[P R]

loan? Can you get that for people who were laid off work?Wells Fargo is offering a lower payment for three months then to check into re-modifing my loan. Why can they NOT re-modify today? I am scared I will agree to something crazy and be stuck in a worse situation than before.... Should I take the help now even though I am not late on any payments? I want to stay above water here but doing it the right way! HELP!

[peggiec]

Don't deal with Wells Fargo, but am trying to get a loan mod from my mortgage company who just won't budge to give us one. They'll give a forebearance plan....then after 3 months (seems to be the magic number) will consider a mod. Makes no sense to do the same job twice. PS....my home is in foreclosure because I lost my job in September (plant destroyed by fire). Unemployment is 1/2 my normal wage and it takes both my hubby's and my FULL wage to survive. These lenders know that they have you over a barrel when it comes to foreclosure.

[Business man]

You should probably take it, there are no strings attached. However go into the local Wells Fargo real estate department and talk face-to-face with a loan officer.

[cdybrkcan]

I would suggest that if you are not comfortable with the proposed outcomes of a modification with your lender, to look into a Loan Restructurization possibility. The outcomes are typically much better for the homeowner than a standard modification.
You may also be due a refund from your lending if predatroy lending practices or loan violations are discovered .

[Komaraconsulting]

Be sure you can pay it if you agree to the repayment plan. Wells Fargo is one of the more complicated banks we work with. A lot of banks are requiring a repayment plan of some type to show the investor that you are willing to repay the debt. If you break a payment plan Wells Fargo is extremely difficult to get a second chance and they will require and heavy down payment