For the fourth time since 2009, Wells Fargo will host a workshop in Tampa Bay for homeowners who are either behind on their mortgage, or struggling to keep up. Despite a slight resurgence in the housing market, there are still a large number of Tampa residents who are either delinquent, or struggling to keep up with their mortgage. Recently, the giant bank sent out 4,000 letters to Tampa homeowners who were 30 days or more behind on their mortgage.
The workshop will seek to help these homeowners bring their mortgages current. The methods highlighted for assistance include reduction in principal, adjustment in interest rates, and reduction of monthly rates. According to bank representatives, a solution can be reached in person at the worship. Allegedly, Wells Fargo has assisted close to 1 million homeowners to modify their mortgages through similar events. The workshop will be held at the Grand Hyatt Tampa Bay on Tuesday August 5, 2014 from 9 am to 7 pm.
If you plan to attend, consumers should consider the following tips from DeWitt Law Firm:
- Plan to bring the following documents
- Your last two tax returns
- Your last 2 pay stubs (or 3 months profit and loss if self employed)
- Last 2 months of bank statements
- If the modification forms are not available at the workshop you should also bring
- Hardship affidavit
- 4506T form from the IRS
- Carefully review any documents that the bank representative asks you to sign or alleges may modify your mortgage. Do not cave into pressure tactics to sign a modification immediately. You should carefully review all documents, and best practice is to have an attorney review the documents for you.
- Plan to wait in line and fill out any additional documents that the representative may require
If you are behind on your mortgage, and cannot get the answers you require from the bank, call the DeWitt Law Firm today to discuss your options.