To make a long story even longer...... We fell behind on our mortgage payments (three years ago) and entered into a repayment plan with then Norwest Home Mortgage. We were paying via western union via phone and progressing just fine. Our then bank had screwed up a few times (not posted a deposit, taken money out of our account to cover someone else's check (we were in the 200's , the check they 'passed' was in the 1000's!) so we closed our account and opened with another bank (in November) . January of the next year, we recieved notice that our 'check' had been returned saying our account was closed. The 'check' in question had been passed, and paid in September. We got in touch with both the bank and the mortgage company. The bank couldn't explain WHY they had marked a check they had paid as 'nonpayable, account closed", but they forwarded several letters on our behalf to Norwest (both area managers and bank presidents sent letters). Norwest basically said " They sent the check back, must not have been paid." Refused to acknowledge that the bank made a mistake. Immediately deducted the amount of this check from our payments made. We faxed copies of the cancelled check, we faxed letters from the bank, we had an attorney fax letters on our behalf. Still we plodded on, making our payments. One day, three months into this fiasco, Norwest began refusing our payments until we paid for the returned check. Eventually, despite our requests, Norwest sent out an intent to forclose. In order to save our home, we had to overnight a check amounting to over 4000.00 (all over a check for 800.00). They day after we paid, we recieved a letter stating that everything was all nice and they would be sending 800.00 of COMPANY FUNDS to our account to cover the check. Doesn't that sound like admitting to a mistake? Of course, all the past dues reported on our credit. Been over two years and they are still there, all over a clerical error. Do you think sending a goodwill letter will help? We've been current (or early) for the past two years; now we need to buy a larger home and this is really standing in the way. We will be using another mortgage co., but I thought maybe making it known that we want to get another home loan through them might sway favor ..... What do you think? Charaty
I am a banker with Wells Fargo, but I have very little knowledge on the Home Mortgage side. So I'll try to help in any way I can. First, have you kept all letters and communications sent by you and received by you? You will definitely need to keep your paper trail no matter which mortgage company you go to. Second, if this really is a bank error, (which I assume it is based on the $800.00 credit to your account), is your account in good standing now? Have they updated all your credit reports to show their error and ensure that your mortgage payments have all been on-time and never late? My best recommendation: Talk to a Wells Fargo Home Mortgage consultant and get to the truth. Tell him that you are looking to refinance your existing Wells Fargo Mortgage, but may have some difficulty because of this situation. Give him the facts and they'll let you know the reality of it all. We might actually have a really good deal for a refi? You never know until you ask the right person the right questions. I would encourage you to give us another chance, but I wouldn't blame you if you decided to go with another lender. BTW, are you going to get your $3200 back for your $4,000 check? I don't think I would bother with a goodwill letter until you know absolutely sure where you stand with your current mortgage and credit reports.
Thanks for your reply. Yes, I have the paper trail (more like a logging road now, an inch thick manila folder full.). As far as getting our money back, we hadn't even attempted it because, well, after having the specter of losing our home hanging over our head, we were just relieved to escape that. I don't even know how/where to try to get the money back. Honestly, it isn't so much the money as the credit. They did not correct our report for the mistake, but we have been in excellent standing ever since that. We have talked with the gentleman who processed our first loan about refinancing this one but at the time, we hadn't seen our credit report in years and there was a lot of swill on it to dispute and have removed. It is in pretty good shape now (for us anyway) except for the Norwest problem. I am hoping if I contact someone there, they will sort through the mess and remove the incorrect late postings (I know some of them belong, that is why we ended up in a repayment plan in the first place.). Now I just need to find out who to go through and the right combination of words to plead my case. Thanks again.
