Wells Fargo Mortgage Refinancing and Modification Options,Well-known rating agency Fitch report released on the 15th showed that despite the recent release of U.S. housing starts and existing home sales data is showing the country’s real estate market has bottomed out, but the recovery rate may be relatively small, and the whole process of recovery may be long up to 18 months.
Wells Fargo refinancing and home loan modification is now easier, and more beneficial, than ever before. President Obamas housing stimulus plan now allows homeowners a chance to refinance or modify their home loans into affordable monthly payments, and Wells Fargo is participating. Millions of homeowners can use this plan, and here is how:
This plan has over $75 billion allocated to it, and most of that will be given to mortgage lenders and banks as cash incentives to help struggling homeowners. This cash incentive will allow mortgage lenders and banks to approve more applications for refinancing or home loan modification because they have less risk of losing money. This also allows homeowners who have been denied before, or just think they would never qualify, for a mortgage modification or refinance. Wells Fargo is following the guidelines form Obamas plan and is now offering refinance and modification options to homeowners who would not have been approved prior to President Obamas plan.
Another great part of this plan for homeowners is that now a home can be refinanced or have its loan modified even if the home has lost value. The tough economy and housing market have reduced home prices by a lot. Now, a homeowner who has seen their property values drop by 15% or more can refinance through Obamas stimulus plan, and Wells Fargo. Also, a homeowner may actually owe more on their loan than the homes actual market value, which previously would automatically disallow them from refinancing or getting a home loan modification. Now though with Obamas “Making Home Affordable Plan” homeowners who owe up to 5% more than their homes worth can refinance or get a loan modification into a lower, more affordable, monthly payment.
Millions of homeowners can easily use this plan to their advantage and save a lot of money every month. With lenders as big and reputable as Wells Fargo, a homeowner knows they are getting the best possible. This plan should restore home values, stop foreclosures, and help the whole economy. You owe it to yourself to use this plan and secure your financial future.
Wells Fargo Mortgage Refinancing and Modification Options,Analysts believe that the high unemployment rate caused by the demand and the deteriorating credit quality of commercial real estate, as well as lack of access to government assistance and was forced to a wide range of foreclosure cases there will also be in for a long period of time continue to U.S. real estate market to exert a negative impact on the recovery process.
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on Oct 4th, 2009 at 5:12 am
I am writing because I have a mortgage with Wells Fargo on my home in Florida. Initially, it was supposed to be our primary residence, but then, when our children did not want to move there with us, and we decided to keep our Massachusetts home, the Florida house became a second home we had not planned on. We paid the mortgage on our own for two years, and then decided to rent it to get some help with the expenses. Up until August of 2009, we have had the same tenants, almost for two years. Now empty, we are back to paying the bills on our own, the house has lost value, (it was built in 2005), and we have a variable note at 6% until September 2010. We do not want to foreclose, or in any way destroy our credit. We pay the bills, are both employed in good jobs, and take pride in our homes. We just want to refinance to a fixed 30 year affordable rate, and continue on from there. We are not looking for a bailout, but do believe as US Citizens we should be helped out, in our own time of need. All the other programs out there are for FHA loans. We have a Wells Fargo loan, and I was hoping when I found this web page to find an answer to our dilemma. Is there anything out there for us?
on Oct 18th, 2009 at 7:02 am
Great blog! I posted some comments before anyway, because a lot of your stuff is really great. You are a verry good at this.
on Nov 5th, 2009 at 2:14 am
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on Mar 13th, 2010 at 9:58 am
i’m writing for margaret defranco shes 70 years old she purchased a home in fl paid cash for it in 2008 she was hit with a inhouse robbery that took all her cash flo her income cames from a pool business and only between april and oct she was robbed in sept no time to earn money for the winter other personal problems and the robberys push her dementia to full alzheimers its taken me 18 months to dig her out so she can pay the mortgage on her home but due to both mine and her illness we haven’t been able to get the mortgage loan modified now wells fargo is going to forclouse any day i should say if we paid cash for the house why did it have a mortgage its because in addition to the robberys we were scamed buy our attorney out of 500,000.00 cash we are sueing but can’t count on that
i’ve been with margaret for 25 years we only got married after she become sick i see no way due to no time left before forclouser but to file chapter 7 next week if its not to late i’m begging wells fargo to modify the loan i made a offer already 1000.00 a month for 16 months then 44 months at 2000.00 per month paid in full in 60 months if you can modify the balance and lower the interest rate i can co sign and apply my income i’ve made this offer many times ive even tried to get several cos that advertize help but the ones i contacted were rip offs please e mail me a name and phone number i can discuss this with a s a p you have my power of attorney on file
sincerely
albert bond poa for margaret defranco
on Mar 14th, 2010 at 5:53 pm
writing again for margaret defranco it will cost both margaret and well fargo more if you proceed with forclouser and force me to file bankruptcy to save the home please conceder a loan modification ‘
albert bond poa for margaret defranco
on Mar 21st, 2010 at 4:51 am
ITS BEEN A WEEK NO RESPONSE FROM WELLS FARGO PLEASE DON’T TAKE OUR HOME I’VE OFFERED TO PAY THE LOAN OFF INM 60 MONTHS
on Mar 21st, 2010 at 11:07 pm
I’VE HEARD NOTHING FROM WELLS FARGO PLEASE CONSIDER MY OFFER AND DELAY FORCLOUSER THEN WE CAN AVOID CHAPTER 7 OR 13 PLEASE PLEASE
ALBERT BOND P O A FOR MARGARET DEFRANCO
on Mar 21st, 2010 at 11:10 pm
JUST PRIOR TO PUR FINANICAL PROBLEMS I SPENT OVER 50,000.00 ON A NEW BOAT HOUSE PLEASE CONSIDER OUR OFFER OR MAKE YOUR OWN PROPOSAL
ALBERT BOND P O A FOR MARGARET DEFRANCO
on Mar 22nd, 2010 at 5:24 am
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