James and I relocated from Nebraska to Georgia in September 2009 and renting, due to Wells-Fargo foreclosing on our house we had paid the mortgage on time every month from the time we moved in, 3 years prior.
We were with a small brokerage company who also lent money to their clients, however each year they changed their company name (I still do not understand the reason behind this) and we were encouraged to restructure our loan to receive some equity money to make the improvements. The last name change Wells Fargo who bought our mortgage and raised our mortage payments. Not to mention that in the 2nd loan modification the price of the house had been doubled due to the "reappraisal" Wells Fargo did and that became our current amount owed instead of the orginal loan we had before the bank shut down and Wells Fargo took over.
We applied twice for a loan modification...the first time we were turned down for not being in the house long enough...and we had paid nearly $1,000 month for 3 years, having the house paid almost 1/2 off on the principal loan the second time we applied for loan modification.
We paid each month on time for the year up until January 2009 when Werners whom James was working as dedicated driver from Omaha to Westbranch, Iowa 5 days per week suddenly and without warning did not have a load for him. This lasted 8 days with out work and James got very nervous and decided to quickly look for another company as he was also told that whereby Werners use to pay their driver $60 per day when it was their fault not having any loads changed it to $20 per day - this was not going to pay the mortage.
At this stage we were not late with our payment but James took the responsible action and called Wells-Fargo and explained the situation whereby they told him to write a 'hardship letter' and supply proof of earnings etc. He did this and went to the nearest Wells-Fargo branch and faxed the paperwork then put in a phone call to make sure they got it. The woman told him to follow up each week, which he did. He did not get to talk to the same person twice. !
James was accepted with Universe Trucking and started almost immediately and resigned from Werners in good standing.
Our mortgage was due and we did not have enough so it did not go through as payday had not arrived for James new job. As soon as he got pay he personally went into Wells-Fargo to give them our payment which was before the end of the month and still not overdue. They would not accept his payment unless he posted it by check, which would make our payment late to post to another State taking up to 5 business days!!
We went to our broker to discuss with them if they had any advice to offer and the lady there called Wells-Fargo for us and also for his weekly call and discovered they did not have his paperwork and no one knew he had been calling so after a lot of run-arounds their end and giving the brokerage our permission to talk about our mortgage, Wells Fargo said we needed to resubmit the hardship letter and earnings etc. again. We had to drive 20 miles back home to get the paperwork and come back to Omaha to resend it.
Wells-Fargo would not accept one month payment now and wanted the past due as we were now behind - we did not have it at this precise time and was about a week late. They had already 'dinged' our credit for late payment.
The next step they told us to do was stop payment for 3 months for mortgage adjustment and if accepted they would roll the late payments to the back of the mortgage. We were declined so now we are 4 months in arrears and they are now
wanting the whole loan paid back - who has money to do this?? all our paper-work submitted for extension got lost their end etc which was just a nightmare and
extensive and exhaustive calling, emailing to try and get assistance was all to no avail.
We were advised to contact the state governor, where he said to contact Ben Nelson the State Senator and he said he could do nothing as Wells Fargo was a Federal bank and not held to the same standards as local banks. He suggested contacting the comptroller of currency in Washington DC, which James did and filed a complaint, to which wells fargo reconsidered approving a loan modification.
We tried to get advice from lawyers, however as we do not have credit-card debt they could not help us as the lawyers and intercede for us, they only did bankruptcies or credit card debt. Although they suggested we do not pay back the money owed as even if we did Wells Fargo were going to foreclose anyways because that is their policy!...
We even tried another avenue as we found out that our property had prevously been a car junk yard and the ground was polluted by gas, (petrol, benzine) oil, anti-freeze etc plus the tons and tons of glass, bolts, nuts, metal, car wiring,car parts been buried on the property and rose up everytime it rained and came to the surface we collected up and put into 44 gallon drums to take to the dump. No one could help us here either!
Resources in this country are very hard to find and you can spend hours on the phone being shuttled from one extension to another with many dropped calls in between if you are luckily enough to talk to a live voice, otherwise you get the long menu to listen to and voice activated calls to leave a message and if you are luckily they may reply.. Most of them never called back !!
We finally had to just give up in heartache as we could not see any other way of keeping our house and were given to the end of Sept to move, so we moved in early Sept so we would not have the sherrif come and lock us out. - When we moved to Georgia we started receiving letters from Wells-Fargo that we could keep the house by submitting the same paper trail we already submitted twice
This was like a knife turning into our wounds - Wells Fargo and other of these banks mis-managed so badly AND Wells Fargo being one of the many banks whom received a 'BAIL OUT' when they got into trouble yet could not help us and many other people whom have gone into foreclosure too.
No matter what we did they were going to foreclose on us....and even after we moved to Ga they said we could do a HUD program to stay in the house but only as renters
We are presently living in a 3 bedroom moble home on about 13 acreas.
We have the option to rent to buy the land and put on home at the end of our year, as this mobile home is pretty old and not worth anything, we are not sure what we are doing at present as our land lords have not given us a price as guidence. As we moved in September I would like to have a goal to work towards than waiting until autumn to move again if the price is not satisfactory. The area around the house has tons of trash from several trailers that use to be on the property before taken off and left from previous tenents and I do not want to clean it all out paying for equipment to move it and not be worth while.
James and Amanda Shaver ©
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