Wells Fargo homeowners, as well as homeowners with other mortgage lenders across the nation, are still seeking mortgage assistance for their home loans. Many homeowners are still struggling financially and are having difficulty when it comes to meeting their monthly mortgage payment and for this reason many have sought out a home loan modification from the Obama’s Making Home Affordable Program.
Lenders like Wells Fargo are participating in this program and have seen an overall increase in the number of permanent home loan modifications they have made from month-to-month. However, there have been difficulties and many homeowners have been very upset with lenders when it comes to getting mortgage assistance. There have been accusations that lenders are not doing all they can to make home loans more affordable or simply help homeowners avoid foreclosure in some form or fashion.
A congressional hearing was recently held in which representatives from some of the top lenders in the Making Home Affordable Program outlined their future plans to help homeowners avoid foreclosure and cite their current and past successes when it comes to making homes more affordable for their customers.
Wells Fargo has stated that while there have been troubles, they are working to improve the modification process and offer more assistance to homeowners who are in need. For instance, one way Wells Fargo hopes to achieve this is by assigning one representative to a homeowner’s home loan modification process in the hopes of making a homeowner’s experience in the modification program a bit easier.
While there have been troubles, again, Wells Fargo has been seeing increases in the number of permanent home loan modifications they have made and they are also offering assistance through programs like deed in lieu of foreclosure plans to help homeowners who simply cannot afford their home loan payment any longer. Homeowners have been advised to contact their mortgage lender if there are signs of trouble that they may be unable to make their mortgage payment, and also, it’s helpful for homeowners to consult the Making Home Affordable Program’s website for more tools and resources as well.