Can I qualify for the Obama Home Loan Modification Plan at Wells Fargo?
In order to qualify, the home must be your primary residence. Second, the first lien must be no greater than $729,750. You do not have to be late. The goal of the plan is to reduce the borrower’s monthly payment to no more than 31% of their front-end debt to income ratio. This applies to loans in Nevada as well as all other states. NOTE: If you do not qualify for this specific plan (investor property, larger loan amount) many other loan modification programs are available. How do your fees work? We do not charge an upfront fee for our services. Instead, we spend significant time at the beginning of the process to qualify our clients and understand their goals for a loan modification. After we deliver a free qualification, the client has the option to continue with our services and submit a full and complete loan package to the lender, in support of a loan modification. Do I need to be late on my mortgage payments to qualify for a Wells Fargo loan modification? No, you do not have to be
