| One of the most difficult companies to get a loan | | | | because of some unforeseen event that has recently |
| modification from is Wells Fargo, also known as | | | | transpired. This should be a true recollection of events |
| Wachovia. They are very stringent in their rules and | | | | which have affected you financially and it should be |
| unlike other lenders who are very open to | | | | able to convince the lender. |
| modifications under the new federal plans devised by | | | | 2. Completely explain the events which led to your |
| President Obama, they do not allow many | | | | present financial hardships. There should be no lies |
| modifications. One of the most crucial parts of your | | | | included in the letter as the lenders have their own set |
| application when you apply for modification to Wells | | | | of verification methods. Even if they have a tiny bit of |
| Cargo is the hardship letter. This letter is the most | | | | doubt that you are lying, then they will reject the |
| important part of your application with any lender but | | | | application. |
| with Wells Fargo, it is almost more important than the | | | | 3. Include everything in the hardship letter. There should |
| application itself. There are a few basic rules which | | | | not be any beating about the bush. The rate of interest |
| you need to comply with when you type out a | | | | which you want and expect should be clearly |
| hardship letter to any lender and it has to be even | | | | mentioned in the letter as there is no point in making a |
| more perfect in case of Wells Fargo. Some of the | | | | sly connotation to the same. In this way, the lender will |
| aspects to be included in the hardship letter are: | | | | come to know that you are serious about making this |
| 1. You should provide a plausible explanation of your | | | | work and keeping your home. |
| current situation and the hardships that you are facing | | | | |