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Web: Loan Modification – Wells Fargo
A loan modification changes your loan permanently, so it may not be an option if you're facing a
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A loan modification changes your loan permanently, so it may not be an option if you're facing a temporary hardship. ... Where appropriate, Wells Fargo Bank, N.A. is required to inform you that, as your account servicer, we are attempting to collect a debt and any information obtained will be used for that purpose. However, if you are a ...
If you have questions or want updates during the review period, check your status online or call your Wells Fargo home preservation specialist. As soon as the review is done, your Wells Fargo home preservation specialist will let you know your options. If Your Loan Modification Isn't Approved
Applying for a loan modification does take some effort. You've got to supply documents, double-check forms, and meet deadlines, and it's essential that you stay on top of the process. Some possible factors determining whether you'd qualify for a loan modification include:
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In August 2018, Wells Fargo admitted that a “software error” caused it to deny hundreds of borrowers who actually qualified for and were entitled to a loan modification under HAMP. Wells Fargo allegedly used its own software to calculate a borrower’s eligibility for HAMP rather than use the tool developed by Fannie Mae for this exact purpose.
Tips to apply for a home loan modification with Wells Fargo. Things you should know when applying for a Wells Fargo Loan Modification: Depending on your individual circumstances, Wells Fargo may be able to work out an alternative repayment option that can help you get out of default and back on your feet and the right path toward home-centered financial security.
Wells Fargo Admits Loan Modification Error, Wrongfully Foreclosed On Homes. A quarterly filing with the Securities & Exchange Commission in August 2018 revealed that Wells Fargo made an “error” in denying mortgage modifications to hundreds of borrowers. The securities filing says that Wells Fargo discovered a “calculation error” in its ...
The lawsuit alleges that between 2010 and 2018, Wells Fargo miscalculated attorneys’ fees that were included for purposes of determining whether a borrower qualified for a mortgage loan modification under the U.S. Department of Treasury’s Home Affordable Modification Program (HAMP).
Explains the reasons for your hardship and verifies information about you, co-borrowers, previous loan modification applications, and the property. You may be asked to provide this information as part of the homeowner assistance process. Your home preservation specialist will tell you which form you should use: MAA - core application
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