If you have a Wells Fargo mortgage and are falling behind on payments, here is what to do
This is a comprehensive guide about the mortgage assistance options Wells Fargo currently offers to homeowners who are having trouble making payments — including forbearance, repayment plans, loan modifications, and options for people who cannot stay in the home. It also covers how to apply, what documents you will need, and where to get free outside help if you need it.
- The most important thing to know is this: call Wells Fargo before you miss more payments. The more time they have to work with you, the more options are available. Once a foreclosure sale is scheduled, Wells Fargo needs to receive your documents at least 37 days before that date to have time to review your situation and potentially stop it. Do not wait.
To speak with a home preservation specialist, call 1-800-678-7986. For general mortgage customer service, call 1-866-234-8271, Monday through Friday 7 a.m. to 10 p.m. and Saturday 8 a.m. to 2 p.m. Central Time. If your hardship involves a home equity loan or line of credit, call 1-866-439-3557. You can also start an application online at https://www.wellsfargo.com/mortgage/manage-account/payment-help/.
For a guide to other mortgage assistance from other sources — including nonprofits, government programs, charities and other lenders / banks — see the main primary page about mortgage payment assistance programs.
Options That Let You Stay in the Home
Forbearance is for homeowners going through a temporary hardship — a job loss, a medical situation, a natural disaster — who need a short period to get back on their feet. It temporarily suspends or reduces your monthly mortgage payment for a set period of time. The missed payments are not forgiven — they will still need to be repaid — but forbearance stops a foreclosure from starting during that period and gives you time to stabilize your situation. If your hardship is still ongoing when the forbearance period ends, Wells Fargo will work with you again to look at other options.
A repayment plan is used when you have fallen behind on payments but your financial situation has improved enough that you can handle a somewhat higher payment for a period of time. The missed payments are divided into manageable amounts and spread out over several months, added on top of your regular payment until you are caught up. Your income needs to support the higher payment amount before starting this plan.
A loan modification permanently changes the terms of your mortgage — the interest rate, the loan length, or both — to bring your monthly payment to something more manageable for the long term. This is the right conversation to have when your hardship is not temporary and you need a lasting change to your payment rather than a short-term pause. A modification can also stop a foreclosure that has already been started, as long as Wells Fargo receives your documents more than 37 days before the scheduled sale date. Wells Fargo works with you to determine which modification programs you may be eligible for based on your loan type and financial situation.
Options That Require Leaving the Home
If staying in the home is no longer realistic, two options can help you avoid a full foreclosure on your record.
A short sale lets you sell the home for less than you owe on the mortgage, with Wells Fargo agreeing to release you from the remaining balance in most cases. You can stay in the home until the sale closes, which gives you time to make other arrangements. There are no out-of-pocket fees at closing. A short sale is a complex transaction with potential tax implications — consult a tax advisor before agreeing to one.
A deed in lieu of foreclosure means you voluntarily sign the home over to Wells Fargo in exchange for being released from the mortgage debt. There are no fees, and in most cases you do not need to try selling the home first before this option becomes available. Like a short sale, there may be tax consequences, and you should speak with a tax or legal advisor before proceeding.
What Documents You Will Need
When you contact Wells Fargo for assistance, they will ask you to submit a mortgage assistance application along with supporting documents. The documents you need will depend on your situation, but typically include a letter explaining your hardship, recent pay stubs or other proof of income, your most recent tax return, a list of your monthly expenses and debts, and your mortgage account information. Wells Fargo will contact you within 30 days of receiving your complete application. You can find a full document checklist at https://www.wellsfargo.com/mortgage/manage-account/payment-help/home-assist-reference/.
Free Outside Help
Wells Fargo's own assistance page recommends contacting a HUD-approved housing counselor, and that is good advice. HUD counselors are free and work for you, not for the bank. They can help you understand your options, review whether Wells Fargo's offer is reasonable for your situation, and communicate with the bank on your behalf. Call 1-800-569-4287 to reach HUD's national counseling line, or find an agency at https://answers.hud.gov/housingcounseling/s/?language=en_US. We also have a guide to using HUD counseling.
Military and Veteran Homeowners
If you are an active service member or veteran, additional protections and resources may apply to your mortgage. Wells Fargo has a dedicated page for military borrowers at https://www.wellsfargo.com/mortgage/manage-account/payment-help/military/.
A Warning About Mortgage Assistance Scams
Homeowners who are behind on their mortgage are heavily targeted by scammers. No legitimate organization will charge you a fee upfront to apply for a loan modification or get help from Wells Fargo — that is a scam. You should never pay a third party to negotiate with your lender, and you should never stop making payments to Wells Fargo and redirect them to someone else.
Be especially cautious of anyone who claims to offer "government-approved" modifications, guarantees they can stop a foreclosure, or pressures you to sign documents quickly without reading them. Wells Fargo will never charge fees for their assistance programs. If you are unsure whether an offer is legitimate, call Wells Fargo directly at 1-800-678-7986 or contact a HUD-approved counselor at 1-800-569-4287. Report suspected scams to the Consumer Financial Protection Bureau at https://www.consumerfinance.gov/complaint/
This page provides general information about Wells Fargo mortgage assistance programs based on publicly available information. Eligibility, program terms, and available options can change. Contact Wells Fargo directly at 1-800-678-7986 or at wellsfargo.com to discuss your specific situation. This is not legal or financial advice — consult a qualified advisor for guidance on tax or legal implications of any option.
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