Get assistance from Wells Fargo.
Wells Fargo is one of the largest banking institutions in the nation. Struggling customers of this lender can get help with paying their debts, loans, or even home mortgages from a number of programs, including one known as Assist. Considering that they have tens of millions of customers across the country, and offer numerous products to them, including home loans, credit cards, car loans, and other financial products, Wells Fargo does need to offer some form of assistance when a customer is struggling.
From time to time a customer may need assistance to reduce or pay down their debts, get on track with their mortgage, or pay the bills. If and when this occurs, the lender does offer its customers numerous resources to help them in during their times of difficulty. Some of the services include credit card debt assistance, mortgage delinquency and foreclosure prevention counseling. The bank also offers programs to settle or consolidate debts, assistance for paying car loans, and emergency funding to pay bills. Get information on what programs Wells Fargo administers, and learn how they can help you.
Wells Fargo foreclosure and mortgage assistance programs
Wells Fargo is heavily involved in the mortgage market and have issued millions of home loans over the years They also ”inherited” loans from Wachovia when they acquired that bank. They are one of the nation’s largest lenders to anyone who is seeking to buy a house or refinance an existing mortgage. There are periods of time when some of their customers may need help with paying their mortgage or preventing a foreclosure. Foreclosure is always the last option, so the lender will offer free foreclosure counseling services, homeless prevention programs, loan modifications, and other assistance programs to homeowners.
Mortgage principal reduction - This can lower the amount of principal that the homeowner is responsible for repaying on their home loan. It may be the most effective solution to a mortgage difficulty as the total balance that the family needs to repay will be cut.
Mortgage hardship - If you are facing a short term financial emergency or hardship, this Wells Fargo solution may be for you. This type of program can provide a number of different solutions to a borrower, depending on their current financial situation. Everything from interest rate reductions to abatements may be offered as well as other solutions.
Lien modification - Modify your second mortgage or lien. Assistance can be provided in several different forms.
Free counseling - Wells Fargo has opened housing assistance centers in many cities. They are only open to existing customers of Wells or Wachovia, and they provide free foreclosure counseling. Homeowners can stop by a location and speak to a specialist face to face. More.
Wells Fargo foreclosure assistance - A summary of many of the programs and resources for Wachovia and Wells Fargo customers are listed here. The lender will try to work with its customers to prevent a foreclosure from occurring.
Project Lifeline and Fast-Trac - Two other options for subprime, adjustable rate and pick or pay home loans are listed here.
Short term advance loans
Many families and individuals need some short term cash to pay their monthly bills. Historically payday lenders met some of this need. However that industry is largely unregulated, and the fees and interest rates are steep. Wells Fargo is trying to offer a cheaper alternative to consumers so they can get quick cash to pay their bills and any emergency expenses they may incur. The money is available at a fraction of the cost, and the funds can help pay for any expense the borrower has, including their rent, credit cards, utilities, and much more.
Direct Deposit Advance - Receive emergency cash to pay bills from Wells Fargo. Funds are deposited directly into your checking account. The interest rates will be much lower than a traditional payday type loan.
Refinance auto loans or cash out loans from Wells Fargo
Studies show that less than 10% of the population knows that they can refinance an existing car loan. It is similar to a mortgage refinancing, in that a consumer may be able to receive a lower interest rate or change the terms of their loan. They can even cash out the principal in order to receive extra cash on their loan
The entire process is free, and there are no costs involved when applying. The resulting refinancing has been shown to save some people thousands of dollars over the life of the auto loan. Another benefit is that most car loan refis do not charge an application fee during the process.
Car loan refinancing - Get more information on the Wells Fargo automobile loan refinancing and cash out programs. The service is available for loans obtained for buying a new car or even when from a used auto dealer.
Wells Fargo credit cards and debts
Wells Fargo may write off up to 10% of their credit card accounts for certain struggling customers that are facing a financial hardship. When they write off an account they usually receive little or no money from the borrower, so it is not their first choice. It is also bad for the borrower in now their credit rating will be decimated.
So the bank’s first choice is to work with its customers on their credit card accounts, and they administer several programs to help do this including Assist. They offer credit card hardship programs, debt settlement, and consolidation options.
Debt management - The bank will have you partner with a credit counselor to work through debt issues that you may have. In some cases a settlement plan will be put into place. This may be the most preferred solution as the customer will receive professional counseling from a specialist.
Pay down debt - This assistance program involves the borrower taking out a personal loan to pay off other bills and reduce their debts. It is a form of consolidation, and it can help with everything from credit cards to medical bills.
The above are just some of the financial assistance programs offered by Wells Fargo. As noted, almost all of these apply to former Wachovia customers as well. Any struggling borrower should always seek assistance from the lender. For more information or to apply for help from Wells Fargo, dial 1-800-241-0028