquire as to my status of restructuring and get the various response as stated above. Just last week I was contacted by a third party that said Wells Fargo had contracted them to help implement a HAMP program regarding my workout solution. Today, the rep called me & said that Wells Fargo had pulled every candidate without giving any reason or explanation. Why can I not get a permanent work out solution from Wells Fargo??

I want to THANK the executive team in the presidents office for the SWIFT response regarding our concerns that we are having with the HAMP modification. They have responded, in writing, ALL the answers that we were unable to get from the loss mitigation department. At least, for now, I can sleep at night. I am still praying for our final mod documentation.

We applied fo loan modification im March 09. Faxed all the documents. My husband lost the job and my income took a plunge. Never heard anything form them initial couple of months and when called them answer given by WF was we are suppose to check with them. Since that time have called evey 10 days or so and have faxed them same documents two more times. The answer is always same They are reviewing your account. We have been somehow struggling to make our payments till now by cutting every possible expense to minimum. Even went to the lenght of emailing to White House but no answer from them either. After reading all the posts it seems that we are going to have more sleepless nights.We have never been offered any kind of modification terms even though our loan is backed by Freddie Mac. I hope that WF modify the loan soon or not only we loose our home they will also loose lots of money.

It is pretty clear that WFB/Wachovia are lying to people. I, too, have a pick/pay loan and have been trying to modify my loan. I get the same answer every time I call--we don't have the program up and running yet--we will contact you. I started calling last May. There was a time when banks could be trusted but not anymore. I believe the one or two positive comments are fake. And why is it that WFB/Wachovia is not responding to every comment??? I just recently discovered that some of my loan documents are questionable, but I can't afford an attorney. These banks need to be held accountable, but good luck with that.

I have been working with WF since 4/2009, at that time I had received my 2nd pay cut totaling $15000 annually. My husband has lost 50% of his pay. We have remained current but have to go without food at times in order ot pay our house payment. I have been approved 2 times for the HAMP and after 45 days they will drop me saying that I do not meet investor guidelines. I have qualified with HUD but this last time with WF they errored and applied numbers for my debt that werent even correct. I beleive they confused my income with another borrowers debt..... After this gross negligence they qualified me via the phone for the HAMP program and I am now currently in my trial period. However, after reading the blogs on this site I am concerned that there is any light at the end of the tunnel. Can somebody tell me how we contact Congress and the President? As I believe my next step will be to bring this to the Presidents attention and to the media....If WF wants to forget about those who of us who made them millions of dollars purhaps they should be banned from any further tax cuts or bailout money...We should all stand together on this as it is time to make a stand and fight for the things that we have worked so hard for....

I am a participant through Wells Fargo in the HAMP program. Although I was accepted into the program, have never missed a payment, and have been approved for a permanent modification, I have been reported as delinquent by Wells for 4 months. Last week, I received a call from Wachovia, where I have had a personal DDA since 1986 (when it was still First Atlanta) and currently have a Small Business DDA, to inform me that all of my credit lines have been cancelled because my credit score plunged 100 points in the last 30 day. With the loss of a $12K line of credit, my credit ratios have been turned on their head and I expect to be cancelled by other credit providers in short order. I have no other credit blemishes than to have behaved responsibly with my mortgage. BTW, My mortgage payment went from $1641 in February 2008 (30 year fixed at 5.5%) to $2111 in September 2008 due to an escrow collection error MADE BY WELLS FARGO. I approached Wells in March, 2009 about the difficulties in managing a 30% mortgage increase and they suggested a Loan Mod program. Now, I do not have the business credit required to operate my PR consultancy.

Wells Fargo loss mitigation representatives told me that the delinquency reporting was built into HAMP from Day 1; however, none of the HAMP guidelines I received explained that.
This just stinks. I hope this message/information can help prepare other individuals for this shock.

When is Wells Fargo going to do away with the Wachovia COSI and substitute a true market index?

That would provide TREMENDOUS RELIEF IMMEDIATELY to ALL BORROWERS that have COSI-based loans who are paying very high interest rates.

With COSI stuck firmly in the 3 %'s (and these borrowers paying a much higher rate due to the loan margin), all of these borrowers are paying interest way above market, and this is a problem for all of us.

If Wells Fargo would put a market-based index in place of COSI (like COFI), many of these borrowers would experience IMMEDIATE RELIEF, and it would not even require a formal modification (which could still come later).

What is taking so long?

our loan modification finally closed after several months after using a third party to help with our mod. nothing changed, all it did per a wf representative was "wipe our slate clean". we wanted actual help in lowering our monthly mortgage.I resent new paperwork showing our hardship, keep calling and all they tell me is that you can only do 1 loan mod a year. Why does it seem like other banks our helping people out except wf? what am i suppose to do now???????

Attention Loss mitigation supervisors.

Why can I not get any assistance with a modification? I started calling October 2008. I get told the same story every time, keep calling every week and give us 30-90 days to review all the information. Nothing! I now am in my first month of no payment. I am a 63 year old, recently widowed women who has exhausted all of her savings and retirement waiting for this 30-90 day period for 11 months. My house is worth less then 1/2 of what I owe. I am told a different story every week. I was told since I have a conventional mortgage there is nothing that applies to me. But from what I read from Wells Fargo statements they are trying to help everyone!! I spent the last money I had on a lawyer as my last hope. Thought maybe he could get an answer. How can I get reviewed for the HAMP program? They can keep my equity, I just don't want to be homeless at my age. I have income just not what I use to. If they would lower my principal to what my home is currently worth then I could make my payments. PLEASE can someone help me !!!!!

After several months of going back and forth with my loan modification , I just was informed that I didn't qualify because of my debt. Instead, I was offered a reduction of $110.40 for three months. Isn't a loan modification designed to help homeowners keep their homes during difficult financial times? Has anyone received an actual modification that can help them? What is the average amount for modifications Wells Fargo has provided thus far? I don't understand how $330 over three months is going to help me get back on track. The representative who informed me of the reduced payments acted like I should grovel at her feet for this news. Where is the tax payer money going?

I am about to give up. I don't know what to do... I started this process almost a year ago. I call all the time (every two days) and I have faxed in items over and over again. Last month was the most stressful time of my life. I was in "review" and told "it is a no-brainer" (I have every single rep that I have spoken with along with their operator numbers) to get my loan modified (quote 08/26/09). The rep (Dave) told me he will call me by the end of the day. I did not hear from Dave, so I called the next morning and gave his name and operator number to speak to him ("I don't know who that is," I was told... really - even with an operator number??). Anyhow, I was then told that it appears I was no longer in review - and my file was now inactive. I was told (again I will quote it), "I don't know what happened. It looks like someone made a mistake. It looks like your home was foreclosed on back in May, and that the house is vacant. Let me see what I can find out since we can see you call all the time and you have been sending all of your items in... I don't know why someone hit the inactive key. It is clearly a mistake." (This was what the WF gal told me! Guess what?I was told this and the sell date of my house was now 4 days away! She too told me she would call me back and never did. Needless to say, I called frantically again and again - knowing my house was days from the auction block... I was told by four WF reps that "there is nothing we can do, we can try to email to stop the sale, but it looks like it is too late..." That Monday morning (after a HELL weekend of worrry) I called and called trying to get help. I was told it was too late. Finally, I called Freddie Mac and BEGGED them to help me save my house - as I have done everything WF tells me to do. I am not sure if it was Freddie Mac or Wells, but thankfully, the sale was postponed (oh by the way, by ONE DAY), luckily, I realized that and called agin frantically over and over again... WF luckily called and had a 30 day extension... Here I am now - still trying DESPERATELY to keep my house. I am a single mom - I have to have somewhere to live... and I am still being told the file is in review and to have patience. I am also told the sale date is 10/1... today is 9/16. I am desperate and don't know what to do. After all of this it looks like they just want the house... They are hanging this foreclosure sale over my head like a heavy weight ready to squish me. I have no fight left... I want to save my house, but it looks like they never intended to help me. I am ready to call the news, the papers and shout this from the top of my lungs to all who will listen. What I wrote is only a SMALL portion of what I have done to try to save this house... honestly, I don't know how they can put us through this. I have been to ER and have major panic attacks now, I can't sleep or focus. Not only am I seemingly about to lose my home, but it appears I feel like I am completely losing my sense of self. I honestly have made at least 1000 calls... has anyone had any light at the end of the tunnel? What more can I do? I am desperate.

Hello All,

I find myself becoming extremely uneasy that Wells Fargo is denying almost all modifications for their borrowers that have completed the trial payments and are then denied for the modification. Why is this happening and how can we make sure that you are being fair and knowledgeable with HAMP program?

My question is simple...when will we start hearing some positive news from this bank?! When will permanent modifications start occurring???...I think the bank just wants to take people for what they can-I understand banks are in the business of making money-however, we are in a recession people are suffering, people are losing their homes....Please do the right thing Wells Fargo...I understand you can't help everyone, but you can help the loans that pass "the test"...help us please...

My name is Antonia Aquinoa nd I have an FHA insured mortgage with Wells fargo. I have been trying for over a year to get a loan modification and always get denied. First they denied it saying that the house was not owner occupied because they saw that I had rental income. I had to resubmit everything to the Loss Mitigation department explaining and reminding them that it is a 2 FAMILY HOUSE. Then they denied it stating that it did not meet the Investor guidelines but noone could explain what those were. Then they told me to resubmit everything for the Making Home Affordable program and closed the file because they could not reach me. I am so tired of the run around and I have an auction on September 24. I am sending in a new package for the HAMP program since the representative told me yesterday at Wells fargo to try that and see if it works.

This is ridiculous. Someone please give me some advice. I work full time, have a tenant, have owned my home for years. Was never late til my divorce last year and they refuse to help me.

Thank you.

Hello, I just submitted my HAMP application to WF and am under the 4 month trial period. I pray every day that everything will go smooth. Unfortunately, my reading and my personal experience so far has me concerned.

When I first called for the HAMP program I was told to fax my income/expense worksheet and two paystubs with a hardship letter. I did this and two days later I called back and was told I shouldn't have done that and I should have done a phone interview. I was told the 1st WF rep informed me wrong on the process. I said this greatly concerned me but I was willing to do the phone interview.

When I was performing the HAMP phone interview with the WF phone representative I gave her all my expenses. When I was done she said your expenses 4,500, number used as example. I said no all the numbers I gave you for expenses add up to 5,000. She said no they equal 4.5K. I challenged her and she put me on hold and then came back and said oh we forgot to add your Car loan and now you have 6,000 in expenses. I said how do we go from 4.5K to 6K in expenses when adding a $269 car loan. She couldn't answer and wouldn't answer me back.

Since then I do have say all my calls into WF have been answered without a WF rep telling me what was told to me previously was incorrect.

I have read multiple posts on the web where other WF customers experienced this and some were denied HAMP at the end-of-their 3 month trial because 1+1 didn't equal 2 for WF but equaled 3.

I just pray that WF computers can add properly for my HAMP application and my process goes smoothly.

Thank you

Posted on sept 14th on this Blog. Here is the update what has happened since then. Received automated calls on my phone stating all the required paper work is received and modification program will be given to us in 5 business days this was on 14 sept night. Same call came on 15th and 16th stating the same within 5 business days we will have the Modification process completed. Yesterday get a call from WF and they tell me that Modification has been denied after 6 1/2 months of paperwork. Reason they gave was that I am unemployed and we have not yet missed a Mortgage payment. The problem here is WF screwed up as I am not unemployed never was it is my husband who lost his job and we have sent paperwork to WF regarding this along with contribution letter from his side regarding his unemployment benefits are going towards the house payments also with all bank deposit summary.
I can't understand who is doing this work that you can mess up in checking who is working and who is not when you have received multiple times all the documents from us.( Different SS# and Names on the Documents )
I hope somebody from WF is reading this and can let me know due to the negligence from WF employee why should we be penalised.
After talking to the REP from WF for almost an hour he assured me that he is going to send an email to Loss Mitigation Department to correct the problem so we can go through with the Modification.
Just Time buying tactics from WF.
I sincerely hope that The REP was telling the truth and somebody From WF can let us know what to do.
Trust WF or GO Delinquent and loose our home?
Realise your mistake and fix it and tell us what to do.

I have been laid off since October 2008 and tried several contact to ASC for a posible Loan Modification and was told that they don't have the authority to do that. Finally in April 2009 they sent me an application and I filled it out and sent back to them. In May 09 I have also sent an update of our (Me & my wife)income. I have heard anything ever since then tried to call back in July and was told that I need to do the whole new application again. I did so and sent it out on August 10 ,09. Now it passed 30 days reviewing period, I called back today and check for the status and was told again to redo the whole thing due to income infomation was outdated. I do know how many more times I have to redo my application in order to get the review. Since october 08, I have been trying to keep up with my mortgage payment by tapping out of my saving now the saving is almost ran out. The mortgage payment is almost 70% of our gross income. We tried to cut down every necessary expenses to a lowest amount possible in order to survive and be able to keep the house. We have been two months behind and don't know whether we should redo the application which will be almost the same as the previous one. Please anybody could help us, we are really appreciated.
Thanks.

My HAMP loan has been pending since May 27th. The last I heard on 8-31-09, my agreement had been processed and was being mailed to me. I have not received it and cannot get through to anyone to find out what to do now. Any help would be appreciated.

I have been in "review" for a HAMP modification for almost 3 months now. I have been "denied" based on my income not being enough--come to find out, the income they used in their calculation was about $3000 short per month (big difference). One I got them straight on that, they denied me because I am in Chapter 13. That fact alone is not supposed to exclude us from HAMP. (according to Freddie Mac). If that was the case, why didn't Wells Fargo disqualify us 3 months ago? I am going to hire a local attorney if something isn't resolved by September 29 (90 days). Wells Fargo has repeatedly ignored Freddie Mac guidelines with my file alone. We have the means to pay the modified payment. Why would Wells Fargo want to end up with a home that's not worth what's owed when we have the income? Doesn't make sense to me.

We have been trying to get a modication of our loan since April of this year, every time that you call Wellsfargo to get un update , they give you different answers, you can call 3 times in a day and all of them don't know what they are doing.
In August we were rejected because the person from wells fargo told us to give only my income and not the one from my partner. After they denied they put us on short sale withoug telling us anything. We call with the new information including my partners income and it has been 4 weeks, we have been called almost every day , and like I said before every person who answers the phone give us differente answers, you don't qualify, you have to fax over information, we need to update your information and by the way some of the customer services are so RUDE, I guess they get frustrated because they don't even understand the program. My question where should we send the information or we should contact at Wellsfargo for our loan modification?

Wells Fargo are you seeing a pattern here? or is your head in the sand on this enormous problem you have? Every single story is the exact same thing over and over and over..

I was pre-qualified in March/April to enter the trial period and subsequently made all 3 payments. My last payment was made in June and I sent in updated financial information as requested. Now, three months later I still am "under final review" with no other information. I haven't seen any numbers as to customers actually given the long-term modification - only the numbers for entering the trial period. It seems like they would want to get mine off their desk so that they can deal with all the people that have come after me....

I also got a call from the PMI for wells fargo. WF is apparently filing a claim for one of my missed payments even though I'm in discussions for the workout. Any idea what this means?

I don't know what else I'm supposed to do.

I have been trying to get a loan modification/foreclosure since February 2009 due to financial hardship. I was given the run around for months--each representative told me something different, and I was told to not send in payment until a decision was made. Then in June, I was sent an acceleration letter. When I called WF, only then was I set up on a forebearance plan, and I was told to only send payment via mail--my due date was even set up so that it would be received by Wells Fargo a few days after I'm paid.

Anyway, I sent in payment for September. Last week, I received a phone call that I didn't send the payment (even though my bank showed the check as pending the week I sent it in).

Long story short, I was told my payment plan would be cancelled. After a few phone calls, I find out that the payment plan was reinstated.

What I don't understand is why I had a small slit of paper on my doorstep today to contact Loan Administration. Am I about to be put into foreclosure?? I really feel like I'm being forced into foreclosure when I'm trying to actually get current with my payments.

My husband and I have a pick a payment loan and we are currently 7 months behind. We could not afford the refi that was offered as it was only a $250 reduction and were told to continue to check into the HAMP. Everytime my husband calls, it isn't available yet and it has been pushed back to another date. Now we are told to check back on October 5 or the 15th. Meanwhile, another Wachovia rep has called (same day my husband had called for help) and told us that HAMP was really hard to qualify for and that our options were foreclosure, short sale, etc. He informed us that a foreclosure letter was imminent and that we would have only 15 days to come up with the balance or proceedings begin. How does he know that I probably won't qualify for HAMP and why can't I get any questions answered about it? We could afford this house when we bought it, but a job loss, reduced pay, and a tough economy (my husband is in sales) have made affording it impossible. I thought that is what the HAMP was for--to help homeowners affected by the economy. There are currently two foreclosures in my small neighborhood already so who would buy my home? I need someone who can really help me. No one at Wachovia ever tells my husband the same thing or provides any type of help for us.

Just got word that we are approved for HAMP and will be starting a 90-day trial Nov. 1. It took 6 months (from start to finish), and it definitely was NOT easy, but it finally happened. I had to go through the executive team to get it done, because loss mitigation wasn't responding. I also got denied 3 times for HAMP. So, for you bloggers----DON'T GIVE UP!! Persistence is the key. And you need to know the HAMP guidelines on your own. Don't rely on the bank to know them. Good luck! And thanks to Wells Fargo. You have allowed us to keep our home.

How close are you to helping people in NJ with the HAMP?

I just called Wachovia to get the HAMP info, but it's not offered now. They said it will be another 30 to 45 says and it will offered in my mortgage statement. That's strange.. the above blog said about 20,000 apps were approved under HAMP.

I purchased my home in August of 2008 and was laid off from my job in November of 2008. I took a job paying less money right away and have been using my savings and retirement to make ends meet since then. I just recently started falling behind on my payments and applied for a loan modification with WF. I submitted my paperwork as requested and was promptly rejected for the modification. They recommend a short-sale. Their reasoning was that my income was not enough to cover my monthly expenses. "Hello!!!" If my income was enough to cover my expenses why on earth would I try to obtain assistance from them? The HOPE program is a joke. The only assistance given to anyone in this country is the bailout given to banks such as WF and B of A. They get the assistance prompltly and without having to listen to ridiculous excuses!

The hamp program what a joke!!!!!My husband and I were not qualified after doing the trial period...We called every week and same ole story its in review....Now they r stating we r behind in r payments great...I thought this program was suppose to help people....Also u talk to all different people the right hand doesn't know what the left is doing....I am so stressed out over this whole thing...After r trial period was up we never got a letter or a call about not being qualified no one told us anything...We talked to supervisors also and still nothing.....Not happy at all!!!!!We have names and ids of people we spoke to and they all say different things....We weren't in a place where we would be losing r home but now we r...We had to of met the criteria or they wouldn't of sent us the papers......

All the news says that Wachovia has not joined with Wells Fargo. I was told today that Wachovia is sending over their files on October 15th. That is the exact time that Wachovia said they would be telling me whether I'm approved or not to stop foreclosure. I don't want to pay the extra $1,000.00 they already put onto my mortgage for my loan going into foreclose SINCE all I got was the run-a-round! I was told by the Executive Offices 2 weeks ago that I was NOT going into foreclosure and would be getting a call from someone that would assist me (Priscially Williams). Two weeks later, no phone call and now I'm in foreclosure!

WF & Wachovia are giving out FALSE reports so that they won't get audited!?!?!

We have been working with WF since may for any type of help to get us on track, a Modification or repayment plan. We submitted all the paperwork many , many , many times, always followed up with faxing and telephone calls. in Aug we were notified that we were qualified for a modification and our paperwork will arrive in a few days. IT DID. It took us a while and even though the 1st payment was not due untill Oct we filled all papers and sent required documentation in late Aug. After 2 weeks a rep from Loss Mid. called us and said the quicker the better for the papers return. We did with the 1st payment. Since then our 2nd payment has been made ( even though ( when talking with reps they say" your payment is not due until oct and Nov. hope all goes well. A few questions though. Cannot get the same answer twice. They have moved the program payment address to Minn, or La. I have both. Need to get a straight answer! (2) if the trial payments are made ahead of time will they anaylize me for a perm modification. Someone told me and I read here that a call to the exec offices will help and answer some questions. Is that true. I AM GETTING A BIT NERVIOUS

I got the same info. as Rhonda Cheavacci above. That was my question, too. How are these people applying for the HAMP, when they don't even have it ready, yet?? That's just B.S.!!
WACHOVIA CUSTOMERS> don't buy into the ['your file is being worked on for the HAMP'].It isn't. Wells Fargo at least has done a few. Wach keeps saying call next week, next month.
I read that the government EXPECTS banks to use this mod. I've sent e-mail to my congress person and senator, they just send back their own issues.
CAN WE FORCE WACHOVIA and other banks to get the process going??
I've been trying and calling since April this year. Long time for nothing!!
Question= How long can I stay in my home before they kick me out, I live in Colorado? I'm 4 months behind!
Thanks, Lilygal

I started the process of modification in March of this year. I was told to call back weekly. I received the same story every time, still working on it. Finally, I called and was told I was denied, even though I me the qualifications, but Wells Fargo was working on other programs I might qualify. I have never been late, but recently had surgery for cancer and my husband lost his job. It's only a matter of time before this catches up with me. Oh yeah, I was told to fax the information back again to start the process over again. My husband found this blog and others like this, they all say the same thing, Wells Fargo has no plans to modify this loan, or any other loans. With today's technology, nothing should take this long.

I am 2 months behind with my mortgage with Wachovia. I have previously applied for loan mod,twice, sent all documents and hardship letter they asked for. Then was told Wachovia is not yet giving out the Obama program. I received a notice of intent to foreclose. Called them, explained my situation, and they told me that to avoid foreclosure, I should not go 3 months behind. My wife lost her job 6 months ago. We have a second mortgage also with Wachovia. After talking to them several times and sending all documents that they asked for, I still have not gotten anywhere near any help from them. I do not want to lose my house. I am still employed and my wife is looking for a job. All we need is assistance to modify our loan to a level that is affordable and will keep us current.

FANNIE LOAN - CURRENT but facing hardship. I just got off the phone with Wachovia Loss Mitigation who told me that my FANNIE loan is not "CODED" for HAMP (yet?). I asked them what this code meant and they couldn't tell me. No one around could tell me and they did not have a number for anyone who could tell me. They referred me to a fax number for the "research department" just to get an answer as to what the CODE means and why they are saying my FANNIE loan is not coded for HAMP.

Hi Jason- we have been trying to get qualified for a loan modification. We have a conf.fixed 30 year w/wells. Just received a forbearance letter yesterday. Wells lowered our paym. For 3 months and then on the 4th month we need to pay 7K. Don't understand the 7k, if we could pay 7K we would not be requesting a mod. Were barely going to be able to get by on the forebearance prog. PLus the first paym is due today and I just received the letter yesterday!! Let's get it together, these mods should not be taking so long, and the investors are not involved. I've already spoken with mine several times. I'm tired of speaking with reps and supervisors who can't give straight answers. PS Wells has not once given me a call, or sent me documents. It would be nice to speak with someone who knows what is going on. Can someone please get back to me? maddom in distress!!

I'm with the guy above me. A forbearance for 3 months and an $8000 balloon doesn't help him and it doesn't help me either. With the drop in property values, you would think that you would WANT to help those who want to keep paying stay in their homes. Besides, I thought this HAMP and bailout money was supposed to help with this. And I must ask, Where are these "11,500 U.S. based people helping those of you facing financial difficulties." Every time my wife talks to someone, she gets a different person, a different story, a different time frame, and definitely, NOT any compassion or help. What does it take to get through this? Trust me, if someone would pay my fat ass, I'd be out hooking on the street corner to keep my home, but since that's not an option for me, I'm looking to you and my government for a small "bailout". You guys need to put yourselves in our shoes. What if you lost your job? or if you lost even 1/2 of your salary for a year? Or got sick and couldn't work? I hate to think how many other people out there going through this same thing. Anguishing and crying over the thought of losing their home. We are mostly good people that fell on a little hard time. It could happen to you too.

I'm with Maddom in distress above me here. Where is the common sense in the thinking that someone having trouble making their current payment be able to come up with 7, 8, and I even read $14,000.00 after 3 or 4 months?? That's crazy. My situation with WF is similar to most. At almost 30 days late, started calling like they tell you to do. Keeping them informed of the situation. What good has that done? 4 months later and nowhere. And even though we're working on the mod, they still call all day, every day. And I'm sure we are all curious about the "for a total of 11,500 U.S. based people helping those of you facing financial difficulties." EVERYONE that either myself or my wife has spoken to (and it's different every time) has had no idea about anything. Except that we "don't qualify" One says we make too much money, one says we don't make enough. What is the truth? You would think that with the drop in real estate values, that you would put some effort into not taking on any new foreclosures. Isn't that what the bailout money and the HAMP program are for? Most of us here are good hard working people that have fallen on a bit of a hard time. It could just as easily happen to you guys too. How about something simple with the "11,500 trained employees"? Why not give everyone "A" case worker that is in charge of their case, so that this 1 case worker has all of the information all of the time, and will be knowledgeable always. Think about how much time it would save WF employees, let alone the customers. It would probably cut down on irate phone calls to WF also. At this point in time, wouldn't it make more sense to basically just give hardship cases 6 or even 8 months with no payments, tack the 6 or 8 payments plus the 6 or 8 months of interest to the end of the loan, and still in the long run, get all of the interest that you would have, but more, and you would have happy customers that wouldn't be badmouthing you all around the world. Plus, that would help people build their reserves back up. After that, if someone can't make it, then go hard at them. I understand that it isn't WF's place to stimulate the economy, but since you have been stimulated with tax dollars, why couldn't and why shouldn't you do your part? As I type this, my wife is showing me video of WF in Phoenix actually helping their customers. Do you only help after the news crews go after you?

I'm with Maddom in distress above me here. Where is the common sense in the thinking that someone having trouble making their current payment be able to come up with 7, 8, and I even read $14,000.00 after 3 or 4 months?? That's crazy. My situation with WF is similar to most. At almost 30 days late, started calling like they tell you to do. Keeping them informed of the situation. What good has that done? 4 months later and nowhere. And even though we're working on the mod, they still call all day, every day. And I'm sure we are all curious about the "for a total of 11,500 U.S. based people helping those of you facing financial difficulties." EVERYONE that either myself or my wife has spoken to (and it's different every time) has had no idea about anything. Except that we "don't qualify" One says we make too much money, one says we don't make enough. What is the truth? You would think that with the drop in real estate values, that you would put some effort into not taking on any new foreclosures. Isn't that what the bailout money and the HAMP program are for? Most of us here are good hard working people that have fallen on a bit of a hard time. It could just as easily happen to you guys too. How about something simple with the "11,500 trained employees"? Why not give everyone "A" case worker that is in charge of their case, so that this 1 case worker has all of the information all of the time, and will be knowledgeable always. Think about how much time it would save WF employees, let alone the customers. It would probably cut down on irate phone calls to WF also. At this point in time, wouldn't it make more sense to basically just give hardship cases 6 or even 8 months with no payments, tack the 6 or 8 payments plus the 6 or 8 months of interest to the end of the loan, and still in the long run, get all of the interest that you would have, but more, and you would have happy customers that wouldn't be badmouthing you all around the world. Plus, that would help people build their reserves back up. After that, if someone can't make it, then go hard at them. I understand that it isn't WF's place to stimulate the economy, but since you have been stimulated with tax dollars, why couldn't and why shouldn't you do your part? As I type this, my wife is showing me video of WF in Phoenix actually helping their customers. Do you only help after the news crews go after you?

My loan was oringinated as Wachovia Fannie Mae loan, but Sept 30th I became a WF serviced. I called Wachovia Loss Mitigation on March 6th, 2009 knowing that I qualified for the HAMP program. I faxed all documents after being told to wait month after month on May 15th, 2009. My loan does not have escrows and my taxes and insurance total over 10k per year. I knew that the program requires escrows, so I feel that Wachovia "unqualifed" me through fudging the "NPV". Wachovia said that they would ask Fannie Mae for a traditional Modification and it would take at least 90 days from July 20th, 2009. I was also told I had to much equity and the HARP program would be better for me. I told the rep that borrowing more money that people can not pay back is what created the recession or banking collaspe in the first place. Today Wachovia Loss Mitigation told me that to call WF, but not until October 7th? I am still current ,but property taxes and insurance are coming due, and I have not missed a payment with my 6.125% 30 year loan since Dec 2006. When I see the current rates this all makes me crazy. It seem that I would be helped more if I borrowed more and payed back less.

I have been working on a loan modification with Wells Fargo since March 2009 and finally had it. I have taken it to the next level and have done my research. Wells Fargo keeps telling us we are not qualified for the HAMP program when I took that step up and found out that we are qualified and Wells is giving me the run around because they don't want to let me know that I'm eligible because I'm current on my payments. Well listen up WELLS I'm not going away my savings is down to nothing and its time for you to step up now You need to give not only me what I'm untitled to but everyone that qualifys. I'm not going away you won't run me down 100% guaranteed. Wells Fargo received 25 billion dollars and they are trying to give the TARP money back so that they don't have to participate in the programs. Banks are the ones created the programs that put us in this spot but don't want to help anyone out.

I have a dreaded "pick a payment" mortgage through Wachovia, originally a World Savings Bank Loan. I have been contacting Wachovia for months about the possibility of a modification. They tell me that I have always been current on my payments so there is nothing that they can do for me. It has now been a few months since I've contact them and I am about to be late on my first payment unfortunately. They called me the other day and offered me a Payment Reduction Plan. I asked them if this was a modification and she stated "it's along the same lines". She wasnt able to provide any details about it to me but told me that it will all be in the paperwork that I'll recived in the mail in 7-10 business days. Does anyone know what this plan consists of, and if it's their way of avoiding a modification. I know that I qualify for a modification however it quite difficult to get them to start the process. It is very frustrating for me because after countless years of on-time payments I reached out and asked for help, and couldnt recieve any. Now their offering some type of plan that still isn't a modification. Any suggestions about what I should expect would be appreciated.

I have been trying to get in touch with Wachovia to discuss possibility of getting a loan modification. Initially they told me that I would qualify for the loan modification but by the time I got all the required paper work and call them back-their story changed and they said that I do not qualify to get any help. Every time I call they give me a diferrent story, then they transfer me to talk to someone else or to leave a message in some mail box. Wachovia automatic system keeps calling my house giving me a 1800 number to get in touch with them ASAP but when I call trying to talk to them I get voice mail ... needless to say how frustrating this process is ... my understanding is that the Banks got $$ from the government to help us but it seems like we have nobody to turn to ... is it true that Wachovia do not have the HAMP program in effect yet? How long do we have to wait until we had concret answers from Wachovia? If we call the bank and each time we get a different response from their employees who do we turn to? Is there a web site to report their lack of professionalism and expertise? Who will help us before we actually lose our homes? All the promises look great in paper-but in reality it is not happening. What is the best number to call to talk to a Wachovia specialist who will know about the HAMP guidelines? Thanks

I applied for a mod with Wells and was approved for a Hamp, Got a letter telling me to setup 3 installments, I did and 3 weeks later I was getting letters from the trustee about foreclosure. I called Wells Fargo and they said I was denied, and it takes 10 days for the denial to be received. I got the Hamp letter of approval on 9/24, They said my denial was sent on 10/1. Now all my post dated checks are deleted, and a new financial was taken. Shame on you Wells Fargo for giving and then taking away this is wrong.

I started loan mod in April 2009. First time denied because they said we did not make enough. Then one person on executive team assisted -who was very nice-i have to admit-but they had figures wrong and offered forbearance of a very low amount for 3 months-but then said you may or may not get approved after that. At this point I had not missed any payment so I asked why I would accept forebearance-take a hit on my credit -only to find out I am not approved-then never to beable to refinace? So we went over figures again and I said I would borrow against college loans and pay off medical and also cut my expenses on groceries etc so to get approved. I did all of that only to find out that wells now said I had to much income now and was not approved!! Our income is 59600 gross per year-or 5001 gross per month (before taxes and health care ins etc.) Our present payment is interest only and with taxes and insurance equals to 2097. Under Obama plan I should only be paying 1550. They then came back and said I was approved of 6% fixed with payment of 2372!!! What the heck-their own website has re-fi at 4.85% for 30 year fixed-which I cannot afford!!!!I was downsized from a 30 year job and took 2 part-time jobs to bring the total of 5001 income in per month gross along with some pension money which is included in that amount. My wife was downsized with no income as realtor. The Obama plan says I should not pay any more than 1550--how can they come up with 2372 at 6% fixed when they offer 4.85% as a re-fi on their own website (which I cannot afford that either) What is going on to help the American public in this crisis--is it because there is some equity in our property and I have not been late yet but struggle desparately to make that payment--and that is before it will escalate in 2010? Are they wanting me to fail? I do not blame the nice person on executive team-but something is not right with this picture!

I started my loan modification process back in February '09 when I started to have financial difficulties and continued to send financial updates since then. i would call every few weeks and ask what the status was and would get the same response for several months that it was being worked on. Then in September I got a letter stating that I needed to send more updated paystubs (again and again) or they would just close my case. I called and mentioned to them that I would send them in and I did within the timeframe stated and they still closed my file. 9 MONTHS into this, calling hundreds of times for help, sending my hardship letters, struggling to make ends meet and all they can say is that I didn't send it in ontime (which I did) and that I should just short sale my townhome. NO WAY! I have been here about 5 years and now that I need a little assistance, all wells fargo can do is turn there backs on me. This is the WORST experience ever! I always thougt of Wells Fargo as a great company and also recommended to family members in the past, now this is how i get treated. Out of 20 Reps I spoke to, only 3 probably cared and knew what they were talking about. I even had a lead be rude to me and not respond when I ask her questions making me feel like I was talking to myself. I want to keep my home, does anyone in Wells Fargo even care??????

hello- I have been trying to get a loan modification application since march. I am a single mother who was laid off for 6 months and just got a job earning less than what the unemployment check was. I qualify according to the gov.website. But each time I call I get transfered to someone who has no knowledge of that program. Someone said they would email an application with in 48 hrs 4 weeks ago. I cant even get some one to re email or mail it to me. I feel so helpless getting straight information. I was told today That I couldnt qualify because I have pmi - I have never missed a payment. I truly hope that some one will respond. the nearest office is an hour a way. Does going in person accomplish anything???? I will take time off of work If I have to. This is just unbelievable.

After months of resubmitting my documentation (5x or more in 5 months) and having pointless conversations with low-level reps, I discovered Friday I was rejected for the Make Home Affordable modification due to an unworkable "deficit" in my budget. That's not what my numbers say when I sent them in 5x. When the rep read off the numbers, I about died. Completely bogus, invented numbers for a car loan I do not have. A student loan amount that is TWICE my regular payment (and is in deferment now, so is zero anyway. ) Arbitrary numbers for grocery, utilities, etc. Oh, and imagine my delight to discover I have a DEPENDENT!!! I must be the Virgin Mary herself. Good for me, cuz soon I'll be living in a manger, if I'm lucky.

Just bogus. And most likely fraudulent and actionable in a lawsuit.

I need the name of a DECISION MAKER at wells fargo loss mitigation so my state representative can write a letter on my behalf.

Shame on you people. We are stressed out enough trying to keep up with the documentation game you play with us. It is really the worst, most abusive type of customer service I've ever seen. Most of the stories here back me up.

I want a name, now.

Time is no longer on my side as an auction date has been set despite my repeated offerings to do any number of workouts.

are your 90 day modifications that you give people then say that there not qualifed reported to the goverment
as succesful modifications
if so what is requerd
of you to state you have succefully completed a modification what rules do you use would the ftc know
or the occ i am in limbo
with my mortgage payment
would it be to much to ask
when my next mortgage payment is due and how much it is please write me
a letter or send email
sorry but phone reps dont really have a clue i have called three diffrent
res in the course of 2 hrs
asked the same qustion to all three and got three differnt answers

David,
If you have 40% of equity I'll strongly suggest you refinance. Don't wait for wachovia if they are taking their time, find other companies, as long as you make sure you don't get an ARM loan. Good Luck !!

I was recently denied a mortgage modification by Wells Fargo, my loan services, and I do not know why. I can only guess two reasons: 1) I have a renter in my primary residence and 2) I have too much a surplus in my monthly budget.

I have a renter because I would have already foreclosed without it--I had to leave the state because I lost my job. And I have too much money because I live with my parents...and I am 34. My current situation in untenable and it seems as if Wells Fargo wants me to miss a payment or two so I can get some real attention from someone that can address my situation. Clearly, I am in a hardship situation that should qualify me for a loan modification--what give? I need help. Thank you.

Is there any (real) hope for a HAMP?

I just sent in the first payment on a trial modification. Just like many others trying to get a loan modification (not just with Wells Fargo) I felt like I was getting the run around. However, I have an FHA/GINNIE MAE loan. As of August 15, FHA guidelines for HAMP went into effect. The guidelines are clear cut. I called HUD before I requested an FHA HAMP modification from Wells Fargo.

The process was easy after that. I called Wells Fargo, was pre-qualified over the phone, told what I was supposed to send in and got an overnight package with return envelope with in a few days.

I sent proof of income, an affidavit that included a hardship letter and signed acceptance of the trial. I did not get details about how the modification amount was determined. The letter was vague and contained the infamous clause "may be" modified. I called HUD again and was told that the modification letter was standard at this time.

If you have an FHA LOAN, be sure to ask for a representative that is familiar with that modification. I did. I was pre-qualified over the phone. At the end of the conversation, I thanked the woman working with me and told her I wouldn't have her job for anything. She said she loved her job and was glad she could help people stay in their homes.

I think every situation is unique. Unlike what you read in the blogs, I don't think banks "want" to foreclose on your home. There are ways to show less loss on paper, but in the end, the banks will be held accountable. The 500,00 loan modification benchmark for trail modifications will most likely be met. However, if a lot of the "trial mods" do not become permanent - then there will be a backlash - a big one.

So, if you have a FHA loan, call right away. Keep your documents in order and send them in quickly. Mail letters to HUD , Congressman, the media etc. to let them know the good news. (If the mod doesn't go through - do the opposite,)

After 6 months of getting no where, I get the impression from both Wells Fargo and HUD that this is (and I quote) "pretty much a done deal. I need to make the payments and send in paperwork. Not a problem. I've already sent in the same documents several times.

Note again: I have a FHA-HAMP modification. The rules are different. According to a HUD representative, HUD is the investor and they do not want foreclosures. Be persistent.

By the way, keeping your home is a lot of work and frustrating, but getting the OK makes it all worth it.

A trick to keep your blood pressure down when calling Wells Fargo, or any service provider: have realistic expectations and be civil to the customer service rep.

Most of the people you talk to are call center employees, recently hired to plug in numbers and follow scripts. They cannot make decisions. They probably cannot transfer you to a manager without getting in trouble. The manager may not be a manager. The customer service rep may not even be using their own names.

So, please be nice to them. If you do, you will not get as angry when you don't get the results you want. (Learned this from AT&T - which stands for "Answer, Transfer & Transfer)
Customer service reps have a difficult job. Make one's day and be pleasant.

I have a wells fargo loan and have applied for a loan modification on June 1,2009 I call 2 -3 times each week since then. I'm on time for my payments because of borrowing money from my credit card to pay my bills. they told me in july of 2009 that my modification was approved and that the paper work was sent out approved and all I needed to do was sign it and send it back. I kept calling to ensure the process and they kept saying yes. Finally in August 2009 I received a packet that contained NO loan modification papers, but a whole new packet to fill out. I called immediately and was very upset. I spoke with a supervisor or the loss mid. dept of wells fargo.. well only to find out later that week, she was only a rep. they didn't want to transfer me to a supervisor because of how upset I actually was. she told me that I needed to re-fill all the paper work out and re-submit it. I did that and faxed in all paper work again on 9-1-09. still for me to call every week. now I went from $-1600.00 a month in debt. to now $-2190.00 a month. They said because I was on time with my payments that it could take as long as they felt the need to take. They have expedited the file to the highest level and have sent a letter stating it would only be 45 days for our decision and we still call 2 -3 times a week and they just told me that it is still in review.. this is a joke that wells fargo has not tried to help me in this crisis and keeps pushing my file to the end as it has now been 5 months since this modification process has started and putting me further into debt each day. This is awful and I'm seriously thinking of going to the news station with my file and phone records showing how me a homeowner is trying to get control of there finances with wells fargo and that they are doing nothing to help out in this crisis.

I have not had much assistance from Wells Fargo so far. I have submitted all my paperwork for assistance in a Loan Modification, only to be told I can afford the payment.

I have yet to figure out how this conclusion was decided as my monthly payment of $1,978.00 does NOT include taxes and insurance. My home is worth less than I bought it for in 2003. The only offer so far from Wells Fargo was to have me pay the past due amount for the next 2 months with late fees and push the delinquent amount in the rears. And get this, my monthly payment will remain the same. How does this help me.

I too have a 31% ratio and my payment should be much lower including taxes and insurance. To top it off, I received a letter giving me the options for assistance. However, none of the options have been provided by Wells Fargo.

I have read online that I qualify for the HAMP program, but Wells Fargo states they do not have this program. Hmmmm.. I found it on their website.

At this point of time, I have put my home on the market and ready to walk away due to the lack of interest that Wells Fargo has in my home.

Wells Fargo Home Preservation department has advised me to stop paying on my credit cards and other loans so I can make my mortgage payment. It is quite clear that they are not fully reviewing whom i owe debts as 2 of my other payements are to Wells Fargo. None of this make any sense, I know that I need assistance, and like most folks that i am reading about on the internet, am not receiving any financial assistance.

But the government is telling folks to refinance and seek assistance. So far the red tape with Wells Fargo has been for me the last 7 months. I have hired someone to help me with the process and have been unsuccessful. Now I have a Real Estate agent and Short Sale attorney.

Since the loan modification process has started, I am further in debt, with no answers. I am just living each day until help comes my way.

It is sad to see so many hard working Americans pushed into this situation.

On February, 2009, we faced a difficult situation that caused the delay in the mortgage payments.
We contacted an Attorney to help us handle the situation with Wellsfargo. Unfortunately, after several months with no resolution, we found out he didn’t present the information required and the case was closed.
On May 22, we contacted the “Loss and Litigation Department” directly at 1 800 253 76 54 to explain what happened and faxed all requirements. We got confirmation everything was received and was complete.
We were told it may take between 45 and 90 days and we would get a payment plan soon. We were instructed to call every week to follow up.
Our weekly calls to this department started:
On June 12, we talked to Tom and got prequalified for the “Home Affordability Program”, since our Loan is a Freddie Mac, it was supposed to qualify for a Principal modification as well. We sent a check to start.
On June 23, we were told the check was received and the negotiator was assigned.
Our weekly calls continued during July and August and we were told basically to keep calling and waiting.
On August 23, we received a letter saying our case was in delinquency and to avoid acceleration to Foreclosure, we should send the whole payment. We called and were told this is an automatic letter sent by the system and we should wait for the loan modification.
On August 26, we received a call asking for our approval to open the Taxes escrow account. We thought things were moving forward…
On August 31, we received a call saying that some documents were sent to us via mail and we should disregard them, because it was a mistake. They would send the correct letter soon. I received the “Temporary Forbearance Agreement” letter a few days later, dated August 26, saying we needed to send 3 payments of $3711.51. It was obvious this was a mistake, since our regular Mortgage payment was $1542.
A few days letter, we received another “Temporary Forbearance Agreement”, dated August 31, saying we needed to send 4 payment of $3555.11. On September 3rd, a lady called me with an awful attitude almost yelling that we must pay. She didn’t allow me to talk or to explain we were told before the letter was a mistake. She was so rude, I asked her to transfer me to someone else. She transferred me to another lady, who was very nice and patient. She reviewed our case history and confirmed there was a note saying the letters were a mistake.

On September 8, we faxed the updated financial information to avoid any delays with the resolution.
Again, on September 9, we received a call asking for the payment. We explained we were told the letter was a mistake and we should disregard it. We were concerned about continue getting incorrect letters, so we faxed the 2 letters received with a note, explaining we were told to disregard them, so that they got attached to our file as a proof.
We were anxious to finally receive the correct letter and start the payments to get us back on track!
The weekly calls continued…
We received another call on September 22, asking to confirm the situation of the property taxes, which are up to date.
On Friday October 2, we received a letter dated September 24, signed by another person, Written Customer Department, asking if we received the “Forbearance letter from August 31” since they were waiting for our payment.
I called on Saturday October 3, very concerned about this conflicting information again, and talked to another lady. She said a ticket was opened since September 22 requesting the correct letter. I explained her I was so concerned about receiving different information and that we were looking forward for the correct letter and start sending the payments as soon as possible. She sent another email to the department in charge of sending the Forbearance letters.
On Monday October 5, I received a call to confirm if we received the letter, dated September 24. Again, conflicting information… I explained what happened and the call I had on Saturday. The person calling said she was a colleague and she would document our case properly. She said an email will be sent to the department in charge asking for the correct letter. I was told to call at the end of the week to follow up.
On October 9, I made the call to follow up and got the shocking news. Neira told me that our case was closed because the correct Forbearance letter was the one dated on August 31 and we didn’t send the payment as expected. So we needed to start over and wait other 90 days. I talked to her for over an hour explaining all my notes above, with dates and names, and that this was not possible. She said the colleagues that spoke to me before “should have informed me and update the financial information before September 28”. So basically, due to this internal error, our case was closed.
I asked for a Supervisor because our concern is to start over again and continue getting incorrect letters, with absurd amounts, receiving calls saying they are a mistake, and after other 6 months of going back and forward, end up in the same situation.

I JUST WANT AN ANSWER...THIS IS KILLING ME!!

I feel like if I started this mess, I didnt..the banks started all this!!We are just the victims..I lost all my lifetime savings on the downpayment and I just want a reasonable mortagage and get back on trach, in oder to keep "my" house.

I have been trying to modify my loan for years now. Is there hope for us?

I have WellsFargo and been trying to geta Mortgage Modification since May. When I first applied I was wroking and got a pay cut. Then in June I got laid off. I am a good customer always paid in time and something even paid early if I had extra money. I called WellsFargo every week to get some kind of status on my modification and their famous excuse is that they are waiting for the negotiators. In the beginning of this month I got a letter that a first appeared to be a modification but it was just a payment plan for 5 months than I got this big balloon payment on the six month. If I'm having trouble paying now why does Wells Fargo think I could pay that big balloon payment. When I called them and asked they told me that they dont expect me to pay the balloon payment at the end. So I told them why did you guys put it on the letter. I feel WellsFargo is that taking advantage of homeowners, they dont care if you foreclose or not. Something should be done about Wells Fargo.

The comment at the beginning of this blog: "We're also gearing up to qualify most borrowers for a HAMP trial modification during our first point of contact. Our goal is to send eligible customers a trial modification agreement within 48 hours. During the three-month trial period, we can then work with you to collect all of the required documents to determine if your modifications can be finalized." Is a joke. For those who have yet to go into late payment status this could be horrible. The banks are asking you to go into 3 month trial with no guarantee they are going to approve you. You meet all the requirements by making the 3 month payment then they turn you down. Why not do the leg work up front by qualifying the individual in the entirety the first day and then saying you make the 3 months payment and this is what we guarantee you. Guess what the banks don't want to do this because they are only looking out for themselves.

Hey, guess what?? I just gave my info. to Wachovia reps. for a HAMP mod.
They started today, so please call the loss mitigation @ 1-888-565-1422. I waited patiently for one hour, but got to get the mod. started. You will need loan #, last 4#s of social security #, address.
Gather all your income and debts, you will need them. You will need to tell them your hardship, what payment you would be comfortable paying.
Then, you need to mail [faxing dept. is overwhelmed already] mail your proof of income, w2's etc. and tax return. Just get all things income. They will tell you. Then, just mail and in about 30 days, you will get a denial or approval with all details and told to send your first pymt. check in.

Good luck to all and remember pack some food & drink cuz you'll wait at least an hour, but it's worth it. IT'S FINALLY ARRIVED!! WHOO HOO!! Lilygal

I have struggled for over 5 months working with Wells Fargo Loss Mitigation and Customer Service reps trying to achieve a workable solution to avoid foreclosure and keep my family in our home. Now, I am writing to the Wells Fargo Executive Team for help.

My family and I are dealing with severe financial difficulties: My husband’s loss of employment & subsequent bankruptcy and a reduction in my business income. Things were great when we bought our home 3 years ago but it is now worth half of the purchase price and our finances have drastically changed. Like many American families, we owe much more than our home is worth so refinancing or selling is not an option. Nevertheless, we want to stay in our home and have gone to great measures to keep making payments until we could no longer afford to do so. I contacted Wells Fargo Loss Mitigation to apply for a loan modification in May 2009 when all of our savings and additional resources had completely run out. Our loan was supposedly “in review” for several months with no change in status. (I also have an extensive phone log documenting hours of calls with Wells Fargo representatives who politely gave me the “runaround”). After becoming 90 days late, we were offered an unaffordable temporary forbearance plan instead of the trial payment plan under President Obama’s ‘Home Affordable Modification Program’ (HAMP).

I would like to know why Wells Fargo has refused to screen us for President Obama’s ‘Home Affordable Modification Program’ (HAMP)? Although I confirmed via 995 HOPE that we do qualify for the program and have worked with a HUD approved dept counselor who told us we meet HAMP qualifications, yet I have been told by several Wells Fargo Loss Mitigation Representatives that we will NOT be screened for this government program because the “Investor” of the loan “does not participate in the program”. However, after researching my original loan documents and sending Wells Fargo a 'Qualified Written Request', I received confirmation that my “investor” is in fact Wells Fargo. The letter I received dated Sept. 18, 2009, reads “The investor of your loan is Wells Fargo Mortgage. All inquiries and concerns should be directed to us.”

I know there are many families out there that are struggling like mine; we are exactly the type of people President Obama’s program was designed to help. Since Wells Fargo is a “participating servicer” in this program and also the “investor” of my loan, why are we being REFUSED for HAMP and instead offered an internal unaffordable forbearance payment plan that is far inferior to the government program? The temporary forbearance program Wells Fargo offered us on Sept. 1, 2009 (in lieu of HAMP) not only undermines the program but leaves us with a payment that is more than 50% of our monthly gross income. Though we have struggled to make these forbearance payments to avoid foreclosure, it is not a realistic long term solution given our situation. We continue to have a large monthly deficit, and have had to sell our furniture, pawn our jewelry, etc. to make ends meet.

Wells Fargo received $25 billion as part of the Treasury Department’s Troubled Asset Relief Program during the credit crisis but will only pretend to help struggling borrowers like myself. WF Co-President signed a “SERVICER PARTICIPATION AGREEMENT for the HOME AFFORDABLE MODIFICATION PROGRAM under the EMERGENCY ECONOMIC STABILIZATION ACT OF 2008” on April 13, 2009. The agreement states the following regarding struggling borrowers who meet the program’s minimum requirements:

Authority and Agreement to Participate in Program:

A. Servicer shall perform the Services for all mortgage loans its services, whether it services such mortgage loans for its own account or for the account of another party, including any holders of mortgage-backed securities (each such other party, an "Investor"). Servicer shall use reasonable efforts to remove all prohibitions or impediments to its authority, and use reasonable efforts to obtain all third party consents and waivers that are required, by contract or law, in order to effectuate any modification of a mortgage loan under the Program.

Given the severe negative equity in our home and our documented financial hardship, I sincerely hope Wells Fargo will appropriately screen us for HAMP and apply program guidelines accordingly. Any guidance or suggestions that might help us accomplish this would be most appreciated. We simply want to avoid foreclosure and stay in our home.

I have been out of work for the past year and a half. I went back to school and have been living off of my savings because I cannot find work. Believe me I have tried. I contacted WF to get a loan modification and after waiting for 6 months on a decision - I was told I dont meet their requirements to have the loan modified. I have never missed a payment, however if something is not done, I will loose my home because I wont have any money left to pay for it.

The other day I got a call from a wells fargo rep telling me how valued I am and wants to know how they can help me with my credit card needs. I took that opportunity to ask about my loan modification and they told me they are really backed up, that is why it took so long. They were working on closing new mortgages and pushing loan modifications to the side. I said so closing is more important then helping people keep their homes? She did not have an answer.

Bottom line here is I need help. I find it hard to believe that with the state of of the economy, WF refuses to help its own customers. As soon as im able im closing my Wachovia accounts and will either walk away from this house, or find another company to go with.... but of course that requires a job first.

After reading these blogs I can't help but feel both a sense of relief and hopelessly frustrated at the same time. I almost feel a sense of community with you folks having had a very similar experience trying to work out a loan modification with Wells Fargo.

My story is very much the same as others. I was out of work for 18 months. Over that period my wife and I burned through close to $100,000 of savings, I sold my car and some family heirlooms all in the attempt to stay current on our mortgage, which we did for the entire time I was out of work. I recently found a new position but my salary is about 40% of what it was previously. We paid $575,000 for our house in September of 2005 and it was just appraised by the county assessor at $400,000. Our loan is interest only but will become fully amortized and begin adjusting in September of next year. Refinancing is impossible because we are so far upside down and we are in a position where foreclosure is eminent.

We began working with Wells in March of this year when we were still current and were given the run around for 3 months. It wasn't until we started to fall behind that progress was made on processing our file. In August we were placed in a 3 month trial payment period and have been told once we make the November payment we need to resubmit our paperwork to be considered for a permanent modification. Our loan is held by Wells Fargo, so I am hoping that they will have a greater sense of urgency to help us because there is more at stake if they have to foreclose.

On top of all that. My wife and I are expecting our first child in February of next year. Honestly all we really want to know is whether or not we need to give the house back and move on, both physically and emotionally. We've put a lot of money, blood, sweat and tears into our house to make it a home. We love our community, we love our neighbors and we want to raise our family where we are but this process has put our lives on hold for the last 7 months. Please consider this my plea asking you all to just make a decision and make it quickly so we can move on.

This whole modification thing is a GREAT BIG JOKE! By the time you do get around to being reviewed for a modification, you owe so much in interest and fees the amount you would be financing is too great for you to carry. Not to mention the mistakes made by BAnk of America/Wells Fargo in in-putting your personal financial info. I gave them my financial info so many times it was a joke and they still got it wrong. I FAXED it in also and my income was overstated in their records by $4,000! This is too much for my family, I fear for our emotional well being as well as my marriage. Lives are being destroyed and no one is listening much less our fearless leader, OBAMA! There are greater issues such as "Health Care Reform". I believe I'm correct when I say that in July or August, Feds told Financial Institutions that received TARP money that if they expected more help this fall, they would increase their cash flow. Well, guess what, they are, by foreclosing and selling homes as fast as they can. Until this stops, our economy cannot recover!!!!

Is Wells Fargo doing mods on 2nd loans?

I don't understand what the criteria are for the HAMP loan. Due to my recent divorce, my household income has significantly decreased, yet I was rejected for the loan modification. I know that if I received the modification, I would be able to make the monthly payments. Why specifically was I rejected? There was absolutely no explanation. It would seem more beneficial for Wells Fargo to modify my loan than to have another foreclosure or a short sale.

My story is the same as others who have posted on this site. I have been in loan modification hell since March 2009. My husband lost his job and has yet to find another one. WF granted us a 3 month payment mortorium. Somehow we came up with the money and made the final payment in June. We then asked for a more perm solution. We were denied. No real reason was given. The letter that I received said that we didn't submit all the paperwork even though we did. I called WF to let them know that was not true. They told me it was still denied and that I could apply again. I was told that if I made some kind of payment then I would be approved for a loan mod. I came up with $1400 and I am still waiting for to be approved for a loan mod. It has been a month now and no upates only that my loan is being reviewed!I have gone through the frustration of having to provide info over and over again, was told my home was transferred to the short sale dept which I did not ask to do - I am trying to keep my home. I am not as bad off as some -in that I am one month behind BUT I am robbing peter to pay paul to come up with monthly mortgage payments since the loss of my husband's income. I just don't understand if there are programs out there WHY can't we get the help!

where can douments be found on line to fill out to qualify

so far after 8 months of phone calls and faxs wachovia still oly has lied and decived me .....

I can't believe this. I thought we were the only ones. I am just shaking my head reading all of these posts. How we are all being taken advantage of by Wells Fargo – what a said state of affairs.

We just got a foreclosure notice from Wells Fargo and were told that we have been reported to the credit agencies that we are 90 days late on our mortgage. We have never been late on a mortgage payment but have been struggling financially ever since my husband took a pay cut at his job. We figured we would try a loan modification program. We heard Obama talk about how people who have never been late can get a reduced interest payment over a span of years and then come back to their original payment. We were perfect candidates.

This was back in July. We started the process and received a 90 day moratorium. We were told to take the money we would normally use to pay our mortgage to pay down our other monthly dates. We sent in a financial worksheet monthly showing our progress. And at the end of the 3 months - we reduced our monthly debt $700. My husband has called Wells Fargo daily for about a month asking for the terms od our loan modification since the 3 months ended in September. No one can give us an answer. They say "it's in process." We sent in all the required paperwork NUMEROUS times - we have every phone call documented. Still we get no answers. When we got the foreclosure notice we just cried. We cannot believe this is happening. We have done everything Wells Fargo has asked and they will not give us an answer to our loan modification - they tell us to wait. Then they turn around and send us a foreclosure letter and a Wells Fargo representative showed up at our house to take pictures.

My husband called to tell them we will send in our normal monthly payment until they can give us our modified loan terms. He asked that it be credited to our October payment. They refused and said that since we are over 90 days late it will be credited to our July payment. I thought they could not consider us delinquent while in the loan modification process? We don't know what to do. We are going to lose our home because Wells Fargo will not give us an answer. We have done everything they asked many times yet we cannot get an answer from anyone at Wells Fargo. We get a different person each time we call. We were told that our loan modification officer was "Charlotte Small". So each time my husband calls - he asks for her. The rep always says "We can't connect you to Charlotte Small." Why? Is this a fictitious person? Is this a name someone made up to "shut us up" when we asked for who is handling our case.

We are losing our minds and do not know where to turn. We have done everything Wells Fargo has asked - why won't they give us an answer?

Well, I would like to say it is comforting to know that we are not alone, but disappointment is all I can feel. I was never late with our payments of over 2k a month. My husband took a job making less, then we got pregnant and I was laid off during maternity leave. We never were late, never. We cashed out our 401k, we borrowed from all family members. We did it all. My pride was too much to not pay our mortgage. I finally started working, but times were/are still rough. We sought a modification starting in March... I was told "to not pay March, pay April, May, June while my account would go under review" I was told "this will not affect your credit". Both incorrect. My score is in the gutter.... It is October and we are still playing the game. We are 11k in the hole and were offered a modification for $25.00 less a month and the loan would be stretched out for 15 more years. What an insult! We were recently told we were denied due to "investor guidelines". My husband called yesterday to find out that the guideline was that we did not have sufficient insurance on our pool. He laughed....WE DON'T HAVE A POOL. Now what? We don't want to loose our home. We added a new roof, tiled the entire house, redid the master bath and gutted the Florida room added wood flooring and a new ceiling. My husband did all except the roof himself. Now we have to short sale or foreclose, just walk away and start over. This has spun me into a depression and is now affecting our marriage. When do people like us get a hand?

It amazes me that there are this many problems..Don't get me wrong..I am sure the company is overwhelmed with people like us having difficulty keeping their homes. And problems are a percentage of doing business. I lost almost half my monthly income and have been working as much OT as become available. So...I might be fortunate more then others. Since my Divorce, I have incurred added expenses with child care etc.. My life has changed considerably. I'm not complaining. But when you have been a good customer and have good credit..I don't understand why I am being put through the ringer like a common criminal. Lost paperwork, stories changing. Plans changing and even being lied to. Collection Reps that are plan nasty and record what I have not said or make inferences based on their own thoughts. After nearly a dozen collection calls one Rep. who was very pleasant said that I was missing a form. I was never told this. He couldn't tell me what was missing. I had no idea there was a missing document and this was the reason why my case was dropped. That and not keeping in contact with them. Excuse me. But what was I going to tell anyone any different from two or three days before.
My point is that I am trying to make good on my responsibility to WF. I have or had good credit and up to the last few months..I have been a good payer. You would think that my situation would be an easy fix. I was told I don't qualify for HAMP because my Divorce Decree does not state that I, exclusively shall retain sole ownership of the house. (The Feds say I do) But when it comes time for them to collect their money, legally we are both responsible. My Ex is a retired City employee.. She has custody of our 2 boys. And now has to provide for her own medical insurance. Can't get blood from a stone. The house is not worth the balance of the note. Brokers have told me that I would need an additional 30 grand on top of the balance. But after being told that I don't qualify for HAMP and if there was nothing that WF could do.. they offered assistance with a Short Sale. Umm. Now there's an expense. On my credit history, WF has me listed having a 40 mortgage, and they refuse to give me an Escrow account. I have attempted to refinance with other companies.. there is not equity in the house. I have researched and talked to many in this business. I am stuck with WF who in my mind may have been responsible for giving us this loan with a high Debt to Income ratio.
Its not my nature to bad mouth anyone. I feel I am attached to WF like a bad relationship. I love my house. I make good money and I have nothing to show for it. I don't understand why a company so large..appear to be playing with their customers. People who went to them with good intentions and who were granted their dreams only to turn into...well who knows. The economy changed.. so now we the consumers are the bad guys. Everyone has to adjust in times of economic change..did I say that?

I just want to know if there is anyone out there that has received any type of help I mean real help from Wells Fargo through HAMP.

Alas, Wells Fargo is not working with me on a loan modification and I will need to sell my house. If WFB had only done what the Obama administration said, I would have been able to afford my monthly payments and keep my house. I feel like I am the poster child for this program: single mom with twins born prematurely 4/22/08 and all kinds of early medical concerns... Work cut hours WAY back starting in March and now I'm at about 28% of full-time hours. Since April, I have been denied twice by WFB for a loan modification because of not falling within the "investor guidelines". I will never do business with this bank again, and neither will my parents or my good friends.

Oh, and by the way. My credit score was nearly perfect going into all of this.

You know I sit here and listen to all these comments.....The whole time I am shaking my head...going through the same exact mess..I have been trying to get some HELP since July 2009....only thing they offered me is a 3 month break..I'll call it..only to be paid in full..how in the world is that a HELP? Heck..it will take me 3 months to come up with the money due in 3 months...give me a break...then did I tell you they had my numbers wrong...had me over 4k in debt each month....that's right..and listen I have been a customer for 19yrs...you can count on your left hand we have ever been late..now we need help...and can't get it...what a joke all of this...seriously...I have never seen such a mess....good luck to everyone that needs help....

After receiving a modification at the end of Aug. I signed the permanent modification and my first payment was due on October 1. Well I did not receive a statement so I made my payment over the phone.
i notice online that our loan info has not updated and we are being charged LATE FEE'S!
i have called WFHM over a dozen times trying to get this straightened out and the response everytime is that they will send my negotiator an email and find out whats going on.

The only contact we have had from WF has been receiving a threatening letter from Wells Fargo last week in the mail telling me that they are going to accelerate the loan to default if I don't pay the past 3 months of payments due. I have made our modified payment 2x now and these are being held as no applied finds!!!
who do i have to call to get this fixed??????? the late fee's have undoubtedly affected our credit as well. WF should be contacting us with apologies and solutions. But nothing.

So yesterday I called and tell them that I signed the permanent modification paperwork which they sent to me and that I have a confirmation of delivery from UPS. I ask them why Did I get a notice of default. They say there is an error on their system and they need to fix it. The lady says she will email the negotiator and tells me she doesn't know why this is happening.
Great!

I don't know what to do anyone have any suggestions?

WF will not help you!! I have been asking for help since Dec. 3 2008. I have been approved and denied 7 times for Hamp. 7 packets with different amounts have come to my house via UPS. I am working with "the office of the president"(which is another department of no action and little help). Wf could not calculate unemployment beneifits correctly(they add a multiplyer to the gross to calulate which is wrong because if you do not taxes with held that is the gross and there need not be any further calc. that was Aug 09'). Now I have Titanium Solutions coming to my house to pick up paper work that reduced my mortgage $10. Wf does not care, Hamp does not care, and I wonder if I will ever be helped????

I can add to all of this,
it is now Nov. and we have
sent paper work every month
since Feb.1.2009. Never ever get a straight answer and now we have to put the house up for sale because we just can't do it anymore.We are in are very
late 70s and have a 50%
equity in the house and
still can't get an answer.
My husband works 32 hrs a
week but it is a real struggle.

Of course as soon as I post that I am not getting a modification, Wells Fargo comes through. After 6.5 months of waiting, I now have a 3-month trial period! the letter came in yesterday's mail. Hang in there - good things can happen!

7 Hamp Packets have been sent to my home. I have been approved denied 4 different times. I am in a trial payment plan for Hamp(2 payments have been posted). I received a letter today that WF has not any paper work. THis is absolutely crazy!! No help from Wells Fargo.

Here's my experience with Wells Fargo.

I have been out of steady work for a year now and once unemployment runs out, will be unable to pay our mortgage. I called Wells Fargo to see what they are willing to do. Know what the reps reply was? "You don't make enough money to qualify" My wife works full-time but only makes 75% what I did when I signed the loan, we have NEVER been late and have almost always paid extra principle for the past 6 years. I was hoping Wells would be willing to change the mortgage from 30 years to 50 years. Not even looking for a rate reduction. Wells Fargo would win since the longer we take to pay the loan, the more they make. We would win because it would reduce our mortgage by $350 each month for the time being and we can afford to stay here.

Since Wells Fargo is incapable of making a reasonable financial decision, in 4 or 5 months Wells Fargo will have to pick up the keys to the house and deed from our kitchen counter.
Brilliant, Wells Fargo morons!

WF needs to give back the TARP (our) money. They are playing mind games with customers leaving us dangling on "pre-approved" HAMPS to placate the government. Once the government receives numbers from them on how many they are "helping", they pull the rug out from under us and rescind "preapprovals" for loan mods. We need to organize and mobilize. I am going to my congressman's office on Monday. I have also filed a complaint with the FTC and intend to do so with the OCC and contact the media. Call CNN, Clark Howard, the New York Times, Washington Post etc. Be heard! If we all stand against them we can force change in how all these crooked banks do business.

I have been trying to get a loan modification for a year. I am getting the runaround. Everytime I call, I get an unprofessional, rude representative who always states it's being reviewed and will take up to 90 days. Why can I not get a trial modification. I call everyday and get the same response. Okay you guys are not trying to help homeowners!!!!

I wonder how the bank is giong to feel when I say screw it and quit paying. I feel everyones pain. Been working on this issue since April because I anticipated having troubles. Now that I am having troubles I continue to get the run around. "were escalating your case" is what I have heard for over a month. I say screw them and everyone quit paying. Im tired of trying to be a good customer. What the hell do they care, they are getting their money, Im broke and they dont live with me eating bologna with my kids. These dudes need a reality check. If anyone has a better suggestion please fill me in.

Rant On - Just received my second "Special Forbearance Agreement" from Wells Fargo Home Mortgage" with the usual impossible terms. Just like before, they ask for 3 regular monthly payments (same amounts as the original mortgage) and then, as a fourth payment, they want every dime that is past due or they once again motion the court for a sale date. The only purpose in these forebearance agreements is to collect interest. Wells takes these first three payments and applies them one at a time to the oldest month past due - mostly interest of course. When you cannot make the 10-20-30 thousand dollar fourth payment they immediately (in my case, within 3 days) petition the court for a new sale date. Wells Fargo wants to take the house, but wants to delay as long as you pay them interest. I regret my bad home purchase investment every day, however Wells Fargo purchaed my mortgage from the originator and also made a poor investment. What possible benefit is there to Wells Fargo not to work together for a permanent solution ? I've asked my Congressman, I've asked my Senators and I've even asked the Treasury Secretary. All I hear is - no oversight - they can basically do what they want. HAMP, bank bailouts, Save our Homes, etc. was all political fodder to give the folks back home some hope. Wells Fargo is supplying the government with false information claiming these "Special Forbearance Agreements" represent mortgage holders they have helped. They are only helping themselves. Come on Congress - Open the banks books for public display. Rant off - I've got to go looking for a place to rent - I'm taking my ball and going home

I just want to know if there is anyone out there that has received a permanant mortgage modification from Wells Fargo through HAMP.

I'm on my 2nd trail modification - just hoping that this one becomes permanent.

I've been going through this process since April 1, 2009. I cannot count how many times I've sent my financial information in only to be told to resubmit because it is out of date.

It seems like Wells Fargo is slowly getting things together - I have a direct number and a person to talk to - (unlike the 800 -customer service number I had to use for the first 6 months)...

I'm just wondering if I will ever get a permanent modification and how many other people have actually gotton one.

Kris

We were given a trial period payment reduction and setup 3 auto deduct payments for Oct. Dec. & Jan. Have been talking to our processor and we have recvd NO paperwork from Wells Fargo, We are told no HAMP agreements are being mailed out yet? Why? It has already been over a month, can't figure out why we have nothing in writing nor can we get the HAMP package to sign and get it to a final stage. any ideas?

We started the mod program on May 2009 and the HAMP on september 2009. after sending all the required info to Wells Fargo.We were told that we are on a trial program that we NEVER agreed to. All of the sudden our record got deleted from the system and all the scanned documents.. we still waiting to hear all the so called supervisor like they promissed..We are thinking of having a lawyer to take our case..WHY our record got deleted?? WHY we'are in a trial period without our conscent? did somebody forged something..WE DON'T KNOW..May be an attorney will find out about all that??

I have a Home Equity Line of Credit with Wells Fargo that is approximately equal to the amount I am upside down in my home. The first is with another bank. Is WF willing to modify my HELOC before I walk away from my house?

Reading all of this is horrilbe. I have been dealing with the exact same thing since March and was just told to sell my house or turn over my title.

I have responded to every call and faxed every document. I was set up to make my first payment Nov 1st then was told I was denied and that I had called in and changed my financial status which I did not. I called again today to see if I had any options and they told me that I could pay $17K or move due to the fact the Freddie Mac was not participating in the goverenment loans and there was nothing else they could do to help me.

i've been attempting to modify my loan since November 2008. I have faxed over my documents over 20 times. i have been denied once, each time i call its a different story by a different cs rep. Wells Fargo isn't helping anyone, they are prolonging this problem. i'm not sure what to do right now.

I have found some type of comfort reading all this comments from people that are going through the same dilemma. I started researching for mortgage modification since Nov 08 when my payment was still 2500 base on the land value from the developer. I went to 4 deferent lawyers and they all told me the same; that I have to stop paying in order for the bank to work w/ us and unfortunate the system was not working w/ people that were still making payments. In Jan 09 my payments went up to 3195 due to taxes on new sales value. I stop payment and got a lawyer to summit my modification papers. After 6 months I called WF to find out what was going on, they told that I was denied because I didn’t met the investor’s guidelines, “sounds familiar”. My lawyer resubmitted everything once again (bank statement, income tax, paystubs). I got a call from my lawyer on the 16 that WF was on the line giving me a trial period for 3 months paying 1995. When I got home I looked at my old statements and my principal & interest was 2k, since I had scrawl for the taxes plus insurance brought the payment to 2500. Does anyone know if the payment goes UP after the trial period or do they adjust everything to fit in that payment??? It seems like after my trial period I will end up paying the same payments, in debt from 337K to 377k in a house that is worth 205K.

Has anyone been contacted thru their email after posting to this blog? I had an email about two days after my blog posted stating they were going to contact me within 24 hours to discuss a solution. But yet again Wells Fargo did not do what they said they were going to do. I have had it with this lack of costomer service! I will never again bank with these people.

Wf Exec. Team told me that I had not sent in my Hamp paperwork in. 80 min phone call with mgr still nothing, however the payment that was sent with the signed docs was cashed and the next months payment. They are not scanning the docs in on time, then they tell us(customers) that we are the wrong ones.
NEW SCAM TO WATCH FOR MAKE SURE YOUR DOCUMENTS ARE THERE AND SCANNED IN.
Dec is my last trial payment. Everything has been a battle and the fight continues!!

I have made my last Trial period payment, submitted updated info. Calling regular number rep attempted to tell me my 1st payment was late! CRAZY!!!! My payments were early and all docs faxed and hard mailed. Calling Exec team has seemed to help alot, although I talked to one the other day , She got testy and would not answer questions said " I need to work with loss midigation". Seems this women did not want to work with me only saying Exec team is wrong place to call. I am getting a bit worried but will keep attempting, and hope to report GOOD News as nothing has changed!!!! Seems as though before last week Exec team has been more than helpful, Maybe they are getting hamered by worried applicants?

After being on a trial period for three months that reduced our monthly payment by about $250, WF offered us a loan mod that reduced our interest rate but extended the loan for 10 more years (to a 40 year mortgage). I don't consider this to be a viable option. We will pay more interest in the long run.

My husband thinks we weren't given a better deal (like lower interest and same loan length) because we had mistakenly reported my paychecks as coming in twice a month, rather than every two weeks and so our average monthly income is slightly higher than we were reporting. He thinks the only reason we weren't given a better deal was because now it showed that we had a slight surplus each month--enough to cover the $250 they dropped our mortgage. I think they didn't give us a better deal because our mortgage payment is not a significant chunk of our income. Why are or aren't people getting loan mods?

Furthermore, I wasn't happy that they called to deliver this information instead of sending a letter. When I told them my husband wasn't available to talk to them, they pressed me for a decision about whether we wanted to accept this or not.

At first I was hopefully, after waiting over 5 months for something to happen with the Loan Modification papers I submitted w/Wachovia I received a call to schedule an interview. I was told that I would need to submit documents & if I qualify & made timely payments for 3 months I would be eligible for a Loan Modification. Now after reading the numerous posts, it doesn't look like things are looking up after all. I fell behind in my mortgage when my HOA placed a lien on my place for $4000 in special assessments, little did I know that they would be able to foreclose on my place, well they did. In order to avoid losing my home for $4000, I entered into a agreement to repay $9000 (costs & atty fees). This additional $700 month outlay in addition to a 30% reduction in my income caused me to fall behind. I contacted Wachovia immediately, but to no avail. Now I'm not sure if I'm going to be able to keep the place that I have struggled so hard for these past few years. I had hope with the Government's plan, now I'm feeling hopeless & am wondering what's going to happen.

My wife and I are dedicated customers of Wells Fargo since over 8 years as we are dedicated parents to our two children. Last year in May, we received a terrible news for our son, who had just turned 2, that he was diagnosed with ASD Autism Spectrum Disorder. We new immediately that an early comprehensive intervention program had to be established in order to stop Kayra’s neurological regression.

We realized, few month into the intervention that our savings would not be enough to cover all medical and therapy costs and we had to re-prioritize our cash flow. That was the period when I started contacting Well Fargo about a possible modification and explained in greatest detail the reasons for the request. We had not defaulted our payments and we thought that the Wells Fargo would work with us in reducing our mortgage so we can free up more funds towards the intervention program for our son. We were told that the bank could not engage in any modification unless we were in a default situation on our payments. Each time when I summarize this to a Wells Fargo official they are in a disbelieve that one of their staff told me explicit to default before engaging me in any Loan Modification. We pursued all possible ways until Sept –08 when we defaulted our first payment to qualify ourselves for a modification. I called weekly in to Well Fargo and submitted every 2-3 month all my paystubs and had to redo my financials several times as they were valid only 3 month each time they are received. I tried to structure my communication and made it as traceable and accountable. My wife was not working as she had to attend to my son and I expressed that in my first Hardship letter in great detail. We were denied a modification based on reasons given that the pay stubs of my wife were not received. I communicated and had it verified to the customer service at Wells Fargo that we mentioned that my wife was not working in the hardship letter. Even though this was acknowledged I had to re-apply, so I was told. I tried to argue but eventually realized rather wasting time a resubmission of my updated paper work served me and the bank more then a discussion that appeared to not help anybody... At least me.

So, we did re-apply and I did follow up with the 1-2 calls weekly and continued submitting all of the paystubs proactively every 2 month. We learned this time in April that we were denied because were were a “difficult customers” to be contacted. It was mind blowing and I could only think that they mixed us up with somebody else! I asked in my weekly calls to be passed on to the negotiator plead with the customer services and several of their supervisors, to write a note that the negotiator contact me but neither way could we establish any contact. We applied a third time and continued our communication diligently.

After 10 month we managed to get on a Forbearance Agreement. We signed the agreement and sent it in with our first payment. I posted a note that I needed to receive a signed agreement back. After 10 days I wrote another letter asking for the signed agreement but received nothing at that point. Before I made my second payment I called again asked the bank to mail me a signed agreement back. On the week when the last payment was due I had to travel out of town and we had mailed all first two payments by Certified mail and I had intended to mail the third one also by certified mail. Due to my son’s condition and he developing on the top of that some fever my wife could not leave the house to mail the certified envelop. The payment went out 2 days to late and thus the last payment was posted 2-3 days later then it should have been. When I called into Wells fargo on Nov 12 I was told that I was in Breach of the Forbearance Agreement that I have no other choice then to start all over again. I tried to explain what had happened but there was no way of delivering verbally the information that could lead to actions at the bank. I immediately wrote into the bank a letter explaining what had happened --Nov13th. All communications that I tried are one way and the people I talk to have only limited knowledge or authority to discuss further. On Nov 14th, I resubmitted all my documents again following a phone conversation and 3 days later I called in verifying that everything was posted on my profile. @ days later I again called in and asked to verify that everything was posted and the answer was "YES, Negotiator will be assigned to your case."

Nov 23th, I called in and everything was still OK, waiting for negotiator to be assigned.

NOV 24th, I called in and to my surprise I was told I am missing the income statement for my wife and that NO FINANCIAL WORKSHEET has been received. I was taken of the program I was told. I could not believe. I immediately, re-dated all my papers, and faxed my docs again and just so I am sure that the fax went through I went to a local Wells fargo and ask them to verify what I am faxing and had the fax it form their branch office again into Wells fargo.

Our house is part of our son’s medical intervention program and most of our therapies take place in the familiar environment and we have modified the house to meet our son’s special needs. Loosing the house at this stage would be a total blow to many intense efforts that we have undertaken.

This entire process has taken so much energy and most importantly time that I feel I could have dedicated to my son’s needs. The uncertainty despite our best efforts is like an additional pain distracting us from our core duties. We value our relationship to Wells Fargo and I am working and earning the income to carry on my responsibilities towards my family and the Mortgage. I am seeking desperately a solution so we can bring this chapter of Loan Modification behind us.