Considering all the reports in the news about what the banks are offering to homeowners, you may be confused about how to apply for a Wells Fargo loan modification. The latest federal programs are available for borrowers who qualify-but you need to separate the facts from the fiction so you will know what you qualify for and how to apply.  The federal Treasury Department is funding $75 billion worth of homeowner assistance.  The plan is called HAMP and Wells Fargo is participating.  Here is some helpful information to get you started.

Wells Fargo loan modification Fact:  Help is available if you know how to get it.  The bank is offering some very aggressive loan workout plans for qualified borrowers.  The trick is knowing how to complete your loan modification application so that you qualify.  You must be able to prove in black and white that you meet the guidelines-do you know how to adjust your budget and calculate your debt ratio so you can meet the criteria?  Do not contact the bank until you know what you are talking about-what you say could hurt you!

Wells Fargo loan modification Fiction:  You have to be delinquent on your payments to qualify.  This is simply not true!  In fact, the latest federal programs actually pay the bank more incentives to modify mortgages that are current.  However, it is true that the bank will give priority to homeowners who are facing imminent default.

Wells Fargo loan modification Fact:  The bank will use a net present value (NPV) test on each loan to determine if a loan modification is more cost effective for them.  This is where the current value of your home and how you present your situation comes into play.  If you can show the lender that it is cheaper for them to modify your loan instead of foreclose, then you have a good chance of success.

Wells Fargo loan modification Fiction:  You will get a better result using an attorney or loan modification company.  For the vast majority of homeowners it is possible to get a very beneficial loan workout by working directly with the bank.  In fact, the lender, the federal government and President Obama are all warning homeowners against scams and high fees being charged to desperate, vulnerable borrowers.  As long as you have a basic understanding of how to complete your application so that you can meet the guidelines-you are the best person to work on your own loan modification.

You can get a lower payment with a Wells Fargo loan modification with just a little knowledge, preparation and persistence.  You do not have to feel overwhelmed or frightened.  Make the decision to invest a couple hours of your time to learn about the Wells Fargo loan modification process so that you will be able to apply and qualify for the loan workout you need.  Thousands of homeowners have already gotten the help they needed-you can too!

Don’t spend hours trying to figure this out all by yourself!  Get the help you need to prepare your own accurate and acceptable Wells Fargo loan modification application. The Complete Loan Modification Guide kit is the best selling do-it-yourself system that takes the guess work out of preparing your financial statement, hardship letter and all of the required forms your lender needs. You get an easy to use software program-Loan Mod Quick App-as well as an easy to understand handbook with step by step directions. 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! It couldn’t be easier-end the frustration-Visit myloanmodificationcenter.com and order today.