djrez4 wrote:Curious minds want to know:
How did Wells Fargo cause your bankruptcy?
It's a long story so I'll try to make it short. Like most mortgages they get bought and sold over the years and WF got ours. My wife decided to quit her job and go to nursing school to become an RN. So our income got chopped in half. Over those few years we fell $12k behind on our mortgage "our fault". Once my wife was done with school an was working as an RN things got much better so we worked out a repayment plan with WF to get all caught up with them. Our normal monthly payment was $1,400 a month. We were paying $3k a month which was what we had renegotiated with WF. For 5 months everything was like clockwork. And then during the Fanny mea and Freddie mac crisis we get this notice from WF saying they want us to pay the balance of the $5k we owe them right now or they are going to foreclose on us in three weeks. My wife and I were like WTF? We even had a copy of the agreement. They didn't care. So my wife called them and supposedly got it worked out with them. Two months down the road we get another letter saying the same thing. It's like the left hand didn't know what the right hand was doing with that bank. This time we hired a Bankruptcy lawyer. The lawyers looked over everything and were puzzled that WF was doing this. They said it's not like you are not paying your mortgage! Hell you guys have been paying over double what you payment is and have been doing it for the last 6 months. With all of the people loosing their homes in foreclosure they should be happy they are getting what your paying them. So they put a stop foreclosure order on our home so WF couldn't touch it. We filed for chapter 13 which is re organization of debt. Once WF got notice they called us up and practically begged us not to do bankruptcy. My wife told them that we don't trust you people anymore. You tell us one thing and do another. They could not even find our reference number. It was a mess. The bankruptcy was supposed to last 5 years. We got it done in 3 years. None of this had to happen. We were just months from fulfilling the repayment plan we had worked out with them. The whole damn thing caused us some serious pain financially and in our marriage. We made it through and kept our house but it left battle scares that left us very bitter towards WF. But now that it's all over they have been very good to me. And that helps to repair my opinion of them. I'm sure that there are other horror stories that have happened to others from different banks but WF was the one in my case.