Servicer Contact Options
Online Portal: Request Assistance Online
Website: wellsfargo.com | COVID-19 resources and support
Additional Resources: Answers to frequently asked mortgage and home equity questions
From Servicer Website
Answers to frequently asked Mortgage and Home Equity questions
Make your Mortgage Payments from Home – If you’re able, please continue making payments through online banking. This is a safe and secure way to submit your payments.
Payment Assistance – If you’re experiencing hardship due to COVID-19 and are unable to make your regular mortgage or home equity payments, we can help with a short-term payment suspension.
We can provide an immediate 3-month payment suspension on your account. During this payment suspension:
- We won’t charge late fees.
- We won’t report past-due status to consumer reporting agencies.
At the end of the initial 3-month suspension, if you need more time, you have the option to request an additional 3-month suspension for a total of 6 months. The payment suspension may be shortened by you at any time. You will also need to cancel or suspend any automatic recurring payments you may have set up for your account.
Request Mortgage Payment Suspension:
- If you have Wells Fargo online banking, log in to your account and select the mortgage payment assistance alert for your mortgage account.
- Watch this helpful video on how to complete your payment assistance request
- We will send you a letter via US mail within 7-10 days that will detail all the information for your specific loan.
- If you don’t have Wells Fargo online banking, please contact us at 1-800-219-9739. We are experiencing extremely high call volume resulting in long wait times, we apologize for the inconvenience.
Request Home Equity Payment Suspension
- Request a 3-month payment suspension by emailing us through the secure Message Center in online banking. We’ll respond to you in writing via U.S. mail within 7-10 days.
Email received by a homeowner from Wells Fargo
We know that this is a challenging time as you work to protect what matters most: your health and the health and safety of the people you care for. You let us know about the financial hardship you’re facing. We want you to know that we’re here to help.
You may not know how you’ll be affected by the spread of coronavirus (COVID-19), so we want to help by providing you with time to assess your situation. For this reason, we’re providing the following short-term payment suspension for your account.
Your short-term payment suspension (forbearance)
This payment relief is an immediate payment suspension — a temporary pause of your loan payments for an initial three months. Unless you receive further relief, you’ll need to resume your regular mortgage payment schedule beginning on July 1, 2020.
During payment suspension:
- We won’t charge late fees or report additional missed payments to the credit bureaus.
- If the account is past-due, we won’t refer the account to foreclosure at this time.
Please contact us if you need assistance but don’t think this short-term payment suspension is right for you.
Note: If you find that you don’t need this short-term payment suspension, please continue to make your normal payments. Take advantage of this payment suspension only when you really need it, because you may need to repay any missed payments at the end of the short-term payment suspension period.
This payment suspension option is based on an incomplete application for assistance. Other payment assistance options may be available. If you would like a review for all available assistance options, you may submit a complete application, which would include information about your income and expenses. This review is available whether or not you accept this short-term payment suspension. Please contact us for more information.
After the payment suspension period ends
If you need more time at the end of your initial three-month payment suspension period, depending on the type of loan you have, you may have the option to extend the payment suspension up to an additional three months, for a total of six months. If you choose to extend your payment suspension period, you will still need to repay all missed payments. When it comes time for you to repay, we’ll review your financial situation and discuss options with you.
Depending on the type of loan you have and your situation, your options may include:
- An additional payment suspension: You may be able to continue the six-month payment suspension for up to an additional six months.
- A lump-sum payment: If you can, you repay the entire amount due at once.
- A repayment plan: We’ll divide the amount due from the amount of missed payments into manageable amounts, spread out over time.
- Payment deferral: We’ll move the amount of the suspended payments to the end of your loan term.
- A loan modification: We may be able to change certain terms of your loan — such as the interest rate or the time allowed for repayments to make payments more manageable. Your modified payment amount is based on your current financial situation and takes any hardship into account.
After the payment suspension period ends, reporting the past-due status to the consumer reporting agencies, late fees, and possible foreclosure activities may begin or resume.
What you need to know about automatic payments
- If you’re making automatic payments from bill pay on Wells Fargo Online® or with any other financial institution, you’ll need to stop them.
- If you have a plan with us to withdraw your mortgage payments directly from your checking or savings account, we’ll stop that for you.
- Once the payment suspension period ends or when you’re able to make payments, you’ll need to set up any automatic payments or plans again.
Ending the payment suspension early
You can end the payment suspension at any time. If you decide to shorten the plan, or if you decide later that this is not the right solution for you, please contact us.
Short-term payment suspension impacts
- If you have an escrow account, we’ll continue to make your tax and insurance payments during this time. However, the suspension of payments may result in a shortage because your escrow account won’t receive ongoing funds.
- You’ll continue to receive statements every 30 days that show an amount due. We’re legally required to do so. The statement will refer to your short-term payment suspension under Important Messages.
- If the loan was modified under the Home Affordable Modification Program (HAMP) or Second Lien Modification Program (2MP) and you don’t make a payment during this time, you could lose the pay-for-performance incentives. This is because you must remain in good standing with HAMP and 2MP.
- If you have a loan modification that offers principal forgiveness that requires you to be current on your loan, you risk losing that benefit. Contact us to discuss your situation.
- If you would like to refinance your current mortgage loan or obtain a new mortgage loan or home equity, the forbearance plan must be resolved in advance.
We’re here to help
If you have questions about the information in this message, please call us at the phone number at the bottom of this email. Thank you.
Note: As we support those impacted by COVID-19, we are experiencing longer than usual call volumes and wait times. We apologize for any inconvenience and ask for your understanding as we work to serve all of our customers. Go to wellsfargo.com/mortgageassist for up-to-date information you may need to manage your account during these challenging times.
If you have forbearance questions and would like to speak to a certified housing counselor, please call the Hope Hotline at 995Hope.org
Please ask questions or report your experience with this servicer below. Your feedback will help other homeowners navigate homeownership preservation options. REMEMBER: Ask for everything in writing to protect yourself against surprises.
I asked for the program via the web site, but then when I tried to pay it wouldn’t even let me.
Hi Mark, Wells Fargo’s current forbearance policy is that all “skipped” payments will be due at once, at the end of the forbearance period. In our research, we are seeing many lenders allowing partial payments. My educated guess would be that they simply do not have a mechanism in place for accepting partial payments without it triggering a bunch of automated unintended consequences.
It’s probably going to be very difficult to get someone on the phone now, but it’s worth reaching out to Wells and try to talk through this with them. If possible, get everything in writing so there are no surprises.
In the meantime, there are no late fees, and your “missed” payments are not being reported to your credit report. Put those partial payments into a savings account for now, and revisit at the end of your forbearance term.
Other advice that we are giving folks is to talk to all of your other debt holders. It will be much easier to recover from deferred payments on your auto, credit cards or other installment loans than it might be to come up with several months of mortgage payments at once.
Please come back if you get more information about making partial payments to Wells Fargo. I’m sure there are many more homeowners out there in a similar situation.
Hope this helps?
I was behind on my payments before covid They offered the the 3 month suspension plan to catch up with the old payments…….now Im told I dont qualify for the deferral cause I was 2 payments behind…..now on forebearance never would of done this….was told customer service made a mistake…..dont they record calls?
Same issue here – very frustrating and now stuck paying 50% more/ month. Kept being told I could defer payment to the back of the loan (or part of it). Would never have done this either and have been in tears all night – they even changed my “trial plan” amount 3 times and it never really started since they upped it by $1,000/ month. Since your comment is from a while ago, were you able to change anything to help?
They did the same thing to us. Now after telling us 3 times we qualified , they are saying we cant do ot. So now I dont know what to do.
@JennK, I am certain there are more like facing this nightmare. I too am finding myself in a pinch with Wells Fargo and am looking for options that protect me, yet it seems the “giant” has all the cards stacked in their favor. I am trying desperately to get the recorded because of certain discrepancies I have noted in their written communications. My last alternative is to pursue this via the Florida State Attorney’s Office. I am wondering if we have a potential class action lawsuit on our hands?
On August 31, our new HUD house through Wells Fargo will be 12 years old. The mortgage was predatory, there wasn’t an appraisal, the house wasn’t even built to minimum required standards! I have been fighting Wells Fargo & HUD for 12 years! We have 20 years left to pay, with a partial HUD claim of $50,000.00, $200,000.00. It has become unlivable. It was Wells Fargo’s responsibility, according to RESPA but HUD won’t help either! BEWARE of Wells Fargo. Now, $5,000.00 was deducted in March, a payment was “applied funds”, then showed as a payment. Since I do not trust Wells Fargo, how do we find out if we were placed on this plan?
How do you get a forbearance removed from your credit ? Or even if you are removed from the program and paid in full will it still always show on your credit?
Great question, from what know now, the “note” that is added to your account stating that your loan is in forbearance due to a national emergency should be removed as soon as the loan is in good standing. There should be no long term credit challenges due to this temporary situation.
Thats a lie. I have been paid up and still on my account…they wonts remove it. I may be out of 3000 dollars now and a lost house. I am fuming.
Lisa, if you would like, please email me more details about your situation to firstname.lastname@example.org. I am very surprised to hear this, actually. You should not be out any money, if a mistake was made, let’s formulate a plan to get it corrected. Another option is you can call 995-Hope (above) and speak with a HUD counselor about your rights.
I want to start this process with Wells Fargo but I am concerned about what Lisa has said. Has her situation been resolved?
Eric, Wells Fargo has been pretty good compared to many other servers on this site. It’s possible that Lisa’s challenges were simply errors that will be corrected. I would not be concerned about Wells putting you in a bad situation. If you are experiencing financial hardship and are at risk of not being able to make your mortgage payments, the CARES Act is there to protect you.
If your mortgage is Federally backed, your options are pretty clear. If not, other than Lisa’s experience, we have not heard of any challenges working with Wells Fargo.
I received a short term forbearance in April of 2021 for 3 months and was fortunate my tenant was able to resume payments in May of 2021 but my credit report reflects my forbearance period was just over in October of 2021 so I can’t get a mortgage loan because it needs to be 12 months from when the forbearance was over. This seems extremely unfair considering I technically just missed 1 of 3 forbearance months and it should have been over on the 3rd month. Why is Wells stating that it was over in October 2021 if I resumed normal payments May of 2021???
Thanks. I appreciate your quick response. It looks like it takes 30 seconds to start the forbearance. Couldn’t be any easier. Also, thanks for setting up this website. I saw you do a video on youtube you did a couple months back and found all of your information solid.
I called Wells Fargo many times, waited for hours, and asked Wells Fargo to remove my account off the suspension list and they wont do it. I have also found out, after reading so many articles about Wells Fargo improper conducts with their customers mortgage account regarding Covid assistance, that Wells Fargo had also placed a forbearance note on my credit despite I I have already made my monthly mortgage payment.
I want to refinance but can not because Wells Fargo wont response to my calls nor cares to address these issues with their customers. I went to the branch and talked to the Wells Mortgage Specialist, he doesn’t know how to help me either. He does not have access to remove the suspension. He can not tell me who or what department within Wells to help me either. I don’t know where else to turn for help. It seemed we are forced to stuck with Wells Fargo. They are taking advantage of their customers. I am a loyal Wells Customers since college days until now. I will withdrawn all my checking, savings, brokerage account, IRA, and take it to another bank. I don’t trust Wells any more.
When is one eligible for a mortgage once they have paid off the owed money of the suspension?
When I called Wells Fargo, they told me immediately. When my mother called, they told her 3 months!
This is a really good question, and unfortunately, there isn’t one answer that covers all scenarios.
As of today, only FHFA and VA have released specific guidance regarding waiting periods after forbearance.
FHFA (Fannie Mae & Freddie Mac Conventional) do not have a waiting period if the skipped payments during forbearance are paid in full before the application of the new loan. If you skipped payments and deferred those skipped payments, or you are on a repayment plan to pay them back over time, FHFA is going to require that you make 3 on-time payments following the reinstatement of the mortgage after forbearance.
Is it possible that you caught up your skipped payments and your mother is using a repayment plan?
Q: I’m in The Forbearance system for the next three (3) months. Do I have to make up the payments for those (3) Months that I’m in this program? IAW: My letter I can start making my normal payments starting 01-Oct-2020. Due to this Convid-19 virus problem everyone is facing. Thank-You for your time.
If your mortgage is Federally backed, you are covered under the CARES Act. You cannot be required to pay those skipped payments all at once under the CARES Act. If your mortgage is not Federally backed, your workout options would be dictated by Wells Fargo.
You should have been given your options at the time that you went into the forbearance plan. If they did not provide you with these options, we recommend contacting Wells Fargo and having this conversation. Please let us know if you are unable to get an answer from Wells.
Wells Fargo gave me forbearance I did not even know what forbearance was at the time. I was assured it would not put my home at risk or impact my credit. I was also told I would be able to put the forbearance payments at the end of the mortgage if I so chose this option which I did. There is a great deal of equity in the home. When I went to exit forbearance to resume monthly payments in October Wells Fargo said I was not eligible for forbearance as I am the “Successor” not the original “borrower” who was my deceased father. But Wells Fargo knew well before this pandemic my father was deceased as well as we held the home as JTWROS. Both on record with Wells Fargo. Additionally prior to the pandemic I was working with a Wells Fargo mortgage specialist to refinance the home so I could access home equity and decrease monthly payments both were not only doable as so little is owed on the home but made good financial sense then the pandemic hit I was notified who my contact was during forbearance and all acknowledged me as the successor of interest there was never a question as to who was in forbearance as how could forbearance be given to someone who is deceased. When I went to exit forbearance in October to resume monthly payments I was told I was ineligible for forbearance Wells Fargo would not allow me to resume monthly payments they r making me do a sims modification loan they told me I do not have the same rights as the Borrower but I’ve read the law which clearly states I do have the same rights as Successor in interest also I asked Wells Fargo how could u put me into forbearance reassure me the above then take it all back at the end of forbearance. They have refused to directly answer my questions. I have sent in the first forms they required for this sims modification then on thanksgiving eve I received a letter from them to my deceased father referencing they have not proceeded with foreclosure as yet blah blah blah. I have emailed them again requesting they answer my numerous emails questions and if I do not hear from them by Tuesday November 30 I will have no choice but to seek the indicated council. I am afraid they have lied to me something is very wrong here
Hello D Gia. I am in the same situation you are in. Except the deceased is my husband, who recently passed away. When we took on the forbearance they told him he qualified to put all missed payments to the back of the loan. He called numerous times because he was very paranoid. He passed away in September 2021. We had a modification on a reversed mortgage we had back in 2011. At that time they decided it would be best to leave me off the loan. Our first mortgage payment after the forbearance period was Oct 1st. I have been making payments on time since. Now I am very concerned they are not going to assist me with those missed payments. I also have alot of equity on my home. Wells fargo had me wait 7 months just to verify I am on the deed and my husband has passed away. I finally was sent over to the preservation department. The specialist I was dealing with did not communicate with me. I sent numerous emails asking questions including if i needed to provide anymore documents to please give me a call. Never heard from her. Then I get a letter stating I am no longer being reviewed for mortgage assistance. It stated I needed to call them and let them know if I am still interested in assistance. I called and was told I needed to start the application process all over again. I was collecting state disability due to depression from the loss of my husband and then anxiety kicked in dealing with Wells Fargo. I can’t live anywhere else cheaper then it is right now. I have a back house that pays my mortgage. I will not give up this house over $16,000 when I have possibly close to $400,000 in equity.
I have been in forbearance for 5 months. I wish to resume making payment this month, August. What will be my options on repaying the missed payments? If I remember, it is a conventional loan backed by Fannie or Freddie. Any suggestions? FYI.. I took the forebearance because my hours were cut working from and I lost a ton of commissions.
You must contact Wells Fargo and let them know you would like to reinstate the loan. If you are able to continue making your normal monthly payment, you will be offered several options for paying back the skipped payments. If your loan is backed by Fannie or Freddie, you cannot be required to make all payments in a lump sum. A COVID-19 Deferment is your best option, which will put the missed payments on the end of the loan to be paid off if you sell, refinance or pay off the existing mortgage.
I paid my mortgage on March 15, 2020 and was current. Then I went into forebearance from April 2020 through September 2020, with next payment to be due October 1, 2020. The mortgage forebearance was for 6 months, but Wells Fargo is calculating the Partial Claim based on 7 months. I have contacted them 8x to get the papers corrected, but the underwriting team refuses to budge saying it is 7 months, yet insisting a payment be made in October.
Also, to make matters worse, when I asked for the partial claim on August 21, 2020, which is well in advance, I was told I had to pay $2,316.05 to cover the escrow under funding. I made the payment. They credited it to the mortgage, then reversed it, then put it into escrow. My mortgage payment is $1531.05 which x6 months deferral is $9,186.30. The partial claim is for $10,717.35 (which is clearly for 7 months), and they intend to apply $2,552.76 to escrow, which already has a balance of $2,450.44 due to my payment on 8/21/2020. Basically, Wells Fargo has clearly messed this up BIG TIME. How will this ever get fixed? Will I get a refund from my escrow account? What about the mis-calculated 7th month?
Rhonda, have you been able to get a Wells Fargo representative to walk you through all these numbers? It doesn’t sound that far off, so it may be interim interest because charged for “partial” month payments. You should be able to get a customer service representative to walk through all of the numbers with you.
Wells Fargo has included the HUD forbearance partial claim loan on my mortgage payoff for the last several months. I’m selling my home, closing in just a few days. Today I received a letter from Wells Fargo stating that the partial claim is now NOT included in my payoff and I will have to pay it back directly to HUD. I contacted HUD and they said there is a 4 day period for them to process my payoff request to pay off the forbearance loan. My closing is less than 4 days away. I’m concerned this will affect my closing since the partial claim is listed as a lien against my home. Any suggestions? I’m not sure why Wells Fargo suddenly changed the payoff quote to not include the HUD partial claim.
My mortgage was on forbearance last year for 6 months. I spoke to multiple agents who told me that the missing payments would be moved to the end of the loan. Now it turns out that they put the missing payments into what they call a second non-interest bearing Principal account. Also, my principle amount somehow increased by $2447.88. I was paying the escrow portion during the forbearance period. I have been calling WF since October to try to get an answer why the principle amount increased. I thought it was just being moved from the front to the back or from what they indicated from the one Principle account to a second principle account. I have spoken to a half dozen people but have not gotten an answer.
By the way, this is a federally backed mortgage — Freddie Mac
Hi Jim, hopefully, Wells Fargo can explain the additional $2447.88. As for the “putting it on the end” – that’s not a very precise description. It is in fact a non-interest bearing lien that is a lien position behind your first mortgage. This lien is required to be paid if you pay off the first mortgage through either sale or refinance.
Thank you. I appreciate your comments. Now are you saying that if my mortgage principle is e.g. $75,000 and the forbearance amount (Lien as you put it) is $2,500 then I have a new principle amount is $77,500? To me it seems that the “deferral” amount would decrease my original Principle amount of $75,000 by $2,500 which is moved into the new non-interest bearing account? Therefore the original principle amount would become $72,500 plus the second non-interest bearing principle account would be $2,500? The total would still be $75,000 if I am looking at this correctly.
You may not be accounting for the interest accrued during the forbearance period. If you look at your mortgage statement, most of your monthly payment is interest for the first 10 or 11 years. What was moved to the second lien would be the principal and interest accrued during the forbearance period. Does that make the math line up better?
Hum? I assumed, maybe incorrectly, that the payment suspension (forbearance) would not accrue any penalties or interest during the 6 month suspension period.
I calculated that the increase in my Principle is exactly the amount of my monthly mortgage payment minus the escrow multiplied by 6 months. I’m thinking that this amount is Principle plus interest for the 6 month period? If I would still be charged for the interest during the forbearance period then I can see the total Principle increasing. But it appears that they are adding both the Principle and interest onto the original Principle amount. Why are they adding the deferred principle which is in the second non-interest bearing account but not reducing the original Principle by the same amount. I would think that the total principle would only increase by the interest if interest is still being charged.
You’re partially correct. There are no late fees or penalties, and the amortized payment is still due. It’s just suspended.
You’re also 100% right on about making sure you understand exactly what the servicer is doing. It really is buyer beware right now. There is a lot of confusion around the CARES Act and there are a lot of inconsistencies happening between homeowner and the servicer.
As far as how it’s reporting, it could be a software issue, it could make sense if they break down the math for you so that you understand, it could also represent the total due, which includes the deferred lien.
Make sure the math makes sense by asking Wells Fargo to break it down for you. You may even be able to walk into a branch and ask the loan officer there?
I know this is frustrating. I hope this helps.
They told me something similar. They said if I mised 12 payments, they would add 12 payments to the end of my loan. I called a second time to make sure that was acurate and they told me the same thing. Now they want to put that money on a separate account or modify my loan and add 11 years worth of payments to my loan. When I asked to explore the modification option they gave me the details 2 weeks later. Since I didnt like the option I called back and expressed I rather do the deferal option. Now they are saying that because I chose to explore the modification option I can no longer do the deferal. Their executive relations department doesnt call back and they close my request to speak to them. Such a shame to work with this bank.
Came across this thread when searching for answers as the same thing is currently being done to me and curious if you were ever able to get any results or answers from Wells Fargo? Before agreeing to the deferment, I specifically asked if it would mean owing more on the overall loan and they assured me that it would not. It would simply be moving what was owed during that time to the “end of the loan” in a separate non-interest bearing account since the interest has already been calculated into the original payments that are being deferred. Basically that the overall amount of the loan would stay the same, but that portion would be due as a balloon payment at the end of the loan rather than having been paid month by month during the deferment period. Sounds like what you were told. Yet now I’ve got just over 12,000 added to the overall principal and getting the runaround from people who seems to not know what they’re talking about first saying it could be related to the escrow (not accurate) and then that “because you didn’t make payments during that time, we have to add them to your loan”…umm..No, I didn’t borrow any “extra” money, that amount was just supposed to be moved, not added. Such a headache. Anyways…hoping you got some resolution and very interested to know what it might be in case it can be of use in my instance as well.
Jim D. I have the same issue with my WF mortgage that was in forebearance, they added principle to the loan, which appears to be for one full payment, which doesn’t make any sense. I haven’t asked them about it yet.
Hello Rob, I have called many times and their Mortgage department support is horrendous. No one knows what they are doing or the don’t make any effort. They keep sending me letters that show 2 + 2 = 4 I have asked to speak to a supervisor or manager many times and they refuse to speak to me. When I call they don’t stay on the phone with me. They say that they will look into it and never call me back. They have closed 3 or 4 tickets without contacting me. They just send the letter that tells me nothing.
They haven’t stopped doing it without permission. They just put mine in forbearance on 3/9/2021. They also illegally took an additional payment from my sons account, who is on the mortgage. What are my options?
I have an fha loan. Am being offered a partial claim, no interest loan to be paid when my home sells. The IRS has a claim the home due to back taxes. Will this claim still be allowed
I am in the same situation and now they are running a title search they said i hear back from the in 4 weeks. Trying to get off the forbearance program is hell. i am scare they made it too easy to apply for this and they have misinformed the people of the possibility of loosing your home.
Greetings from Pete,
My dear mom was on a forbearance plan with Wells Fargo, I believe based on the CARES ACT and she passed away in August 2021 before her forbearance cane to a close at the end of September 2021.
The house was left to my brother, sister and I in her trust. I had been living here with my dear mom for almost 14 years until her recent passing.
My intention is to continue to live here and to just take over the payments.
So as not to become late, I made the first payment on October and plan to continue to make the payments every month.
Now I have been receiving statements here, and Wells Fargo knows the situation that our dear mom passed away and the intention of me living here and continuing to make the payments.
Probably no less than two or three letters of come in that state that the amount of almost $31,000 is doing payable by November 1st.
The letter then states the ramifications if that amount is not paid including the potential worst case scenario, foreclosure. Definitely the way it is written, it does not give the warm and fuzzies nor does it talk about any protection, at least on the front of the letter, in the text.
Any definitive insight would be very helpful as I am not versed in this at all, and the way it’s written, it does not sound encouraging.
Thanks much and advance!
Lol I’m sorry to say but reading all this about how wells fargo has, forgive my lewdness, screwed other ppl than myself is somewhat comforting because I was begining to think myself as crazy. Why ? Because I,(for some reason) have the thought process as how can a mutlibillion if not trillion dollar corporation and financial institution that is regulated by the federal government and powers that be like bbb ftc FINRA fdic and all these other 3-5 government backed agencies, could not possibly pull the ^®©% that y’all have spoken of and I personally have experienced, sadly. To each of you I apologize and empathize with you for a situation that never should have been able to arise ONCE little on however many regretful customers stories posted on this blog, all the countless ones before and sadly, the poor unknowing and naive ones to come. I am in a situation with this so called bank, or financial institution or national association or whatever other line that they chose to go by depending on the poor sucker they are getting ready to snare, that involves at least one part of each of y’all’s stories and the rest of it, a deviant and creative mind couldn’t even dream up. All I know is I don’t know where in the world all these elected officials and offices and consumer reporting agencies and bbbs that their duty is to enforce the regulations and statutes set forth for such practices and protect us as the consumers from such practices. I would love to tell y’all the whole story but it’s such a mess and like of _#@#+$ that I feel stupid uttering it because I don’t know how in the world it got to where it did. Lol but anyway they should change the name to “well it’s fargone” y’all have a blessed evening and I pray it goes better for all of us”
I just received a letter from Wells Fargo that they can no longer extend forbearance. I have been in forbearance for 18 months. I thought the CARES ACT states that forbearance must be made available for up to 4 months AFTER the pandemic is declared over by the Federal Government. I am not aware of any declaration by the Federal Government that the pandemic is over. Did I miss this announcement? Is my understanding incorrect? I am prepared to exit forbearance but I just want to know if Wells Fargo is in violation by stating they can no longer extend forbearance. Thank you.
I was under the impression after my forbearance with Wells Fargo that the missed payments could be applied to the back of the loan and would be repaid once the mortgage has been paid in full at the end of the loan terms or I sell and it is paid in full. I have received a letter stating I am in a three month trial period and I had to respond TODAY, the same day I received the letter, and if I don’t pay the modified amount that they will start foreclosure proceedings. I didn’t know I was in danger of foreclosure. The modification terms is I have to refinance after the three month trial period to a 40 year mortgage and my interest rate is only going from 4.5% to 3.875% with only a $200 savings per month (with a disclosure that my payment could change at the end of the trial period too). Furthermore, I tried to start making my mortgage payments again in February and even set up my automatic payments online while at the same time asked if I could be reviewed for a loan modification. I was told I had to turn off the automatic payments and not to make a payment or I wouldn’t qualify for a loan modification. So now two months later I am 60 more days for a total of 215 days delinquent but only because I was told not to make the payments yet. So the money that would have paid my mortgage went to other bills still outstanding. I am at a complete loss and sick that this pandemic and the financial strain it caused my family to be threatened into foreclosure if I don’t comply to the terms of refinancing my mortgage for an additional 10 years. how is this right or fair under the CARES Act?
This message is to inform you that Tata Capital offer all types of finances 3% annual rate.
Are you in need of financing of any type? Home Loan, Business, Mortgage, Personal etc..