Posted on: 05th Feb, 2010 08:16 am
Well I'm not sure if this situation applies to this group. I started my loan mod with wells fargo in june of 2009 and everything was looking good and I wa in the final phase also and now yesturday I received a letter from wells fargo saying I was denied loan mod. Because my ratio didn't meet the requirements, which by the way I emailed them with my paperwork and clearly. Qualified. I don't know what happend everything was going good. I am expecting a response from them any day.
They probably changed their guidelines. Does it say "commitment" at the top of your letter?
what they are probably did is send you a letter saying you didn't qualify for the stimulus loan mod that actually modifies your loan. you might still be in loss mitigation and still be in process to get a loan modification. they are differnt programs. call wells back demand to speak to a supervisor and get him to explain exactly where you are with which program. they are not the best a giving out information.
