Each loan arrangement is treated differently by Wells Fargo
depending on where you are in the mortgage cycle, what state you are in and what the chances are to modify or cure your mortgage are after an evaluation with a Wells Fargo
mortgage rep. If you feel like you are headed to foreclosure
I advise you to take the initiative and call your lender and ask for any of the following; repayment plan, home loan modification, short sale (you lose the home but your credit won`t be damaged) or a deed in lieu (again, home is lost but credit is saved). the foreclosure
process will normally begin after 3 missed payments and there is no set time for how long
it can last. Right now it is a unique situation in the United States where people are not paying their mortgages but banks in many cases are also not initiating the foreclosure allowing people to live in the house
for free for several months and sometimes years. You can`t expect this of course so get in touch with Wells Fargo
and see what can be done in your situation.