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.

Uncategorized

December 17, 2010

Leave a comment

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.

Uncategorized

December 3, 2010

Leave a comment

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) https://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

Uncategorized

December 2, 2010

1 Comment

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.

Uncategorized

December 2, 2010

Leave a comment

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.

Uncategorized

December 1, 2010

Leave a comment

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.

Uncategorized

December 1, 2010

Leave a comment

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.

Uncategorized

December 1, 2010

Leave a comment

More Good News From Wells

Nancy Rivera has not bothered to return my call to advise me as to how I should proceed since Wells Fago’s most recent impossible-to-comply-with documentation request. Since it said my modification request would be cancelled if I did not comply, and it was physically impossible for me to do so, we are back to square one. I am guessing this because the autodialer calls have started again. I received one from 612-312-8585 at 9:40 a.m. on 11/29 and another from 866-228-3535 at 9:02 a.m. 11/30. As I’ve told Wells many, many times what my situation is and it has not changed, I am not sure what good returning these calls would do at this point.

Uncategorized

December 1, 2010

Leave a comment

Voice Mail to Nancy

The letter Troy referenced in our weekly call last week was in fact dated November 11. It was sent to Erica at her address for some reason but referenced the correct loan number for the property address in question, which I’ve verified each and every time I’ve talked to Wells. Why in the world they would send a letter anywhere but the property address on the loan is anyone’s guess. Unless, of course they want to make sure we don’t have time to comply with their requests. And it just so happens that the letter does say if we don’t comply in ten days our modification request will be cancelled. As I received this yesterday from Erica, you’ll probably agree we will need a time machine of some sort to comply.

The letter requests, from both Erica and I, a financial worksheet (we have been through this many times, Erica’s finances are not germane to the modificaiton request, she cannot make any payment on the loan) which I’ve provided numerous times. They want proof of income, which I’ve also provided many times. They want a profit and loss statment if we were self employed, we were not. They want, most incredibly, a hardhsip explanation. Apparently no one at Wells can understand that we are getting divorced and that is why I am in this position, I need to tell them each and every time.

I left a message on Nancy Rivera’s voice mail letting her know all this.

I am beginning to get pissed.

Uncategorized

November 24, 2010

Leave a comment

Round and Round

I called 800-416-1472 and talked to Troy. After asking me again what my hardship was and me telling him it was, is and will be a divorce as I’ve stated each and every time I’ve had a conversation with anyone from Wells, Troy told me my loan modification request was in “early review” status. He said a letter had been sent 11/11 asking me for a financial worksheet (I told him I had verbally gone over my income and expenses twice and sent a written worksheet 10/18), a profit and loss statement (I advised him I was not self employed as the paystubs I’d sent and Wells verified they’ve received would inidcate, he really did not know why they would be requesting a P&L) and a hardship letter, among possible other documentation. I told Troy they had a record of my hardship both verbally and in writing at least six times now.

Troy verified that my financials were in fact received 10/18 and “were good until mid December, but it might be better to update them every 30 days.” As I’m not sure what he means and there may be another written request in the mail asking for them, I moved on.

I advised Troy I had received an Act 91 Notice that Wells intended to proceed with foreclosure. In Pennsylvania, Act 91 gives a person the right to seek housing counseling within 33 days of the postmark on the letter, and for the foreclosure not to proceed until this time is elapsed. As there was no postmark on the envelope, I guess I’ll need to start counting from the date of the letter.

Troy also said Nancy Rivera’s contact information was now on the account, her # is 877-242-4017 x19427.

Troy also said I should call the short sale department at 866-903-1053 to talk to them about options.

Troy told me that he thought some sort of decision should be made on my modification by the end of November, and that clearly I had done everything they had asked thus far.

Uncategorized

November 16, 2010

Leave a comment