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Answers (8)
- Patti Omalley, "PattiOmaley"
- Contributions:22
Did you get the help you needed??
- Georgina OBryan, "GOBryan1"
- Contributions:483
Wells Fargo is very strict. I think they are a bit cranky because they were sort of forced into the bailout since they really didn't have a need for one but anyhow, that sort of helps the borrowers in where WellsFargo has to atleast consider a HAMP mod. See a reputable attorney that specializes in Foreclosure Solutions to help you. It's not impossible to obtain if you make enough income.
- JohnWilt
- Contributions:44
Wells Fargo is one of the worst to deal with when YOU need help. You should talk to an attorney that deals with loan modifications (I can recommend a few) or consider a short sale. The nice thing about a short sale you can usually get Wells to give you some time to sell. Make no mistake though, foreclosure is one sided and Wells is like bull. Talk to them and let them know that if you do not get some assistance you are either going to have to do a short sale or let them foreclose. They do not want anymore vacant properties so hopefully they will give you some options. If you do have to go with a short sale stick with an experienced shor sale agent. The will make sure all of your expenses (ie attorney, Realtor fees, title etc.) are paid for by Wells. Most importatnly, they will set you up with a good attorney to make sure you are protected. If you need anything else just call me. -John
- Nicholas Ribeiro, "NicholasRibeiro"
- Contributions:1807
Talk to your mortgage company about a possible short sale.
- sunnyview
- Contributions:25139
I think you have to do what you can to talk to Wells about your mortgage. Find out if you can correct the lates on your mortgage if you pay it on time for 6 months or keep it paid a month ahead. Ask them if they will remove the lates from your account.
If they will, you may want to also ask if you can be eligible for HARP or another govt sponsored program. There is a list of them here. It is great that you are getting back on track and it is worth asking WF if they can help you move forward.
If they will, you may want to also ask if you can be eligible for HARP or another govt sponsored program. There is a list of them here. It is great that you are getting back on track and it is worth asking WF if they can help you move forward.
- Sharon Lewis, "Sharon Lewis"
- Contributions:3923
Talk to your lender right away to see if you can work this out. I am so sorry to hear of your troubles.
- Philip Sencer, "Philip_Chicago"
- Contributions:551
Yes many of the banks, especially Wells and BOA do little to help people refinance since the Feds bailed them out. IF you have good income and other assets they might not see the need to help you. At minimum they tend not to get interested in your situation until you are 2-4 months behind in payments. Then they start the foreclosure process regardless of what 'mioght' happen later with respect to any refi or short sale.You might check with a couple of agents and get a market analysis of your property to see what the value is.
- Andy Linss, "AndyLinss"
- Contributions:122
There may be some relief for you if the Obama plan is approved by congress. http://blog.sfgate.com/pender/2012/02/01/new-details-on-refinancing-proposal-for-underwater-loans/ This might allow you to refinance to current rates without a re-appraisal, but there will be stipulations regarding missed mortgage payments that you must have met in order to qualify. You might review your own payment history and determine how to get to the point of qualifying as soon as possible (assuming it passes). Other than that, know that you are not alone.
My Wife and I are underwater on our home. We have been late on our mortgage recently.
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