Thursday, March 4, 2010

LEARN FROM THIS HOMEOWNERS NASTY EXPERIENCE!

WELLS OVERWHELMED? I DON'T THINK SO...
WELLS USING ECONOMY TO MAKE EVEN MORE MONEY?
YES. A TRILLION DOLLAR MACHINE DOES LESS, MAKES MORE.


WAITING ON WELLS FARGO....FOR MONTHS
EVEN THE PRESIDENTIAL COMMUNICATIONS OFFICE
IS SNEAKY SLOW -- FAX THOSE DOCS AGAIN...

Hi Kelly, I can give you the sort of shortened story about us. We have been married and living in XXXXXX, CA for the last 10 years. We saved and lived a pretty modest but comfortable lifestyle. We purchased our home XX years ago with a fixed 30 year mortgage at around 6% and a few years ago took out a second to do house upgrades. When the housing pricing went up we took out more money as a loan to the business (it was booming and they needed cash flow) and each installment of money was easily approved over the phone with nothing but a "local comps" request from the loan rep! I believe the rate was 8% adjustable and after 3 years it would go up. At the time, things were looking so good we felt that the $200K pulled out would definitely get paid by the time the 3 year period would come up.

Unfortunately, what once was a blossoming industry for my husband was dying a quick death. Lack of sales at the car lots means no sales of aftermarket equipment. Dealerships were closing all around us in Southern California, paired with some bad luck we have been just fighting to stay afloat and stay in our home. Thinking this was a temporary lull in the economy we pulled out all of our retirement accounts to stay afloat and racked up some credit card debt. Because of literally more than 1/2 of my husband's income cut we were scraping to keep up with the payments. Well, things didn't turn around. The sales got worse.

In XXXXber 2008, we were advised from Wells Fargo that we wouldn't be considered for a loan modification until we fell behind. (We always had 800+ credit scores and A+ credit). So, we stopped paying that month. In January the letters started coming as well as the phone calls from their debt collectors. We told them our financials and we got a letter saying that "you don't qualify for a loan modification but you qualify for these 3 options.....1. A forbearance plan 2. A short sell 3. Turn in your keys. We opted to keep fighting to keep our home and keep trying to get a loan modification. We asked for a re-evaluation on the numbers and again we were not "qualified". We felt we clearly did qualify. We even spoke to HOPE NOW and got NO WHERE! We didn't even get credit counseling. What we got was someone who asked us all our expenses and they put the numbers in their system and then they asked for our debts and typed the information down. She never had a final suggestion on what to do. We felt HOPELESS working with them.

XXX referred by a friend and her fee was a mere $1K to hire versus the $2500+ fees we kept hearing about for people that "help" you with loan modifications. We decided to hire her because she had a good pitch on being able to help us get loan mod and she also helped fine tune our financials so they made more sense and so we could qualify. She ONLY helped us with the financials and faxing the paperwork in. The "hardship letter" that I thought was integral to hiring her was a mere 4 sentences long. She basically did everything I could be doing (AND ENDED UP DOING MYSELF!) and mainly got us a little into the process but not at all what I thought she was hired to do (or promised to do). Fortunately she only had a $500 deposit and mid way through our process (in late August) we decided to not have her represent us because of the lack of follow up and professionalism.

Wells Fargo wrote a letter saying we did qualify for a forbearance plan as of XXXX in the amount of $ XXX per month. This plan was a 3 month plan and after the finish of the plan we could be considered for a permanent loan mod. If I knew what I knew now, I wouldn't have given them a dime. From what I understand (now) we will never see that money! Ever.

We made our 1st payment. We made 2nd payment (and let me be clear, we have let the HELOC go too at this point so we still are only paying on the first) and we made our 3rd payment. Then we started to get foreclosure notices again. We were wondering what the heck was going on being that we just made the July payment and were waiting for a permanent response. In the letter it clearly states that the foreclosure process would be halted while we were in the forbearance plan. Well, the right hand is definitely not talking to the left! And what is crazy is they put the house in official default and the title company was officially letting us know that the process was beginning for them to foreclose on the house.

THIS HOMEOWNER WAS SMART -- SHE DID WHAT ALL HOMEOWNERS MUST DO!!!
I got smart and started calling daily to delay the foreclosure. And if one rep didn't give me the answer I was looking for, I would ask for their supervisor. And if that supervisor wasn't helping me then I would ask for another. I kept going through rep after rep. This is when I started looking up information on HAMP and loan modifications on Google. Worried that we were close to loosing our house (even though we had just made that payment) I looked at all the documented cases people would post on boards like www.livinglies.org and www.loansafe.org to educate myself on what to do and how to deal with the current foreclosure pending on our home. Through my research, I discovered complaint after complaint on www.complaintsboard.com about WFHM and their poor customer follow through. It was amazing to me how many other consumers going through the same run around I was with Wells Fargo and how many were fighting the fight. (....And unfortunately how many lost their homes and also just decided it wasn't worth the fight for various reasons).

Through this process, I discovered the importance of keeping notes of every call I made and keeping every piece of correspondence. It seemed that Wells Fargo definitely was taking the "learn as you go" approach and also delay, delay, delay people so they don't know what side is up. I would write down every reps name and their ID. Well, I wasn't getting anywhere on delaying the foreclosure. So when digging deep into stories on www.loansafe.org another member wrote a list of executives and their email addresses for the Office of the President as well as other WF Board Members.

We received a letter as of September 1, 2009 that we did not qualify for any of the plans and that we would have to start paying back the money due (at this point I believe we had missed almost 9 payments, so the money due was well over $15K). Pissed, tired and frustrated, I got right down to it and I wrote them, all of them on the list I had found a few days before. I wrote about the frustrations of getting nowhere. I wrote about our story. I wrote about how I just want to keep our home and how I want answers. And then I wrote how it seemed like no one at WFHM was willing to help. It seemed odd to me that there was all this money from the government given to the banks to help "recover" the economy but no help to the bottom end line consumer. I was a person on Main Street, part of the reason for the Recovery Incentive and I wasn't getting help. And others weren't getting help too.

I wrote this detailed email on a Wednesday morning after my baby went to sleep, after I just got news that I had a tumor in my thyroid and after trying to figure out some kind of work (so) my husband and I could make money to survive. And amazingly, I heard back from the Office of the President by that SAME afternoon. The response to my complaint letter finally left me feeling accomplished that I was getting somewhere. I worked with a guy named Steve Sidman and he walked through my financials again with me. Asked me to again resubmit our docs (basically re-date everything we sent in the prior April through Kristen) and resubmit our most current pay stub. As expressive as I am, I explained that we have already done this 4 times. And he patiently told me that we should do it one more time because it may pay off (hummmphfff!) We did what he requested and sent it AGAIN via fax to his office and by October we received a letter with HAMP paperwork stating that we qualify and that the first payment for the trial period would be November 1, 2009. We made our modified "trial" payment ($1638 instead of the normal $2360 we were paying before) and it offered some relief. It also reassured us that the program MUST be working. Right?

Not really. We have made our 3 payments as requested: November 1, 2009, December 1, 2009 and January 1, 2010. We then received a letter asking us to resubmit our current pay stubs. We obliged knowing we MUST be at the end of the road. We faxed in all the information on February 2, 2010. I called to confirm that afternoon it was received and they confirmed it was. I was told during the trial period process through my numerous calls to LM (Loss Mitigation) that they would start processing us for the permanent modification immediately after the 3rd payment was received. They said it takes 30-60 days to get an answer.

I called late February to check in on the status and we were still in "review" and that they needed current paycheck stubs again. I felt like this was another delay tactic so I questioned it. I asked them if I could have something in writing that requires them to have stubs or any other documents within the 30 day period. They said they can't send me anything in writing. I called again the next day. Same answer. I felt like this is odd. Why can't they give me something in writing with their request? Why is it that I have to keep submitting and submitting with no real correspondence except to talk to a person (a different one every time for that matter) and get various answers? Why can't they tell me who is working on our loan? Why can't they let me know where we are in the process?

I decided that this "WF delay" tactic isn't working anymore for us. We want a resolution and we want to wrap up our loan so we can sleep soundly because we are stressed to the max about whether or not we will be able to stay here. I left messages as of last Thursday with my Presidential Office contact. As well as with another member of the LM department with no response as of today, Wednesday, March 3, 2010. It doesn't surprise me. We have yet to make the March payment and I won't make that payment until I get in writing the status of our loan. I feel like they have had sufficient information. Our status hasn't changed and it is also clearly stated in our cover letter sent to them on February 2nd. I feel like there is no end in sight again and am just going to continue to play the waiting game.

I am a frustrated consumer and just want advice on the next best steps to take. What is interesting is that I keep reading about loan audits, however, I am not sure if we qualify or not for this since we were signed up and then refinanced for a fix rate on our first.

What is interesting is that our HELOC went into "closed account" status and we were served on December 28, 2009 with Supreme Court Papers and I am wondering if WF is delaying the 1st because of this. Even though they said it's two different departments that work on the 1st loans and the HELOCS, I would imagine that they clearly know the status of both accounts.

I will update you all as this progresses. As for now, we are going to write another letter to the Office of the President as well as the LM department expressing our frustrations of not having an answer.

As for now - the verdict is out if we have success or not.

***Hope this is good for you! Let me know.

Bridget
 
Dear Bridget;

Please get your story to me, with as many details as possible, as soon as you can. This is an exciting time, many, many homeowners are discovering THEY DO NOT NEED TO ENTER INTO A LOAN MODIFICATION because Wells Fargo failed to follow each states land conveyance laws.

And where they did not, they do not legally own the land to which they claim an interest.

So, let's see what you've got...and SAY A PRAYER!!! Hopefully you will have gone through these last few frustrated 15 months for a reason!!! For a blessing, especially for you and your family the only way the good Lord knows how to bring them. Never early, never late. Just in time. And always, sooooooo very much appreciated.

I hope to hear from you soon, Bridget,


Kelly L. Hansen

Recently posted in our blog:

ARE YOU YOUR OWN ATTORNEY?
DID WELLS FARGO ILLEGALLY FORCLOSE AGAINST YOU?
 I'm writing you with exciting news! Victims of Wells Fargo Bank have been e-mailing in, one after another, telling me they are winning foreclosure lawsuits all over the country against Wells
Fargo using
 

DEFENDANTS MOTION TO DISMISS
FOR LACK OF 
SUBJECT MATTER JURISDICTION 
OVER THE CASE

WELLS FARGO VICTIMS HELP EACH OTHER FIGHT
AND WIN
 AGAINST FRAUDULENT WELLS FARGO BANK
ONE BITTERSWEET VICTORY AT A TIME

 

By Kelly L. Hansen

WELLS FARGO VICTIMS NOW VICTORIOUS
HAVE A SINGLE GOAL IN MIND...
TO SEE EVERY OTHER VICTIM OF BIG BANK GREED
 REALIZE AMERICAN DREAMS DO STILL COME TRUE.


DO UNTO OTHER'S...
WELLS FARGO'S BAD DEEDS ARE GOING TO BITE THEM IN THE BUTT

 

Property law can different widely in each state. Wells Fargo Bank is subject to class action penalties in all states where they have not followed land conveyance statutes for recording, attaching, and perfecting a lien on the title of any parcel of real property upon which they have foreclosed.

First, when you received your Petition to Foreclose, did the Plaintiff's name match the name on your copy or the original Note provided to you after the final page of the Petition? ONLY THE OWNER OF THE NOTE CAN BRING A FORECLOSURE ACTION. Not a servicer. Not an assignee. Not anyone who has "stepped into the shoes of the first note holder." When an original Note is purchased the OWNER MUST register with the Register of Deeds Office in the County where the property is located.

If your original Note is purchased by another bank or mortgage company, if they fail to file a Satisfaction of Mortgage and you have asked them to do so in writing, they are subject to money damages in most states (amounts vary according to state) if they do not comply with your request within 20 days.

If Wells Fargo Bank never filed a lien against your Note with your County Register of Deeds Office they have not fulfilled their requirement to file, secure, attach, and perfect a lien against your property AND THEY DO NOT HAVE ANY LEGAL INTEREST IN YOUR REAL PROPERTY.
 

IF YOU ARE THREATENED WITH A FORECLOSURE:    Have a title search done on your property. A licensed and bonded title expert will search your title for mistakes that will stop the Plaintiff's foreclosure in it's tracks. All assignments must be witnessed, signed, notarized, dated the same date, some states require a corporate seal, etc. It really is a detailed process. Mistakes are made everywhere. They are just waiting to be discovered in your Title ... they will stop WELLS FARGO BANK!

An Update From A Previous Rhode Island Victim!
I had a title search done and it was interesting to see what was found on it. RI General Laws state that in order for an assignment here to be legal, it has to be dually noted. On my assignment, there is a signature with a date of 10/31/06 and it was notarized on 11/08/06. It is Null and Void! Now I need to go into the courthouse and request a Declaratory Judgment but first, I am filing a Lis Pendens.

Kelly L. Hansen,esq (expect success quickly!)
ON FIRE Vigilante!
Changing WFHM Victims to VICTORIES!
33605 W. 88th Street
De Soto, KS 66018
913-220-1284 Phone
913-273-1448 Fax
ctsmyhon@yahoo.com
http://wfhmcaught.blogspot.com/

  "When injustice becomes law, resistance becomes duty"
-Thomas Jefferson

Kelly L. Hansen,esq (expect success quickly!)
ON FIRE Vigilante!
Changing WFHM Victims to VICTORIES!
33605 W. 88th Street
De Soto, KS 66018
913-220-1284 Phone
913-273-1448 Fax
ctsmyhon@yahoo.com
http://wfhmcaught.blogspot.com/
--------------------------------------------------------------------------------
From: Bridget Smith
To: "ctsmyhon@yahoo.com"
Sent: Wed, March 3, 2010 1:45:38 PM
Subject: Can't even tell you


What a relief it is to see your blog and that people are starting to figure this out. We have been on the wait and see if we get a permanent loan mod with Wells Fargo for 15 months. We are frustrated, tired and just are wanting to give up. We know we can't, we want to fight for our home. I have a long drawn out story and am not sure where to submit it with you. I think it will help people to share.

So far we see no end in sight. We are in the post-HAMP trial period. This month would make our second payment post the trial (making it the 5th "new" payment) but we are stuck in the world of "update your paycheck stubs every 30 days horse crap). I want answers and that is the only answer we get.

I can't wait to read up on your blog now. Please let me know where I should submit our story. We are a young family with 4 kids. We live in Corona, CA and just want to keep our home and get to some kind of permanent mod so we can breathe.

Thanks for your time!

Bridget

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