Homeowners with a Wells Fargo mortgage have opportunities for mortgage modification plans available from proprietary home loan modification programs or the governmental Making Home Affordable plan. However, these modification efforts by various mortgage servicers, like Wells Fargo, have not been seeing the success that many had hoped they would bring to homeowners who are struggling to make their mortgage payments.
Wells Fargo and numerous other mortgage servicers have seen increases in the number of permanent home loan modifications made through the Making Home Affordable Program and have reportedly offered more homeowners a proprietary modification, which is welcome news to those who are struggling to make ends meet and in need of mortgage aid.
Yet, there are complaints that remain and problems which homeowners feel need to be addressed as defaulting remains a problem for homeowners even though they have been offered a mortgage assistance option. Homeowners who re-default after being granted a home loan modification is a concern as it points to either a larger problem like unemployment or, as some homeowners have accused, servicers not making modifications available at a level which is affordable to homeowners.
However, homeowners with Wells Fargo are still being prompted to talk with their mortgage servicer if they foresee problems when it comes to making their monthly mortgage payment. While Wells Fargo has not been perfect in their implementation of these mortgage assistance plans, individuals who speak with their servicer early are believed to have a better chance at finding an affordable mortgage payment solution if they can address their financial problems before they get out of hand.
Again, Wells Fargo does still participate in the Making Home Affordable Program and offer proprietary modifications, but also, there are extension plans like unemployment home loan assistance, and even underwater assistance plans which may be available to Wells Fargo homeowners. While many have traveled a very difficult road concerning modification plans, homeowners are still finding some relief in certain areas through the foreclosure prevention efforts made available from national servicers.