Wells Fargo Home Loan Modification Process

Dear President Obama:

In a recent New York Times article I read that daily you read ten letters written to you by the American public.  Although I knocked door-to-door on your behalf in the swing state of Colorado in 2008, it has never occurred to me to write you a letter.  The thought of it was a little intimidating and your schedule and policy issues seem overwhelming enough.  But I need your advice on my 3½-year struggle with Wells Fargo and their home loan modification process. 

In brief, I am a single woman in my mid-50s living in Marin County, California.  I lost my management job at the corporate offices of a national retailer in July 2008.  I have worked on and off as a freelancer in media and creative services since then, but have yet to land a full-time job despite a relentless job search. 

I began the process of applying for a home loan modification with Wells Fargo in July 2008 and now fully understand why so many people give up the fight to save their homes.  Although I have been paying a monthly forbearance amount for the last 6-months, and have reported Wells Fargo to the OCC three times, Wells Fargo has not made a final determination on the terms of my mortgage and now they simply ignore my phone calls.

This sort of stonewalling makes me imagine what it must be like for you to face the Republican members of Congress.  I don’t know how you do it, but I’m glad you’re there fighting on my behalf.

I know you have a plan for states to agree to a settlement that would bring billions in mortgage relief, and I hope we see the plan succeed.  In the meantime, would you please tell me what I should do to get Wells Fargo to respond and make a final determination on my loan modification?  

Thank you for your help, Mr. President.  Keep up the good work!

Sincerely,

Sara