Comments on: Wachovia Loan Modification-7 Tips to Get Help http://myloanmodificationcenter.com/blog/wachovia-loan-modification-6-tips-to-get-help/ The Complete Loan Modification Guide Thu, 09 Feb 2012 20:06:29 +0000 hourly 1 http://wordpress.org/?v=3.0 By: admin http://myloanmodificationcenter.com/blog/wachovia-loan-modification-6-tips-to-get-help/#comment-2298 admin Thu, 27 May 2010 14:34:26 +0000 http://myloanmodificationcenter.com/blog/?p=228#comment-2298 Wow-I can feel the frustration in the comment about Wachovia loan modification and Wells Fargo loan modification experiences. There is one thing that homeowners need to know and understand-THE LENDERS DO NOT CARE ABOUT YOU OR YOUR PERSONAL SITUATION. As much as we would like to think that Wachovia and Wells Fargo really want to give us a loan modification because we are so deserving, the fact of the matter is that they are a business whose sole reason for existing is to make money- NOT to have a social conscience or offer to LOSE money so that someone can stay in their home. Here is the only reason Wachovia or Wells Fargo will give you a loan modification-it costs them less money to keep you in the home than to foreclose-period. Yes, people, they do not care if you are the most deserving person in the world-they only care about what is best for their bottom line. Should that be a big surprise to anyone? The only way a homeowner has a shot at getting a loan modification is to prove that they fit into the mathematical equation the banks use to determine who qualifies. It's really that simple-if you fit you have a good chance of getting help-if you don't-well then why should they help you? The bank won't get paid by the Fed and they have no incentive or reason to lose money on your behalf. Do you really want to try to sue a billion dollar company or do you want your loan modified? Here is the most important thing you can learn-THERE IS A MATHEMATICAL EQUATION THAT YOU NEED TO USE when preparing your financial statement and application. This is the standard formula that Wachovia and Wells Fargo use under the federal loan modification program. You need to know and use this same formula so that you know you fit into the guidelines and the bank knows that they will get paid by the Fed if they modify you. The guidelines and equation are federally mandated, standard and are published. It's not some big secret, but most homeowners do not know about it or know how to figure it out. That is why you can use a software program that actually mimics the formula and does all the calculations for you automatically. You will see immediately if you fit or if you need to make adjustments to your income, expenses or family budget. Be smart-level the playing field, use all the tools at your disposal and have the best shot at getting a Wachovia or Wells Fargo loan modification. Take control of your situation and don't rely on the bank to do the right thing-it's just not going to happen that way. You can read hundreds of pages of free information and learn more about the software program and federal guidelines at: www.myloanmodificationcenter.com. Wow-I can feel the frustration in the comment about Wachovia loan modification and Wells Fargo loan modification experiences. There is one thing that homeowners need to know and understand-THE LENDERS DO NOT CARE ABOUT YOU OR YOUR PERSONAL SITUATION. As much as we would like to think that Wachovia and Wells Fargo really want to give us a loan modification because we are so deserving, the fact of the matter is that they are a business whose sole reason for existing is to make money- NOT to have a social conscience or offer to LOSE money so that someone can stay in their home.
Here is the only reason Wachovia or Wells Fargo will give you a loan modification-it costs them less money to keep you in the home than to foreclose-period. Yes, people, they do not care if you are the most deserving person in the world-they only care about what is best for their bottom line. Should that be a big surprise to anyone?
The only way a homeowner has a shot at getting a loan modification is to prove that they fit into the mathematical equation the banks use to determine who qualifies. It’s really that simple-if you fit you have a good chance of getting help-if you don’t-well then why should they help you? The bank won’t get paid by the Fed and they have no incentive or reason to lose money on your behalf.
Do you really want to try to sue a billion dollar company or do you want your loan modified? Here is the most important thing you can learn-THERE IS A MATHEMATICAL EQUATION THAT YOU NEED TO USE when preparing your financial statement and application. This is the standard formula that Wachovia and Wells Fargo use under the federal loan modification program. You need to know and use this same formula so that you know you fit into the guidelines and the bank knows that they will get paid by the Fed if they modify you.
The guidelines and equation are federally mandated, standard and are published. It’s not some big secret, but most homeowners do not know about it or know how to figure it out. That is why you can use a software program that actually mimics the formula and does all the calculations for you automatically. You will see immediately if you fit or if you need to make adjustments to your income, expenses or family budget.
Be smart-level the playing field, use all the tools at your disposal and have the best shot at getting a Wachovia or Wells Fargo loan modification. Take control of your situation and don’t rely on the bank to do the right thing-it’s just not going to happen that way.
You can read hundreds of pages of free information and learn more about the software program and federal guidelines at: http://www.myloanmodificationcenter.com.

]]> By: Claudia S. http://myloanmodificationcenter.com/blog/wachovia-loan-modification-6-tips-to-get-help/#comment-2286 Claudia S. Mon, 24 May 2010 23:37:09 +0000 http://myloanmodificationcenter.com/blog/?p=228#comment-2286 I began our loan modification process with Wachovia back in Oct. 2009 and to date we still haven't been able to finalize it. I find it absolutely stomach churning that every single god given financial documentation was provided to them (within 24 to 48 hours after Wachovia's request), and they still managed to delay the review process by claiming that the fax was never rec'd, the date was missing, the name was misspelt, Snoopy ate the mailbox, and Garfield, the cat, jumped on the stack of papers and his lice/fleas ate the documents!......seriously, my 5 year old son has better (and thankfully less) excuses then the Reps at Wachovia. Well, I don't know about you guys, but quite frankly, I've had enough. Wachovia shouldn't have accepted the bailout money from the gov't (which is really our hard earned tax dollars) if they had no intentions on bailing out anyone other than themselves! I've sued Wachovia in the past (before they acquired World Savings Bank) for extending a prepayment penalty fee and I had the entire matter resolved within 1 week....and mind you, I am not an attorney, never went to law school, and I sued completely on my own. Now, that being said, I took some of my own steps yet again for the 2nd time in hopes of getting what I was promised when we initially went through the phone interview: (1) 2% fixed interest rate; (2) lower monthly payment that included my escrows; (3) keeping my home (especially since we put 20% down payment on the purchase price back in 2005). I am keeping my fingers crossed that I will succeed for the 2nd time but it's never a guarantee! I think that if we all ban together (picture the Boston Tea Party) and everyone writes or files a complaint to the addresses listed below, then they will have no other choice but to listen and comply. My filed complaint alone is completely useless unless it's backed up by everyone else who is experiencing the same difficulties. Below you will find the steps in filing a lawsuit and complaint in your own County, but please keep in mind that all we can do is try our best and hope it'll work: 1. gather all docs and any fax/mail/email/fed ex confirmations sent to Wachovia; 2. organize in accordance to date, all phone calls made to Wachovia, whom you spoke with, and the topic covered during that conversation; 3. go to your County's website or google "how to file a complaint in _____ County". Once at the website, you can download the forms you need to complete in order to file a lawsuit. Be watchful of the Complaint you submit to Court, because there may be 2 different lawsuit forms: (1) small claims (typically used if you are suing for less than $6,000); and (2) civil complaint. 4. If you do not have access to the web or your county does not provide this online, you can visit your county clerk and ask for the forms directly. 5. in addition to filing your own lawsuit, file a complaint online with the Department of Banking and Insurance and also with Thrift Supervisory. 6. Lastly, once you have a copy of your filed lawsuit at hand, along with all the other online complaints you filed, feel free to drop a few lines to the following people at Wachovia: Wachovia Corporation Legal Division NC0630 One Wachovia Center 301 South College Street Charlotte, NC 28288 (704) 374-6611 Board of Directors Wells Fargo & Company P.O. Box 63750 San Francisco, CA 94163 email: boardcommunications@wellsfargo.com Wells Fargo & Company 2711 Centerville Road Suite 400 Wilmington, Delaware Attn: Mr. Mark C. Oman Good luck to all and if you have any questions feel free to drop me a line at clichtenstein@hotmail.com. Just remember, I am a regular schmoe like everyone else, sharing my experience that worked for me back in 2008 and hopefully again in 2010! Therefore, I can not give any legal advice, since I am not an attorney and hold no office in that capacity either. I began our loan modification process with Wachovia back in Oct. 2009 and to date we still haven’t been able to finalize it. I find it absolutely stomach churning that every single god given financial documentation was provided to them (within 24 to 48 hours after Wachovia’s request), and they still managed to delay the review process by claiming that the fax was never rec’d, the date was missing, the name was misspelt, Snoopy ate the mailbox, and Garfield, the cat, jumped on the stack of papers and his lice/fleas ate the documents!……seriously, my 5 year old son has better (and thankfully less) excuses then the Reps at Wachovia.

Well, I don’t know about you guys, but quite frankly, I’ve had enough. Wachovia shouldn’t have accepted the bailout money from the gov’t (which is really our hard earned tax dollars) if they had no intentions on bailing out anyone other than themselves! I’ve sued Wachovia in the past (before they acquired World Savings Bank) for extending a prepayment penalty fee and I had the entire matter resolved within 1 week….and mind you, I am not an attorney, never went to law school, and I sued completely on my own. Now, that being said, I took some of my own steps yet again for the 2nd time in hopes of getting what I was promised when we initially went through the phone interview: (1) 2% fixed interest rate; (2) lower monthly payment that included my escrows; (3) keeping my home (especially since we put 20% down payment on the purchase price back in 2005). I am keeping my fingers crossed that I will succeed for the 2nd time but it’s never a guarantee!

I think that if we all ban together (picture the Boston Tea Party) and everyone writes or files a complaint to the addresses listed below, then they will have no other choice but to listen and comply. My filed complaint alone is completely useless unless it’s backed up by everyone else who is experiencing the same difficulties. Below you will find the steps in filing a lawsuit and complaint in your own County, but please keep in mind that all we can do is try our best and hope it’ll work:

1. gather all docs and any fax/mail/email/fed ex confirmations sent to Wachovia;
2. organize in accordance to date, all phone calls made to Wachovia, whom you spoke with, and the topic covered during that conversation;
3. go to your County’s website or google “how to file a complaint in _____ County”. Once at the website, you can download the forms you need to complete in order to file a lawsuit. Be watchful of the Complaint you submit to Court, because there may be 2 different lawsuit forms: (1) small claims (typically used if you are suing for less than $6,000); and (2) civil complaint.
4. If you do not have access to the web or your county does not provide this online, you can visit your county clerk and ask for the forms directly.
5. in addition to filing your own lawsuit, file a complaint online with the Department of Banking and Insurance and also with Thrift Supervisory.
6. Lastly, once you have a copy of your filed lawsuit at hand, along with all the other online complaints you filed, feel free to drop a few lines to the following people at Wachovia:

Wachovia Corporation
Legal Division
NC0630
One Wachovia Center
301 South College Street
Charlotte, NC 28288
(704) 374-6611

Board of Directors
Wells Fargo & Company
P.O. Box 63750
San Francisco, CA 94163
email: boardcommunications@wellsfargo.com

Wells Fargo & Company
2711 Centerville Road
Suite 400
Wilmington, Delaware
Attn: Mr. Mark C. Oman

Good luck to all and if you have any questions feel free to drop me a line at clichtenstein@hotmail.com. Just remember, I am a regular schmoe like everyone else, sharing my experience that worked for me back in 2008 and hopefully again in 2010! Therefore, I can not give any legal advice, since I am not an attorney and hold no office in that capacity either.

]]> By: Armando Pelayo http://myloanmodificationcenter.com/blog/wachovia-loan-modification-6-tips-to-get-help/#comment-189 Armando Pelayo Wed, 25 Feb 2009 06:38:06 +0000 http://myloanmodificationcenter.com/blog/?p=228#comment-189 Its nice to read this article, as a homeowner in default I am facing the crude reality that I will loose my home, this after having lost 14 other properties, among condominiums , townhoes, and single family residences, here in CA and TEXAS as well, it is a pill hard to swallow. next is BANK RUPCY... NO EXPERIENCE ON NEITHER, just becoming an statistic. Its nice to read this article, as a homeowner in default I am facing the crude reality that I will loose my home, this after having lost 14 other properties, among condominiums , townhoes, and single family residences, here in CA and TEXAS as well,
it is a pill hard to swallow.

next is BANK RUPCY… NO EXPERIENCE ON NEITHER, just becoming an statistic.

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