If you need a Wells Fargo loan modification, you are not alone. Many homeowners are in the same boat as you.
So, where do you start? First off, you need to do some preparation before you call your lender and get denied. Yes, denied. If you just call up Wells and tell them you need a loan mod, they are going to transfer you to the loss mitt department. Then, they will ask you a series of financial questions. Answer those wrong and you will not be approved. Simple as that.
This is where most homeowners fail. You really have to concentrate on your financial information and get it down right before you try to get the modification. Of course, most people don’t realize this and end up in the situation described above. I called several months ago and they asked me right away ” Ok, you owe $51,000. Will this be by check or wire transfer today?”. True story. I could barely speak after that one!
I finally called a friend who gets people approved for a living and we went over my financials. There are certain expenses that show up on your credit report, so you can’t “fudge” those ones, but other ones you can. You need to be around breaking even when you finish your income and expense sheet. If you get that right, you might even get approved right over the phone and you won’t have to send in a 1 inch thick packet to your lender! I watched it happen in my friends office. He got somebody a loan modification in about 20 minutes.
If you don’t want to mess it up, or you have tried and were denied, you still have a shot. Check out the get link rapidshares below where there is some more information on Wells loan modification. There is a list of companies that are experts at getting you qualified and also a Get link rapidshare to the best DIY loan mod kit on the internet today. It will help you get your paperwork in order and arm you with the tools to get approved like I finally did….after 6 months of previous failure!
