Wells Fargo has had ups and downs in the home loan modification program over the last few months and there are homeowners that are being both helped and discouraged by their participation in the home loan modification program. Yet, is the home loan modification program still helping homeowners make their mortgage more affordable?
While there are complaints with all lenders and the home loan modification program as a whole, lenders like Wells Fargo have been dealing with homeowners that are not only wanting a more affordable mortgage, but also homeowners walking away from an underwater mortgage and second liens on homes making the modification program unhelpful to many homeowners.
These hindrances for both homeowners and lenders, coupled with the still struggling job market, have caused Wells Fargo and other lenders to see both good and bad times in the Making Home Affordable Program. Another problem that not only Wells Fargo has seen, but every lender in the modification program, is that of homeowners redefaulting after a modification.
However, homeowners that are looking for assistance in their Wells Fargo home loan shouldn’t give up yet, as Wells Fargo still continues to make mortgages more affordable for homeowners in need.