Wells Fargo Program Requirements-Loan Modification Hardship

Posted by admin On September - 22 - 2011

What does it take to pass Wells Fargo loan modification requirements?  Most homeowners just guess at how to apply, and this usually winds up causing the bank to turn them down for any type of assistance.  Don’t let this happen to you-take a minute to learn just what you need to show on your application to have the best chance of approval.


  1. Financial Hardship:  loss or reduction in income, excessive debts, increased expenses (mortgage payment reset, medical bills, etc), lack of reserves (savings).  You will have to sign a Hardship Affidavit under penalty of perjury stating that you can no longer afford your current mortgage payment.
  2. Primary Residence: you must live in the home-the  program is not for second homes or rental properties.  You may need to show a utility bill to prove this requirement.
  3. Your current mortgage must have been originated prior to January 1, 2009 and the balance must be less than $729,750 for one unit property (higher allowed for duplex & fourplex)
  4. The current mortgage expense (loan payment, property taxes, homeowners insurance and any HOA dues) must EXCEED 31% of the

    Budget Requirements Computed

    total household gross monthly income.  If your current payment is already below 31% of your income, you will not qualify.  You can check your own debt ratio by running your budget through the Loan Modification Calculator-the program instantly calculates and displays your debt ratio, new target payment and modification terms.

  5. Your monthly financial worksheet included in the application must detail your income, expenses and assets for the household each month.  Your income cannot be too high or too low, your expenses must also pass the cash flow criteria and your assets must fit into the program as well.  This can be complicated, use the loan mod calculator to do all these figures for you – instantly and automatically shows you Pass or Fail and where you need to fine tune your own budget to qualify.
  6. Complete and sign the required forms:  RMA, Dodd Frank Certificate, 4506t, and provide income documentation (30 days of pay stubs, P & L for self employed borrowers)
  7. Wells Fargo will acknowledge receipt of your loan modification application package, and within 30 days will notify you that you qualify for a trial payment modification, they need additional or corrected docs from you, or that you do not qualify for a loan workout.

Perfect HAMP Application!

The secret to meeting the Wells Fargo  loan modification requirements is simple-it’s all about the MATH.  Your financial worksheet must show just the right amount of monthly income, monthly household expenses and assets.  The bank uses the standard formula -the loan modification calculator mimics that very same formula-so you can know ahead of time just what you need to show the bank to qualify.

Get the real answers you need- use the #1 selling resource for homeowners, the proven and powerful tool that works.  The Complete Loan Modification Guide kit and Loan Mod Quick APP calculator provides the real help you

Proven Results-Download immediately!

need-the loan modification calculator instantly and automatically computes and displays your very own sample monthly budget showing income, expense and asset requirements.  Get started today-visit MyLoanModificationCenter.com.

2 Responses

  1. Daniel Robinson Said,

    The system is a complete and utter failure and scam. I started a Home Modification program March 1, 2010 and threw the towel in after 8 months of no decision or response from any person from Wells Fargo. Then, at Wells Fargo’s suggestioin, I agreed to a mediation session to see if something could be worked out. I was told by HUD that a person of “decision making authority” would attend. The Mediation took place on December 1, 2011. Before the session, I was told that the WF rep would not be attending in person only by phone and that no decision would be made today on their behalf. This is a complete contradiction to what I was told by HUD. Then, during the mediation, the WF rep said she was missing paperwork which inlcuded an appraisal of the property. I told her I had it with me and sent it to her by email that very moment – which was received. Then I was told that WF did not recognize the appraisal and even though it had their name on the paperwork and their appraisal company issued the appraisal within the last 30 days, I was told a new “WF approved” appraisal would be done.

    At the end of the “mediation” session, I was told by the rep for WF that I would hear back from her with a decision on what WF could or would do within 10 business days. Again, that was December 1, 2011. It is now January 17th, 2012 and I have heard nothing. I have made 6 calls to the WF rep who attended the mediation and have never gotten her live. I have left messages each time with her and then with the person she recommended should be contacted if she was not available. I have also contacted the WF attorney on several occasions and have gotten nothing back from them as well.

    In my opinion this entire process screams scam…..

    Posted on January 17th, 2012 at 12:30 pm

  2. Bob Denver Said,

    You do not have to refinance with the people who have your loan. Go somewhere else. I did mine through Greentree. Up front they tell you it will be about 30 days until they get to your application, but after that they really come through. Excellent communication and fast.

    Posted on February 20th, 2012 at 1:07 pm

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