Wells Fargo Modification

[bongocheetah]

I also applied for my Wells Fargo loan mod about 2 months ago. I have been calling every week to find status, sometimes twice. I am three months behind. I have two questions that I have trouble getting answers to, from WF or anyone else:

1. Since I am three months behind by 10/15, I received a letter from WF that they would start acceleration process to foreclosure on 10/16. When I talked to loss mitigation yesterday, they said that they have ordered a BPO and I still have to wait for a few more weeks before loan mod is decided one way or the other. On my question about the foreclosure letter, the person said that foreclosure process will continue regardless but if loan mod is decided they would halt it. My fear is whether or not there is a chance of load mod review not completing in time and WF starting foreclosure. I don't want to loose the house. Should I try and arrange for three months arrears and pay - though it is going to be difficult for me?

2. What happens to the missed payments whenever they finalize the review of loan mod? Do I have to arrange to pay the missed payments? I need to know so that I start arranging for funds.

Thanks

[Moe Bedard]

bongocheetah,


Here is your thread so that we can answer the questions for you here and also you can post updates on your situation for us to follow........

You would need to contact Wells Fargo at the number below to see what the options are.........

Wells Fargo
1-877-216-8448

The modifications given are up to the investor on the loan.........in some cases they will put the past due payments and fees back into the principle balance and have you make a good faith payment if you rmodification is approved, that will usually amount to one month of the modified payment.

[COLLOG]

I can tell you that whenvever we have been under review with Wells Fargo we have never been put in foreclosure. We were put in foreclosure once earlier in the year becuase we broke our payment plan and they acted very fast and through us in another forebearance plan. My story is a lot different from yours but thanks to *** we have a very strong contact at Wells Fargo working for us we think.....