LAKE MARY, FLORIDA -- Four years ago my wife and bought our first home together. We got a good interest rate and bought at just the right time. In September of 2008 my wife (Title Agent-Realtor) lost her job. We contacted Wells Fargo to inform them of our situation. We got two payments behind on our home mortgage and were instructed by a Wells Fargo agent to do as follows. Before they could help us we were instructed to ruin our credit. In doing so we would qualify for a LOAN MODIFICATION. We did and were told we did not qualify. The reason was, (GET THIS) we don't have enough income to qualify for help. That makes ZERO SENSE. If we made more money we wouldn't need help from our lender.
My wife has been in contact with Wells Fargo, working with them, jumping through their hoops to resolve our dilemma. She called them again in late January to find out if we qualified for any type of assistance. They told us that we did qualify and that we needed to pay a payment that day to stay in good standings with them. We never received a thing from them saying we qualified. They never called to tell us we qualified. They have been extremely rude and "as a matter of fact" on the phone with us.
We payed that day online to stay in good standings. We have been on their assistance for three months, never been late, we've done exactly what they've asked. Now once again we don't qualify for their help because we don't have enough income! "What about government help",my wife asks the agent on the phone. Because our loan documents say Jenny May we don't qualify for government assistance. If it said Fanny or Freddy May we would be able to save our home. Jenny May is a government funded program, but because the name is different we don't qualify for help to save our home.
Wells Fargo would rather loose hundreds of thousands of dollars than put $7000.00 on the end of our loan. We loose our home over that.
It makes me sick that they are not going to work with us. They want to foreclose and take our home, they are rude and unwilling to work with the American people.