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Home Loan Modification – Wells Fargo Mortgage Difficult?

Posted on | December 10, 2009 | 1 Comment

Going through the home loan modification process is something that many Americans are hoping to do to lower their monthly mortgage payments. So far, the plan has gotten off to a slow start because of the amount of paperwork that must be submitted. Many readers of Subprime Blogger have complained that Wells Fargo is being extremely difficult and not willing to work with borrowers to modify their current mortgage.


The home loan modification program was created to help homeowners stay in their homes and avoid foreclosure. The idea is great but the process has been very difficult for many homeowners. The amount of paperwork that must be submitted is quite excessive and many homeowners can not get out of the trial period of the home loan modification process. Unfortunately, homeowners are unable to supply the proper amount of paperwork and very few loans are getting permanently modified.

If you feel that you need to get your current home loan modified that it would be a very good idea to do a sufficient amount of research. The making home affordable website has a great amount of information and should be able to help you with any questions you may have. The making affordable website is quite expensive so please be ready to set forth many hours to go through this website.

If you do not understand the financial jargon of the making home affordable website then it might be a good idea to call a HUD representative. These representatives can speak to you for free and can answer almost any question you may have on the home loan modification process or any type of refinancing process that you hope to go through.

It is extremely important that you decide what is exactly right for your current situation. Not everyone can benefit from the home loan modification process and you need to understand this. Many borrowers have been denied because there loans do not qualify. Rather than going through many hours of paperwork to submit your application and is a good idea to find out if you would qualify first.

If the current economy and your financial struggles have gotten you down make sure to check out the inspirational blog My Life After Retail.  The blog is an account of the journey to find peace of mind and happiness in today’s society.

Author: Alan Lake

Category: Home Loan Modification

Comments

One Response to “Home Loan Modification – Wells Fargo Mortgage Difficult?”

  1. Marjorie DiCarlo
    January 16th, 2010 @ 7:20 pm

    My husband have to say that Wells Fargo is very difficult to work with as far as getting our home loan modified. They have gicen us the run around to no end. We have sent paperwork in 6 times. Finally I decided to speak with an account executive. They have sent us paperwork requesting a financial worksheet and 30 days worth of stubs. We mailed it two-three day priority mail with signature confirmation. We will see what comes of this.

    Please Please do not give up. We have been at this battle since October 2009. It is now January 2010.
    They want 1.30 days of check stubs 2.financial worksheet(make sure all bills,groceries,utilities, child support,alimony etc is on it) 3. hardship letter

    All these items, they want every 30 days. Do not wait for them to request it, just keep sending every 30 days. Make sure that your hardship letter and financial worksheet is signed and dated. Make sure that you are calling to follow up that they have received your paperwork. Lets all keep our fingers and toes crossed along with prayers!!! We do not want to lose our home!!! We do not want to see anyone else lose theirs. Especially when the government has programs and have informed the banks to help!!!!!

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