Wells Fargo Loan Modification, Get Free Consultation! Call 888-945-5553
Successfully Modify Your Loan With The Help of Our Loan Modification Experts!
How We Can Help You?
Absolute Consultant Group has helped hundreds of our valuable clients with Wells Fargo loan modification and can help you as well. If you are in the process or need to apply for Wells Fargo loan modification, don’t hesitate, just give us a call or fill our form and we will be your right hand in this process.
Everything You Need To Learn About Wells Fargo Loan Modification Process, Package and Status
About Wells Fargo:
Wells Fargo is a nationwide, diversified and community-based financial services company. It was founded in 1852 and headquartered in San Francisco. Wells Fargo provides banking, insurance, investments, mortgage, consumer and commercial finance through more than 8,700 locations, 12,500 ATMs and the internet.
Modify Your Loan:
If you cannot afford your current mortgage due to a financial hardship and you want to stay in your home you may be able to modify your loan terms such as interest rate or the time allowed for repayment to make your payments more affordable. Any change in the original terms is called a loan modification. There are multiple modification programs that are available for you including the federal government’s Home Affordable Modification Program. Different options are offered for the borrowers by these programs in different situations, but all of the programs have the same purpose; to help people to keep their homes when they are facing a financial hardship. They will work with you to determine whether a wells fargo loan modification or another option will work for you or not.
Homes with Negative Equity:
According to online real estate market place there are approximately 13 million US homes with mortgages in a negative equity situation. In addition to negative equity, hardship and rising interest rates have made many homeowners unable to afford their monthly mortgage payments. For many families, the only hope they have of keeping their homes is to secure a loan modification that reduces their payments and makes their home affordable. Wells fargo loan modification is a better otpion for distressed homeworner that have their mortgage wtih wells farg.
Wells Fargo Loan Modification Process, Get Expert Help Calling 888-945-5553
Home Loan Modification Programs:
The US Department of Housing and Urban Development has attempted to facilitate the foreclosure crises with programs that are designed to encourage the lenders to modify the loans and provide homeowners with tools and resources to help them in obtaining a Wells Fargo loan modification. Particularly many homeowners have supposed difficulties working with the Wells Fargo. Whereas Wells Fargo is one of the nation’s largest institutions that is currently processing loan modification requests from the millions of customers. There are many happy homeowners who have successfully achieved a Wells Fargo loan modification. MSN Real Estate has provided several tips to get you started down the path to maintaining your home with affordable payments.
Wells Fargo Loan Modification Process:
How Loan Modification Can Help You? Through the process of loan modification;
- You avoid a foreclosure sale. Even if one is already scheduled, they may be able to postpone it while they review your information.
- You make lower payments. Your modified payment amount is based on your current financial situation and takes your hardship into account.
- It may be less damaging to your credit score than a foreclosure sale.
Important Considerations About Loan Modification:
With the Wells Fargo loan modification process it should be kept in mind;
- A loan modification changes your loan permanently, so it may not be an option if you are facing a temporary hardship.
- If you have a home equity loan or any other liens on the property, they may need to be addressed separately from your first mortgage. Make sure you contact any other lien-holders to find out what options you may have.
How does Wells Fargo loan modification process works: – If you are considering a loan modification then here is a step-by-step demonstration showing how the process typically works, from start to finish.
Talk To Your Home Preservation Specialist:
- Provide your home preservation specialist with your financial information, a reason for hardship and any additional documentation requested.
- Your home preservation specialist will be your single point of contact throughout the Wells Fargo loan modification process.
Review Of Your Wells Fargo Loan ModificationRequest – Approximately 30 Days
- They review the complete package of required documents that you send to them. They will notify you within 5 days to confirm your package is complete or to let you know if information is missing.
- When all required documentation is complete, they will determine your eligibility. If you are eligible, your home preservation specialist will provide the decision and follow-up with you to set up your trial payment plan.
Trial Period – Approximately 90-120 Days
- You make a number of trial payments in an amount similar to the amount you would pay with a loan modification.
- Your home preservation specialist will monitor your trial period for on-time payments.
Final Modification – Approximately 45 Days
- If you successfully complete the trial period plan, and meet all other requirements, they will finalize your modification agreement and send you copies to sign and return.
- When you return the signed modification agreement within the required time frame, they will process the modification and send you a finalized copy. At this point, the modified terms replace the original terms of your loan.
Submit Wells Fargo Loan Modification Documents and Check Your Status:
If you are working with them on Wells Fargo loan modification then use Wells Fargo Homeowner Assistance Website to provide required documents and track the status of your request.
- Click Check Status, which will take you away from wellsfargo.com to the homeowner assistance website.
- Verify Your Account by entering the last 4 digits of your Social Security number, your loan number, and your property ZIP code.
- Review Your Wells Fargo Loan Modification Status to see where you are in the process, and what you need to do next.
- Select The Upload Documents Link and follow the instructions to submit required documents electronically. Uploading your documents allows them to start processing your request sooner than if you send them by mail or fax.