Wachovia Home Loan Modification Plan From Making Home Affordable–Are Homeowners Finding Assistance?

Homeowners with Wachovia Mortgage may still be seeking home loan assistance plans, as homeowners continue to struggle to make their mortgage payments due to factors like unemployment and personal financial problems within the lives of homeowners. While various factors like underwater mortgages or reductions in the income of a homeowner have led to missed mortgage payments, many financial institutions are still offering mortgage modification options to homeowners.

Wachovia Mortgage has seen positive results in the number of permanent home loan modifications they have made over the past months, but there are still homeowners who feel that more can be done from various mortgage servicers when it comes to making mortgage payments more affordable. Despite the fact that Wachovia Mortgage did see an increase in permanent home loan modifications from 7,893 to 10,550 from August to September 2010, there are still homeowners who are facing foreclosure or re-defaulting within these mortgage assistance plans.

Understandably, homeowners are still upset with mortgage servicers, especially in situations where an affordable mortgage payment solution has not been presented. While criticism against mortgage servicers and home loan modification programs in general continue, there are still opportunities for mortgage modification plans and homeowners are being advised to continue seeking these assistance options rather than simply give into foreclosure or walk away from their mortgage.

While problems remain between homeowners and servicers like Wachovia Mortgage, there are advisers who still suggest that homeowners talk with their mortgage servicer to explore possible assistance options which may be available for their particular situation. Obviously, homeowners who contact their servicer early may stand a better chance at finding an affordable solution to their home loan troubles, but as some homeowners have come to see, these modification programs are no guarantee to foreclosure prevention.