Wells Fargo Modification

Do you understand exactly how to complete the application for a Wells Fargo Loan Modification?  The underwriting guidelines require that every borrower pass the required monthly income, expense and asset formula-and this can be very difficult to figure out by yourself.  In fact, the #1 reason for denial is due to the information provided by the homeowner on their financial worksheet-this is why you need to use the loan modification calculator to compute all this for you.

What financial information does Wells Fargo look at to decide if you qualify for a modification?  There is a basic formula that uses:

1. Monthly Household Gross Income
2. Current Mortgage Expense
3. Current loan balance
4. Current Market Value of property

The loan modification calculator uses this formula, and automatically

Budget Calculated!

computes and displays your own specific budget information and shows either PASS or FAIL for the 7 approval triggers.

Follow these simple steps to learn your specific income, expense & asset requirements:

1. Complete the WORKSHEET-be careful to itemize your income as explained on this form-certain amounts must be listed in a certain way.  For example, rental income and room mate income is required to be computed using a certain percentage.  The worksheet will walk you through, step by step to organize and itemize your own financial information.

2. Now, input each figure in the specific category in the loan mod calculator as the worksheet directs you to.  There are 14 categories, and these cover your income, household expenses, mortgage information according to the Wells Fargo standard approval guidelines.

3. The loan modification calculator instantly compute and display the results as you input your specific financial information-you will either see a Pass or Fail for each of the 7 categories.  The goal is to pass all 7-you may need to fine tune your budget in order to accomplish this.

4. The new modified loan terms will be displayed on the

   

   Apply Correctly

   calculator-showing you the monthly savings, your new interest rate, payment, loan term and if any principal reduction will be required.

5. Use the loan mod calculator to help you adjust your budget figures before you submit your application for final review.  Once you have all your numbers accurate and passing the guidelines, then transpose them onto the Wells Fargo RMA form.

It really makes sense to use this helpful tool instead of just “guessing” at what the bank needs to see from you.  It may be a matter of simply adjusting your expenses a bit, or getting a room mate in order to qualify-but if you do not know this ahead of time then you will not be able to submit the acceptable financial worksheet for Wells Fargo to approve you!

The loan modification calculator has helped thousands of homeowners-a Wells Fargo modification will only be offered to those borrowers who can prove in black and white that they fit right into the program guidelines-this means showing the right income, right expenses and right assets.  It’s really just math-but what you don’t know can really hurt you when it comes to the loan mod process.

Avoid mistakes-save time and frustration by getting the real information you

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need.  Order The Complete Loan Modification Guide kit and get the loan modification calculator to use and help you apply correctly.  This powerful tool is easy to use, but is the sure way to increase your chances of approval.  Visit MyLoanModificationCenter.com today to get started.

Software Calculator Uses the Formula

Most homeowners are completely confused when it comes to figuring out how to complete their loan modification application forms.  The financial statement where your monthly income and expenses is detailed for your lender to review is especially important, because the information you provide here is what is used by your lender to determine if you qualify for a loan mod or not.

How can you be sure that the monthly income you have on your application is sufficient to qualify for a loan modification?  What if you have rental income or have a boarder in your home, are you allowed to count that as income too?  If so, how much of it?  No wonder borrowers have such a difficult time – and unfortunately the banks do not help you fill out this form or give you any tips on how to qualify.  The sad truth is that most people are denied simply because they did not understand just what their lender needed to see in order to qualify for a loan workout.

There is a helpful tool designed just for homeowners and takes a lot of the frustration and guesswork out of the loan mod process.  This loan modification software program is easy to use, but so powerful because it does all the important calculations automatically.  When you put in your own specific financial information, the results are displayed automatically and immediately showing you if your debt ratio,  income, expenses and bank balances are passing the standard approval guidelines.

Work on your budget now

The loan modification software calculator also shows you what your new modified mortgage payment could be, along with the new interest rate and loan term.  This is important to know because when your lender offers you a loan mod, you want to be certain that you are getting the very best modified terms you can possibly qualify for.

How does this loan modification software calculator work?  The program closely mimics the 7 triggers for approval including:

1. Debt ratio
2. Asset Ratio
3. Loan to Value Ratio
4. Imminent Risk of Default
5. Cash Flow
6. Waterfall Method of Modification
7. Principle Reduction

Once the borrower’s income, expenses, bank balances and other specific

Sample Budget-Automatically!

information is entered into the calculator, the results automatically populate displaying whether the figures are passing or failing the triggers.  This also shows exactly where some areas of the budget may need to be adjusted in order to increase the chance of passing all the standard approval guidelines.

This #1 selling resource has helped over a thousand homeowners with preparing an accurate financial statement by providing a sample monthly budget to follow.  More importantly, it gives you the opportunity to fine tune your figures to make certain that you have the very best chance of fitting into the program guidelines for debt ratio,  income, expenses and bank balances.  If your income is too high or too low, you could be turned down, so it is critical to know this ahead of time so you can make any necessary adjustments to your budget and application.

Millions of families are facing unaffordable mortgage payments and trying to adjust their finances each month so they can afford to stay in their home.  It just makes sense to know exactly HOW to adjust your budget to fit the loan modification approval guidelines before you send in your application.  This is not something you want to just guess at, and thankfully there is a great tool that you can use to help you have the best chance at success.

Download immediately!

If you would like help with your own loan modification application, you may want to use The Complete Loan Modification Guide kit and Loan Modification Software calculator.  This easy to use kit will provide you with step by step instructions, forms, and the calculator will generate your own sample monthly budget.  Visit MyLoanModificationCenter.com for more information and get started today.

Federal Plan

Homeowners are confused about how to completed the HAMP application and especially the financial statement section – this is the most important part of the entire process because it is this information that is used to determine if the homeowner will qualify for approval.  The fact is that the majority of borrowers are turned downed for a loan mod simply because they did not understand how much monthly income they needed to qualify.  This is where having access to a sample monthly budget showing the amount of income, expenses and bank balances needed would be a big help and could be the difference between approval and denial of your loan workout.

Homeowners trying to apply and qualify for a HAMP loan modification can

Know the Guidelines

use a software program that automatically calculates all the important and necessary figures, and provides a sample budget that can be very helpful.  An important part of qualifying for a HAMP loan modification is being able to pass the Waterfall Method of modification formula.  This formula uses the borrowers gross monthly income, monthly expenses, bank balances, current loan amount and several other factors.  If the budget information you provided does not fit into this formula, there is a very good chance your loan mod application will be denied.

Sample Budget-Automatically!

The benefit of using the loan modification software program to give you a sample budget to follow is clear – once you know just how much monthly income you need to fit the program then you will have the opportunity to fine tune your figures and make the necessary adjustments before your lender has a chance to review it.  Simply input your own financial information and the results will populate and display immediately, showing you where you may  need to adjust your expenses or income.  If you just guess at this information then chances are slim that you will get it right.

The sad truth is that even the most deserving borrower will be denied a HAMP loan modification if their financial statement does not prove they fit into the formula for approval.  Since it is a mathematical equation put in place by the Federal Treasury Department for the HAMP guidelines, this same formula can be learned and used by homeowners too.  However, it can be a bit confusing and most borrowers simply do not have the time to figure it all out.  That is why using the loan modification software program to generate your sample monthly budget will save you time, frustration and help you avoid costly mistakes on your own application.

Get more information on the loan mod software program by visiting MyLoanModificationCenter.com – the #1 best selling resource kit for homeowners has helped hundreds of homeowners – why not you?

Software Uses the Formula

Homeowners are often confused about how to figure out their debt ratio and other important qualifications for a loan workout.  In fact, the most common reason that borrowers are turned down for a loan modification is due to the financial statement being prepared incorrectly.  In order to have the best chance of success, homeowners need to prove that they fit right into the standard approval guidelines for income, expenses and bank balances.

There is an easier way to make certain that your figures are accurate and acceptable – use a loan modification calculator that automatically shows you all of the important calculations;  debt to income ratio, asset ratio, new target payment, new loan interest rate and term, and whether you are passing the standard approval triggers.  This is critical information to know ahead of time, you want to be able to adjust your budget before the lender reviews it so that you have a better chance of approval.

Automatic Calculations

The loan modification software calculator program displays the results immediately and shows you just where you may need to fine tune your figures – how do you know if your monthly income is too high or too low to qualify?  Your monthly expenses may need some adjusting, or your bank balances may not qualify for a loan workout.  Since the banks use a standard formula for loan modification approval, why not use this same formula when you prepare your own application and be confident that you fit right into the program?

Debt ratio, target payment, asset ratio – these are all foreign terms to most borrowers, and that is why the majority of homeowners become so confused and frustrated with the whole loan modification process.  Unfortunately, the lenders will not take the time to help you complete your financial statement and will not tell you how you could possibly adjust your figures to qualify.  The fact is that many homeowners are adjusting their budget every month trying to figure out a way to keep their home, so it is perfectly acceptable to fine tune your own budget in order to fit right into the guidelines for a loan mod.

Need help preparing your loan mod application correctly? The #1 resource for homeowners, The Complete Loan Modification Guide and Loan

Download immediately!

Modification Software Program,  includes the easy to use loan mod calculator.   You can save time, frustration and avoid mistakes with this easy to use program.  Visit MyLoanModificationCenter.com for more information.

HELP!

The most confusing part of trying to qualify for a loan modification is filling out the financial statement.  This is part of the application that you need to submit to your lender, and this is the information that will be used to determine if you qualify for a loan workout.  It is the most important part of the entire process, so it makes sense to spend a little bit of time making certain that your figures are acceptable before you send it in to your lender for final review.

This is where the loan modification software program provides a huge benefit, all the calculations are done for you automatically and instantly!  There are certain issues that you need to be concerned with on your financial statement, included the amount of monthly income, monthly expenses and bank balances you need to prove.  The loan modification software program is part of The Complete Loan Modification Guide kit, and this best selling program gives you all of this information and assistance:

1. Understanding how Loan Modifications work and why lenders are willing to do them
2. HAMP (Home Affordable Modification Program) Underwriting Guidelines and Recent Updates/Changes
3. What you CAN and CANNOT expect when dealing with 2^nd Liens and HELOCS
4. Understanding how to qualify for a Loan Modification when you are NOT LATE!!!
5. Understanding the Standard Waterfall Process and how the lender will use this process to lower your  mortgage payment.
6. Learn what to do when your  Loan Modification has been denied
7. How to structure the budget
8. How to structure the Profit and Loss Statement
9. How to correctly calculate Rental Income, bonuses, overtime and other types of income

Software Uses the Formula

It is no wonder that the majority of homeowners who apply for a loan modification are denied – they simply do not know or understand how the standard approval guidelines work.  Trying to figure all this out by yourself is too confusing and frustrating.  The approval formula is a standard mathematical equation mandated by the federal government – the loan modification software program mimics this very same formula!  This is the critical information you need so that you can prepare your financial statement correctly and increase your chances of approval.

Automatic Calculations

Just think, how helpful it will be to know exactly where you may need to adjust your figures to pass all the approval triggers!  You can then use this information to make any adjustments to your budget so that your final application is submitted correctly – and you can feel confident that you have the absolutely best chance of getting the loan modification you need and deserve.  The Complete Loan Modification Guide kit and Loan Modification software program has already helped thousands of homeowners, visit MyLoanModificationCenter.com for more

Download immediately!

information.

Know the Formula

How can homeowners be really sure that they will qualify for a loan modification?  The approval guidelines that banks use to determine which borrowers will be offered a lower mortgage payment include the monthly gross income, the monthly expenses and bank balances.  But how do you know if your figures are going to be acceptable or not?  This can be very confusing for homeowners to try to figure out – but there is a way to make certain that your loan mod application proves in black and white that you are a good candidate and deserve to be approved.

A loan modification software program is one way to help you know exactly how to prepare your own financial statement for your lender.  It is critical to learn just how much monthly gross income you need to qualify for a loan workout – and just guessing at this figure is taking a big chance.  There is actually a standard, mathematical formula used by over 90% of all lenders to determine which borrowers will qualify for a loan modification.  The loan mod software program mimics this very same formula and automatically displays how much monthly income, monthly expenses and bank balances are required in order to pass the approval guidelines.

Uses Approval Formula!

The loan modification software program also shows you what your new modified loan terms could be, including the new interest rate, loan term, monthly payment amount and if any principal reduction could be included.  This is very important to know ahead of time, otherwise how will you know what you should be asking for and whether the loan mod your lender is offering you is the very best you qualify for?

The loan modification software program is designed to be very easy to use – simply input your own specific financial information and all the calculations are done automatically for you.  You will be able to see immediately if you may need to adjust some of your figures in order to fit right into the program.  This will give you the information you need to fine tune your figures before your lender has a chance to review them, and give you the best chance for approval.

Download immediately!

You can take the guess work and confusion out of applying by using the loan modification software program, this #1 best selling resource has helped thousands of homeowners and it can help you too.  Make certain that your loan mod application is prepared correctly so that you have the best chance for success – when your home is on the line you need to use every resource available.  Visit MyLoanModificationCenter.com for more information.

You Can Do It Yourself!

Confused about how to apply and qualify for a loan mod?  Can a homeowner really do it themselves successfully?  The entire loan modification process can be very intimidating for struggling homeowners, but the fact is that you can successfully get a modification yourself – you just need to have a little help to complete your application correctly.

Do it your self loan modification is a good option for any homeowner who is struggling with high mortgage payments and at risk of losing their home.  The federal programs offer very aggressive terms and also feature standard guidelines for qualifying.  Over 90% of lenders are participating in these programs and are using the same guidelines.  So, as long as you can complete your application so that it proves you fit right into the program requirements, you have an excellent chance at getting approved for a new lower mortgage payment.

Uses Approval Formula!

You don’t have to try to figure out the program guidelines all by yourself, or take a chance by guessing at how to complete your loan modification application correctly.  You can use a loan modification software program that was designed specifically for homeowners and actually mimics the standard formula used by banks for qualifying applicants.  The Loan Mod software program is easy to use, but provides you with the key information you need in order to be confident about completing your do it yourself loan modification.

How do you know if your monthly income is adequate or your expenses are acceptable?  Are your bank balances too high to qualify?  These are critical questions that you need the answers to – and the loan mod software program will show you immediately and automatically just where your own monthly budget may need to be adjusted in order to fit right into the standard approval guidelines.  When you input your own specific financial information, the results are displayed and you can see just where you may need to fine tune your application in order to meet the approval guidelines.

If you would like help to prepare your own do-it-yourself loan modification, you can use the #1 best selling resource for homeowners, The Complete Loan Modification Guide kit and Loan Modification Software Program.  This helpful

Download immediately!

tool will provide you with the inside information you need in order to have the best chance at qualifying – and includes a handbook, step by step directions, the easy to use software program, forms, tips and much more.  Visit MyLoanModificationCenter.com for more information and get started today.

Know the Formula

Most homeowners are very confused about the right way to apply for a loan modification and many have even been turned down because they were told they did not show enough income or had too many expenses.  The entire loan mod process can be frustrating and almost impossible to figure out all by yourself.  Complete your forms the wrong way and you will find yourself declined and there goes your chances of new lower mortgage payment.

What borrowers need is a simple, easy to use tool that will clearly show them the right way to apply for a loan modification.  There is actually a standard formula that is used to determine if a homeowner qualifies for a loan mod, and this mathematical calculation uses the financial information that is provided on the application forms – specifically the monthly income and monthly expenses and bank balances.  Thousands of homeowners have been helped by using a loan modification software program that automatically does all these calculations for you and demonstrates exactly where to make any needed adjustments to your figures in order to pass the guidelines.

The right way to apply for a loan modification is to complete your financial

Apply Correctly

statement with the correct amount of monthly income so that when your lender reviews it they will see immediately that you are a good candidate for a loan workout program.  Banks are swamped with applications from homeowners asking for help, and the easier you make it for them the faster you will get your reply.  It’s simple – prove that your financial situation fits into the program approval guidelines and you have a much better chance of getting qualified.  That is where using a tool like the loan modification software program can be so helpful – instead of guessing at how much income, expenses and bank balances you need to prove you actually know ahead of time and then can fine tune your budget in order to fit right in.

The loan modification software program is designed specifically to help homeowners and is very easy to use.  It is an Excel based program that closely mimics that standard, published formula for loan mod approval.  You simply input your:

1. Monthly gross and monthly net income
2. Current Mortgage balances
3. Current home value
4. Monthly expenses-car payments, food, utilities, etc
5. Property taxes, homeowners insurance, HOA dues
6. Liquid reserves- checking, savings, CD’s, stocks, balances

You will see the results populated immediately and automatically and determine where – if anyplace – you may need to fine tune your figures in order to meet the standard criteria.  Homeowners across the country are struggling each month and adjusting their budgets to try to make ends meet, and it is perfectly acceptable for you to adjust your budget in order to be able to afford your new modified mortgage payment.

The loan modification software program will also automatically display

Uses Approval Formula!

what your new modified interest rate could be, and show you the new target mortgage payment.  If the lender needs to reduce the principal balance to reach the target payment, that will be displayed as well.  This information will help you to decide if a loan modification and the new target payment will be affordable for you, and most importantly let you know what new payment you should be asking your lender for.

If you need help to prepare your loan mod application the right way, you can

Download immediately!

use the #1 resource for homeowners, The Complete Loan Modification Guide Kit and Loan Modification software program.  You don’t have to figure it out all by yourself – give yourself the best chance of getting the loan workout you need.  Visit MyLoanModificationCenter.com for more free information and help.

Download immediately!

Know the Guidelines

It’s a real war zone out there and homeowners have a tough time winning the battle with their banks when it comes to getting a loan modification.  The statistics are dismal – less than 10% of all homeowners who apply for a loan workout with their lender will be approved.  It seems all the power is with the big guys, is there any way that the average struggling homeowner can actually with this fight?

Why do banks make it so difficult for a borrower to get a loan modification and why aren’t more homeowners approved?  The sad fact is that most people simply send in their application without really having any idea of what it takes to qualify for a loan mod.  The fact is that the majority of borrowers are declined because they did not prepare their financial statement correctly, and this results in their lender deciding that a loan workout will not be offered.  Only those borrowers who can prove in black and white that they meet the standard guidelines for approval will be offered new loan terms.  So, that brings up the big question – just what is the standard guideline for approval and can homeowners actually learn it themselves?

Know the Formula

The answer is “yes”, you can learn and use the same formula that over 90% of banks use to determine which homeowners they will approve for a loan modification.  Since the Treasury Department initiated HAMP, and set forth the formula for qualifying, this formula is published and the public has access to it.  It just makes sense to utilize this information when you prepare your own application.  However, most borrowers simply send in their financial information without checking to make sure that the information they are providing actually fits into the program approval guidelines.  This is really taking a big chance, and the statistics prove that most of the time you will be turned down for a loan modification doing it this way.

How can you make it a fair fight and win the loan modification battle with your bank?  Well, being well armed and informed will help you complete your loan mod application correctly and give you confidence that your situation fits into the approval formula.  There is an easy way to find out just what you need to prove for your monthly income and monthly expenses – you don’t have to try to figure it out all by yourself.  There is a loan mod software program designed specifically for homeowners and when you input your own information, you will see immediately if you need to make any adjustments to your figures to pass the guidelines.  The loan mod software program mimics the very same formula banks use, and it will show you how to fine tune your budget in order to fit right into the loan modification program.

The bank always makes the final decision, but one thing is certain, if you don’t meet the standard guidelines chances are very good you will not be approved.  You can at least increase your chances of approval by using the loan mod software program, fine tuning your figures before your bank reviews them, and making certain that you have done all you can to fit into the loan modification program guidelines.

Easy to Use-Avoid Mistakes!

Not sure how to qualify for a loan modification?  Loan Mod Quick App software takes the confusion out of preparing your application.  This helpful tool takes the guesswork out of qualifying by figuring your debt ratio, target payment and other important calculations for you.  Why take chances with your application?  Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you!  You can save hours of time and avoid costly mistakes.  The Complete Loan Modification Guide kit is the best selling do-it-yourself system that includes the software, handbook, forms and much more.

Susan Gregory is the author of two resource books for homeowners and real estate professionals, the best selling The Complete Loan Modification Guide Kit & Software and The Stimulus Book-HAMP & HAFA Edition.  She also teaches workshop training classes for the federal programs to help real estate professionals assist homeowners with home retention and exit strategies.  The Complete Loan Modification Guide kit provides a valuable resource for

Download immediately!

borrowers that includes a step by step handbook, required forms, and a loan modification software program that mimics the federal approval triggers for loan modification.  An advocate for homeowners, Susan also offers free 30 day email support for all of her clients who purchase her publications.  Thousands of homeowners have been helped using these materials.  Visit http://www.myloanmodficationcenter.com for more information.

HELP!

Why guess at what your lender is looking for on your loan modification application in order to approve you?  There is a standard mathematical formula that is used by over 90% of banks to determine which homeowners they will qualify for a loan workout – this is the information that you need to know if order to correctly prepare your application.  There is a loan mod software program designed specifically to mimic this standard formula, and you can use it to prepare your own application so that you have the best chance of approval.

Why do some borrowers get approved for their loan modification while other very deserving homeowners are denied?  It’s simple – in order to be approved your financial information must fit into the standard guidelines – and must pass the formula used for approval.  The Treasury Department set up this formula and it uses the homeowners gross income, current mortgage balance and a projected modified target payment to determine who qualifies.  It is critical that your monthly income, monthly expenses and other triggers prove that your loan can be modified under this formula.

Easy to Use-Avoid Mistakes!

When you use the loan mod software program, you will see instantly if you have enough income to qualify.  The results are displayed immediately, and show you where you may need to make adjustments to your figures in order to pass the standard guidelines.  You may need to fine tune your income or expenses, and the loan mod software program shows you exactly what is needed in order to pass the standard triggers.  The final decision is always with your lender, however one thing is certain – if you don’t pass the standard formula then your chances of success are pretty slim.

Remember, it is up to each borrower to prove that they qualify for a loan modification, and your bank will not give you this formula.  That is why it is so important to make certain that your application proves you fit right in before submitting it for review.  Make sure that you do everything you can to give yourself the best chance for approval.

Not sure how to qualify for a loan modification?  Loan Mod Quick App software takes the confusion out of preparing your application.  This helpful tool takes the guesswork out of qualifying by figuring your debt ratio, target payment and other important calculations for you.  Why take chances with your application?  Simply input your unique financial information into the Loan Mod Quick App and it calculates it all for you!  You can save hours of time and avoid costly mistakes.  The Complete Loan Modification Guide kit is the best selling do-it-yourself system that includes the software, handbook, forms and much more.

Susan Gregory is the author of two resource books for homeowners and real estate professionals, the best selling The Complete Loan Modification Guide Kit & Software and The Stimulus Book-HAMP & HAFA Edition.  She also teaches workshop training classes for the federal programs to help real estate professionals assist homeowners with home retention and exit strategies.

Download immediately!

The Complete Loan Modification Guide kit provides a valuable resource for borrowers that includes a step by step handbook, required forms, and a loan modification software program that mimics the federal approval triggers for loan modification.  An advocate for homeowners, Susan also offers free 30 day email support for all of her clients who purchase her publications.  Thousands of homeowners have been helped using these materials.  Visit http://www.myloanmodficationcenter.com for more information.