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gmakerley · Posted: Wed Feb 17, 2010 9:39 pm Post subject:

i don't know that there's any specific law that covers modification requests. would the lender want to know about household income? of course, and they might request copies of tax returns to see what the situation is - that would make it pretty clear you are employed and earning money, of course.

i don't suppose there's any predicting precisely what they'll seek, but i have to surmise they'll want as much detail as possible so as to make an informed decision.

Niicss · Posted: Thu Feb 18, 2010 2:40 am Post subject:

If the mortgage is solely in your husband's name, then you do not need to include your income in the mortgage modification request. You do not even need to sign any documents related to it.

Guest

hello all
i make 8 dollars an hour to take peoples fin.info over the phone for wells fargo.
yeah im that guy you talk to when you call. so i am sitting in my car out side my house using my neghbors internet because i can afford cable/internet, to let you know, i acually care enough to tell people what it takes to beat this system, which is why i am doing this

Guest

what i do.... i take calls from angry home owners all day generally confused as to why they were removed from loss mit or they were denied a loan mod, so i have to calm them down and explain.

a common misconseption (if i show these guys i am in the hole at the end of the month they will want to help me)... false, if you show in the red at the end of the month to the program we use it will not help you, i know its sounds crazy and it is, but its true. your going to want to break even or come out slightly ahead. now this is the program we use not the loss mit dept.

Guest

i will post a lot more tomorrow night. im freezing out here.

if any one has any specific questions for me dont be shy

Guest

Then why have i been denied for making too much money and for not making enough money? This is all soo confusing...

gmakerley · Posted: Fri Feb 19, 2010 11:41 am Post subject:

that last post: "this is all soo confusing..." hits it on the head. there's no doubt that things are confusing. you think that making less money would make the lender feel bad for you and therefore grant some sort of modification to make payments lower for you, but they won't...then if you make too much money, you can afford the payments, so why would they do a modification?

explain...maybe you can take you $8 hourly and provide loads of information to the poor folk who are suffering and think they ought to be modified but don't get it.

Guest

Has anyone heard of 'get a loan modification' . com?
I am trying to find a company that will not scam you!

gmakerley · Posted: Fri Feb 19, 2010 12:21 pm Post subject:

dunno

Guest

To everyone out there dealing with wells fargo, they all lie and undermine anyone that is late. It doesn't matter if you make your trial payments or not. They are not going to modify your loan after that. That is just a way for them to get a little money out of you before they forclose. You are better off saving your money for other bills or saving for moving. No matter what you do they are not out to help you. I have been dealing with there lies for 15 months and believe me I know all of them. They will lie about everything. Please take my advice and donot send them anymore of your hard earned money. You will need it in the end to move and get another place. Your house will be worth alot less than you what you owe and it will take 5 to 10 years to recover your equity. You are better off letting it go for short sale and getting something else later. I think Wells Fargo is going to be in alot of trouble for all the unlawful things they have done. I hope they fold and go out of the picture for good. So I never have to see that name again.

Guest

well said billtell, i myself am fed up with the crap
heres what happens, i am in collections, offen confused for loss mit because there is no phone number for them, and they dont want us to transfer calls to them, they want us to get yelled at, try to figure out the problem from the home owner and then call them ourselfes to get an answer and then relay the info to the home owner, thats pretty much what i do all day.
the most helpful thing i can do is try to calm down these angry people who have been abused by this system and try explain how to beat it (if they can)

Guest

like i said we make 8 bucks an hour and most of my co-workers are kids fresh out of school... so your chances of finding some one helpfull are slim.

we use a loan mod pre quallification program called (early resolution) its just a calculator for expence and fin. info. if you take an hour or so to complete this program and we tell you something to the effect of (sorry i could not get you prequallfied today, im going to send a packet to you in the mail so you can submit this info to us by fax to 866-359-7363 so we can further review it)... dont waste your time. instead keep the person on the line and tell them you would like to update you fin. info right now. just play with the numbers a bit just to see what you would have to do to get a loan mod.. not telling you to lie, just research. you could say oh yeah i charge my cousin rent or i make the min. payments on my cards. just what ever you tell them you have to prove with rent reciepts or contribution statments. or cut expences, oh i eat less or i dont drive that much

Guest

bottom line if you prequallify you can quallify, yes you will still have to send in the info and no, there not giong to call you if it doesnt come thru so call back and check alot. include your loan number your signiture and the date on every doc. you fax. and remember that it can take a while to get them to do it and they only keep the info you send for 30 days, so keep it updated

any other questions, ask me, in detail or call wells fargo collections and hope you get me

Guest

I recieve an unfair offer from wells fargo supposely loan modification an it went like this they were uping the price of my home my rate was 6.5 they offer 5.50 and they got my payment wrong 1848.63 they claimed 1812.94 but the thing was they only offered me 90.dollars and mortgage pymts at 1747.23 which was not acceptable my wife is unemployed how is this helping I went to a lawyer and they said this was a slap in the face and dont do it i was never sent loan modification papers and this was done over the phone These banks are nothing but subprime lenders themselves i will be sending copies of this document to my state senators to let them know this is what they are doing to the American people who cannot get a fair deal with the taxpayers money to bail them out but they cannot help us we have to pay thousands of dollars to a lawyer to help us out this is really ridiculous!!!! Sad

gmakerley · Posted: Sat Feb 20, 2010 10:03 am Post subject:

it seems that "let me explain" has come forth with a way in which consumers can obtain modifications. check out this (i just posted it on another thread this morning):

"Wells Fargo and its parent company Wachovia today announced their share of how many homeowners they have helped in modifying their mortgages and permanently reducing the monthly payments. As of January 31 of 2010 Wells Fargo said it had modified 17,652 mortgage loans. The company also said it had 7,554 permanent modifications pending as of the end of January of this year.

The parent company of Wells Fargo, a Charlotte, NC based Wachovia said it has nearly doubled all the mortgage modification programs since the end of last December, reports Charlotte Business Journal."

clearly, wells is doing modifications, but just as clearly from the commentary we see here, they're not reaching everyone. of course, they cannot possibly help 100% of the people who seek help, so dissatisfaction is never going to go away. hopefully, they'll continue on what looks like it might be something of an improvement in the modification process.

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Does Wells Fargo usually deny loan modification?