Wells Fargo offers mortgage assistance to troubled Arizonans

Some consumers in Arizona who are having financial problems so severe they cannot afford to pay their mortgage bills may soon be able to find some relief.

Wells Fargo, one of the nation's largest mortgage lenders, will soon host a workshop for Arizona-based customers who are severely delinquent in making their monthly home loan payments, according to a report from Phoenix news station KPHO.

Severely troubled borrowers will be presented with a number of options for getting their finances back on track, the report said. These may include loan modification through the lender directly, or help enrolling in similar government programs.

Loan Type

State

FICO Score

Loan Amount

Points

LTV

Loan Term 15-Year Fixed 20-Year Fixed 30-Year Fixed 5-Year ARM 7-Year ARM 10-Year ARM

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Lender

APR / Rate

Fees / Points

Payment

NMLS #401822

5.554%

15-Year Fixed

5.250%

$8,000

Includes 1.000 points for $4,000

Lender Fees: $4,000

$3,216 /mo

Next >

NMLS #1025894

5.667%

15-Year Fixed

5.490%

$4,600

Includes 0.975 points for $3,900

Lender Fees: $700

$3,267 /mo

Next >

NMLS #6606

5.904%

15-Year Fixed

5.750%

$3,976

Includes 0.994 points for $3,976

Lender Fees: $0

$3,322 /mo

Next >

NMLS #1025894

6.720%

30-Year Fixed

6.625%

$3,916

Includes 0.804 points for $3,216

Lender Fees: $700

$2,562 /mo

Next >

NMLS #6606

6.844%

30-Year Fixed

6.750%

$3,880

Includes 0.970 points for $3,880

Lender Fees: $0

$2,595 /mo

Next >

NMLS #3030

6.869%

15-Year Fixed

6.750%

$3,000

Includes 0.750 points for $3,000

Lender Fees: $0

$3,540 /mo

Next >

NMLS #401822

6.884%

30-Year Fixed

6.750%

$5,495

Includes 0.875 points for $3,500

Lender Fees: $1,995

$2,595 /mo

Next >

NMLS #3030

7.589%

30-Year Fixed

7.500%

$3,500

Includes 0.875 points for $3,500

Lender Fees: $0

$2,797 /mo

Next >

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes and insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and product details.

Many other consumers may not be able to qualify for these modification programs, but may still be looking for relief. With this in mind, it may be helpful to seek a refinance. Using our online rate tables to get the best local mortgage rates may save homeowners hundreds of dollars a month on home loan payments.

The company will have close to 200 mortgage professionals on hand to answer questions at the two-day event, which will be held at the Phoenix Convention Center later this week, the report said.

Written by Candice Yee of Informa Research Services.

Author: Brian McKay

May 6th, 2011

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