Special Forbearance plans and Trial Modifications are just Wells Fargo’s stalling tactics, requiring loan mod. applicants to pay in money that generally isn’t applied to your mortgage to somehow pre-qualify to be re-reviewed for a loan modification. This is just a load of BS. If you are offered a “special forbearance,” that doesn’t get you any closer to a loan mod. Even if you make all the agreed-upon payments on time, you’ll still be asked to keep sending paperwork over and over. You’ll be reported to credit agencies as delinquent on your loan during the forbearance and/or trial mod. period – even though you are making the payment Wells Fargo specifies. Your loan will likely also still be progressing on the track toward foreclosure (the deadly dual-track system.) Read more
Granny vs. Wells Fargo – This series of videos documenting a conversation between two women seeking a loan mod and an employee of Wells Fargo’s Office of the President will sound familiar to anyone who has been playing the delay-and-deny game with any of the big banks. Can you count the lies the WF rep. tells?