behind on Wells Fargo mortgage

[Joel Fraser]

Hello, I found this site a few weeks ago. We got behind on our mortgage this summer, starting with the July payment. We thought we were going to catch up but due to a garnisment for some medical bills, we weren't able to. We also haven't paid property taxes for the year yet. Our credit rating has tanked since we got this mortgage two years ago. It is a 9.95% fixed rate mortgage based on a 30 year loan but with a balloon payment at 15 years. Taking the advice here, we saw a housing counselor with CCCS on Sept. 11. She made up a financial statement from the information we provided, which shows a $284 net after expenses. She spoke with two different people at WF Home Mortgage. The first was a cs agent, then a loss mit agent. That person sugested if we could make a payment to do so, fax our financial info sheet from CCCS, two paycheck stubs, and a hardship letter to them. On Monday, September 15, we made a regular monthly mtg payment and faxed the info requested. On Friday September 19, we called and none of the documents faxed were posted to our account. So today, I will fax them again. I didn't see too many posts here about Wells Fargo. I just would like some indication whether they will work with us or not. We are not in an area of the country hit hard by the real estate downturn. Our home is still worth the 118,000 we paid for it, maybe slightly more. We owe 110,00 on it, no second mortgage. I really don't want to lose our home, but can't come up with the money to pay the past due. What are our chances of getting an interest reduction as well as tacking on the past due to the loan? That is what I asked for in the hardship letter. Or was that asking too much from Wells Fargo? I understand from reading news reports they have not been hit nearly as hard as other mortgage companies as far as defaults. Thanks for any advice or comments!