Wells Fargo invites Washington homeowners to a free workshop for Wells Fargo Home Mortgage, Wells Fargo Financial, Wachovia Mortgage and Wells Fargo Home Equity customers facing financial hardships. Bilingual representatives will be available to assist borrowers during the event.
Home retention team members will assist and work one-on-one with mortgage customers facing payment challenges. Borrowers may receive a decision on a loan modification, or other option, on site.
Wells Fargo is making every effort to keep people in their homes. In the first quarter of 2011, about 93percent of Wells Fargo’s mortgage customers remained current on their loan payments. In the fourth quarter of 2010, the company’s combined delinquency and foreclosure rates were three-fourths that of the industry according to Inside Mortgage Finance.
As of March 2011, the company had 665,000 active trial and completed modifications, started since the beginning of 2009. Fewer than 2 percent of the loans secured by owner-occupied homes and serviced by Wells Fargo proceeded to a foreclosure sale in the last 12 months.
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