Wells Fargo Helping Long Island area Customers Facing Mortgage Payment Challenges
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John Mitty Tuesday, July 3, 2012
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Wells Fargo to Help Long Island area Customers Facing Mortgage Payment Challenges at July 17 & 18 Home Preservation Workshop
More than 40,000 homeowners invited to free event; many prepared homeowners to receive modifications on the spot – two more planned for NYC-area
LONG ISLAND, NY – June 26, 2012 — Wells Fargo & Company (NYSE: WFC) for the first time is hosting a free Home Preservation Workshop on Long Island for Wells Fargo Home Mortgage, Wells Fargo Financial, and Wells Fargo Home Equity customers facing financial hardships. Wells Fargo has invited 40,000 mortgage customers in the Long Island-area to the free workshop which will be held on Tuesday, July 17 and Wednesday, July 18 from 9 a.m. to 7 p.m., at the Nassau Veterans Memorial Coliseum at 1255 Hempstead Turnpike, Long Island, N.Y. Parking and attendance are free.
How to register for Wells Fargo’s Long Island Home Preservation Workshop
Walk-ins are welcome, though registration is strongly recommended in order to guarantee the ability to meet one-on-one with a representative. Sign up by Sunday, July 15, at www.wfhmevents.com/leadingthewayhome. For more information call 1-800-405-8067.
Others in the Area – For those that can’t attend the Long Island assistance event, Wells Fargo will also host Home Preservation Workshops on July 31 and Aug. 1 at the Brooklyn Marriott at 333 Adams Street, Brooklyn, N.Y. – and on Aug. 8 & 9 at the Meadowlands Expo Center, 355 Plaza Drive, Secaucus, N.J.
“Although less than 2 percent of homeowner-occupied loans in our servicing portfolio have resulted in foreclosure sale over the past year, we understand that some of our customers are going through difficult times during this economic recovery,” said Marie Day, Wells Fargo Home Mortgage regional servicing director. “During this free workshop Wells Fargo home mortgage customers, who are faced with payment challenges, will have the opportunity to meet face-to-face with our home preservation specialists to explore the options available to them. Our goal with this workshop is to help as many people as possible preserve homeownership.”
This is the first Home Preservation Workshop Wells Fargo on Long Island and 68th the company has hosted since Sept. 2009. About 75 Wells Fargo homepreservation specialist team members – including bilingual specialists – will be on hand at the upcoming workshop to assist customers. Where possible, borrowers will receive a decision on a workout, loan modification, or other options, on site or shortly following the workshop.
Options include Wells Fargo’s own loan modification program and the federal government’s Home Affordable Modification Program (HAMP). This will be the thirteenth scheduled workshop Wells Fargo has hosted in 2012. Wells Fargo has met with more than 35,000 customers at 66 Home Preservation Workshops since Sept. 2009 nationwide.
Customers facing mortgage payment difficulties also can call 1-800-678-7986 for more information about potential options to avoid foreclosure.
About Wells Fargo’s Home Loans
- Wells Fargo originates one in every four home loans in the country, and services one of every six.
- In the first quarter of 2012, more than 93 percent of Wells Fargo’s mortgage customers remained current on their loan payments.
- From January 2009 through March 31, 2012, Wells Fargo has modified 749,806 mortgage loans. Of those modifications, 84 percent were done through Wells Fargo’s own modification programs and 16 percent were through the federal government’s Home Affordable Modification Program(HAMP).
- As of the first quarter in 2012, Wells Fargo’s delinquency and foreclosure rates remain significantly below the industry average.
- Less than 2 percent of the loans secured by owner-occupied homes and serviced by Wells Fargo resulted in a foreclosure sale in the last 12 months.
- Just 6.89 percent of the first mortgage and home equity loans Wells Fargo services were past due or in foreclosure in the first quarter of 2012 compared to an industry average of 10.88 percent. Wells Fargo’s totals are down from a peak of 8.96 percent in the fourth quarter of 2009.
jmitty@longislandyellowpages.com
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