Wachovia Loan Modification
The Wachovia Loan Modification is a very complicated program that most homeowners will need help navigating properly. This is a free program where the experts at Wachovia are available to assist you.
Since the takeover of Wachovia by Wells Fargo, the banking officials have decided to clean up the billions of dollars of bad mortgage mess as fast as possible. This is to the advantage of the homeowner needing help. To help assist mortgage owners with this process, there is a new department opened and operating at Wachovia for the sole purpose of making the loan modification process easier.
One of the requirements from the homeowner is to state monthly income. No present paystubs or income tax returns are needed. Only single dwelling homes are permitted under this program and they must be the homeowner’s principal residence. The aim is to have the mortgage payment at or below 38% of the homeowner’s income.
Even with the help of the professionals at Wachovia, this is a very complicated process. For the best and fastest way to navigate this process, it is advisable that a professional be hired. This person will be on your side and help you through the pitfalls.
By having a professional on your side, he will get you the best possible deal. Remember, this is still an institution that makes part of their income from people like homeowners who owe them money. It is to their advantage to get as high of a monthly payment as possible from every mortgage borrower. There are other financial institutions that offer the mortgage payments as low as 31% of the homeowner’s monthly income. The more knowledge you possess going in will bring you the best results.
For more information on the Wachovia Loan Modification, go to Wachovia Online Banking.