Does Wells Fargo usually deny loan modification?

Hi Drak!

Welcome to forums!

You should contact your lender and check out what happened with your loan modification application and request them to reconsider their decision.

Feel free to ask if you've further queries.

Sussane

Which, Drak, I'm sure you've already done. There is, unfortunately, mindless pap that masquerades as helpfulness.

Keep at it Drak...you never know when you'll hit it.

WELLS FARGO GAVE US A MODIFICATION PAYMENT PLAN TOOK THREE PAYMENTS THEN SAID WE DIDINT SEND ENOUGH PAPER WORK THREE MONTHS LATER

Hi RYAN!

Welcome to forums!

If the lender had already given you a modification plan, then you must have documents related to that. Unless you have submitted proper documents, the lender may not have given you the temporary modification. You should negotiate with the lender on this ground. You can even re-apply for modification and check out if the lender can help you.

Feel free to ask if you've further queries.

Sussane

Not sure about the above, Ryan, but keep at it. If you have to call them every day, it might just be worth the trouble and the time.

We have been trying to get a loan modification and they are impossible to work with. They make us keep sending financial reports every month, we paid our trial period with the adjusted loan rate every month on time and they are now saying our house is going to the sheriffs sale. WTF do they want, so confused We still haveno idea why weare being denied. Unless you are desperate do not do loan modification they will try to seel your home, we actually offered to pay all the money we owe and keep the normalmortage rate and now they dont nt that eiether?????

Hi linz!

Welcome to forums!

I can understand how you're feeling. You should once again try and negotiate with your lender so that he allows you to pay off the delinquent amount in full and lets you keep the normal mortgage.

Sussane

wells fargo sucks ass and will have 2 more forclosed properties on their hands because they do not negotiate. i have tried everything...to no avail.

Guest, your post wasn't very polite, but you also didn't give any details as to what transpired with your modification request. If you're seeking any advice, please make your request in the form of a question - that's going to work a lot easier for all of those who view it.

thanks.

Loan modification is not the answer. We are real people helping real people.

With loan mods, the banks are in complete control and you are left begging with your hat in your hand. Why would banks WANT to help you if they don't HAVE to? Often they make more money through foreclosure than allowing a homeowner to stay in the home. The bank is NOT your friend. Loan mods haven not been the answer. Thes a BETTER way. One that gives you some leverage.

You CAN save your home or get the banks to work with you, even if your payments are on time or you're not behind. Of course the banks want you to THINK you have no options other than loan mods. But you do.

Visit our site now and find out how at NO COST to you. Is free info. You have nothing to lose except your home if you do nothing.

House Hope (dot) info

Well, HHInfo, I went to your "site" and found only a brief descriptive letter that tells us (anyone) to fill in the blanks and wait for an email. Frankly, I wish there was more data available for homeowners to see on your "site."
It seems pretty good that you'll not ask for any upfront money, but you've not said anything about what you do, who you are, etc.

Before I'd ever suggest anyone contact you, I'd want to know more about those two items. And that 97% factor you mention is barely believable for me, so color me a skeptic anyway. Of course, I've always been skeptical about promises made with no documentation aforehand.

What is it that you do that separates you from the hoi polloi?

Hi! I have been working with Wells Fargo nearly three years now. I was denied HAMP (Home Affordable Modification Program); however, they never notified me of the denial. I continued to make the reduced monthly payment until they began applying the payments to late fees. I have continued to update the financial worksheet, hardship letter and proof of income every 60 days as required. I have not heard from a Wells Fargo rep since May of 2010. I have requested at least three times for the processor to contact me. Foreclosure is suspended while I am in review for modification. I keep plugging along. I have contacted HUD counsellors twice. I'm not sure what else I can do.

I guess my question is, at this point should I contact a foreclosure attorney or file bankruptcy to try to push this forward? Bankruptcy is not what I want to do. All my bills are current except for the first mortgage.

I was able to purchase a new/used vehicle. They could see that my credit was good aside from the mortgage and I even managed to get the vehicle loan through Wells Fargo Dealer Services. Image that!

Susan, you don't begin a foreclosure action, the lender does. Finding a foreclosure attorney isn't anything you'd ever need to do. Getting representation to defend yourself is something you might wish to do, though. If you're not modified, but you're still paying the mortgage, I'm not quite comprehending why you even consider bankruptcy here. Do you desire to lose the home to Wells?

Car loans are handled in a completely different fashion than mortgages. I can understand your chuckle at the same company having granted you the car loan, though. One hand truly doesn't know what the other is doing (hey, that's biblical!).

I've been trying to get a loan modification from Wells Fargo for 8 months. I've sent in the paperwork numerous times, which they lost several times, and I even sent it by fax and Fed-Ex. Finally, they are admitting they have all the paperwork they need, and that they will let me know within a week what decision they made. It's been two weeks now, and although they continue to call me every single day "just to stay in touch", I still have no response. At this point, I'm wondering if I should get a lawyer. What does a person have to do to get them to make a decision? I don't want to keep paying what I can pay and not have money left to rent an apartment for me and my son.

You should keep in touch with the lender and ask him/her to take a decision asap in regards to your loan modification. Taking the help of an attorney is a good option but you will have to pay the fees of the attorney as well. If you can afford to pay the fees of an attorney, you can take his/her help in modifying your loan.