Then along came Wachovia… we were close to a sale on one house, found out that Wachovia was demanding an “early payoff” penalty, even tho it had expired years before… they contended a 1 yr lock had reset it, but nothing in writing. 4 months & 5 letters from the MN Atty General’s office finally got them to answer – they refused to cooperate. 2 months later we discovered Wachovia had waved all of these early penalties!

In 10/2008 Wachovia finally agreed to rewrite 2 of my 3 mtgs to fixed rates. They paid for appraisal, approved my credit & told me I could expect to close in “2 to 4 weeks”. I called 2x/wk. By late 11/08 they had “lost” some of my paperwork, paperwork they earlier confirmed receiving. Resubmitted. Early 12/08 “underwriting” needed more doc, tax records, etc. I supplied… they only got “some”, I refaxed, they again lost, I refaxed again. Now being told “everythings in underwriting, be patient”. Finally in 1/09 I demanded to know what was up. They said they’d check. 2 days later I receive a form letter with my name misspelled saying I didn’t “qualify”. I called but got absolutely no answers, no promised return phone calls, no nothing! Somewhere along the way I was told by a Wachovia manager the reason I did not get the loan mods was because Wells Fargo was dealing to acquire Wachovia at this time, and “very few mods were approved” the last quarter of 2008.

In 1/09 I tried many times, unsuccessfully, to talk to “Loss Mitigation”. I was told outright “Oh, they won’t talk to anyone unless you’re at least 3 to 4 months delinquent”! I sent registered letter stating I would not pay on one of my homes until I was able to talk to them! Continued to try to reach them to no avail. Finally in 4/09 I received a call from them. I was told they were getting “a new program” that would probably allow me to refi at least 2 of my 3 mtgs… “check back with us in about a month”! In early 5/09 I submitted all the paperwork crap again, as I remember, some was again “lost” but the process was moved along, if at a snails pace. I finally received a call & told we had been approved. I was told my interest rate on my home I was living in would be 4.9% (30 yr fixed) and 5.5% on my “investment” home. My wife & I were excited – we had finally gotten Wachovia to actually do what they had long promised. We had the legal papers over-nighted to us. We were first happy, then taken back: the terms were now at 6.5% on both houses! I called for 2 days – finally got a V.P.’s name off the internet – she wasn’t happy I had reached her – she said she’d call me back… she did very shortly, saying “that’s the best we’ll do, take it or leave it, I don’t care what you do”!

We very reluctantly signed the mods, then sent them a registered letter explaining things, and notifying them we would no longer make payments on one of them which did not cash flow. We offered to negotiate with them & try to work something out. We received no answer, except form letters telling us they were “very concerned”. By late 2009 I repeatedly tried to find out about “short sales” & “deed backs”, but was told “Wachovia doesn’t do that”. Finally in 12/09 I received an over-night envelope with a small 4 page brochure entitled “short sales” in it… nothing else. Tried to talk to someone there, no body knew anything about short sales or who might have sent me the brochure! Then 1/2010 I receive a form letter saying I “qualify” for $2500 if I participate in a short sale. It has a cut-off date of this same month.

In 2/10 I talk to someone at Wachovia who wants to know what I “intend to do”. We talk for 30 minutes or more… he really offers nothing specific, except to say “maybe you want to do a short sale, so your credit isn’t hurt”. I tell him my 780 credit scores have gone in the toilet thanks solely to Wachovia.
He commiserates with me that a lot of people are having mortgage problems. Again, he has nothing concrete to offer me. A few weeks later I receive another form letter, this time offering me $5000 to do a short sale, and gives me until 5/10 to finalize it.

These lying whores can have their house back. And they will probably get the other 2 back as well. Wachovia do not negotiate or even talk to their customers in good faith. They have no interest in doing anything except hassle you. The truth is not in them. They do not return phone calls. They give you the run-around constantly. You can not talk to the same person there twice, you’re constantly transferred to people who have no idea what you’re talking about… phone calls from the customer take 30 minutes just to tell your story to someone who turns out to be nobody that can help you. You have a better chance to talk to the Director of the IRS than someone who knows what they’re doing at Wachovia. Negotiating with them is like negotiating with your 2 year old!

It has become obvious Wachovia wants to be in the real estate business! I’d like to pay them back what I borrowed… I’m not asking for a handout (like they’ve done), I just want the fair, reasonable 30 yr fixed mortgage I was promised many times. Unfortunately, they don’t want or need my money.

It’s really time the Feds let incompetent mortgage companies like Wachovia go out of business. They’re nothing but a bunch of self serving goof balls who have earned the problems they have.

We were not and still are not late on any payments to Wachovia. We requested a modification to lower our payments in order to not default. I was approved for an interest reduction from 6.63% TO 2% FOR A PERIOD OF 1 YEAR in May 2009, with interest reverting back to original 6.63% in May 2010. I was assured that this modification was an agreement between the bank and myself and would have no negative info reported to my credit bureau file. LIARS! As I have tried to refinance my home, I have come to find out that my credit file contains the following statement: PAYING PARTIAL PAYMENT AGREEMENT – which in turn is far worse than being late on a payment, according to the credit bureaus. I questioned the Wachovia Loan Officer who handled my modification, and he did say, by way of leaving a voicemail, that “yes”, I was correct, no negative reporting was to have taken place, but Wells Fargo changed the terms and are reporting modifications as negatives.UNBELIEVABLE! Forget about Wachovia doing what is right and removing their statement. I got a BS letter to my dispute stating that “the info is accurate” No Shit – but you lied! I didn’t need Wachovia’s help in ruining my credit, I could have donne that on my own! My reason for this modification was to NOT HURT MY CREDIT! And I was assured that it would not!!!!

My question is this: Does not Federal Law REQUIRE banks to notify consumers of changes in terms to their original agreements? Had I not tried to refinance my home I would not have known this was being reported this way, as I received nothing from Wachovia stating that this was their supposed policy now.

Has this happened with anyone else? I would be interested to hear. If they’ve set a pattern of deceit there could be grounds for looking into a class action lawsuit to correct their wrongdoings.

I wish I could get my judge to decide to order my mortgage canceled with Wachovia. I tried to work out an agreement. I hope more judges do this nationwide. We are struggling to make ends meet. The judge said they were mad at the NY bak since it receieved MILLIONS IN BAIL OUT MONEY. Such as here with Wachovia. I wish I could talk to the judge that I will be in front of and let him/her know about this. I had to declare bankruptcy, since my house was to be sold August 10, at sheriff’s sale. My attorney said I would not be here in November, I’m still here, Hope to be here at Christmas. I’ve paid thousands on my mortgage. Anyone else have anything to add to this? I just started a job 3 weeks ago(have not had a job since January, about 100 resumes/applications out there/no jobs in my area of Florida), the was laid off last friday, I was selling used cars (the owner needed a person to help the other salesman to keep the business going, since he went to the Bahama’s for 4 days, came home, then let me go.) Now I’m looking again, he did pay me, but was not much.

Same situation than everyone here. Fighting with this guys for over 7 months trying to get a loan mod. Everyday I call they have different kinds of answer. Let’s call FTC. Anybody having problem with wells fargo denying loan mods and giving us a run-around should file compliant with FTC 877 382 4357. They say if lot of people complain there will be investigation and follow up with class action suit.

FROM :claudio saavedra

After many, many hours every week and being told something diferent everytime I called, I have now received my notice to pay my 6 months dues plus late fees plus drive by fee plus $1,017.00 attorney fees. They say that they will let me pay 1/2 of that and the rest I can pay in 6 months on top of my mortgage payments. IF I could NOT afford the regular payments, how the hell do I pay the extra payments now with more fees added. I WAS told by the Executive Offices that I was not in forclosure on September 14th but the Foreclosure Dept. told me they start procedures on the 10th. Right hand not knowing what the left is doing/saying. I have left 6 messages with the Executive offices and have had no return calls!

My loan was just a refinance loan and I had and STILL have more equity than I borrowed. I do not have two loans, it is simply a loan where I borrowed against my equity eight years ago and made it a larger loan. My home is now worth $40,000.00 more than I owe.

IS MY TYPE OF LOAN AVAILABLE FOR A MODIFICATION? My letter to come up with over $5,000.00 was written on the 1st and received on the 8th of this month. I now have 6 days (3 are weekend and holiday) to have the money in their hands.

ANYTHING you know about my options would be greatly appreciated.

Thank you in Austin, Texas!