Wells Fargo Federal Loan Modification Checklist To Qualify

Posted by admin On September - 1 - 2009

Wells Fargo isoffering help to struggling homeowners with a federal loan modification plan.  This subsidized program is called Home Affordable Modification and is funded with $75 billion dollars of your tax money.  If you are facing a financial hardship, don’t wait to apply for relief using this very aggressive plan.  The approval guidelines are standard for everyone, so follow this checklist when you apply to make sure you will qualify.

Wells Fargo Government Loan Modification Checklist:

  1. You must live in the home as your primary residence
  2. Loan must have been taken out before January 1, 2009
  3. Loan amount is less than $729,750 for one unit properties (higher for 2-4 units)
  4. Current mortgage payment equals more than 31% of household gross monthly income (this includes principal, interest, homeowners insurance, homeowners dues, property taxes)
  5. Facing a financial hardship situation making your payment unaffordable

Wells Fargo Eligibility Checklist:

  1. Must be able to document hardship with an explanation and Affidavit
  2. Provide required income documentation less then 90 days old
  3. Verify occupancy with utility bill or tax returns
  4. Must agree to an escrow account for property taxes and insurance
  5. Loan cannot have been previously modified under the Home Affordable Plan
  6. Loans secured by condemned properties
  7. Loans currently in foreclosure are acceptable and those involved in bankruptcy proceedings (at the lenders discretion)
  8. Proof of imminent hardship/default if loan is not delinquent
Federal Plan

Federal Plan

Take the time to learn more about the Wells Fargo government loan modification plan so that you will be able to meet the debt ratio guidelines and target payment criteria.  It is a standard formula-the same for everyone-so once you learn the basics you will be on your way to getting the loan workout you need and deserve.  CAUTION:  Do not contact the bank and give them your information until you have prepared your financial statements and made the necessary adjustments so that you will qualify.

You can get the help you need to apply and qualify for a Wells Fargo government loan modification by ordering the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly.

Home Edition Loan Modification Kit with Customer Assist

Home Edition Loan Modification Kit with Customer Assist

The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. You also get 30 days of email support to ask questions, a series of insider tips and a monthly newsletter to keep you up to date on program changes. Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms?  Find out about our Customer Assist program-you work one-on-one with your very own expert to make sure your application is completed correctly. Get started today on the path to secure home ownership, order The Complete Loan Modification Guide. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com

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