San Francisco News

Wells Fargo hosts loan modification event

Thursday, December 08, 2011

Struggling homeowners in San Francisco are getting the chance to apply for a home loan modification if their mortgage is with Wells Fargo.

The bank is holding a session called a Home Preservation Event in San Francisco on Thursday in which customers can come in if they're struggling with their mortgage and get face-to-face help to avoid foreclosure.

Rochefuculd Rhodes is in a tough spot: Unable to make payments on his San Francisco home.

"I was caught in one of those loans where you had to pick your payment, was told some things that weren't true about it and I got caught up in the payment mortgage crunch," Rhodes said.

Rhodes' loan was with Wachovia, but he says he's happy to be dealing now with Wells Fargo.

"We find that if they can come in and talk with someone face-to-face and see a person that they will actually open up and tell us more about what they need and share their financial history with us," said Tracy Curtis with Wells Fargo. "They're just more comfortable, less intimidating."

Through outreach like the home preservation workshop, Wells Fargo has modified more than 700,000 home loans since 2009.

"Our goal is to keep people in their homes," Curtis said. "We don't want to foreclose on homes. We're not in the business of owning homes."

"I've got hope," said Rhodes. "They say keep hope alive. That's what I'm trying to do here. Keep my hopes alive to keep my property."

The event is in San Francisco at the Calvary Hill Community Church at 141 Industrial Street from 9 a.m. to 7 p.m. An appointment can be made, but walk-ins are accepted.

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mortgages, wells fargo, foreclosures, san francisco news
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