Homeowners with Wells Fargo are seeking assistance through the home loan modification program and through refinancing options in order to help them lower their monthly mortgage payment. Homeowners are still struggling to make ends meet financially due to a variety of factors that are still causing many people financial hardships.
Wells Fargo has been participating in the home loan modification program and have seen increases in the number of permanent home loan modifications they have made over the past months. There are a variety of programs from the Obama Administration and from lenders themselves that are helping homeowners with the various mortgage troubles that they are experiencing.
There have been complaints from homeowners who all are accusing lenders of not doing all they can and practically every lender has a section of homeowners who can cite very troubling stories while working their way through the home loan modification program.
Yet, there are many success stories coming from the Making Home Affordable Program and lenders have been helping numerous homeowners get a more affordable mortgage, so for this reason homeowners shouldn’t give up hope. It’s still advised that anyone who is having trouble making their home loan payment should contact their lender to see what assistance may be available.
Some homeowners who may not qualify for a home loan modification have been taking advantage of refinancing options in order to get a lower mortgage rate and a lower mortgage payment as well. However, getting a lower rate and payment on a mortgage will be dependent upon a homeowners credit score and the amount of equity in their home.
The best bet for a homeowner who is looking for help is to contact their lender, explain their situation, and see what type of mortgage aid might be able to help them out of their financial predicament.