Yes, Trial Mods and Forbearances are Part of Wells Fargo’s Scam

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?