Posted on: 13th Nov, 2009 07:52 am
Hello,
We had a construction Loan with WF. We are presently? in foreclosure.
Can we still apply for HAMP? We also have a Chapter 13 BK, which
WF never accepted the plan.
Thanks,
bjhena1z
We had a construction Loan with WF. We are presently? in foreclosure.
Can we still apply for HAMP? We also have a Chapter 13 BK, which
WF never accepted the plan.
Thanks,
bjhena1z
hi bjhena,
has wells fargo started foreclosure procedure? if they have already started foreclosure on the property, it is unlikely that they will work with you for a modification. the borrower can qualify for the hamp (home affordable modification program), even if he is delinquent on the loan or if he faces the risk of imminent foreclosure. but once the lender has initiated the foreclosure proceedings, he might not be willing to work with you to modify the loan. however, you should talk to the loss mitigation department of wells fargo and check the possibility of hamp to avoid the foreclosure.
has wells fargo started foreclosure procedure? if they have already started foreclosure on the property, it is unlikely that they will work with you for a modification. the borrower can qualify for the hamp (home affordable modification program), even if he is delinquent on the loan or if he faces the risk of imminent foreclosure. but once the lender has initiated the foreclosure proceedings, he might not be willing to work with you to modify the loan. however, you should talk to the loss mitigation department of wells fargo and check the possibility of hamp to avoid the foreclosure.
To jenkin7,
thanks for answering. We will contact WF, we have not received any
paper work in regards to the foreclosure.
Thanks,
bjhena1z
thanks for answering. We will contact WF, we have not received any
paper work in regards to the foreclosure.
Thanks,
bjhena1z