Thursday, August 26, 2010

California Homeowner Finally Gets Loan Modification After Year & A Half Struggle As Media Exposure Apparently Lights Fire Under Mortgage Servicer

ProPublica reports:
  • Wells Fargo finally gave a loan modification to a long frustrated homeowner—after we profiled her last week. After ProPublica first contacted Wells Fargo about her, [Californian Suzanna] Wertheim received a call denying her a modification because of insufficient income. Then, after we published our story and Wertheim appeared on "The Rachel Maddow Show," Wells Fargo called her again. Wertheim feared bad news—that the bank was proceeding with foreclosure. Instead, Wells Fargo offered her a modification, bringing her payment down to an amount she says she can afford. Wertheim says the bank also eliminated over $20,000 in fees.

For more, see Profiled Homeowner Gets a Mortgage Modification.