Our lenders have begun foreclosure, if we’re trying to get a loan modification?
We have a mortgage with Wells Fargo in Illinois. We can no longer make mortgage payments and called Wells Fargo, which is posting a package of loan modification. us. In the meantime, we can not make payment. We do not want to face foreclosure. Is Wells Fargo foreclosure begins when one is a joint effort to obtain a loan modification with them? This is very troubling for us. Wells Fargo, we want to work with us, but what happens if we refuse? Do we have other options, or they offer other opportunities for us? Please help.