Check this out.. my brother new mod !! all in 2 weeks

[givemeabreak]

I helped my brother by using the tools I learned on this site for a mod. His original loan was taken with Franklin and transferd to Wells Fargo right after the loan was closed on Jan 2009 with a 5% fixed for 196,000.. and mortgage was 1052.00/month now the new one is for prinicipal amt. is 158,000 and at 3 % fixed 30 years 636.00 /month. The funny thing we submitted the proposal only 2 weeks ago!!

[chestergh]

Congratulations. I think wells fargo is moving faster these days. I submitted mine a couple of weeks ago and they denied me saying the difference between the monthly income and the monthly expenses at $900 is too high. I am in the process of re-adjusting my income and expenses for submission tomorrow. Can you tell me how much balance your brother had between income and monthly expenses? Did he report any assets or retirement savings such as 401k, etc? Please give me as much details and numbers about your brothers application so I can use it as guidlines since we both have the same Bank and it seems our loans were transfered just about the same time..lol?

[Againsttheodds]

So your brother got a $38,000 in principle reduction and also 3% for 30 years within 2 weeks? I have to say, you're the first person I heard on this forum and other's. You guys must have caught Wells Fargo on their good day!