Wells Fargo Bank is the second largest bank in the U.S. in terms of deposits, home mortgage servicing, and debit cards. As one of the largest banks in the U.S., I am often asked about loan modifications with Wells Fargo. Like all of the larger banks, Wells Fargo is offering loan modifications to client. Our firm has obtained modifications on homes serviced by Wells Fargo. A recent Wells Fargo Loan modification example is below.
Client J.W. in Riverside, California
Wells Fargo Home Loan
Payment before Modification (Principal, Interest, Taxes, and Insurance): $2,330
Modified Mortgage Payment: $1,473
Monthly Mortgage Savings: $857
Percentage Monthly Savings: 36%
This was an incredible loan modification for the client as it saves them more than a third of their payment each month and will save them hundreds of thousands over the life of the loan. Additionally, this client will be filing a chapter 13 bankruptcy and completely eliminating their second mortgage. While every loan modification is different and depends on a number of factors, our office can review your situation and give you a specific idea of what types of modifications are available.
In addition to Wells Fargo, our office has obtained loan modifications with numerous other banks including Bank of America, JPMorgan Chase, Citi, EMC, OneWest Bank, IndyMac, and several other banks. Call today to discuss your options. (951) 801-5570.