The bank has been taking the mortgage payments and now they are foreclose?

Wells Fargo has been taking our house payments, cashing them for the last two years. Now they sent us a letter saying they are going to foreclose on our home. They said there is nothing they can do now because they already forwarded it another Attorney. We have contacted an attorney & waiting for a call back. What are our rights? We now can't sleep at night. Will we able to sue them back?

Thank you for the quick responses. The house is in a modification agreement due to when I got divorced the orig. loan was under just the ex's name and he got behind. To fix that problem WF put it on a modification agreement. We had to resign papers and do a a new payment plan. For the last 2 years I've been making payments on time. No calls or letters for WF and recieved my 1099s at the end of the year and my home ins. verified WF has paid the ins. WF claims there was 1 paper not signed so they haven't applied the payments to the mortgage. My agent asked if they could fax it so we could sign it and get this problem fixed. The WF rep said to late it's at the attorneys office now. How can they cash my payments? How can I get this fixed so we can sleep at night again?

Wells Fargo definitely NOT a bank to do business with. Son has a car loan with then as like you automatic payments which are religiously taken out but for 8 months received calls letters etc saying he was behind or missed a payment. Then the real winner came out they stated he did not have sufficient insurance so had to take out theirs. He was covered under mine with full protection. Calling them got the run around, conference calls with everybody denying what they where doing, inspite of the proof of the bank statements, and recordings of the calls. End result they are rip off artists after almost a year and writing our congressman and getting the Attorney General involved with an investigation they finally backed off. So would write your Congressman explain the situation save your bank statements showing they took the money , look up on the net the Federal Banking Commission and where ever else you can make a report. (Sorry do not remember them all) FTC, BBB, etc and file complaints against them. Fight it and fight it hard using the Government and the internet. Google them and you will find other with complaints on them find the roads they took. Educate yourself on their tricks and problems. Sorry I cannot be more specific as it has been over a year since we went head to head against them and did not save the bookmarks after winning. They will deny all and switch you from department to department so keep your ducks in order, save everything and attack. File complaints wherever you can, they are the worst of the worst. The more I have read the worse it is, I have never used them and never will. Again good luck, and as stated research, write and fight.

First of all, this might just be an error on their part and can be easily fixed. However, this does sound reminiscent of some mortgage scams. Not by Wells Fargo but by a third party agency. Are you making your payments directly to Wells Fargo or are you sending your payment to someone else? There are companies that claim to process mortgages and stuff like that, even negotiate lower payments or prevent foreclosure. They get you to send the money to them instead of the bank. These guys then keep the money for themselves and after a while the bank forecloses. The scammers take the money and run. I would first check with Wells Fargo to see when the last payment on the mortgage was received. Ask them about the forecloser and make sure that it is not a mistake. If you are sending your payment to a third party then you need to investigate them very closely.

There's not enough info to go on here.

We will need to know the following:

1) You say you've been paying Wells Fargo for the past 2 years. Were they on-time payments?

2) if the answer to #1 is "no" then how far behind are you?

If you are NOT behind on payments and they're going into foreclosure, talk to the wells fargo attorney with your OWN attorney ASAP. However i suspect you are behind on payments and maybe are at least 90-120 days behind and are just paying now for mortgage due in January for example... in that instance, there's not much you can do.. .they can go into foreclosure.

Have you been making full payments each month? Are you making payments each and every month? Are you currently late on the payments? Have you received phone calls that the payments are short? Something doesn't sound right here.....

Talk to the attorney. If you are up to date on your house payments, they would not try and foreclose. The banks don't win when they foreclose, they lose. They would only foreclose as a last resort.

You're leaving out significant info. There wouldn't be a foreclosure happening unless you were in default.