Please help!

[niuniu]

I'm brand new , and thank goodness I found it!

We bought this house on May 2007 in Arizona, it is a 30 yrs fixed at 6.375%, loan amount is $280.000 now.

Yesterday, We have received one mail from Wellsfargo, They need us to fax some inoformation:

financial worksheet
tax return for ....
Proof of income
listing agreement
signed purchase contract/Est. Closing statement
Hardship Explanation
buyer's pre-qualification letter

if all of this information or a requet for an extension is not received within 10 days, we will consider this requet cancelled.
please note any collection and foreclosure action will contine uninterrrupted untill approval. Therefore, a timely response is essentail. .....


How do we do before fax those information? We want to keep our house, Please give us some advise, Thanks.

[Dan Bailey]

niuniu,
Glad you found the forum and posted.

If you are behind on your mortgage, and if Wells fargo is your mortgage holder...

Call them to confirm this package was sent to you by them. I say this/ask these questions, because you seem very surprised that this request was sent


If that checks out...
What they are requesting is common for starting out a loan modification process. Send them the info.

If you need an example of a hardship letter and how to write one, it is here:Examples of a Hardship Letter

[niuniu]

Thanks Dan, We are not behind on Mortgage and no later payment.

The house was $326,567, but marking vaule is around $240.000-$270.000 now. We was tried to refinance, it didn't work. Wellsfargo told us that we can use loan modification to lower loan rate, So we have faxed some information before 1 and half month ago: one paycheck, one Hardship Explanation, one month's living expenses.

one more question: if we can't do loan modification, we will lost it?