I requested a loan modification and a principal reduction several times from Wells Fargo for my property located at XXXX XXXX XXXX XXXX, in XXXX XXXX. At the time of I was being reviewed for HAMP in XXXX 2014 my property was valued at {$67000.00}, the comps in my neighborhood were valued in the range from {$22000.00} to {$55000.00}. Wells Fargo Bank denied my loan modification under HAMP using my monthly gross income of {$2400.00}, Wells Fargo did not reduce the Principal Balance as allowed by HAMP. Wells Fargo did not Provide me with a Net Present Value review, this what have revealed the true value of the home and what method the value was obtained, furthermore, the XXXX would allow me to see what the projected HAMP modification would be the interest rate and the amortization schedule along with the any reduction of the principal balance. My gross income used of {$2400.00} would have been sufficient for a repayment of {$67000.00} at a interest rate of 2 % and amortization of 30 years. Instead Wells Fargo placed the excess principal amount which exceeded the value on the back end of the loan, a maneuver which HAMP would not allow. This action caused my payments to accelerate ever year way beyond the true value of the home and provided for Wells Fargo Bank to gauge me for payments legally, however to their dismay I refused to sign such a one sided agreement. Therefore, my punishment is foreclosure. 
