I asked for a modification from Wells Fargo last year. After many months of confusing payments directed by Wells Fargo's well trained staff (Hah!) I was told to pay this and then told not to worry and don't pay that for many months (6).
Finally after my 4000 phone calls I received a package for a loan modification with $200.00 higher payments. I called Wells Fargo and told them I could not afford the higher payments.
I was told if I don't agree with the modification terms MY HOUSE WILL BE SOLD!
Wells Fargo said this was the best they could do!
Now I am barely able to make the payments and Wells Fargo will not work with me to reduce my payments even though I have the income to make the payments at a lower plan.
I guess the Obama Plan to help people for a short time is a joke!!!!!
Wells Fargo Mortgage Loan Modification Answer:
by Wells Fargo Mortgage Loan Modification Expert - Dan North
This is something Wells Fargo and other lenders would like to have you believe but it is not true:You do not have to accept their first offer. You can make a counter offer and should if you do not benefit form the offered loan modification.
Make A Counter Offer By Qualified Written Request
Make your Qualified Written Request by following the directions at How To Save House From Foreclosure - 3 Ways To Stop A Foreclosure Sale and start writing your Qualified Written Requests. Make sure that you send carbon copies to the CEO, Legal Department, Public Relations Dept as well as your Loss Mitigation Officer and the Dept Head of Loss Mitigation. Send each separately so that it does not go all to one person in Loss Mitigation who will not forward it. Ideally send by registered mail but you can fax and/or Fed Ex the QWR's.
Apply for No-Upfront Fee Hardship Loan Modification Find out for yourself. Apply for no-upfront fee hardship loan modification even if you do not qualify for the Government Making Home Affordable Modification Program. You may qualify for a No-Upfront Fee Hardship Loan Modification. (Currently available in California, Oregon and Washington more states being added)
DIY Loan Modification Kit Are you looking for a DIY Loan Modification Kit that will walk you through the entire process of modifying you loan? Then read on. Gain the competence you need to submit and negotiate like a PRO - with real insider advice on how to negotiate a modification.