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Can anyone help?

Can anyone help? Bought in bubble years with 20% cash down and now upside on the loan anywhere from 115% to 130%. Paying near 6% interest. Loan originated and serviced by Wells, not held or guaranteed by Freddie or Fannie or by the bank; told it was sold to private investors. Looking for options from a minimum refi to modification/principal reduction. Current on all payments. Any suggestions?

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September 27 2012 - Staten Island
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Answers (3)

Your best bet is to call Wells Fargo everyday until they adjust your loan period.
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September 27 2012
Pretty sorry to know your situation!  In general, for loan modification,
you'd better to contact your current lender and work with loan originator
to see what kind of program can meet your criteria.  

They will evaluate your financial situation such as income, debt ratio,
LTV (loan to value) plus the current house market value ...etc to figure
out what principal reduction can be for your case.  Lender doesn't want
to take over your property if your financial situation still in good shape.

  
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September 27 2012
Contact a Zillow Preferred loan officer in your area and meet with them regarding a refi.

Request information from Wells as to whom owns your loan and contact them regarding the modification/principal reduction.

Hope this helps
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September 27 2012
 
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