Wells Fargo and Wachovia have agreed to put a hold on about a thousand foreclosures after a group of Atlanta residents marched in protest of the growing number of foreclosures in that area. Georgia has been a state that has been hit especially hard by the mortgage lending crisis, with 20 failed banks in the state this year, many due to problems with bad mortgage loans.

Wells Fargo Mortgage
Wells Fargo Mortgage

Mortgage Workshops

In response to the consumer protests, Wells Fargo and Wachovia have decided that they will provide loan assistance to homeowners who are having trouble paying their mortgages. This weeks, the banks will offer free home preservation workshops, with specialists on hand to help homeowners with mortgages with any questions they might have.

In addition to the workshops, the banks have agreed to stop foreclosures in the Atlanta metro area until the end of the month, in an attempt to keep people in their homes.

In order to get mortgage assistance in your area, fill out the form available on the Wells Fargo website here.

Other Resources for Foreclosure Advice

If you are not a Wells Fargo customer and need assistance with issues with your mortgage or foreclosure, the US Department of Housing and Development has a very comprehensive website that provides great resources for people who are having trouble with their mortgage or are facing foreclosure. You can visit their website here.

There are also a variety of mortgage assistance programs provided by federal agencies and mortgage ending institutions that are designed to help homeowners facing a foreclosure, which are made available by Wells Fargo on their website. To view a list of these programs, click here.

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  • Guest

    WELLS FARGO’s policies and services concerning help and workouts for homeowners are terrible.

    What they tell homeowners and what actually happens are worlds apart.

    Their staffs are misinformed as to what to expect, how long the process will take, and what the true outcome will be. Most telephone associates are impathedic of client situations and are optimist for their chances of a successful resolution. One can only conclude that the phone reps are simply misinformed and kept in the dark by management as to what is truly going on behind closed doors to resolve their customer’s problem.

    They actually make very few changes to homeowner loans while experiencing large losses of income from unmade payments as customers wait for adjustments that are never made.

    One would expect government and consumer agencies to be all over this by now, but they are not.

    This could easily endup in a nationwide class action suit for fraud, and for the damages that are being inflicted on US families with Wells mortgages and for untrue reporting and lack of disclosure to share holders.

    Perhaps it will take someone sending Warren Buffet a copy of their communications file and telephone log with detailed notes between themselves and Wells to get action on this problem before it is fully understood by common share holders and mutual fund managers and they all head for the exit and sell at once.