Wells Fargo holds Home Preservation Workshop at LA Convention Center

LOS ANGELES (KABC) -- Wells Fargo is holding workshops at the Los Angeles Convention Center to help struggling homeowners avoid foreclosures.

Borrowers who are having a hard time making their payments can meet with Wells Fargo representatives to see what relief may be available. Many people are able to receive a modification on the spot.

The Federal Home Affordable Modification Program, known as HAMP, and Wells Fargo's own programs have helped more than 700,000 customers modify their loans in the last three years.

Many who attended the free workshops Wednesday said they've had their incomes reduced, and they're struggling to make their payments.

"I received notices. You know, they say my house might go into foreclosure. Due to the high payment, I haven't paid. So, I'm here to see if I can get any help," said Palmdale homeowner Jerry Mendez.

Wells Fargo representative Rullah Price said the key is to "call early and call often."

"We're able to encourage well over 80 percent of customers that we get in contact with, we're able to help seven out of 10 of those customers receive an alternative to the foreclosure process," Price said.

An appointment is not required, and walk-ins are welcome. Homeowners need to bring financial documents in order to make their case.

The Wells Fargo Home Preservation Workshop will be held for two days at Hall B with free admission.

Wells Fargo Home Preservation Workshop

Los Angeles Convention Center - Hall B
1201 S. Figueroa St.
Los Angeles, CA 90015
Wednesday, March 14 - Thursday, March 15
9 a.m. - 7 p.m.

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housing market, save money / consumer news, melissa macbride

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