We received a mortgage loan through Wells Fargo Financial in 2005, ( this being a refinance from an earlier loan ). We have since discovered that this loan was based on the rule of XXXX 's for the application of payments. Congress passed law in 1991 stating that this form of accounting could not be issued to loans over 61 months, our loan is for 240 months. Because of this loan structure, we were unable to refinance with any other company because we owed far more on the loan than we originally borrowed. We have tried for 5 years to have Wells Fargo correct the errors in our loan servicing, to no avail. After 5 years, Wells Fargo has now foreclosed on the property. We had to file an emergency Chapter XXXX bankruptcy in order to save our home. After years of research, I have uncovered more errors in the loan servicing. Examples of these errors are : WFF APR is twice the amount of the average APR at the time of the loan making this a high cost mortgage, of which are subject to the requirements of TILA 12 C.F.R. 1026.35 ( Title 12 of the Federal Register ). TILA Sections 108, 129, 129B, 129C and 130 state the statute of limitations to be 3 years. Our appraisal and income was inflated in order to qualify for this loan, a violation in which the originator must make certain of the ability to repay. No counseling session was required thus no counseling certificate was presented. 12 CFR 1026.32 ( d ) ( 6 ) prohibits pre payment penalties on these loans. 12 CFC 1026.35 ( b ) requires escrow to be established ( no escrow established on our loan ). 12 CFR 1026.36 prohibits loan originator compensation whereas our loan included commission to the officer. 12 CFR 1026.36 ( h ) prohibits mandatory arbitration on waiver of certain consumer rights, such arbitration agreement was included in our loan closing. The loan originator must be licensed with XXXX and the loan documents must reflect this. No Identification number was included, bringing up the question as to the qualifications of the originator. We never received our Truth in Lending Disclosure. With all this being said, due to the structure of this loan and our inability to have these errors corrected, our credit has been significantly damaged and un-repairable. The damages that Wells Fargo has caused us both financially and emotionally are insurmountable. 
