Posted on: 10th Jul, 2009 09:59 pm
Wells Fargo stated over 30 days ago that they will get back with me in 30 days to tell me whether or not I qualify for a loan modification after I submitted documents. Well here comes a letter with payment plans for approx. 4 months-1st 3mo. to pay $600 and 4th month to pay $2900(My mortgage is $1045/mo.) Then and only then after the 4th payment they will deliberate and tell me if I qualify for a loan modification. Now any accrued interest and rest of the payments will be calculated in the 4th month bringing it to$2900-just for that month. To me this sounds like a total scam, figures do not add up, looks like I would be paying more, and credit may be jeopardize. Could I be in the ballpark? This is such a shame.
vlrhines
Welcome to mortgagefit
I have never come to this kind of situation ever in loan modification where it is decided after few months.......
Have you got the information from the authorised source or you just enquired it from any third party source??
May be this is something new in pipeline.........
:arrow: :arrow: :arrow:
keep in touch
Welcome to mortgagefit
I have never come to this kind of situation ever in loan modification where it is decided after few months.......
Have you got the information from the authorised source or you just enquired it from any third party source??
May be this is something new in pipeline.........
:arrow: :arrow: :arrow:
keep in touch