Wachovia Borrowers Face Delays In Govt Foreclosure Program

by Moe Bedard · 0 comments

in Mortgage Servicers

For many of Wachovia’s struggling mortgage borrowers, getting a loan modification with Uncle Sam’s help is still out of reach.

Richard Bell, a Pick-A-Pay mortgage borrower at Wells Fargo & Co. (WFC) unit Wachovia, says he needs a government-assisted mortgage modification before his payments balloon early next year.

“This loan is blowing up on me and I’m trying to keep my house,” Bell told a Wachovia representative this week, in conversations reviewed by Dow Jones Newswires.

But Wachovia, now owned by San Francisco-based Wells Fargo, has been telling the San Diego publishing executive every week since June that he will have to wait.

Read more from the Wall Street Journal

Leave a Comment

Previous post:

Next post: