Posted on: 17th Feb, 2010 07:41 am
I cannot believe what this company is doing to honest hard working families. my family member into the Loan Modification Program and after five months they were denied. Now they have to pay back every penny that was not paid during the loan modification program. Even though there is one year of unemployment they said they make TOO MUCH MONEY. Now the house is entering into the foreclosure process. They have followed every rule, regulation, payment, request to the T -- but Wells Fargo is still BEGINNING THE FORECLOSURE PROCESS because THEY DON'T MAKE ENOUGH MONEY TO MAKE THE PAYMENTS.
You can ask your family member to re-negotiate with the lender and re-apply for a modification once again. May be the lender considers their request and gives them a better payment plan to pay off the loan. If the lender does not accept it, then it would be difficult for them to save the property.