Hello...My husband and I were mislead into signing a sub-prime mortgage. I really don't know how to begin or start this letter so, here goes. In 2010, I was trying to get a new mortgage because I needed to remove my ex-husband's name off of the original mortgage. I was first approached by a lender in Florida, and they said I was approved for a 5% interest rate on my $110,000.00 mortgage. I paid $350.00 for the house to be appraised then was informed of a closing date. When the date came, I didn't hear anything, so I called and I was told that I wasn't approved and that they were sorry,but, I couldn't get my money back for the appraisal. This was an unfair and manipulative tactic on the prospective lender's part. Then, within 2 weeks after, I received a phone call from Wells Fargo. A representative said they could help me so, I went up there. They were nice people and I told them what happen to me earlier with the other company. Megan was the lady who was helping me. She took all my information then called me back in a few days and told me, I was approved for a 5% on my mortgage. I had 6.3% with Bank of America but, they wouldn't take me ex-husband off the mortgage and I had my divorce papers saying I had to remove him. Anyway, then Megan came back and told me that I had to add all my credit cards on the mortgage too. I didn't want to do that but, she said I had to or I couldn't have the mortgage. So, I agree. Less than two weeks before closing, she came back and said I needed a co-signer on my mortgage. I asked my boyfriend Mark, who is my husband now if he would co-sign. He did and again less than two weeks before closing she came back saying was a problem. At the time, I had a credit score of 643 but, Mark had a credit score of 595-600 because of something that he's ex-wife had not paid and he never checked his creidt score before. Megan called us and said that we only qualify for a sub-prime mortgage. I never heard of a sub-prime mortgage before. She said that we would only have to keep it for 8-12 months, it would rebuilt his credit and we could refinance the mortgage after that to a cheaper rate. Mark asked about the first-time home buyer for him since he has never bought a home. She said that he would get that too but, that's not so. We asked how much the interest was and I about fell out, it was 11.63% but, she kept saying it was only for a little bit, it would rebuilt his credit and then we would get it lowered. So, I was going from a $110,000 mortgage at 6.3% with a payment of $807.00 and that was with escrow to a $145,000 mortgage at 11.63% to a $1585.00 payment. That was a lot and I was approved at first for 5% but, beacuse of my husband beging a co-signer it went up. We wasn't sure about it but, she kept saying we needed to decide because it was only good for I think 2 days or they would retracted the offer. We felt pressed but, we trusted her and Wells Fargo so, we signed. I believed everything she tolds us and I really did believe she was looking out for us but, less than two weeks after signing the mortgage I saw on the news where they doing away with sub-prime mortgages. The news said sub-prime mortgages were not good for the consumer and was a very bad thing that mortgage company's were pushing on some. My heart sank and I felt like a fool right then and it was too late. We just waited for the 12 months to end so, we could refinance the house. I went to the Wells Fargo Mortgage and the nice lady there said she couldn't pull up my mortgage because I went though Wells Fargo Finance. I didn't know there was a differents but, there is. She said she was sorry but, she couldn't do anything. Then my husband lost his job and he started using his saving to pay the mortgage. I called HUD and the lady there told me to contact my State Attorney and file a complaint because what they did was wrong and something needed to be done about it. Then American Executive called and said they could help so, I trusted again because I don't want to lose our house. I didn't want to make any problems I just wanted to be treated fair, have a fair mortgage and mortgage payment that we could afford. We started this Octorber 29, 2011 and I filed a complaint with Consumer Financial Protection Bureau in February too. Jayme Adam called us after I filed with Consumer Financial Protection Bureau. Mr Adams was nice and said he would look into it. Then he wrote that my credit score is 583 and that's why I got that interest rate of 11.63% but, when I was getting the mortgage in the first place I didn't have 583, it was 643 and I was approved for 5% so, he is wrong with his report. Then Wells Fargo finally came back 4/2/2012 with a payment of $1338.75 as a trail 3 month payment period. Don't know what the interest is or how much lawyers fees they tacked on at the end of the mortgage until after the trial but, that's what they said they would do. Plus, we aren't promised to get the mortgage after the trial period. So, I might get 30,000 or more tacked to the end of the mortgage and might be upside down on the house too. Our house isn't nothing fancy, it's a simple brick house and we don't want to lose it. I work two jobs right now and the V.A. has paid for my husband to go back to school so he can get a better job. I still have three children who live here with us. I'm not trying to cause any problems. I just wanted to be treated fair and keep our home. Thank you very much for your time and for reading this.