Homeowners with Wells Fargo have not escaped the trouble that many homeowners have faced when working their way through the home loan modification program. Homeowners have stated that lenders sometimes don’t do all they can to make a modification permanent.
However, the Treasury Department has said that a new review process will take a look at what lenders are doing to help homeowners in a home loan modification program through the Obama administration and if these lenders aren’t doing all they can to help homeowners they may lose some of their incentives from the program.
Many people have said that lenders are unwilling to make home loan modifications in a lot of cases, as there are countless stories of homeowners who have done all that have been asked of them, yet have still been denied a home loan modification.
While the home loan modification program is not perfect, lenders are still being said to fail when it comes to doing all they can to help every homeowner that needs modification. Wells Fargo and other lenders have said they are providing assistance outside of the home loan modification program and the Treasury Department needs to take a look at those programs as well.
Yet there remains the problem that the home loan modification process is a very long and difficult road for many homeowners who adhere to the program’s guidelines only to be met with a rejection for a permanent home loan modification.