Are you at the risk of losing your home because of non-payment of your mortgage to Fargo Wells and wondering how to delay foreclosure so that you can have the chance to save your home and secure your future? Wells Fargo can help you with that as it offers a number of mortgage assistance programs for struggling Texan homeowners.
With these assistance programs, they can reduce your interest rate, reduce the amount of monthly payment, readjust payment schedule, offer a second lien mortgage, and more.
Timing is of essence here as the sooner your notify them about your problems, the more options they can offer. Choosing the right option considering your current and future financial situation, long term benefits and other factors is another difficult yet important thing to do. For that, you can get free help from Save My Texas Home. If you are having difficulty dealing with Wells Fargo, Save My Texas Home can also act as a liaison and speak to them on your behalf. So give them a call at 512-271-5044 or read on about how to delay foreclosure with the options available at Wells Fargo.
Wells Fargo Repayment plans
Let’s say you have missed some payments due to temporary financial hardships. You can contact Wells Fargo and let them know about your problems. They can propose you a repayment schedule that will compensate the delinquency in the payments over a period. The terms of a repayment plan can be different for different situations, but it will allow you to make up for the missed payments over months or years and eventually to settle the mortgage.
Loan Modifications
Loan modification is another affordable way to delay foreclosure. Wells Fargo can be highly flexible with the loan modifications if you seek for a readjustment of your payment schedule due to financial crisis. With a mutually agreed loan modification, you will be able to change the terms of your original loan. Depending on the situation, a loan modification can reduce your interest rate, waive some fees and charges or change the amount of unpaid principal. Usually it adds missed payments to the unpaid principal balance and allows you an extended period so that you can pay if off easily. You can get in touch with Save My Texas Home to have some solid advice on what type of loan modification is best for you.
Principal Reduction from Wells Fargo
Wells Fargo can be quite helpful when it comes to enabling a customer to pay mortgages. They have emphasized the reduction of the principal amount lately to help customers pay their mortgages. In recent years, Wells Fargo have forgiven the principal for borrowers in trouble by 15% on average. They have even allowed reductions of up to 30% in many cases.
Various programs offered by the Texas government and the Obama administration also encourage lenders to reduce the principal, especially in case of homeowners who owe more than the value of their home. You can contact Wells Fargo staff to see if you are eligible for a reduction in principal. If you are worried about how to delay foreclosure, this can be a great way out for you.
Wells Fargo Second-lien Program
Since 2010, Wells Fargo has been participating in the second-lien modification component of Home Affordable Modification Program (HAMP). With this, their struggling mortgage customers who have completed the HAMP modifications on their first mortgage have another option to reduce the payment required for the second-lien mortgage. Usually, a second-lien mortgage comes with limited options and assistance from the lender organization which makes it harder for the borrower to settle during the hard times. With the help of this program, customers of Wells Fargo can secure more options for modifications on the second-lien mortgage. You can get assistance from Save My Texas Home to be sure that a second-lien program can help you to delay foreclosure.
Apart from the ways mentioned above, Save My Texas Home can show you other ways to delay foreclosure and eventually save your home. Even if you are not a Wells Fargo customer, you don’t need to worry much about how to delay foreclosure. Save My Texas Home has provided expert help for free to many Texan homeowners to help them out from a foreclosure situation. Like them, you can save your home too!