Divorce Modification With Wells Fargo In Georgia
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The Garn-St. Germain Act permits certain mortgage assumptions in divorce cases, even for conventional loans. Basically, it can help you avoid the "due-on-sale" clause in some situations, making it easier to assume a mortgage during a divorce.
To change your name on your accounts, you will need to meet with a banker in your nearest Wells Fargo branch. Please bring your updated photo ID and an original or a certified copy of any supporting documents (such as marriage certificate, divorce decree, or other court orders).
Improperly denied mortgage modifications: During at least a seven-year period, the bank improperly denied thousands of mortgage loan modifications, which in some cases led to Wells Fargo customers losing their homes to wrongful foreclosures.
Consumers were illegally assessed fees and interest charges on auto and mortgage loans, had their cars wrongly repossessed, and had payments to auto and mortgage loans misapplied by the bank.
Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. The scandal-ridden bank announced a significant shift on Tuesday to focus its mortgage business on serving bank customers and minority homebuyers instead of acquiring new customers.
A loan modification is a permanent change to the terms of your original loan. The purpose of a loan modification is to make payments more affordable for borrowers in financial hardship.
The check is meant to compensate you for overcharged interest, which is a separate issue from your loan modification itself. The bank is rectifying a past error, and this action shouldn't affect the terms of your current, ongoing modification.
No, you cannot remove someone from the mortgage without refinancing.
