Your personal financial situation and budget will be the biggest factor in determining whether or not you will be accepted for a home loan modification with Wells Fargo. You need to have clear financial goals, and a good idea of what your mortgage payment needs to be at to help you get approved.

Next, and maybe the most important thing you need to do, is completely and accurately, fill out all necessary forms and paper work associated with a mortgage modification. This shows the bank you understand the situation and have done the research to prove it. You chances of being approved will be increased, and the speed of approval will generally be faster because everything is proper and accurate.

Wells Fargo is one of the biggest companies in the industry and they handle hundreds, sometimes thousands in times likes these, applications per day. Incomplete, improperly filled, or inaccurate home loan applications for refinancing or modification may be declined returned to you and needed to be resubmitted. This would make the whole process start all over again. Do it correctly the first time, and their should be no problems with getting it returned to you.

For the majority of homeowners, this may be their first time dealing with a home loan modification. In this case, you should be research prior to applying anything. Wells Fargo offers help, guidance, and online manuals and tools which can easily help you make your decision. These are super resourceful tools to have when refinancing a home loan, writing a financial hardship letter, or seeing if refinancing or modification or a home loan is even the right thing to do.

With the record number of foreclosures across the country, Wells Fargo is doing everything they can to allow homeowners to stay in their home. Foreclosures hurt everyone involved, and even homeowners who are already in the foreclosure process can get help. Their has never been an easier or more beneficial time to get a home loan modification than there is now.

-M Petrone

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