AZ-Wells Fargo Loan file has been referred to our attorney with instructions to begin foreclosure

[thelebruns]

So I just received this letter in the mail. Our loan is for 185000, we are 7000 behind. We started making our payments once we were able to. Our monthly payment is 1280 but we have been paying 1300 for the past 7 months. I called Wells Fargo to see if we could modify our loan and are waiting to hear back from them. How long does this foreclosure process take? I was going to send them another payment but she said they would send it back to us. What should we do??
Any advice would be greatly appreciated.

[Cat Damiano]

HI thelebruns,



Welcome to the forum and thank you for joining.........

If you have been referred to foreclosure, the lender will not accept anything other than the full amount due to reinstate the loan, they will not accept partial payments at this point. If you are approved for the loan modification, that amount will be capitalized back into the loan's principal balance.

For the modification process with WF, you can get started online, you do not need to wait to hear back, you can begin here;

https://www.wellsfargo.com/homeassist/loanmodification


The AZ State Task Force has good information in regards to the foreclosure process as well as foreclosure prevention steps here;

http://www.azag.gov/consumer/foreclo...ceWorkbook.pdf