If you are facing foreclosure with Wells Fargo due to financial hardship, and are unable to improve your finances, then it is expected that you will have problems of paying your mortgage.
This is why there are lots of people who are losing their properties not knowing that they can still do something to stop foreclosure. What you have to do is to contact the lender right away and discuss with them the reason why you have failed making repayments. They might give you suggestions on how to avoid foreclosure and have the chance to get back your property.
Foreclosure Help that You Can Get from Wells Fargo
Wells Fargo can offer various assistance programs to people who are having troubles of paying their mortgage. Informing them about the problem as earlier as possible will give you more options to resolve the situation. If you are worried that you might pay for the help you can get from them, well, Wells Fargo can assist you for free. Yet there are times that you might be charged for a fee depending with your situation.
Assistance Programs to Stop Foreclosure
Listed below are some of the Wells Fargo foreclosure help that you can try. You have to choose the one that will fit your situation. If you are feeling entirely lost, then contact Save My Texas Home and we can guide you through which options are best suited for stopping foreclosure with Wells Fargo. You might be surprised to find you have more options than you thought and more options than traditionally offered by the lender themselves!
• Repayment Plan
Going for repayment plans is one of the best options you have to settle your mortgage payments. People will have more time to clear up the missed payments that will also help them improve their financial situation.
• Loan Modification
Wells Fargo will help you modify your current mortgage in a way that you will never find it a burden to make repayments. You can lower the interest rate or extend the time given to you paying the mortgage.
• Principal Reduction
Wells Fargo had reduced the principal of some loans for about 30%. They find this thing effective of helping homeowners save their properties from foreclosure.
• Short Sale
If you know that the value of your property is less than the amount of money that you have owed from the lender, then you are qualified to apply for a short sale. The amount left from your mortgage will be ignored by Wells Fargo.
• Partial Claim of Claim Advance
This is applicable to borrowers who applied for an insured loan in a private insurance company or in HUD (Housing and Urban Development). You will be allowed to advance the funds that you will use to pay your mortgage.
For this option, the borrower is allowed to transfer the ownership of his property to the bank, an investor, or to Well Fargo rather than have it foreclosed.
With all the help that you can get from Wells Fargo, for sure you can prevent losing your property if ever that you failed to pay the mortgage. You just have to be aware with the assistance programs that they offer so that you can decide what to choose and you think will fit the situation.
That said, if you feel you’ve come to an impasse trying to work with Wells Fargo then let us take over and work for you, on your behalf. Fill out the form on this page or call 512-271-5044 to get free professional assistance with stopping foreclosure proceedings with Wells Fargo.