Wells Fargo Loan Modification Programs and Guidelines

Wells Fargo Loan Modification Program offers several loans and mortgage solutions to homeowners facing financial difficulties, and to those who are struggling hard to meet the monthly loan payment of high interest rates. Homeowners with Wells Fargo, who are in dire situations with financial crisis, can find alternative assistance options from the wide range programs offered by the bank's department. It matters only that the borrower knows the entire process and the required criteria for loan modification qualifications. For example, properly filled forms with accurate and acceptable information package in the required documents can win a better chance of success in getting approved with the results that one really needs and deserves.

Wells Fargo Loan Modification Programs

Homeowners will find a number of Wells Fargo Loan Modification plans that can help them get rid of the situations, with starter kit guidelines and useful tips in application to meet eligibility requirements. Unemployed homeowners can avail the extension plan of Wells Fargo Home Affordable Unemployment Program which can help them avoid foreclosure. One can log in to read the various blogs of customers to know about their experiences, success stories, and complaints 2010 for denied services because of various reasons and one can learn from them.

The Obama stimulus package is good news for the house owners and is beneficial mainly to owner-occupied, primary residence with sufficient principal balance, and to those homeowners, who had financial difficulties due to loss of their jobs. To qualify for the former plan, occupancy status will be verified by the dept through documents like credit report of the borrowers. For your tips, one should prepare its financial worksheet report very carefully. One will need to provide appealing reason for their hardship in their written hardship letter, and their most recent tax return and two recent pay stubs or receipts.

Wells Fargo Loan Modification Guidelines

Wells Fargo Loan Modification programs 2010 offers effective streamlined time frame solutions to help prevent homeowner's mortgage foreclosure. To qualify for a Wells Fargo Loan Modification, there are several approval requirements and steps to get approved for new terms and agreement. For this, borrowers are encouraged to use the guideline and formula of the bank that is provided with all the required forms and complete directions for modification process. This guide will help you step by step in calculating debt ratio, filling the financial statements, and in writing your hardship letter. To avoid loan modification scam and other fraud activity of various lenders and company, the homeowners are advised to hire or retain a trusted Attorney. They can help deliver favorable results and bring a fair agreement that you need.

Wells Fargo Loan Modification Application

Only the qualified borrowers are offered Wells Fargo HAMP Loan Modification. So, homeowners struggling with mortgage problems and are seeking loan modification program have to be very careful about their modification packet required by the lender. Your application and eligibility will be determined based on the packet with complete documents, such as 2 most recent paycheck stubs (for Salaried Borrowers), YTD P & L (for Self Employed Borrowers), an Application with accurate and acceptable financial statement and a Hardship Affidavit with properly explained reasons. If your application gets approved after reviews you may get an interest rate as low as 2% with chances of principal reduction and a very affordable mortgage payment.

The new HAMP update 2010 has outlined a timeframe solution that borrowers requesting for a loan modification will be acknowledged within 10 days and upon receipt of application package lender will be provided approval or denial within 30 days. Moreover, upon approval, the three months trial period will become automatically permanent. The program also offers other option such as short sale or deed-in-lieu to those homeowners who could not meet the qualifications.

Homeowners facing financial difficulty and struggling to make monthly loan payment may try mortgage modification calculator to find out if they are eligible or can qualify for the program. They may also attend any free Wells Fargo Loan Modification workshop to explore details of its application process and success rate etc. But homeowners are advised to furnish the loan modification paperwork with accuracy and acceptable information in order to increase the chances of approval. Any homeowner experiencing any sort of denials for modification program despite their proper application can file class action lawsuit against the servicer for such fraud. One can also bring to light their nightmares about the services of the lender through the forum. Homeowners working with Wells Fargo Loan modification can keep track of their modification status online all throughout the process.

Homeowners having questions about Wells Fargo Home Mortgage or any complaint regarding loss mitigation etc. may contact the following phone numbers. Any payment assistance can also reach through these contact numbers. Borrower counseling services are available Monday through Friday from 8:00 am - 9:00 pm and Saturday from 9:00 am - 2:00 pm.

(877) 216-8448 or
(866) 261-5642 or
(800)766-0987 or
(800) 678-7986

The Wells Fargo Loan Modification fax number is 1-866-359-7363. For more details on wells Fargo loan Modification please visit the official website of the bank. One will also find the examples of hardship letter, several rules and details of other important information.

Website: http://www.wellsfargo.com