Homeowners that have a home loan through Wells Fargo have, like many other homeowners with various lenders, been having trouble making their mortgage payments due to financial strains. The home loan modification program which was started by the Obama administration has had mixed results from lenders and homeowners alike, as many people believe not enough is being done to help homeowners.
However, many cite the failing of this program when looking at the numbers of modifications that have been made by lenders. The goal for the Making Home Affordable Program has not been met as of yet and is a long way off, so many people are putting the blame at the feet of the lenders.
While lenders might be to blame and the Treasury Department is set to start reviewing lenders to make sure they are doing all they can to help homeowners that are struggling, many lenders point to the fact that they are helping homeowners outside of the home loan modification program set in place by the Obama administration.
It’s true that no lender is perfect and no modification or assistance program is going to be without fault either, homeowners are still being advised to contact their mortgage lender if they are struggling to make their home loan payment. Some lenders are able to offer programs outside of the Making Home Affordable Program to help homeowners, so it’s believed that homeowners need to contact their lender to get a more comprehensive idea of assistance options available.