for those of you who have a wells fargo mtg

[debtisbad4u]

I have my mortgage thru Wells Fargo, I live in Iowa. I called them a couple of weeks ago to find out about all of this Obama legislation and how it might affect me. They told me I could send them a letter stating why I am having financial hardship and a list of all of my expenses and debts and then they would review it and possibly take my interest down. I am at 7% interest. I am also hoping they might lower my payment. Any one had any luck with this from WF?

[relief13035]

I finally got a hold of the right person at CitiMortgage regarding the same thing. They took all my information over the phone and told me that I would know within 3 weeks which programs are available for me.

I really hope this helps tons of people stay in their homes.

[debtisbad4u]

yes I agree. I followed up with phone call this week also. I try to stay on top of these things.

[vicmost]

I live in California and recieved the same letter after not paying for 3 months...I eventually called it in and they TOLD me that they would not accelerated the loan and start foreclosing as long as I caught up the payments by May 5 2009. They said they would also send me some paperwork to fill out so that I could be considered for a loan modification...I didn't fill out the paperwork and just glanced over it as don't think that I will qualify for a loan modification (I have a second through someone else and plan on filing chapter 13)...
I recently sent them a couple of payments and I reviewed the documents they sent me. There was a posted deadline for filling out the paperwork that had passed. I promptly called them and different rep. told me that my home could be foreclosed upon anytime. The agreement I had on the phone is not binding although it is noted in there computer????
I'll send in the paperwork will continue the payments as we agreed on the phone...I hope that it buys me the time I need but it sure is strange the way they handled it.

I wonder if anybody has submitted a letter and got a result...I'd like to see one..

[BrokeinCA]

We have one of those volitale Pick a Payment loans from Wachovia (now Wells Fargo). We spoke to the lender on last Friday and we were ask to send in a hardship letter and our budget which we did today. I also included pay stubs for the last 30 days and a home valuation that shows our home is valued over 160k less than our mortgage. We are hoping to get a modification to our intereste rate and a principle redction. I'll keep you posted on any updates. Wachovia was resisting modifications (we have been denied once already), but since Wells Fargo took over it appears people are having success.