Wells Fargo & Co. is holding a June 14 workshop in New Orleans for mortgage customers facing financial hardships, who might be eligible for mortgage modifications or refinancing.
The free Home Preservation Workshop is for 2,300 customers of Wells Fargo Home Mortgage, Wells Fargo Financial and Wells Fargo Home Equity, the company said in a news release.
The workshop will be from 9 a.m. to 7 p.m. at the Hilton New Orleans Riverside — Grand Ballroom at Two Poydras St. Parking for workshop participants is free at the self-parking lot at the hotel.
Local nonprofit credit counseling agencies — including Neighborhood Development Foundation of New Orleans, Greater New Orleans Fair Housing Action Center and A Shared Initiative Inc. — will be on site to assist homeowners who have credit problems beyond their mortgage payments.
Homeowners whose loans are “under water” — meaning they owe more on their mortgage than the value of their home — may be eligible to refinance their loan based on criteria including demonstrating ability to repay. Depending on eligibility for a loan modification, homeowners who are behind on their payments may also receive a principal reduction on their mortgage.
Customers should register for the workshop by June 12 at www.wfhmevents.com/leadingthewayhome or call (800) 405-8067 for more information.
“While our foreclosure and delinquency rates are below the industry average, and nationwide we have assisted more than 856,000 customers with modifications, our goal with this workshop is to help as many homeowners as possible avoid foreclosure,” Hugh Rowden, Wells Fargo Home Mortgage community outreach manager, said in a statement.
Where possible, borrowers will receive a decision on a workout, loan modification or other options, on site or shortly following the workshop.
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