The April report on the Making Home Affordable Program has Wells Fargo gaining in the number of permanent and trial home loan modifications made. Homeowners with Wells Fargo, like those with other lenders around the nation, have been struggling in their mortgage for a number of reasons, ranging from unemployment to underwater mortgages, so an increase in the number of modifications being made is good news.
Wells Fargo, as of April, has made 36,904 permanent home loan modifications, which is up from March’s number of 30,014. Many lenders have been seeing increases in the number of permanent home loan modifications made, which is great for the homeowners that are still suffering from the recession.
Also, Wells has 171,704 trail modifications that are currently active. This number is up from 114,918 trial modifications from March, and it’s out of 174,995 homeowners that potentially qualify for a home loan modification.
The road to getting a mortgage modification has not been easy for every homeowner and there are numerous troubling stories that are coming from homeowners that have been fighting what seems to be a losing battle to keep their home. However, homeowners are still being advised to contact their lender if they are having trouble paying their mortgage as more programs are available to help homeowners avoid foreclosure.