Local nonprofit credit counseling agencies – St Ambrose Housing Aid Center, Belair-Edison Neighborhood, and Neighborhood Housing Services of Baltimore – will be onsite to provide assistance to homeowners who have credit challenges that extend beyond their mortgage payments.
Homeowners whose loans are “under water” – meaning they owe more on their mortgage than the value of their home – may be eligible to refinance their loan based on certain criteria, including demonstrating ability to repay. Depending on eligibility for a loan modification, homeowners who are behind on their payments may also receive a principal reduction on their mortgage.
How to register for Wells Fargo’s Home Preservation Workshop:
Walk-ins are welcome although registration is strongly recommended in order to guarantee the ability to meet one-on-one with a representative. Customers should register for the Baltimore by Oct. 6 at www.wfhmevents.com/leadingthewayhome or call 1-800-405-8067 for more information.
“While our foreclosure and delinquency rates are below the industry average, and nationwide we have assisted more than 882,000 customers with modifications, our goal with this workshop is to help as many homeowners as possible avoid foreclosure,” said Marie Day Hayes, Wells Fargo Home Mortgage Community Outreach Manager. “During these free workshops, Wells Fargo Home Mortgage customers who are faced with payment challenges will have the opportunity to meet face-to-face with our home preservation specialists to explore the options available to them.”
Where possible, borrowers will receive a decision on a workout, loan modification or other options, on site or shortly following the workshop. Options include Wells Fargo’s own loan modification program and the federal government’s Home Affordable Modification Program (HAMP). About 75 Wells Fargo home preservation specialist team members, including bilingual specialists, will be on hand at the upcoming workshop to assist customers.
facing mortgage payment difficulties also can call 1-800-678-7986 for more
information about potential options to avoid foreclosure.