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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Real Estate Law
Satisfied Customers: 17458
Experience:  B.A.; M.B.A.; J.D.
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Attempting to re finance my home because of retirement

Customer Question

attempting to re finance my home because of retirement .wells fargo bank refused to honor previous variable loan from Wachovia and after 5/6 monthS did not accept my payment.i obtained an attorney who contacted the bank 3years ago .we were unable to obtain a modification.finally I contacted wells fargo who informed me that I was making too much money for a modification I INFORMED THEM THAT iwas 73 years old and I wanted to retire and my income was going to be reduced $2000 monthly.I was told to retire and then provide documentation and proof of income.I DID RETIRE 3 MONTHS AGO AND NOW THE BANK IS TELLING ME THAT MY INCOME IS NOT ENOUGH TO QUALIFY.I AM IN chapter 13 and my attorney recommended me to seek legal help.
Submitted: 6 months ago.
Category: Real Estate Law
Expert:  Phillips Esq. replied 6 months ago.
This is quite unfortunate the way the case has been handled by the lender. There is really nothing that an Attorney can do that you have not done. I will suggest that you contact Consumer Financial Protection Bureau ("CFPB") for assistance through filing complaint with the agency against the lender. The CFPB would assist you in trying to reason with the lender. Click on the link below to file your complaint: http://www.consumerfinance.gov/complaint/ Kindly give a positive rating to my response so that I can receive credit for responding to your post. There is no additional cost to you for doing this. Thank you for your cooperation.

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