I have been trying to get a loan modification from Wells Fargo for a year now. They keep denying me, but cannot tell me why and never send me any paperwork to make things official. I told them I would put the property on the market, but they are saying I will be responsible for the remainder of the loan. My mortgage is 158,000, but is underwater for 79,000. Right now. Does anyone know of any programs or things that I can do? Any advice would be appreciated because I am so stressed about this place it is making me sick. F*** being an homeowner it is not my American dream anymore! LOL

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Me too. I was being fast when I graduated from college and went an brought because I was smelling myself and my mom was treating me like her little slave. So I bounced. I should have rented. I was too young to be tied to something so permanent. I love my location of my condo, but I want to move. I have lived in Dc all my life. I am ready for a change, but I fell so trapped here because of this place that I cannot get rid of! Ugh I been telling all my folks don't buy even if it is a buyers’ market.


University of Smitty said:

LOL....that was a good one

 

I'm with Well Fargo, too.  I dont have a problem with the terms of my loan or anything, I just HATE being a homeowner. 
Ms. BoiBye said:

 Exactly, this is why I am so confused. I never signed anything or agreed to anything over the phone either. But then she said so in order to complete the process I will need your routing and acct number. I was like I have been a victim of identity theft so I am not going to allow you to direct deposit form my acct. Until you can provide me with something in writing. she says oh ok would you like to drop out of the program because we can bill you for the 3,000. I say what program? she said the loan modification that you accepted. I said I never received anything in writing to accept anything. she says your first payment was an automatic acceptance. I said ok well so my non payment should tell you I declined and I hung up. Don't call me on my job with no tricky b*******!!!!! I hate when ppl try and fast talk me

JustMe said:

I don't see how it's legal for someone to expect you to start paying on something w/out putting it in writing ... 
Y'all are scaring me cause ive just officially started the home buying process....jeez

Nothing wrong with owning a home. It's the terms of the loan agreement that's the problem. There is no regulation and the govt at the time had no policy in place to protect the consumer.  Housing prices dropped as well for current home owners.

Bush fell asleep at the wheel and the financial cronies profited from the bandoogle loan policies.

@Allynwonderland, just do your homework and enusure the mortgage terms and conditions are in your favour.  Don't just take the one they give you, tell them to put all your options on the table for your mortgage, including the interest rate which is always negotiable.

It's a pain in the azz

AllyNWonderland said:

Y'all are scaring me cause ive just officially started the home buying process....jeez

not being funny but you're screwed..When I got hurt at the gig the ex didnt do her thing by paying the bills.tried to modify and was going to but they kept me in the ringer for 2-3 yrs. After them dicking me around i said eff it n short sold it. Basically banks are gonna screw you so dont worry

my new place im buying straight cash.i'll never have a mortgage again. My friend owns hundreds of properties and he pays cash for every last one. he's teaching how to get that early

Awww Blackfu these are the nicest words you have ever said to me J But yeah, that is how I feel, LOL. I am not taking their automatic add the payment to the back end modification without any paperwork. I really think they are trying to do some sheisty s*** to me. Like where is my paperwork and the new term to my loan. So I am going to just talk to the finance dept and have them put me on a payment plan to pay off the 3,000. I owe. I think they keep looking at my age and race and just assume i am a dummy, but this not proper procedure! I also spoke to a program called Operation Hope that said they will try and help me figure out what they can do.

 So once you did the short sale, were you responsible for the remaining amount of the loan?

blackfujones said:

my new place im buying straight cash.i'll never have a mortgage again. My friend owns hundreds of properties and he pays cash for every last one. he's teaching how to get that early

nope..made the ex -wife pay it for not suing her for the money she stole.

Ms. BoiBye said:

Awww Blackfu these are the nicest words you have ever said to me J But yeah, that is how I feel, LOL. I am not taking their automatic add the payment to the back end modification without any paperwork. I really think they are trying to do some sheisty s*** to me. Like where is my paperwork and the new term to my loan. So I am going to just talk to the finance dept and have them put me on a payment plan to pay off the 3,000. I owe. I think they keep looking at my age and race and just assume i am a dummy, but this not proper procedure! I also spoke to a program called Operation Hope that said they will try and help me figure out what they can do.

 So once you did the short sale, were you responsible for the remaining amount of the loan?

blackfujones said:

my new place im buying straight cash.i'll never have a mortgage again. My friend owns hundreds of properties and he pays cash for every last one. he's teaching how to get that early

pending on hwere i live.if i cant pay cash for a place ill rent for the rest of my life.seems like owning a home is a liability

I feel you on that one. It is alway something breaking or needing to upgraded. So I am constantly putting money into something that is not really an investment. I think i may see if I can rent to section 8, but don't want my neighboors to hate me like we do the section 8 tentant we have in the bldg now.

blackfujones said:

pending on hwere i live.if i cant pay cash for a place ill rent for the rest of my life.seems like owning a home is a liability

Damn yall hate Wells don't yall...lol. I'm kinda afraid to say I used to be a loan modifier for them; I worked there 2 years, and just recently quit within past 6 mos, so I am up on ish... Is your loan a conventional or fha loan, also do u know who ur investor is ms.boibye?? From there, I can may be able to give u some guidance. They are not a bad company yall... It's just that we have strict guidelines to go by per govt discresion (sp)??

foreclosing works !! Its not a good thing for your credit but it works! It gets their attention.

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