Foreclosure and Loan Modification Blog

3 Common Wells Fargo Loan Modification Problems

If you're having problems with your mortgage, it's a good idea to communicate with your bank to see if you can work with them for some sort of agreement to stay out of foreclosure.

Your bank can choose to give you an unemployment forbearance that temporarily suspends your mortgage payments because of a job loss, for example. Or, if you're already behind on your mortgage payments due to a hardship, you may be able to get a loan modification that reinstates your mortgage with a more affordable payment.

Loan modifications are the only option many homeowners have to keep their home. The terms of the loan, such as the length of the loan, the interest rate, and the principal balance can be changed.

Loan modifications are a life saver for those who get them. Unfortunately, many Wells Fargo borrowers end up disappointed when they don't get the results they're looking for after trying to deal with the bank on their own. And Wells Fargo has a reputation as one of the most difficult banks to work with for a loan modification.

Successful Loan Modification Roundup Week of 9/2

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners, here are a few of their stories.

Every week we obtain loan modifications for our clients with a variety of loan servicers. You can see these results as they are announced on Twitter (#loanmodwow) or Facebook. Here are some of our results from this week, which include results from Nationstar, SPS, Wells Fargo, and others:

Nationstar

8 years behind on mortgage payments to Nationstar, our client was approved for a loan modification with lower payment and interest rate, $88k principal forgiven, and $265k deferred!
This in-house loan modification got our Nationstar client a fresh start with a cheaper payment and 2% lower interest rate!

5 Years Behind with Wells Fargo, This NY Client Avoided Foreclosure

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners, here is one of their stories.

In February of 2015, we were hired by homeowners in Brooklyn, New York who wanted to avoid losing their home to foreclosure. To protect their privacy, we'll call them the Voshenkos.

The Voshenkos were in very serious trouble when they came to us. They were in foreclosure because they hadn't made a mortgage payment to Wells Fargo in more than five years. But they wanted to find a solution to keep their home, so we started working on their case.

Successful Loan Modification Roundup Week of 8/19

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners, here are a few of their stories.

Successful Loan Modification Roundup Week of 7/8

Disclaimer: These results should not be taken as a guarantee, as each case is unique. We have helped over 7,000 homeowners.

Every week we obtain loan modifications for our clients with a variety of loan servicers. You can see these results as they are announced on Twitter or Facebook. Here are some of the results from this week, which includes results from Wells Fargo and others:

Wells Fargo Loan Modification Success

[fa icon="clock-o"] Friday, July 8, 2016 [fa icon="user"] Maxwell Swinney [fa icon="folder-open'] wells fargo loan modification, 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.

Many people who were on the outside looking in at the foreclosure crisis didn't understand that many peoples situations were seemingly made worse by attempting to rectify their situation with their banks. This is probably why Washington never came up with an adequate solution to the foreclosure crisis.

Stop. Hammer-time! On the Sale Date

Consider the case of this homeowner- he had been fighting for a loan modification on his own for years prior to retaining us. Two years prior, he had lost his job and attempted to get a loan modification on his family's home, because he couldn't afford his mortgage payment, which was nearly $3500 each month. He was granted a pre-modification trial payment plan. He made the trial payments, but his bank, Wells Fargo, said he owed too much on the property for them to complete a loan modification. Afterward, Wells Fargo suggested that he try a modification again, but his house was actually sold via foreclosure auction when his modification documents did not arrive in time (the sale was rescinded afterward). By the time he retained us (April 2012) another sale date was already set on his house and he was tired of handling the situation on his own.

The Wells Fargo Grinch Who Wrongly Foreclosed at Christmas

If loan modifications were the holidays, then Wells Fargo would be the Grinch. While the other big banks have been known to make life difficult for homeowners who are facing foreclosure, Wells Fargo's loan modification unit is among the worst. How many American homeowners have they spoiled Christmas for this year?

Loan Modification Success: Wells Fargo Payment SLASHED $1,700!

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.

This New York homeowner had an investment property that he was renting out to tenants, and had fallen behind on his $4,875.41 mortgage payment (at a 4.875% interest rate) to Wells Fargo after losing his job. He had already successfully obtained a loan modification in the years before, but was simply not able to pay for this house under the current terms.

[fa icon="clock-o"] Sunday, October 27, 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.

Contrary to popular opinion, a lot of the people who lost their homes during the recent foreclosure crisis were under the burden of extenuating circumstances other than losing their job. That was the case with this homeowner. He was disabled and could no longer work full-time. He did his best to scrap by on the income from his disability checks and part-time job, but could not manage to pay his $1,100 mortgage note any longer. By the time this homeowner retained our foreclosure defense law firm, he was already over 3 years behind on paying his Wells Fargo mortgage. He had been working with another law firm to attempt to cancel a sale date that was placed on his home, but now he was looking for a law firm who could actually change his situation, not just delay the foreclosure process.

[fa icon="clock-o"] Sunday, October 20, 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.

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.

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

3 Common Wells Fargo Loan Modification Problems

Successful Loan Modification Roundup Week of 9/2

Nationstar

5 Years Behind with Wells Fargo, This NY Client Avoided Foreclosure

Successful Loan Modification Roundup Week of 8/19

Successful Loan Modification Roundup Week of 7/8

Wells Fargo Loan Modification Success

Loan Modification Success: Wells Fargo Can't Touch This Home

Stop. Hammer-time! On the Sale Date

The Wells Fargo Grinch Who Wrongly Foreclosed at Christmas

Loan Modification Success: Wells Fargo Payment SLASHED $1,700!

Loan Modification Success: Wells Fargo 30% Payment Reduction

Loan Modification Success: Outstanding Wells Fargo Principal Reduction

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