Things you should know when applying for a Wells Fargo Loan Modification:
Depending on your individual circumstances, Wells Fargo may be able to work out an alternative repayment option that can help you get out of default and back on your feet and the right path toward home-centered financial security. They will help you to assess your financial situation to determine which option for a Wells Fargo Loan Modification is right for you, because a repayment plan based on where you are right now gives you an opportunity to get to where you want to be.
Before you contact Wells Fargo to discuss your options, prepare the following information:
Below are some of the repayment solutions Wells Fargo provides to its customers, if you want to apply for a Wells Fargo Loan Modification. Contact them to see which option may fit with your situation. You can also request payment help right now by
completing their online form.
|Option||How it works||Key benefits|
|Repayment Plan||Distributes your delinquent payments over a period of time, usually no more than 10 months. The monthly amount is added to the usual mortgage payment.||
|Loan Modification||Adds any past-due interest and escrow amounts to the unpaid principal balance, which is then reamortized over a new term.||
(only for FHA loans)
|The Department of Housing and Urban Development (HUD) advances a loan to repay the past-due interest and escrow amounts.||
|Short Sale||Allows you to sell your home and use the proceeds to pay off the mortgage if you are unable to maintain payments, even if the home's market value is less than the total amount owed.||
|Deed in Lieu of Foreclosure||Allows you to transfer your property voluntarily to Wells Fargo if you are unable to maintain payments and cannot sell the home at market value.||
You can reach Wells Fargo for further assistance at:
Monday - Friday
8:00 a.m. - 9:00 p.m., CT
9:00 a.m. - 2:00 p.m., CT
Or consult the official Wells Fargo website.
Are you in the Mid-Atlantic Region of the U.S., check out
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