Wells Fargo Modification Approval

[COLLOG]

Wells Fargo contacted me by email yesterday. Notifying me that they have now contacted the VA for a modification approval. They also have put in for a title search of our home. So I am thinking positive. Can't imagine the VA would deny as it is in everyones best interest to modify our loan after the hell we have been through. Keep your fingers crossed

[1gringo1]

I personally don't think that will be an issue. They are the one who have the in and outs of that Valeri System. And if I understand it correctly they should give the authorization. And once they do, it takes several months as Wells FArgo says that this will be the final stage of the modification after they approve it, send you the documents to sign, then wait for it to reflect on your mortgage statement. Thats why I don't start paying until December, 2 1/2 months of no payments making it a total of 5 1/2 months of no payments with no upfront money as I had over $400.00 left in escrow. Good Luck and keep us informed-

[MRC123]

I am currently begininng the process with Wells Fargo, who is the servicer on our loan and Freddie Mac is the investor. We are still current on our payments, but I don't know if we will be able to make them come November, so I thought I would start now.

I have all of my information that I am going to start Faxing over this weekend and the HOPE counselor will also be faxing over some documents as well.

I did speak with Piya (sp?) in the Loan Servicing Dept and she said to fax my documents to 1-866-359-9585.

[1gringo1]

Welcome to the forum, is yours a VA Loan.? That is what mine was. They had me on a repayment plan that I couldn't afford. Went up over 120. per month. What I did was followed the advice on this forum, advice from the VA(contacted hope Now-they submitted all the financial info) AND FAXED documents for 3 weeks before they received them all. This process took 3 months. What was the result? All the past due-over $4000.00 put to the end-another 2 months of no payments-and an increase of 22.00 a month. Keep us posted-there should be other members along shortly with other helpful info. Wells Fargo is very difficult to work with.
Good LUck

[1gringo1]

I have been getting tons of letters from every known and unknown lender offering to re-finance my va loan, VA Payment relief loan , stream line VA loan,ect. Who gives these companies the right to troll through my credit to find out what my interest rates are and the fact that Wells Fargo has the loan.All of these offers are fraud,will cost you more in the long wrong, and you will pay a hefty fee.How in the world do you stop this miss. You work to get a loan mod now all of your business is easily accessible by every crook in the world. You fix one problem and wind up with another.Well-I think I will start sending them back-return to sender HMMM!!!

[MayBe]

Originally Posted by 1gringo1

I have been getting tons of letters from every known and unknown lender offering to re-finance my va loan, VA Payment relief loan , stream line VA loan,ect. Who gives these companies the right to troll through my credit to find out what my interest rates are and the fact that Wells Fargo has the loan.

Actually, the credit agencies sell your information - which can include the terms of your loan. If you check your credit report, (transunion, experian, equifax), you'll see all the scammers they have allowed to see your credit report YIKES!


According to the Fair Credit Reporting Act:

'You may limit "prescreened" offers of credit and insurance you get based on information in your credit report.

Unsolicited "prescreened" offers for credit and insurance must include a toll-free phone number you can call if you choose to remove your name and address from the lists these offers are based on. You may opt-out with the nationwide credit bureaus at 1-888-567-8688 (888-5OPTOUT).'

I called last week end and it was pretty simple.

It may not stop all the spammers, but it might help a little.

[1gringo1]

Thanks-but I did this a year ago-I wonder If this has expired?

[1gringo1]

Just called and added me and my wifes name, hopefully my junk mail decreases somewhat. I did notice my thread has been getting a lot of views lately. Hopefully this info will help all Wells Fargo mortgage holders and those with Va loans.

[COLLOG]

VA approved my loan modification today.

[nrc123]

wow this is great......I need to catch up on your thread....I see you posted on mine....I'm sure I'll have more questions after reading....but wow happy happy for you!!!!