Why so Hard?

Fighting to get a Wells Fargo loan modification?  The process can be extremely frustrating-it seems that no matter what you do the bank finds a reason to turn you down.  However, there are a few things that you can do that will greatly increase your chances of approval, and get the bank to approve you faster.

A Wells Fargo loan modification will only be offered to a borrower who can prove that their situation meets the strict underwriting guidelines.  The approval guidelines require that an acceptable financial worksheet be submitted by the homeowner, and that the current mortgage can be modified to reach a new, affordable monthly payment using standard methods of modification.

Basically, it is your responsibility to show Wells Fargo that you are the perfect candidate-and that can be hard to do unless you know ahead of time exactly what you need to show them on your application.  Here are some simple steps you can take that will help you get approved:

  1. Find out ahead of time what you need to report to the bank for your monthly budget figures-this is critical to the approval process because the information you provide will be used in the underwriting review.
  2. Make any adjustments to your gross monthly household income before you submit for review-find out if you need more or less income in order to pass the guideline.  Use the Loan Mod Calculator to find out exactly what you will need to report.
  3. Fine tune your monthly household expenses so that your current cash flow and after-mod cash flow pass the approval guidelines.  You may need to cut some expenses or include some additional items-the Loan Mod Calculator can show you just what needs to be done.
  4. Find out if you will pass the Waterfall Modification Method-and learn what you lowest new modified payment could be.  Your loan must pass this criteria in order to get approved-the Loan Mod Calculator will show you the new terms, including interest rate and new payment.
  5. Find out if you should ask for a principal reduction-if  your home is underwater then you may be able to get a balance reduction!  The Loan Mod Calculator will display the amount of reduction you could be eligible for.

Knowing how to get approved for a Wells Fargo loan modification is the secret-and since the same approval guidelines are used for every homeowner it is possible to use this information on your application figures.  Remember, no matter how deserving your situation may be, unless your report the acceptable amount of income, expenses and assets you will not be approved for the help you need.

Get the real answers you need to qualify-use the #1 selling resource for homeowners to help you apply correctly.  The Complete Loan Modification Guide kit and Loan Mod Calculator were

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designed specifically to compute and display the specific requirements for your income, expenses and assets using the standard bank approval formula.  Avoid mistakes, save time-visit MyLoanModificationCenter.com today.

1 Response

  1. ragnar albertsen Said,

    yes here it is 2013 and i am going thru the same problems waiting a second time to see if wf will help

    Posted on September 8th, 2013 at 5:44 pm

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