Wells Fargo Obama Making Home Affordable Home Loan Modification Plans–Assistance Plans And Troubles

Homeowners with a Wells Fargo mortgage have been able to take advantage of the home loan modification program, in some cases, which has helped many avoid foreclosure. However, there are many homeowners who still remain quite angry with mortgage servicers and the modification program as accusations that mortgage servicers are not doing all they can to help homeowners or are simply working to further their own interests are still being levied against many mortgage lenders.

The Obama home loan modification program has seen increases in the number of permanent modifications made from month to month from a variety of lenders. Wells Fargo, along with other mortgage servicers, have also offered in-house mortgage modification plans to homeowners who were denied a plan from the Obama Making Home Affordable Program.

However, many homeowners remain quite adamant that change must come in the modification program and from mortgage servicers as well. Many angry homeowners feel that not enough has been done to help those who are in need of more foreclosure prevention options and there have been accusations that mortgage servicers simply do not care.

Homeowners use reports that indicate homeowners are still defaulting even when a modification is given in some cases, and there’s also the problem of homeowners being denied assistance for reasons that range from lost documentation and paperwork or a homeowner’s low income. While the animosity remains between mortgage servicers and homeowners, there are various home loan assistance extension programs available from the Making Home Affordable Program and reports say that in-house mortgage modifications have helped more homeowners than the Obama modification plan.

While lenders have not been perfect in their implementation of modifications in some cases, and not all homeowners will qualify for mortgage assistance or can afford their home any longer, many troubled homeowners believe that lenders should offer more options. It’s understandable that certain homeowners are in a bad situation with their finances and it cannot be expected for a mortgage servicer to allow them to simply live in their home for free, yet in cases where homeowners have been unjustly denied help, they are turning to resources like the Making Home Affordable HOPE hotline as a way to voice their complaints, concerns, or find guidance in dealing with mortgage lenders.