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Alex Esquire
Alex Esquire, Attorney at Law
Category: Real Estate Law
Satisfied Customers: 16721
Experience:  Experienced Licensed Attorney / Real Estate Law Mentor
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, Got the first/original modification that

Customer Question

Customer: Hi, ***** ***** Delmonico
JA: Thanks. Can you give me any more details about your issue?
Customer: Got the first/original modification that came out through Wachovia. The single point of contact at Wachovia told us we should get the "new and improved" modification because the original ones were not fixing the predatory loans and got approved. During the application process Wachovia became Wells Fargo. We got the final docs, signed them and sent via FedX to Wells Fargo. Wells Fargo claims they never received them. We got 3 months behind on our payments during a new Wells Fargo home modification application. Wells Fargo denied the modification and told us to re-apply. From that point on Wells Fargo would not take a monthly payment stating we had to pay "all (the behind payments). nothing". Even though we were approved for the "new and improved" modification Wells Fargo denied us a modification 3 more times. We are now 2 1/2 years behind ($70,000)! Today, while talking with Wells Fargo's Re-Entry Department I was told we could no longer apply for the modification and that an "Act of Foreclosure" letter was sent out to us yesterday December 17.
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Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Alex Esquire replied 1 year ago.

Hello. My name is***** will be happy to answer your question.
I am sorry to hear about this unfortunate situation.
Please note, I cannot comment on your specific situation, as this services is only limited to general information and for any legal advice / legal service you should contact your local attorney.

What is your legal question about the situation you have described?

Customer: replied 1 year ago.
Can a real estate attorney legally stop a foreclosure from happening, and make a modification happen even though Wells Fargo Home Mortgage denied us a modification 4 times because they determined we can afford the current loan and don't have the right debt to income ratio?? Sorry really two questions but we need to know they can/cannot before signing a legal contract binding us to pay them for the service.
Expert:  Alex Esquire replied 1 year ago.

Thank you for your follow up.

Unfortunately, there is no legal right to mortgage modifications and such modification applications by the home owner are reviewed and granted / denied based on the mortgage bank's guidelines and discretion.

So an experienced real estate attorney can help pursue an application for modification and help to negotiate with the mortgage lender, but there is never a guarantee that an attorney can get a mortgage modification approved.

I wish you the best of luck!

Expert:  Alex Esquire replied 1 year ago.

Please let me know if you have any related follow up questions?

If not, please positively rate and accept my answer, so I can be compensated for my work.

Thank you.