We all have heard of the benefits of a loan modification but what programs are available and which program will fit your specific situation and needs. These loan modification programs are specifically designed with you, the homeowner in mind.
FHA Loans : People with a low income and has very low to no savings. This program is especially attractive to first time home buyers because a feature of this loan is a very low down payment and credit requirements lenient.
Existing customers can Refinance Online: Current customers of Wells Fargo can apply directly online. Features of this loan are reducing your term and extending interest rates. The customer will also benefit from no application fee and no closing cost.
ARM (Adjustable Rate Mortgage Loans : If you are looking to refinance your loan after a specific time period but you still want the benefit of having a lower monthly payment, then this option may be for you. are fixed but may change periodically as the market oscillate.
Many homeowners will be applying for a loan modification and have no idea what programs in which they qualify for. By understanding that there are detailed sectors of this large Loan Modification program and that you may not meet the requirements of one sector but may meet them for another. So know what you qualify for and seek out help with producing the proper application and the documents you will be required to submit. Due to the economy, homeowners are finding themselves with very few options to gain control over their finances.
Wells Fargo's Loan Modification Programs can help and keep you in your home. You've worked hard for it .