Description

The first communication I received was by mail in September 2023. It was branded as a 'Pennsylvania Resident Eligibility Notice' in connection with the CARES Act Economic Stimulus Plan. It stated that eligibility included any interest rate 3% or higher as well as financial hardship or medical issues. The program entailed a permanent adjustment to an existing home loan and an interest rate reduction resulting in a reduction of monthly mortgage payments. I requested additional information and subsequently communicated with three different individuals. The first individual was from the 'Mortgage Adjustment Intake Department', the second was a 'Compliance Officer' and the last was from the 'Mortgage Processing/Underwriting Department'. The communications were lengthy, detailed, and occurred over time via phone, email and text exchanges. It was explained that the program was connected to the Fresh Start Program referenced on the US Treasury website. The program would offer an interest rate of 2.5% for the first 5 years, 3% for the remainder of the mortgage and an amount equal to $85,000 would be interest free. The savings would be equivalent to $577 per month. The entity was referred to as 'National Amendment Assistance'. I provided information along with documents at their request. It was explained that an underwriting fee was required, however I would be eligible to submit the payment with my tax return and receive a refund in full. The payments requested were 2 installments of $950.00. After the first payment was made, I became suspicious and indicated I was no longer interested in pursuing the process and requested an immediate refund. The communication was noticeably less professional and my request was ignored. I immediately filed an incident with Wells Fargo to report the fraud and pursue a refund. I closed all the Wells Fargo accounts and reopened under different account numbers. The original representative at Wells Fargo indicated I should see a refund in my account within 7-10 days. The next communication I received from Wells Fargo was a letter which indicated the issue would need to be resolved directly between myself and National Amendment Assistance, which is impossible because they are not a legitimate business.