Question by Allen: will our lender start foreclosure if we are in the midst of trying to obtain loan modification? we have our mortgage in Illinois with Wells Fargo. We can no longer make the mortgage payment and called Wells Fargo who is mailing a loan modification pkg. to us. Meantime, we will not be [...]
This bailout plan will give a bulk of the $75 billion to mortgage lenders and banks, like Chase, who approve homeowners who are “at risk” of losing their home, or are facing other financial hardships.
Question by Darryl P: How do I calculate what my new payment would be if I refinanced my 30 yr mortgage? Current rate is 6.375% fixed Current Payment is $ 1,671.15 per month Loan Amt: $ 242k I have a BA-35 calculator, but can’t remember how to use it. Best answer: Answer by Gavin C [...]
If you contact Wells Fargo before you are prepared, you run the risk of giving them the wrong information which will hurt your chances of approval.
By Susan V. Gregory When you apply for a mortgage loan modification, your lender may ask for a good faith deposit. You need to know about this possibility, because if you are not able to provide what your bank asks for, your loan modification application could be denied. What is this and why might your [...]