Hi All:Hey Everyone,
This is something that should have been done a long time ago and I figured we should stick a thread here for Wells Fargo success stories. Whehter you have received a loan modification, refinance, or even a short sale/DIL, please feel free to share your success stories here for everyone's benefit
I haven't had a chance to post my success story but success with Wells Fargo IS possible. It was a long four year fight but we were finally able to secure a permanent loan modification February 2013 through HAMP.
Original Loan balance $586,000 (the original principal balance was $517,000 but it was through the horrible Pick a Pay loan program and our interest was inflated by 2% every June beginning 2010)
Interest Originally 4% and ended at 8%
Monthly Payment of $2,600
*Plus an additional bankruptcy monthly payment of $1650. Throughout the course of the modification process, Wells Fargo attempted to foreclose on my home as were in arrears. The first time we called to inquire about a loan modification, we were told by the Loan Mod Officer that we our application would not be reviewed unless we were at least 3 months behind. We had to file for BK to save the house and continue the modification process (which is inconsistent with HAMP guidelines stating that foreclosures would not occur if we were in the middle of the modification process).
Loan balance of $326,000
Amount forgiven $260,000
New monthly payment: $2,018.00 (this includes property taxes and hazard insurance)
Bankruptcy has been discharged