Well yes it's good news for those who are in an adjustable rate mortgage. This was brought up to my attention in the end of January. Something that I have seen help many people get a loan modification with some investors out there. This loan modification process is simple and very effective.

This is how you qualify.

1st: Do you currently have a Fannie Mae mortgage (must be 1st TD).

2nd: Have you been making your mortgage payments on time for the last 12 months?

3rd: Do you have a 620 FICO score or above?

Guess What? You now qualify to receive a fast streamline loan modification through your current lender. You are probably wondering that this is to easy, and your right. And here is the best things about this process.Since you are currently a Fannie Mae mortgage holder. You don't need to go through a long process to get some help.

You don't need to show any INCOME DOCUMENTATION. As long as you have a job you are good to go.

Well you might ask a question. "What if I am upside down on my mortgage?"

If there wasn't already a lot of good news 60% of these loan MODS do not require for you to have an appraisal done on your property.

WOW... this is what every investor should be doing. And from my knowledge most of them are

going to start offering this wonderful streamline process to maintain their clientèle and to avoid ending up with all those R.E.O.'s.

Hopefully this will help many of you. This is not an attempt to obtain any business I am simply trying to educate you with what some of the investors are trying to do.



Yancy Martin
Real Estate Finance
http://www.YancyMartin.com

Do you have any reference for this? Looking at the Wells Fargo website there is no mention of this loan modification program.

Yes. I am a broker and If you are a broker you should have your Account Executive found how you can get this done. It is fairly new that not a lot of people know about this yet.

I'm not in the lending biz, I'm a RE broker. Can you provide a reference for this loan modification program?

From my understanding it is only available to the wholesale side of wells fargo. Wells fargo signed a document that prevents there retail side to offer this program..

The only reference I have would be my account executive which is here in southern California.

The best advice I can give you is to try to talk to your Lending partners and have them talk to Wells Fargo to find an account executive to help them.

Hopefully this will help you.

Thanks.