Loan Modification with Wells Fargo?

I have just been denied for a loan modification with Wells Fargo. THey say that I still have cash flow at the end of the month. Do you know what is the amount they consider to deny a modification. I have heard that I shouldn't have too little but not too much. But what quantities are we talking about? Thanks for helping!!!

5 Answers

  • Anonymous
    1 decade ago
    Favorite Answer

    Stop trying to go it alone and talk to some professionals. Talk to lots of loan mod companies and attorneys. Don't stop with just one. Ask lots of questions and you'll get lots of free, useful information. Some will try to pressure you to go with them but just ignore it. Start now! Don't think that the bank has your best interests in mind, especially those bandits at Wells Fargo. They're trying to squeeze every last dollar out of you.

    Consider calling HUD at (800) 569-4287 and take advantage of their free financial counseling services. Another good place to start is the website the Federal Government set up to educate homeowners about the loan modification process. See

    Homeowners don't need to pay a company to obtain a loan modification. However, sometimes it can be better to have someone, such as a lawyer or credit counselor, negotiate on your behalf. A good strategy is to talk to as many experts as you can prior to contacting your bank. Many of these services will give you a free consultation.

    A good site I used to begin the education process can be found at where I entered some details about my current mortgage and the company got back to me multiple loan modification proposals.

  • Ebonie
    Lv 4
    4 years ago

    The horror stories are real because there is a conflict of interest in the mortgage industry today. The conventional wisdom that mortgage companies don't want to foreclose is turning out the be a big lie in most cases. Often right now they company that services the loan is not the same person who invested in your loan. So wells fargo might be collecting your payments and fees, but someone else is on the hook if you default. In cases like that, the servicing company often would prefer NOT to help home owners since they make more money when your late (they get extra money from the investor) and they also get extra money if in fees from the investor if your home for-closes. So basically it is working like this: You put a bunch of money into your home but then have a change of circumstance which makes you unable to pay. The mortgage servicer doesn't want to help you because they are making money from the fees of your failure. The "investor" in theory would lose but they are being bailed out by the government. So you and the other tax-payers are getting shafted, while the "servicer" makes money, and the investor gets bailed out.. nice eh? Unfortunately we home owners are pretty powerless. The only thing we can do is sue. Maybe if enough of us get ANGRY then change will be forced upon the scum feeders.

  • Anonymous
    1 decade ago

    try this site..

    Do You Qualify?

    1. Do you live in the home?

    2. Is your current loan amount within the Fannie Mae conforming limits ($625,500 in high cost areas

    and for other areas it is $417,000)

    3. Are your current house payments more than 31% of your gross income?(Loan modification kits can

    help with all financial calculation your lender may want to see)

    4. Are you must be able to prove you have current income?

    5. Do you currently have a job?

  • Anonymous
    1 decade ago

    Wells fargo will do loan modification. You have to prepare your financial statement accordingly for a successful loan modification.

    If you have a trutess sale we can still help you. We can stop the sale and get your loan modified.

    call me 800-279-4356 or visit our website. It is in my profile.

    Source(s): yahoo
  • How do you think about the answers? You can sign in to vote the answer.
  • MKD
    Lv 4
    1 decade ago

    Forget Wells Fargo they do not want to modify loans. We tried and failed and now our house is up for auction this Friday. They don't care about helping you nor anyone else. If you hear that they really don't want your house that is false. If they don't want your house they would do all they could to help you modify your loan. I would call WF and ask what the requirements are but don't expect to get an answer because that question is not on their script and they have trouble answering questions if it takes them off script. Have you tried HOPE Now? Sorry from our experience WF sucks big time.

Still have questions? Get your answers by asking now.