Homeowners with Wells Fargo may be looking at more available assistance through forbearance programs that have been set in place to help both unemployed and underemployed homeowners struggling to make their mortgage payments. Homeowners that have been hit hard by unemployment may want to start looking at their options with their lender to see what these expanded programs within the home loan modification program can do for them.
Forbearance programs are nothing new to some lenders but they are just now becoming more prevalent in the home loan modification program as things like underemployment, unemployment, and underwater mortgages are causing trouble for homeowners and the housing market.
Homeowners that are able to reduce their mortgage payment or get rid of it for a few months may be in a better position, financially, to resume their payments or sell their home during their forbearance period.
While many of these programs tackling new housing problems are new, they still may be able to offer a great deal of help for any homeowner in need. An unemployed homeowner or a homeowner in need of assistance may want to contact their mortgage lender and seek out any options available to help with troubles in their mortgage.