Received Wells Fargo Loan Modification

Wells Fargo finally approved my loan modification and I was able to get my home out of foreclosure, but instead of lowering my mortgage payment they increased it. We needed the modification because we could no longer afford our payments. I'm confused, and not sure what to do or if there is anything I can do at this point.


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Loan higher after Loan Modification - What to do
by: Peter



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This is very strange that after your loan modification you now have to pay more. In your case I would consult Wells Fargo - your lender - to have them explain the outcome of the loan modification that usually is intended to make the loan more affordable for you. Without knowing your specific circumstances, it is hard to give a more advise than referring you to your lender. However, we all would like to read what the lender has to say and if they are actually able to make adjustments. Your experience may help others in your situation.
Feel free to share when you have an update.

-Peter, Washington D.C.

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