My late husband Geoffrey and I bought our retirement condo in 1997. Now a widow on disability, I did well with the mortgage for years before being suckered into a bad loan. Too late, I tried to refinance it. Over and over, the bank refused to provide a refinance option, even though my credit rating was in the high 800s. The big banks say their goal is to keep people in their homes, but my experience with Wells Fargo tells me exactly the opposite.
Wells Fargo has shuffled me from one "foreclosure prevention specialist" to another, with each one asking for the same information I'd submitted to the previous one. They told me I hadn't submitted paperwork I know I'd given them time and time again.
They kept me tied up in an endless loan modification process for months, even as they initiated steps to take my home away. At the very last moment, they denied my modification and took steps to auction my home off to the highest bidder.
Thankfully, Congresswoman Lois Capps stepped in to make sure I had enough time to mail in a reinstatement check. I've managed to save my home from the auction block for the time being, but I'm nowhere near out of the woods yet. The simple fact is that this won't be sustainable unless Wells Fargo grants me a reasonable modification.
The so-called “loan modification” people at Wells Fargo have me limp as a rabbit in a wildcat’s mouth, shaking out my strength, savings, time, and resolve, while their foreclosure attorneys declare another victory for the one percent.
It's my hope that the 99% will stand with me, and help me to save my home.