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Wachovia Loan Modification

Wachovia Borrowers Face Delays In Govt Foreclosure Program

by Moe Bedard

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 [...]

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Wells Fargo to hold workshops in Arizona on loan modifications

by Moe Bedard

Wells Fargo is offering a sit-down with a loan-modification specialist for its Arizona customers struggling to afford their mortgage payments.
The lender’s Home Preservation workshop at the Phoenix Convention Center is open to borrowers today and Thursday.

Wells Fargo has brought in hundreds of employees to work with borrowers. By Tuesday, 1,000 homeowners with Wells Fargo mortgages [...]

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WaMu: The forgotten bank failure

by Moe Bedard

“We’re still waiting to see how the Wachovia and Washington Mutual portfolios play out,” said Brian Olasov, who studies the banking industry as managing director at law firm McKenna Long & Aldridge. “We’ve got a big bulge in resets still to come.”

WaMu and Wachovia, now part of Wells Fargo (WFC, Fortune 500), helped stoke the [...]

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Wells & Wachovia Suck! The Mortgage Servicing Follies Continue…

by Moe Bedard

Wells Fargo CEO Stumpf worries that economy could cancel out his efforts to revive Wachovia and deal with toxic loans.
He should be worried and the investors that own these loans  should be more than worried. They should be in court suing Stumpf and these idiots for incompetent mortgage servicing practices. I have been writing about this [...]

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Another Wachovia Loan Modification Nightmare

by Moe Bedard

The facts are that Wachovia who is now “Wells Fargo” is one of the absolute worst and abusive mortgage servicers in the country.

Good luck getting a loan modification from Wachovia because you’ll need some huge luck and some “real” thick skin thrown in to get you through the most stressful process ever.

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I also better throw in a large dash of persisitence because this will be nothing short of the fight of your life!

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Citigroup will absorb Wachovia’s loans

by Moe Bedard

Wachovia announced this summer it would stop offering pick and pay loans, but that wasn’t soon enough for thousands of homeowners like Marie, who are already in those loans.
Citigroup did not return our calls on Monday seeking comment about what it will do with the existing loans and Wachovia said it was too early to [...]

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Wachovia Option-ARM Mortgage Losses May Force Merger

by Moe Bedard

Sept. 29 (Bloomberg) — Wachovia Corp., under increasing pressure after shares of the sixth-biggest U.S. bank by assets plunged 47 percent last week, may be forced to seek a buyer or merger partner as losses from mortgage defaults mount.
Three days after Chief Executive Officer Robert Steel told employees Wachovia was “strong and performing well,” the [...]

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Where’s the Wachovia Loan Modifications?

by Moe Bedard

Where’s the loan modifications Wachovia?
That’s what many homeowners are telling me daily and also your employees who seem readily available to tell us that Wachovia is not offering loan modifications at this time and to literally take a hike.
The San Francisco Gate came out with a story about Wachovia and there unwillingness to assist struggling homeowners today. I [...]

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Wachovia Says They are NOT Offering Loan Modifications to Struggling Homeowners

by Moe Bedard

The Soup Nazi from the TV show Seinfeld was known for his abusive customer service skills and saying, “NO soup for you, to the back of the line!” Now, it appears that he is working at Wachovia in the loan modification department.
Attention American homeowners, the FDIC, the OCC, the FTC, Barney Frank and anyone else who [...]

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