This is a story about how a disabled man was treated by Wells Fargo Home Mortgage, a division of Wells Fargo Bank N.A. DBA Premiere Asset Service.
I along with a friend applied for loan modification help
from NACA (Neighborhood Assistance
Corporation of America) in 2012 due to worsening hardship. My illness (CIDP)
had started to deteriorate and I was forced to stop working instead I received
disability, a dramatic decrease in income. We received from Wells Fargo
Home Mortgage via NACA; a deal that would reduce the principal and give the
rate of 2 percent. This was recorded on the NACA website and was inputted by
someone from Wells Fargo Home Mortgage.
NACA Website STATUS:
File Submitted – Servicer has submitted a proposal - NACA Restructure (Proposal
Date: 09/12/12)
Below is the proposal from your Servicer.
Servicer Proposal Information
Type: NACA Restructure Term: Remaining Term
PITI: 1,686 PI: 1,261 Taxes: 400 Insurance: 25
HOA: 0 PMI: 0 Term: 282 Rate: 2.00%
Principal: 395,285 Value:
Delinquent Interest: 0 Late Fees: 0 Late Penalties:
0 Unpaid Escrows: 0
When the deal finally was presented to us it was for the
full amount of our remaining balance of our mortgage loan plus a second
mortgage added. The percentage rate was two percent for five years and then
increased thereafter. This was not what they had posted on the NACA website. (See
above). We even confirmed with a
Wells Fargo Home Mortgage employee
(named Valeria on 9/17/2012 at 12:30pm PST) that the NACA information
was correct before the finally deal came through. For your information NACA is
a non-profit, community advocacy organization that works to save
individuals their homes. The banks including Wells Fargo Home Mortgage
agreed to assist NACA in this endeavor. So why would Wells Fargo Home Mortgage
submitted a proposal via NACA website only to renege on in the final agreement?
I was told several times by Wells Fargo Home Mortgage
employees that this was now the final deal and therefore we needed to accept
it. We protested to Wells Fargo Home Mortgage and NACA to no avail. With the
fear of loosing our home we felt pressured to accept the final offer.
On 9/22/2014 Wells Fargo Home Mortgage informed us that the
agreement we had entered into with them had a problem. A Wells Fargo Home
Mortgage internal account review highlighted several important pieces of information
that were missing regarding our repayment requirements for our mortgage loan
modification. This important information had been left out of the agreement by Wells
Fargo Home Mortgage, which they and us had signed.
We wondered if the missing information made the agreement
possibly null and void, or at least a chance to renegotiate. That being said
Wells Fargo Home Mortgage didn’t keep to their original written agreement
posted on the NACA website which we agreed upon prior to the time of signing.
We have tried since 2012 to talk to NACA and Wells Fargo Home Mortgage
regarding Wells Fargo Home Mortgage dishonesty and mistake of the missing
information on the final agreement only to get a brick wall response.
It looks like we will be homeless in the near future; as our
financial circumstance will be changing and we will not be able pay the
increase. How can the people at Wells Fargo Home Mortgage be so dishonest when
they knew the facts of the problems we were and are facing.
For more information or questions please contact us at earno@sbcglobal.net
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