| p>When you apply for a Wells Fargo Wachovia loan | | | | Affordable Modification plan calls for a target |
| modification, you will be asked to complete a financial | | | | payment that equals 31% of your gross monthly |
| statement that details your monthly income and | | | | income-and that includes your property taxes and |
| expenses. You will also be interviewed and the bank | | | | insurance and homeowners dues. That target |
| will ask you some questions about your financial | | | | payment is now the centerpiece of your proposed |
| situation. Based on the information you provide, your | | | | financial statement and shows that you can afford to |
| loan modification application will either be approved or | | | | pay the new payment, all of your bills and have a |
| denied. That is why it is so important to have your | | | | little bit of money left over. |
| forms already completed before you contact the | | | | Step #3 for completing your Wells Fargo Wachovia |
| bank. When you work on your application ahead of | | | | loan modification financial statement is to fine tune |
| time, then you can make any necessary adjustments | | | | your numbers so that it is clearly evident that you |
| so you fit into the approval guidelines. You can't go | | | | have eliminated any unnecessary expenses and will |
| back and change the information you provide, so use | | | | not be a risk of default in the future. Homeowners |
| these 3 easy steps to make sure you do it right the | | | | have been denied a loan workout over just a minor |
| first time. | | | | mistake that could have easily been adjusted-if only |
| Wells Fargo Wachovia loan modification step #1 is to | | | | they would have take the time to be prepared |
| gather all of your documents together so you have | | | | before contacting the bank and giving their |
| them ready to complete your financial statement | | | | information. |
| accurately. This is important because you must show | | | | A do it yourself Wells Fargo Wachovia loan |
| all of your bills and your correct income. The bank will | | | | modification is not hard-when you know the basics. |
| verify this information against your credit report, so | | | | You can avoid mistakes by following some simple tips |
| anything that is showing on your credit should be | | | | that will help make sure your paperwork qualifies you |
| disclosed. | | | | for a loan workout. Companies charge thousands of |
| Step #2 is to determine what your new target | | | | dollars to do this for you-but you can do it yourself |
| payment is-this is the goal and what you are trying | | | | when you prepare and learn ahead of time. |
| to modify your loan to achieve. The Home | | | | |