Wells Fargo Home Mortgage, which is the largest home mortgage originator and second largest mortgage servicer in the country, had already supported the federal government move to prevent foreclosures by helping homeowners lower their mortgage payments through its home mortgage modification program, which included its own loans as well as the loans it had serviced for Fannie Mae and Freddie Mac.
Wells Fargo Mortgage Modification Program
You stand a good chance of success with Wells Fargo Mortgage Modification Program. The success stories of those who have succeeded in avoiding imminent foreclosures either by taking help from Wells Fargo Home Affordable Modification Program or Wells Fargo Home Affordable Refinance Program will certainly encourage you to seek assistance from the bank's mortgage modification department. The two programs are being described here in greater detail:
- Home Affordable Modification Program: It is meant for the borrowers who are delinquent in payment and find it difficult to keep current. They should call the phone number 800-678-7986 to contact the bank's official with certain documents, such as hardship letter, a financial work sheet showing expenses, household income proof, latest income tax return and information on second mortgage and payments on credit cards and other loans.
- Home Affordable Refinance Program: This is for homeowners who are current on their payments and also for those having loans guaranteed by Fannie Mae or Freddie Mac. Qualified homeowners facing payment problems are offered an opportunity to take advantage of today's low interest rate, no matter if the overdue payments exceed the value of the home. The program is available with all fixed-rate and a few adjustable-rate mortgage products. Borrowers associated with Fannie Mae can make a call at 1-800-7FANNIE whereas the Freddie Mac customers can use the phone number 1-800-FREDDIE.
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