Help! So freaked out

[savannah]

Why are they doing this? I got behind (less than 60 days) on my mortgage payment and decided to call them to see if there were any options as far as rearranging payments or changing payment amounts to get caught back up. They basically said that I needed to apply for some sort of modification program, and wanted all my current financials. Once they told me that the modification can take several months, I told them that I thought I would be fine getting caught up on my home. I didn't give them my financial information, because I didn't see the point.

 

From that point on, they refused to make any payment arrangements with me (I have to pay instantly over the phone and pay their payment fee or at a bank branch) and they call me all the time asking me to update the financial information. I keep telling them I don't want a modification, but they keep insisting I "update" my information anyway.

 

Just a few minutes ago, a girl showed up at my house IN PERSON and ran my doorbell (8 p.m. on a Friday night???) and took down a telephone number from me and handed me an envelope. I opened the envelope and all it is is loan modification phone numbers and a brochure for possible help from Wells Fargo. WHY ARE THEY DOING THIS? And how can I get them to stop? I am still one payment behind, but by the end of this month will not be.

 

Thanks and sorry for the long story.

[researchnerd]

My guess is, they gave you info in person so they have proof that you received it. It may be a requirement for them to participate in a govt program, or it may just be a CYA so that if a foreclosure happens sometime in the future, they can say they gave you every opportunity to modify it and you chose not to.

 

Is there a downside to applying for loan modification? I know you feel like you can get caught up, and that you don't want to give them any more info than absolutely necessary. But if there's a way they could lower your payments and make things easier, I don't see why you wouldn't do it.

[Cactus Flower]

Seems to me that WF is in trouble for NOT working with people ...

 

I think they are being "looked at" and so they are doing CYA.

[savannah]

Seems to me that WF is in trouble for NOT working with people ...

 

I think they are being "looked at" and so they are doing CYA.

 

I see. Thanks to you both for the information. Scary to have someone coming to your house unannounced and uninvited that way. I have one payment to make to be caught up and am literally getting phone calls and mail every single day from them where they are telling me to contact them about options. I am making the payment tomorrow and hopefully they will leave me alone after that.

 

I am selling my house (closing date of 11/17) so it didn't seem like a good idea to have things in limbo with a sale on the forecast. I didn't tell them I intend to sell though because I was worried about what they would do.

 

I do think that Wells Fargo is one of the most evil corporations in existence, based on my experiences with them as a bank, loan and credit card customer. I hope to cut all ties soon after the sale.

 

Thanks again.

[researchnerd]

I am selling my house (closing date of 11/17) so it didn't seem like a good idea to have things in limbo with a sale on the forecast. I didn't tell them I intend to sell though because I was worried about what they would do.

 

Ah...that makes perfect sense! If you will be caught up and are selling the house soon...I wouldn't bother negotiating anything with them either. They don't need to know about that yet.

[mtginspector]

I do inspections for mortgage companies, including Wells Fargo. If you are late on your payment we go to your house, drop off paperwork telling you to call your mortgage company and get an updated phone number. We also take at least three pictures of your house, more if its in rough shape. I inspect homes that are either late, in bankruptcy, foreclosed, vacant, etc. Each inspection should take less than three minutes because we are independent contractors and paid per inspection and do at least ten per hour. It's actually a great job and I've seen people turn their circumstances around, which makes me very happy. Let me know if you have more questions.