11-03-2009, 02:28 PM
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Wells Fargo Loan Mod Question
I applied for a loan mod through Wells Fargo. Got a letter in the mail today with a lowered payment plan for 3 months and then a big balloon payment on the 4th month. Called to ask about this and they said that if you make the three smaller payments on time they will then re-evaluate your financial situation and if it is still in hardship will then grant a loan modification. Does this sound right to you?
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11-03-2009, 04:46 PM
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I don't like to play these "what might happen" scenarios, it's like dangling a carrot in front of a donkey to get him to go where you want. To me it seems like they're just trying to get you to make those 3 payments, then they'll hound you later for the rest.
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