Wells Fargo Loan Modification-Program Steps to Approval

Posted by admin On May - 29 - 2011

Homeowners who can no longer afford their mortgage payment may be able to qualify for a Wells Fargo  loan modification under the government stimulus program.  The plan allows for home loans to be modified in order to give borrowers a lower and more affordable monthly mortgage payment so they can stay in their home and avoid foreclosure.  The program does have steps to approval that must be followed before the borrower will be given a loan workout.

Many homeowners have already been approved for the Wells Fargo  loan modification program, but many others have been turned down for help too.  Why are some approved while others are denied?  The sad fact is that most borrowers simply do not understand how to apply and just what they need to show on their application forms in order to meet the approval guidelines.  Here is some important information to know before you submit your paperwork.

Wells Fargo Loan Modification-Steps to Approval:

Guidelines Met!

  1. Do NOT disclose your financial information to the bank until you have had the chance to work on your budget and adjust your figures so that you know you pass the basic guidelines.  Since there is a mathematical formula used by Wells Fargo to determine who will qualify, it makes sense to use this same formula on your own application.  The loan mod calculator is available to borrowers and will automatically calculate a sample monthly budget to follow.
  2. Complete the Wells Fargo loan modification official application form, the RMA form is 3 pages long and includes a detailed accounting of your monthly income, expenses and bank balances.  It also has an Affidavit of Hardship which you must complete and sign under penalty of perjury.  Take your time with this form, remember that the bank uses the information you provide on the RMA to determine if you qualify for a loan mod or not.
  3. Be prepared to provide proof of income for any amount you show on the loan modification application.  Pay check stubs, tax returns, bank statements, award letters, Profit & Loss for self employed are among the acceptable methods of verification.
  4. Keep a Contact Log so that you can write down each and every action taken either by you or Wells Fargo, phone calls, faxes and mail correspondence.
  5. Make a complete copy package for yourself, verify that all of your figures pass the  guidelines by double checking them with the loan mod  calculator, sign everywhere required and send the entire package in for review.

Sample Monthly Budget-Follow It

Homeowners can greatly increase their chances by following these program steps to approval-remember it’s math not luck, and you can use the same mathematical formula that Wells Fargo uses on all  loan modification applications to be sure that your income & expense figures are accurate and acceptable.

Get help to apply and qualify for a Wells Fargo  loan modification, use the #1 resource for homeowners- The Complete Loan Modification Guide kit and Loan Mod calculator.  This tool will provide everything you need to succeed-step by step directions, all required forms and the  calculator automatically generates your own sample monthly budget showing if you are passing or failing and where to make your adjustments.  Visit

Download immediately!

MyLoanModificationCenter.com for more information.

2 Responses

  1. Loretta o Graham Said,

    William and I (Loretta Graham would like to see if we can apply for streamline loans or a principal reduction or an interest reduction loan. We should qualify even for even the Mortgage Principal forgiveness under Harmp 2 I receive a letter from y’all saying U.S bank is our invester. If so they are under Hamp 2 right

    Posted on November 1st, 2012 at 5:00 am

  2. Loretta o Graham Said,

    Please take a look at our loan we are at 10.6 % we want to stay in the home our taxes went down but y’all didn’t give us a little assist after President help y’all big Banks. I call and left message with Mr. Image Talati (home Preservation Specialist) but I haven’t receive a called from him only the letter saying we wasn’t approve for responding back in a timely matter. But we are truck drivers gone all the time and when we finally came home there was all our mail but we had past the time So thats why I called two weeks ago

    Posted on November 1st, 2012 at 5:23 am

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