Wells Fargo Mortgage Modification Program is an assistance program introduced by the bank to help those homeowners who are facing financial problems in paying their monthly mortgage payment. Making defaults on mortgage repayments can lead to serious consequences like home foreclosure by the bank. However with several loan modification programs, Wells Fargo endeavors to help many borrowers who are most likely to face home foreclosure and defaults. Depending on the individual circumstances of the homeowners, the bank will work out to provide an alternative payment option which is more affordable and which will help them to retain their homeownership.
Wells Fargo Mortgage Modification Guidelines
To get into the mortgage modification process with Wells Fargo Bank, you are required to contact the Wells Fargo Mortgage Modification Department. A large number of homeowners often face mortgage modification problems and scam due to lack of information on their part. So, it is very important for them to get help from the mortgage modification department of the bank to get success with their loan modification process. You are also required to prepare the following details before contacting with the department.
* A hardship letter providing brief explanation about your financial problems.
* A complete list including all your bills, loans and expenses.
* Household income proof (recent pay stub, profit/loss statement and tax return).
By availing a mortgage modification package, you will get a new amortized repayment schedule depending on your present financial status and it will be more affordable for you. You are required to check your mortgage modification status at regular time interval by making contacts with the modification department. Wells Fargo Mortgage Modification forms are easily available at the branches of the bank and at the official bank website.
Wells Fargo & Company has also signed second lien modification component under Home Affordable Modification Program sanctioned by Obama Administration. Qualified Wachovia and Wells Fargo second lien mortgage customers can get this program after completing modification of their first mortgage.
This program will offer another valuable option for the homeowners to reduce their payments and retain their homes. As of February 2010, Wells Fargo had provided modification programs to over 180,000 second lien mortgage customers and half a million first mortgage customers from all over the nation. The new program will surely increase the number of homeowners who can get assistance through loan modification from the bank.
Contact the following customer service numbers to find more comprehensive information on Wells Fargo mortgage modification financial worksheet, mortgage modification 2010 or to make complaints.
(800) 678-7986
(866) 398-7556
Wells Fargo brings a range of mortgage assistance programs for eligible homeowners. Find more details on mortgage modification program offered by the bank.
Website: https://www.wellsfargo.com/mortgage/account/altrepayment
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