When you realize that you are facing the foreclosure of your home, it is a very frightening time. Besides the obvious concern of where you will live, you look toward your financial future with concern. You know you may never have another chance at home ownership, and your credit rating will be destroyed. In the current business world, potential employers, landlords, and others will request your credit report. This can severely impact your options. Maybe a Wells Fargo Loan Modification can change your future; it is certainly worth the time to find out.
President Obama’s Making Home Affordable Program is available at just the right time to help homeowners who have fallen into mortgage difficulty through financial hardship. It has very favorable terms, and it actually benefits you in the future with a lower, more affordable monthly payment. The goal of the program is to give a homeowner a monthly payment that is 31% or less than your gross monthly income. This payment also includes taxes and insurance!
Before you give in to the inevitability of a foreclosure, you should certainly see if you can work out a modified mortgage with Wells Fargo through this program. Wells Fargo is much more motivated to work with you because this government-sponsored program pays them $1000 for each modification they complete.
You do not want to face all the unpleasant consequences of a foreclosure, if you can avoid it with a Wells Fargo Loan Modification. You should begin to investigate whether you meet the application guidelines today.
By Nicole Davidson