Foreclosure and Loan Modification Blog

Loan Modification Success: Outstanding Wells Fargo Principal Reduction

[fa icon="clock-o"] Saturday, September 14, 2013 [fa icon="user"] Jake Sterling [fa icon="folder-open'] wells fargo loan modification, successful loan modifications

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 5,000 homeowners, here is one of their stories.

Over $65,000 Saved!A married couple approached us for help with their Wells Fargo mortgage. They hadn't paid their mortgage for nearly a year, had been served foreclosure and were worried about the very real threat of potentially losing their home.

As soon as this couple retained (hired) us, we began working on their case and attacking every part of their foreclosure problem. On one hand, our lawyers began working to stop the foreclosure on their home. On the other hand, our team also began working with Wells Fargo to get a mortgage modification. Both efforts were extremely successful; all foreclosure proceedings were completely halted, and we were able to obtain a successful loan modification from Wells Fargo, who have a reputation as perhaps the most difficult bank to obtain a loan modification from.

Aside from the fact that the homeowners were able to keep their home, the most notable thing about this loan modification is that Wells Fargo offered the homeowners a fresh start by forgiving nearly $66,000 of the couple's balance on their home. Wells Fargo also reduced the couples' monthly mortgage payment to $1,004.27.

Wells Fargo Loan Modification Overview

July 2013BeforeAfter
Monthly Payment $1,046.79 $1,004.27
Interest Rate 5.8% 5.815%
Foreclosure Foreclosure Served To Homeowner Threat of Foreclosure Averted
Benefits to Homeowner ✓ $65,966.20 Principal Forgiveness 
✓ $143,750.00 New Principal Balance
✓ Principal reduced by 31%, foreclosure averted.

This is a great example of why it's of paramount importance to retain (hire) a foreclosure defense attorney to get you the best loan modification available. Amerihope Alliance Legal Services concentrates on giving homeowners the legal assistance they need to help them avoid foreclosure or have the best chance at a bright financial future. We have helped over 5,000 homeowners since 2008, and we're looking ahead to helping even more people in time to come.

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Jake Sterling

Written by Jake Sterling

Jake Sterling is Amerihope Alliance Legal Services' Homeowner Liaison. He helps to bring awareness and teach homeowners about foreclosure defense and options to save their homes.

About this Blog

Amerihope Alliance Legal Services is a leading loan modification and foreclosure defense law firm with attorneys licensed in 5 states. We have helped over 7,000 homeowners fight back and keep their homes.

Click to Read Our Super Loan Mod Success Stories

Our goal is to provide valuable information to help homeowners who are trying to obtain a loan modification or to stop foreclosure. You may schedule a free consultation at any time.

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