Mortgage assistance opportunities are still available from servicers like Wells Fargo despite recent questions over whether proper documentation and procedures were used by various financial institutions when processing foreclosure paperwork. Homeowners continue to struggle when it comes to making their mortgage payment, due mainly to factors like unemployment, but recent revelations over the high number of foreclosure documents being seen by many financial institutions has homeowners concerned.
Yet, Wells Fargo continues to participate in the Making Home Affordable Program, which offers home loan modifications and other foreclosure prevention opportunities. Programs like the Second Lien Modification Program and the Home Affordable Unemployment Program have given many homeowners alternative assistance plans which may deal more specifically with their mortgage difficulties.
Wells Fargo, who has continued to see success when it comes to modifications, is also reported to be one of the financial institutions that offers proprietary modifications, or alternative mortgage assistance help. Some homeowners who may be unable to qualify for HAMP may still have opportunities from their servicer through these in-house assistance programs.
While Wells Fargo and other mortgage institutions have not been perfect in their implementation of these assistance plans, as is evidenced by the number of homeowners who still face foreclosure, there are still options available to homeowners who may fear the loss of their home in the near future.
Homeowners are advised to contact their servicer or consult resources like the Making Home Affordable website for information on beginning the modification process, or finding alternative home loan assistance options which can help them avoid foreclosure or further mortgage troubles down the road.