Wachovia mortgage rates | Home Mortage

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 11, 2011 -- Having their home slip right through their hands is something that keeps many homeowners living in daily fear. The tanking global economy is causing incomes to decrease but loan payments are remaining stable. This creates a situation that is unaffordable for many homeowners, especially if they have been laid off or had to take pay cuts at work. This article outlines requirements for Wachovia bank loan modification and helps you make a decision.

If you’ve got a mortgage issued from Wachovia, you could potentially have them modify your loan. They generally require applicants to be the principal resident of the home in question and the home must be a single-family unit (not a rental or multi-unit property.) Your total amount of debt must not exceed 45% of your gross monthly income, including credit card debt, bills, mortgage loans, education loans, and vehicle loans. Not everybody qualifies for loan modification by Wachovia, but it’s good to look into one of their available plans and see how it can help you.

A financial counselor should be your first stop if you really want a loan modification on your home mortgage. Financial counselors can give you independent counsel and advice on all your home loan options (regardless of how profitable they are for your lender). They have your best interest in mind, and can fight to get you the equitable solutions you need and deserve. Having legal representation from your financial counseling firm gets you fair modification.

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