Loan Modification with Wells Fargo
Good morning, Please Help !! We are nine months behind on our mortgage and have been trying to get a loan modification on our loan for seven months with Wells Fargo. We have not had much luck in doing so. Its seems the longer the process the more of a hardship this all becomes. Today was the first time in six months we have received any paperwork in regards to the status of our loan. Its a special forbearance with a payment due of 1171.99 and a balloon payment of 20,297.18. I am currently unemployed and collecting unemployment. My spouse is currently working. Its been nine months and fear that a foreclosure is right around the corner. We care concerned that signing the agreement would make us liable for the balloon payment which in no way we can afford. We have depleted our savings and cutting cost in every which way. We feel as though we would be able to make our monthly payment and start fresh would allow us to keep our home and maybe help repair our credit! We need help. Please advise !! Not sure what to do. We feel as thought a loan modification can allow my family and my self keep this home. Hope that you can help!! Thank you
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IMPORANT NOTICE – PLEASE READ There is no guarantee you will receive a loan modification. Even if you accept this offer and use our service, your lender may not agree to change your loan. Loan Modification approval is dependent on criteria including but not limited to hardship, income, debt ratios. American Foreclosure Specialists is not a Bank, nor a government agency or government affiliate. Our services are not approved by the government or your lender. American Foreclosure Specialists assists in the document preparation, working with and communication with your Mortgage Bank in the attempt to acquire an approved Loan Modification. If you stop paying your mortgage, you could lose your home and damage your credit rating. Loan Modification Plans are dependent upon mortgage company criteria and financial information gathered as part of the efforts of AFS. The information and notices contained on this website are intended as informational and should not be regarded, as financial or legal advice. AFS attempts to ensure that the material contained on the website is accurate and complete at the date first published, however you should recognize that information contained on this website may become out of date over time. Readers who have particular questions regarding real estate law, finance, or who believe they require legal counsel, should seek the advice of a financial advisor or an attorney. Submitting a contact request, gives AFS consent to contact you by telephone and/or email, even if you have previously listed yourself on any state or federal Do-Not-Call List.