The End

So after receiving daily calls from Wells’s dialer, after specifically stating I did not want them to call, I finally answered the other day. The woman who connected told me, again, that I could begin submitting my paperwork for a loan modification. After i explained again to her that NOTHING HAD CHANGED and that Troy, many conversations ago, had told me the paperwork I had submitted and several people verified was on file, was good until mid December, I asked her to put me back into consideration for a modification. She said she could not. I ended the conversation, again specifically telling her to take my name off the automated dialing list.

I then called the short sale/deed in lieu of foreclosure department and talked with a woman who told me to SUBMIT THE SAME DOCUMENTATION THAT WE HAVE BEEN GOING AROUND AND AROUND ABOUT FOR THREE MONTHS NOW. She also informed me that, in order to do a deed in lieu of foreclosure there could not be a second lien on the house. There is. Game over.

Wells Gets Agressive

After I told Tamika I did not want any more calls from Wells Fargo’s automated dialer, I received two calls yesterday from Wells Fargo’s automated dialer at 1:57 p.m. and 8:38 p.m.

I also received a letter from Wells telling me that my loan modification had been denied because I had not complied with their documentation request in a timely fashion. Again, I could not comply as the request was sent to the wrong address and I did not get it until after the deadline had passed. The letter says there is additional help available, and that:

“we’d also like to hear from you if any of your circumstances have changed or if you can provide us with additional information for consideration.” Signed, Ben Windust.

Mr. Windust:

MY CIRCUMSTANCES HAVE NOT, AND ARE NOT GOING TO CHANGE IN THE FORESEEABLE FUTURE. THE REASON I ASKED FOR A LOAN MODIFICATION IS THAT I CANNOT AFFORD THE MORTGAGE PAYMENT WITHOUT MY WIFE’S INCOME IN THE HOUSEHOLD. MY INCOME AND EXPENSES ARE THE SAME. I AM TRYING EVERYTHING I KNOW TO REDUCE EXPENSES, THE SIMPLE FACT IS THAT I CANNOT SUPPORT THE PAYMENT ON MY OWN. YOU HAVE REJECTED MY LOAN MODIFICATION BECAUSE I DID NOT COMPLY WITH A DOCUMENT REQUEST THAT YOU SENT TO THE WRONG ADDRESS. HAD I SENT YOU THAT DOCUMENTATION, IT WOULD HAVE INDICATED THE EXACT SAME CIRCUMSTANCES I HAVE DOCUMENTED FOR YOU TIME AND AGAIN.

I am throrughly convinved Wells Fargo has spent innumerable hours of my time and theirs stalling me, although I cannot imagine why. As the house has had exactly two showings and no interest, a short sale looks very unlikely. Even if Wells were to agree to one, there are no buyers.

In an attempt not to be completely financially ruined, I am going to file a HEMAP application when I go to counseling Monday and i suppose I need to begin consdering a deed in lieu of foreclsosure. For the first time, the reality of the possibility of having to file bankruptcy hits like a ton of bricks. As of a fraction over three months ago, my credit history was outstanding.

Email to Mark C. Oman, Head of Wells Fargo Home Mortgage

Mr. Oman-

I’ve been attempting to work with Wells Fargo to see if there was any way to stay in my home. I am not HAMP eligible because the loan was made after 1/1/2009. Until missing my mortgage payment September 1 because of the loss of my wife’s income because of divorce, I had never missed a payment on anything.

Please go here (or have someone do so, I know you are very busy) http://jkb0808.wordpress.com/ for a detailed account of what’s happened with my interactions with your company. I could certainly submit my information again, but nothing has changed, nor will it until the mortgage resolves one way or the other. My income is the only income that can be used to modify the loan, my hardship is as stated above, and my expenses are and will be the same as submitted to you and verified verbally by me numerous times.

The house has been on the market for several weeks, is underwater, and has had exactly two showings, with zero follow up interest from people who have seen it.

Please advise whether there is some way to move forward together, or whether Wells Fargo will respectfully honor my request for a deed in lieu of foreclosure.

Best Regards,

Jeffrey K. Baldwin

Loan Mod Cancelled

I received another call yesterday from 612-312-8585 at 4:22p.m. Knowing exactly how this return call would go, I did my best to calm myself. I called the number, and after verifying all the same questions I’ve verified each and every time I’ve talked to Wells, I got Tamika on the line. She verified what I suspected to be true, after all the time and effort spent on trying to get Wells to help, my loan modifcation request was cancelled because I did not comply with Nancy Rivera’s request for documents even though the letter was sent to my ex-wife’s address and I did not get it until the time for submission had passed. Tamika said I could resubmit all the exact same information I’ve submitted and verified numerous times and we could start the loan modification process again, even though Troy a few calls ago told me my documents were good until the middle of December. Apparently not. I have no idea what to do.

I have a housing counseling appointment with another housing counseling agency on December 6, I think I may just wait to see what they recommend.

I am less convinced today that I will get any help from Wells than I’ve been at any time in this process. I asked them to take me off their dialer and told them they could have a human being contact me any time.

Reveal

I know how credit scores and mortgage loss mitigation work because I am the Counseling Director for a large nonprofit HUD approved housing and credit counseling agency. I am repsonsible for the counseling efforts of over 40 counselors whose job it is to help people save thier homes. This knowledge and expertise has gotten me exactly nowhere with Wells Fargo.

Credit Rating

Bank of America, Discover Card and Chase have all notified me they are severely lowering my credit limits due to mortgage delinquency. This will lower my credit score further than just having mortgage delinquency would, as the amount of balance you carry as a total proportion of your credit limits, called credit utilization, is approximately 30% of your credit score. See the next post to find out how I know this.

Insult to Injury

Also, I recieved a notice of escrow shortage from Wells, stating my mortgage payment was going from $2162.74 per month to $2254.06 per month starting 1/1/2011. As I’ve been told repeatedly by Wells not to send partial payments, I guess I will fall further behind from a dollar standpoint as of 1/1/2011.

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