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Fill Out Your Wells Fargo Mortgage Hardship Form

The Wells Fargo Mortgage Hardship Form is a document designed for homeowners experiencing financial difficulties to request assistance with their mortgage payments. By completing this form and providing the required documentation, borrowers may explore options to avoid foreclosure. To get started, please fill out the form by clicking the button below.

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Article Structure

The Wells Fargo Mortgage Hardship form serves as a critical tool for homeowners seeking mortgage assistance during times of financial difficulty. It initiates the process through which borrowers can request help with their mortgage payments, particularly in situations that may lead to foreclosure. The form requires detailed information regarding a homeowner's financial situation, including income, expenses, and the reasons for hardship. Essential documents, such as the Homeowner Assistance Form and IRS Form 4506T-EZ, must be completed and submitted within a specified timeframe to ensure eligibility for assistance. Each borrower is encouraged to work closely with a home preservation specialist who will guide them through the entire process, ensuring that they understand the requirements and available options. Contact information, including a dedicated telephone line and correspondence address, is provided to foster communication and support. This timely submission of documents is crucial; delays could jeopardize the opportunity for viable mortgage relief options. With specific guidelines on what evidence of income is needed, the form highlights the importance of transparency and thoroughness to achieve a favorable resolution for the borrower.

Wells Fargo Mortgage Hardship Example

Contact Information

Fax: (866-)897-3415 Telephone: (800) 275-9254

Correspondence: MAC N0005-083 800 Walnut St.

Des Moines, IA 50309

Hours of operation: Mon.–Thur. 7:00 a.m. – 10:00 p.m. Fri. 7:00 a.m. – 8:00 p.m.

Sat. 7:00 a.m. – 6:00 p.m. Sun. 8:00 a.m. – 7:00 p.m. Central Time

Subject: Information required from you supporting your request for mortgage assistance

Dear Borrower,

We‘re responding to your request for mortgage assistance. As the first step in the process, we‘ll need to receive specific documentation from you, which is why we‘re writing you today. Working closely with you, your home

preservation specialist will help you through every step of the process and will explore all the options available, taking your situation and financial circumstances into consideration.

Along the way, your home preservation specialist will keep you informed and do everything possible to move you through the process quickly. We encourage you to respond promptly to any communications and requests for information. And please understand, if you do not provide information in a timely manner, it could impact your eligibility for mortgage assistance.

How to get started

Please call your home preservation specialist right after you receive this package. He/She will walk you through all the enclosed materials and help you start the process. In addition, the instructions included in this package will

also help you understand what‘s enclosed and what you need to complete and return so the process can move

forward.

It‘s important for you to act quickly and return the documents required within 30 days of the date of this letter. That‘s because the sooner you respond, the more options may be available to help you avoid foreclosure.

We’re here to help you

We look forward to working with you and encourage you to contact us with any questions you may have about the materials in this package. You can reach a Wells Fargo Home Mortgage representative is available to help you at 1- 800-275-9254.

Sincerely,

Wells Fargo Home Mortgage

Enclosures

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Important points to understand

Helpful information about foreclosure

It‘s important to remember that if you do not make your mortgage payment(s), the foreclosure process could begin or continue during the time you‘re working through the mortgage assistance process with us.

We will continue to do what we can to help you avoid a foreclosure sale. As part of the foreclosure process, you may receive notices from a third-party attorney delivered by mail, or see steps being taken to proceed with a foreclosure sale of your home.

Where to turn if you’re struggling with other expenses

Sometimes customers have trouble keeping up with their monthly expenses, other than their mortgage payments. If this is happening to you, help is available at no cost from a HUD-approved, non-profit credit counseling agency. Simply call a counselor who will work closely with you to lower your other monthly payments, take your financial circumstances into consideration, and create a budget plan to work for you. To find an agency in your neighborhood, call 1-800-569-4287 or call the HOPE Hotline at 1-888-995-HOPE.

Beware of foreclosure rescue scams

Be sure you avoid anyone who asks for a fee for counseling or a loan modification, or asks you to sign over the deed to your home, or to make your mortgage payments to anyone other than Wells Fargo.

This communication is an attempt to collect a debt and any information obtained will be used for that purpose. However, if you have received a discharge of this debt in bankruptcy or are currently in a bankruptcy case, this notice is not intended as an attempt to collect a debt, and we have a security interest in the property and will only exercise our rights as against the property.

We may report information about your account to credit bureaus. Late payments, missed payments, or other defaults on your account may be reflected in your credit report.

With respect to those loans secured by property located in the State of California, the state Rosenthal Fair Debt Collection Practices Act requires that, except under unusual circumstances, collectors may not contact you before 8 a.m. or after 9 p.m. They may not harass you by using threats of violence or arrest or by using obscene language. Collectors may not use false or misleading statements or call you at work if they know or have reason to know that you may not receive personal calls at work. For the most part, collectors may not tell another person, other than your attorney or spouse, about your debt. Collectors may contact another person to confirm your location or enforce a judgment. For more information about debt collection activities, you may contact the Federal Trade Commission at 1-877-FTC-HELP or www.ftc.gov.

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Instructions —

What you need to do to start the mortgage assistance process

Before we can look into the mortgage assistance options available to you, we need you to gather some important

information about your financial situation. Be sure to call your home preservation specialist right after you receive this package. He/she will explain all of the enclosures and what‘s needed to help you start the process. It‘s also important for you to return the documents requested by the due date by either fax or mail. And don‘t delay,

because by acting soon, more options may be available to you.

Simply follow the instructions below. We‘ve outlined the materials included in this package, details on the documentation that‘s required from you, and some hints to help you along the way.

What’s in this package

Homeowner Assistance Form

IRS Form 4506T-EZ

Cover sheet for mailing or faxing in your completed documents

Prepaid overnight return envelope

What you need to send us

Cover sheet

Place the enclosed cover sheet on top of all the documentation you return to us, whether you send it in by mail or fax. And if you choose to mail in your documentation, use the enclosed prepaid overnight envelope.

Homeowner Assistance Form

All borrowers must complete, sign and return this document, providing information about your property, income and expenses, and why it‘s difficult for you to make your current mortgage payments.

IRS Form 4506T-EZ Short Form Request for Tax Return Transcript

Each borrower who filed an individual tax return must complete, sign and return a separate 4506T-EZ form. Borrowers who filed a joint tax return may complete and return one 4506T-EZ signed by both borrowers and returned.

Documentation to verify all income of each borrower

Carefully review the ―proof of income‖ section that follows for specific details on the income documentation

you need to gather and send us.

Proof of income information

Below you will find the details on the documentation we‘ll need from you to verify all income of each borrower.

For easy reference, this information is separated into five sections:

1.Gross monthly income

2.Self-employed borrower income/business income

3.Retirement/pension/unemployment and disability income

4.Income from tenants

5.Other income

Please note:

Income must be documented as required.

Include combined income and expenses from the borrower and co-borrower (if any).

If you include income and expenses from a household member who is not a borrower, please specify using the back of this form if necessary.

Additional income documentation may or may not be required.

If you have other types of income, cannot locate required documents, or have questions about the documentation required, please call your home preservation specialist at the phone number in the enclosed letter.

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1. Gross monthly income

For wage earners/salary:

If homeowner(s) are wage earners, the following proof of income, including year-to-date information, must be provided, such as most recent paystubs:

30 days of wages

•If paid weekly — send four paystubs

•If paid biweekly — send three paystubs

•If paid semi-monthly — send two paystubs

•If paid monthly — send one paystub

If unable to provide paystubs, salary vouchers with the dates of payment must be dated within the last 30 days, including year-to-date information and the borrower‘s name and/or Social Security number.

If unable to provide paystubs and salary vouchers (e.g., you are paid in cash), please send a letter from the

employer with pay frequency and amount. This letter must be on company letterhead, signed and dated within the last 30 days and include year-to-date information, the borrower‘s name and/or Social Security

number.

The most recent tax returns along with a copy of filed IRS extension must be provided.

‗Other Earned Income‘ such as bonuses, commissions, housing allowance, tips, or overtime:

OReliable third-party documentation describing the amount and nature of the income (e.g. W2, employment contract, or printouts documenting tip income).

2.Self-employed/business income

Borrower‘s complete personal and business tax return for the most recent year with all schedules Most recent quarter, with year-to-date information profit and loss statement that reflects activity for the most recent three months; and

Copies of bank statements for the business account for the last two months evidencing continuation of business activity.

Note: If the federal tax return has not been filed and it is past the filing deadline, please send a copy of the filing extension request along with the profit and loss statement for the year not filed.

3. Retirement, pension, unemployment and disability

IRA/401k/annuity/investment income:

Most recent two months account statement and at least ONE of the following:

OBorrower‘s most recent year of tax returns (1040) including all schedules; or

OMost recent 1099 forms

Retirement or pension:

OAward letter for current year unless it states ―lifetime‖; and

OThree months‘ bank statements.

Unemployment income and short-term disability income:

OAward letter within 60 days; and

OThree months‘ recent bank statements or cancelled checks.

Social Security, disability or death benefits, pension, public assistance, or adoption assistance:

ODocumentation showing the amount and frequency of the benefits, such as letters, exhibits, disability policy or benefits statement from the provider; and

ODocumentation showing the receipt of payment, such as copies of the two most recent bank statements showing deposit amounts.

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4. Income from tenants

Rental/Boarder income:

OCopy of the most recent filed federal tax return with all schedules, include Schedule E – Supplement Income and Loss. Rental income for qualifying purposes will be 75% of the gross rent reduced by the monthly debt service on the property if applicable; or

OIf rental income is not reported on Schedule E – Supplemental Income and Loss, provide a copy of the current lease agreement with either bank statements or cancelled rent checks demonstrating receipt of rent.

If Boarder income also include:

OProof of occupancy (i.e., cell phone or utility bill, bank statements or other evidence of occupancy from boarder).

5.Other income

Alimony, child support, or separation maintenance payments as qualifying income:*

OCopy of divorce decree, separation agreement, or other written legal agreement filed with a court, or court decree that states the amount of the alimony, child support, or separation maintenance payments and the period of time over which the payments will be received; and

OCopies of your two most recent bank statements or other third-party documents showing receipt of payment.

*Notice: Alimony, child support, or separation maintenance income need not be revealed if you do not choose to have it considered for repaying this loan.

Welfare:

If welfare is listed as income, need a letter from County.

Non-borrower household income

Must be non-obligated fiancé/fiancée, spouse or domestic partner, parent or child (additional relatives may be considered in certain circumstances):

OThe income of a non-borrower who contributes to the mortgage loan payment and is included in the

monthly gross income must be documented and verified using the same standards used for verifying a borrower‘s income, including a completed and signed 4506T-EZ. Proof of occupancy (i.e., cell phone or utility bill, bank statements or other evidence of occupancy from contributor); and

OContribution letter stating contributor‘s name, relationship, frequency, and amount of contribution, signed and dated by contributor.

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Helpful hints

OIn order to help you, we need to hear from you — so be sure to call your home preservation specialist right after you receive this package. He/she will explain what‘s needed and help you start the process. It‘s also important that you send us all the required/completed forms and documents requested by the due date. Keep in mind:

•All borrowers need to sign and date all documents where required, and include your loan number on all correspondence.

•Your financial documentation should be current, within the last 30 days.

•It‘s best to submit all documents together in one package. Sending documents separately may increase the processing time. Use the cover sheet enclosed. Submit everything either by fax or by mail using the enclosed prepaid overnight envelope.

OStay in touch with us:

•After you send in your documents, call your home preservation specialist so he or she can ensure everything was received to get the review process started as soon as possible.

•Be sure to provide your home preservation specialist with your best contact number. This will help him/her get in touch with you quickly if there are additional requirements.

•During the process, additional information or documentation may be requested. Timing is important, so be sure you promptly respond to any phone calls or communications.

•If you have a change in circumstances during the process, please advise your home preservation specialist so we can review your situation appropriately.

•At any point, if you have any questions, contact your home preservation specialist.

We’re here for you

You can count on your home preservation specialist to work with you through every step of the mortgage assistance process. Along the way, if you have any questions, be sure to reach out to your home preservation specialist.

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Homeowner Assistance Form

Before you complete this form, contact us for assistance.

Mortgage Loan Number:
I/we want to:	 Keep the Property		 Sell the Property
The property is my/our:	 Primary Residence		 Second Home	 Investment Property
The property is:	 Owner Occupied		 Renter Occupied	 Vacant
Borrower		Co-borrower
Borrower’s name		Co-borrower’s name

Social Security number	Date of birth	Social Security number		Date of birth

Home phone number		Home phone number

Cell phone number		Cell phone number

Work phone number		Work phone number

Email address		Email address

Mailing address		Mailing address (if different than borrower’s)

Property information

Property address (if same as mailing address, write “same”)

Number of people who live in the home

Is the property listed for sale?

Have you received an offer on the property? Agent’s Name:

For Sale by owner?

Who pays the real estate tax bill on your property?

Are the taxes current?

Condominium or HOA monthly fee?

Who pays the homeowners insurance policy for your property?

Is the policy current?

Name of insurance company________________________

Yes

I/we do

Yes

I/we do

Yes

If yes, what was property listing date? __________________

Date of offer _____________ Amount of offer $ ____________

Agent’s Phone Number:

No

Servicer does

No

$ ________ Paid to (Name & Address) ___________________

 Servicer does  Paid by condominium or homeowner

association

No

Insurance company phone number _____________________

No

If there are additional liens/mortgages or judgments on this property, name the person(s), company or firm and phone number(s).

Lien holder’s name/servicer _______________________ Phone number __________________ Loan number ____________ Balance $ ___________

Borrower/co-borrower situation

Have you contacted a credit-counseling agency for help?

If yes, complete counselor contact information below.

Counselor’s name ________________________________

Counselor’s email _______________________________

Have you filed for bankruptcy?
If yes:	 Chapter 7	 Chapter 11

Has your bankruptcy been discharged?

 Yes	 No
Counselor’s phone number ______________________________
 Yes	 No
 Chapter 12  Chapter 13		Filing date __________________________________
 Yes	 No	Bankruptcy case number ____________________

Please note that if you have or will receive a discharge from a chapter 7 bankruptcy case, and the mortgage was not reaffirmed in the bankruptcy case, we will only exercise our rights against the property and are not attempting any act to collect the discharged debt from you personally. Additionally, your decision to discuss workout options with us is strictly voluntary. You are not obligated to pursue any workout options discussed with us. At your request, we will immediately terminate any such discussions should you no longer wish to pursue these options.

Hardship Affidavit (Provide a written explanation with this request describing the specific nature of your hardship.)

I/We am/are requesting review of my/our financial situations to determine whether I/we qualify for temporary or permanent mortgage relief options.

Date hardship began is: ____________________

I believe that my/our situation is:

Short-term (under 6 months)

Medium-term (6 – 12 months)

Long-term or Permanent Hardship (greater than 12 months)

I/we am/are having difficulty making my/our monthly payment because of reasons set forth below:

(Please check all that apply and submit required documentation demonstrating your hardship.)

If your hardship is:	Then the required hardship documentation is:

 Unemployment	 No hardship documentation required

 Underemployment	 No hardship documentation required, as long as you have submitted income documentation that
	supports the income described in the required income documentation section.
 Income reductions (e.g., elimination	 No hardship document required, as long as you have submitted income documentation that
of overtime, reduction in regular	supports the income described in the required income documentation section.
working hours, or a reduction in
base pay)
 Divorce or legal separation;	 Divorce decree signed by the court; OR
Separation of Borrowers unrelated	 Separation agreement signed by the court; OR
by marriage, civil union or similar	 Current credit report evidencing divorce, separation, or non-occupancy borrower has a different
domestic partnership under	address; OR
applicable law	address; OR
applicable law	 Recorded quitclaim deed evidencing that the non-occupying Borrower or C-borrower has

	relinquished all rights to the property
 Death of borrower or death of either	 Death Certificate; OR
the primary or secondary wage	 Obituary or newspaper article reporting the death
earner in the household
 Long-term or permanent disability;	 Doctor’s certificate of illness or disability; OR
Serious illness of a borrower/co-	 Medical bills; OR
borrower or depend family	 Proof of monthly insurance benefits or government assistance (if applicable)
member
member
 Disaster (natural or man-made)	 Insurance Claim; OR
adversely impacting the property	 Federal Emergency management Agency grant or Small Business Administration loan; OR
or Borrower’s place of employment	 Borrower or Employer property located in a federally declared disaster area
 Distant employment transfer	 No hardship documentation required

 Business failure	 Tax return from the previous year (including all schedules AND
	 Proof of business failure supported by one of the following:
	O	Bankruptcy filing for the business; or
	O	Two months recent bank statements for the business account evidencing cessation of
		business activity; or
	O	Most recent signed and dated quarterly or year-to-date profit and loss statement

Income/expense for household

Important note: All income must be documented.

Include combined income and expenses from the borrower and co-borrower (if any). If you will be including income and expenses from a household member who is not a borrower, please specify this information on the back of this form. Also, include the non-borrower(s) start date(s) for employment information. You are not required to disclosure child support, alimony or separation maintenance income unless you choose to have it considered by your servicer.

1		2		3
Monthly Household Income		Monthly Household Expenses/Debt		Household Assets
Borrower monthly gross	$	First mortgage payment	$	Checking account(s)		$
wages
Borrower overtime	$	Second mortgage	$	Savings/money market		$
		payment		account(s)
Borrower start date of	$	Homeowners insurance1	$			$
employment
(MMDDYYYY)
Borrower other	$	Property Taxes2	$	Certificate(s) of deposit		$
employment start date				(CDs)
(MMDDYYYY)
Co-borrower monthly		Credit cards /	$			$
gross wages		installment loan(s) (total
		minimum payment per
		month)
Co-borrower overtime		Alimony/separation	$			$
		maintenance/child
		support payments
Co-borrower start date		Net rental expenses/	$	Stocks/bond(s)		$
of employment		property maintenance
(MMDDYYYY)		expenses
Co-borrower other		Homeowners	$			$
employment start date		association/
(MMDDYYYY)		condominium fees
Child support/	$	Child care expenses	$	Other cash on hand		$
alimony/separation
maintenance
Non-taxable Social	$	Car payments, including	$	Other real estate		$
Security/Social Security		car lease payments		(estimated value)
Disability Insurance
Taxable Social Security	$	Car insurance/gas/	$	Other		$
benefits		maintenance

Other monthly income	$	Health insurance/	$
from pensions, annuities		medical expenses
or retirement plans

Tips, commissions and	$	Life insurance premiums	$
bonus income		(not withheld from pay)
Self-employment	$	Groceries	$
income
Unemployment Income	$	Water/sewer/utilities	$

Start date of		Internet/cable/satellite/	$
unemployment		cell phone/home phone
(MMDDYYYY)
Rents received	$	Personal loans/tuition	$

Boarder income	$	Tithes/religious	$
		contributions		Do not include retirement plans when
Food stamps/Welfare	$	Other	$	Do not include retirement plans when
Food stamps/Welfare	$	Other	$	calculating assets (401k, pension funds,

Other (investment	$
Other (investment	$			annuities, IRAs, Keough plans, etc.)
income, royalties,				annuities, IRAs, Keough plans, etc.)
income, royalties,
interest, dividends, etc.)
Total (gross income)	$	Total assets	$	Total assets	$

1.Only include your homeowners insurance payment if you pay this amount yourself.

2.Only include your property tax payments if you pay them yourself.

Acknowledgment and Agreement

I/We understand that I/we will be considered for all mortgage assistance options available to us, including federal government programs as appropriate. I/We certify as follows:

1.That all of the information in this affidavit is true and accurate and the event(s) identified on page two is/are the reason that I/we need to request a modification of the terms of my/our mortgage, short sale or deed in lieu of foreclosure.

2.I/We understand that the servicer, the U.S. Department of the Treasury, or its agents may investigate the accuracy of my/our statements, may require me/us to provide supporting documentation, and that knowingly submitting false information may violate federal law and may result in foreclosure.

3.I/We understand the servicer may pull a current credit report on all borrowers obligated on the Note.

4.I/We understand that if I/we have intentionally defaulted on my/our existing mortgage, engaged in fraud or misrepresented any fact(s) in connection with this document, the servicer may cancel any Agreement and may pursue foreclosure on my/our home and/or pursue any available legal remedies.

5.I/We understand, to be considered for certain federal government programs my/our property must be owner-occupied. If I/we have not indicated otherwise on this form, I/we certify that: my/our property is owner-occupied and I/we intend to reside in this property for the next twelve months and I/we have not received a condemnation notice and there has been no change in the ownership of the property since I/we signed the documents for the mortgage that I/we want to modify.

6.I/We am/are willing to provide all requested documents and to respond to all servicer questions in a timely manner.

7.I/We understand that the servicer will use the information in this document to evaluate my/our eligibility for a loan modification or short sale or deed in lieu of foreclosure, but the servicer is not obligated to offer me/us assistance based solely on the statements in this document.

8.I/We am/are willing to commit to credit counseling if it is determined that my/our financial hardship is related to excessive debt.

9.If I/we am/are eligible for a trial period plan, repayment plan, or forbearance plan, and I/we accept and agree to all terms of such plan, I/we

also agree that the terms of this Acknowledgment and Agreement are incorporated into such plan by reference as if set forth in such plan in full. My/Our first timely payment following my/our Servicer’s determination and notification of my/our eligibility or prequalification for a trial period plan, repayment plan, or forbearance plan (when applicable) will serve as acceptance of the terms set forth in the notice sent to me that sets forth the terms and conditions of the trial period plan, repayment plan, or forbearance plan.

10.I/We agree that when the Servicer accepts and posts a payment during the term of any repayment plan, trial period plan, or forbearance plan it will be without prejudice to, and will not be deemed a waiver of, the acceleration of my/our loan or foreclosure action and related activities and shall not constitute a cure of my/our default under my/our loan unless such payments are sufficient to completely cure my/our entire default under my/our loan.

11.I/We agree that any prior waiver as to my/our payment of escrow items to the Servicer in connection with my/our loan has been revoked.

12.If I/we qualify for and enter into a repayment plan, forbearance plan, and trial period plan, I/we agree to the establishment of an escrow account if an escrow account never existed on my/our loan as required.

13.I/We understand that the servicer will collect and record personal information, including, but not limited to, my/our name(s), address, telephone number, Social Security number(s), credit score, income, payment history, government monitoring information, and information about account balances and activity. I/We understand and consent to the disclosure of my/our personal information to (a) the U.S. Department of the Treasury or its agents; (b) any investor, insurer, guarantor or servicer that owns, insures, guarantees or services my/our first lien or subordinate lien (if applicable) mortgage loan(s); (c) companies and/or individuals that perform support services in conjunction with home preservation mortgage assistance efforts; (d) auditors, including but not limited to independent auditors, regulators and agencies; and (e) any HUD-certified housing counselor.

14.I/We consent to being contacted concerning this request for mortgage assistance at any cellular or mobile telephone number I/we have provided to the Servicer. This includes text messages and telephone calls to my/our cellular or mobile telephone.

______________________________	_____________	______________________________	_____________
Borrower Signature	Date	Co-borrower Signature	Date

Contacts – if you have questions

If you have questions about this document or your available options, please contact your home preservation specialist.

If you have questions about your options that your servicer cannot answer or if you need further counseling, call the Homeowner’s HOPE™ Hotline at 1-888-995-HOPE (4673). A Hotline counselor will help you by answering questions about your available options and providing you with free HUD-certified counseling services in English and Spanish.

Get Wells Fargo Mortgage Hardship PDF Form

Form Characteristics

Fact Name	Description
Contact Information	The Wells Fargo Mortgage Hardship form includes vital contact information, such as a fax number (866-897-3415) and a telephone number (800-275-9254) for assistance.
Response Timeframe	Borrowers are encouraged to act quickly and return documents within 30 days to ensure more options are available to avoid foreclosure.
Documentation Requirements	Borrowers must complete and return the Homeowner Assistance Form and IRS Form 4506T-EZ, along with documentation to verify income and expenses.
State-Specific Governing Law	In California, the Rosenthal Fair Debt Collection Practices Act offers protections regarding the timing and nature of debt collection communications.

Guidelines on Utilizing Wells Fargo Mortgage Hardship

Filling out the Wells Fargo Mortgage Hardship form requires careful attention to detail and timely submission of documentation. This process can feel daunting, but you're not alone. A specialist will guide you through each step once you reach out. Ensure you understand what is required and act quickly to keep your options open.

Gather the necessary documents: Collect all financial information outlined in the instructions.
Complete the Homeowner Assistance Form: Fill in details regarding your property, income, expenses, and the reasons for your hardship.
Fill out IRS Form 4506T-EZ: One for each borrower who filed individual tax returns or one signed by both for joint returns.
Document your income: Include proof of income for you and any co-borrowers, as detailed in the "proof of income" section.
Attach a cover sheet: Place the provided cover sheet on top of all documents you are sending.
Choose your submission method: Send the completed forms and documents either by fax (to 866-897-3415) or by mail using the prepaid envelope provided.
Contact your home preservation specialist: Call immediately after submitting your documents to discuss the next steps.
Keep track of deadlines: Ensure all required documents are returned within 30 days of the letter's date to maintain eligibility for assistance.

Once you have submitted the required documentation, anticipate follow-up communication from your home preservation specialist. They will keep you informed as your application progresses and assist you in exploring available options for mortgage assistance.

What You Should Know About This Form

What is the Wells Fargo Mortgage Hardship form?

The Wells Fargo Mortgage Hardship form is a document that borrowers use to request mortgage assistance due to financial difficulties. By completing this form and providing required documentation, borrowers can explain their situation and explore options that may help prevent foreclosure. It includes sections for personal information, property details, and the reasons for the hardship.

How do I get started with the mortgage assistance process?

As soon as you receive the assistance package, contact your home preservation specialist. They will guide you through the materials included, such as the Homeowner Assistance Form and IRS Form 4506T-EZ. It's crucial to complete and return the necessary documents within 30 days to ensure you are considered for assistance. The quicker you act, the more options may be available to you.

What documentation do I need to provide when completing the form?

You will need to gather several documents to support your request. These include your Homeowner Assistance Form, IRS Form 4506T-EZ, and proof of income for all borrowers. Depending on your situation, this may involve pay stubs, tax returns, bank statements, and documentation of other income like rental or alimony. Organizing these documents promptly will help keep the process moving smoothly.

What should I do if I’m struggling with additional expenses beyond my mortgage?

If you're facing difficulties managing other bills in addition to your mortgage, consider reaching out to a HUD-approved, non-profit credit counseling agency. These organizations can help you develop a budget and manage your expenses at no cost. You can find a counseling agency by calling 1-800-569-4287 or the HOPE Hotline at 1-888-995-HOPE.

Common mistakes

Filling out the Wells Fargo Mortgage Hardship form can be a daunting process, and many borrowers make mistakes that can delay or hinder their applications for assistance. One common mistake is not providing complete contact information. Borrowers sometimes overlook this detail, which can lead to significant delays in communication. Ensure that all information, including your address, phone numbers, and email addresses, is accurate and up to date. This will help your home preservation specialist reach out promptly to assist you.

Another frequent pitfall is failing to fully explain the hardship. Many borrowers simply check boxes and move on without detailing their specific circumstances. It is vital to take the time to clearly articulate the reasons for your financial difficulties. Providing a comprehensive explanation can foster a deeper understanding of your situation, enhancing your chances of receiving the assistance you need.

Not submitting required documentation is a third common error. The form requests specific financial documents, including proof of income and tax returns. Skipping this step can directly impact your eligibility for mortgage assistance. Gather all necessary documents prior to submission. Use the checklists often provided within the forms to ensure you’re sending everything needed.

Timing is crucial when dealing with financial assistance forms. Many borrowers wait too long to return the completed paperwork. Delivering your documents promptly, ideally within the 30 days advised in the correspondence, is essential. Delays could mean fewer options for assistance or, in worst-case scenarios, foreclosure proceedings could start. The sooner you act, the better your situation may be.

Finally, another misstep occurs when borrowers assume that only one person needs to fill out the form. If there are multiple borrowers on the mortgage, each must sign and provide relevant information. Both parties should be involved in the process and ensure everything is completed accurately. Collaborating can also lead to more comprehensive information being submitted, which may aid in your request for assistance.

Documents used along the form

Navigating the mortgage assistance process can feel overwhelming, especially during tough financial times. Alongside the Wells Fargo Mortgage Hardship form, several other forms and documents are often required to streamline your request for assistance. Below is a helpful list of these documents, providing a brief description of each to guide you through the process.

Homeowner Assistance Form: All borrowers must complete this form, sharing details about their property, income, expenses, and the reasons for their financial hardships.
IRS Form 4506T-EZ: This short form allows the lender to request a tax return transcript. Each borrower who filed an individual tax return must complete a separate form, while joint filers can use one signed by both parties.
Proof of Income Documents: These documents verify the income of each borrower. Specific documentation is required based on the type of income, including pay stubs, tax returns, and other related financial documentation.
Prepaid Overnight Return Envelope: This envelope is included for your convenience, enabling you to send required documents securely and promptly without incurring extra costs.
Cover Sheet: Place this cover sheet atop all documents you return. Whether by mail or fax, it helps ensure that your paperwork is organized and properly directed.
Additional Income Documentation: If applicable, additional proof may be required for any secondary income sources, such as rental income, alimony, or investment earnings.
Bank Statements: Recent bank statements serve as crucial evidence of your financial activities and may be requested to supplement income verification.
Lease Agreements: If claiming rental income, a current lease agreement may be necessary. This document can help validate the existence and amount of rental income.
Contribution Letters: For non-borrower income, documents that detail contributions from other household members, including their relationship and payment amounts, can be important for demonstrating financial support.

Completing all the necessary forms and providing the required documentation is essential for your mortgage assistance request. By gathering these documents ahead of time, you can help facilitate a smoother process and maximize your options for support during this challenging period.

Similar forms

When seeking mortgage assistance, the Wells Fargo Mortgage Hardship form shares similarities with several key documents used in financial assistance and borrowing contexts. Here’s a breakdown of documents that bear resemblance:

Loan Modification Application: Similar to the hardship form, this application requires borrowers to disclose their financial situation and reasons for needing assistance. It also necessitates supporting documentation of income and expenses.
Bankruptcy Petition: Much like the hardship form, a bankruptcy petition involves disclosing detailed financial information. It details assets, liabilities, income, and expenses, aiming to explore debt relief options.
Forbearance Agreement: A forbearance agreement pauses mortgage payments for a certain timeframe while establishing the borrower's financial difficulties. It mirrors the hardship form by requiring evidence of financial struggles.
Income Verification Form: This document requests proof of income to ensure eligibility for assistance programs. It parallels the Wells Fargo form in gathering the financial details necessary for mortgage assistance.
Hardship Letter: A hardship letter articulates a borrower's financial challenges and requests leniency. Like the hardship form, it conveys the necessity for assistance backed by factual financial documentation.
Budget Worksheet: A budget worksheet helps borrowers organize their income and expenses. It aligns with the hardship form’s goal of illustrating financial hardship by requiring similar information.
Debt Management Plan: This plan outlines how borrowers can manage their debts, often requiring detailed financial breakdowns. Its focus on income and expense documentation echoes the requirements set forth in the hardship form.
Loan Application Form: The standard loan application asks about income, assets, and liabilities. It shares structural and informational similarities with the Wells Fargo hardship form, especially regarding financial disclosure.

Dos and Don'ts

Things You Should Do:

Contact your home preservation specialist immediately after receiving the package for guidance.
Return all requested documents within 30 days to keep the process moving swiftly.
Use the enclosed cover sheet when you send documentation to ensure it is processed correctly.
Provide detailed and accurate information regarding your financial situation, including all income sources.

Things You Shouldn't Do:

Do not delay sending in your documentation, as it may jeopardize your eligibility for assistance.
Avoid submitting incomplete or incorrect forms, which could result in processing delays.
Refrain from making mortgage payments to anyone other than Wells Fargo, as this could lead to scams.
Don't ignore communications from Wells Fargo; timely responses are crucial for your assistance process.

Misconceptions

Here are some common misconceptions about the Wells Fargo Mortgage Hardship form:

All borrowers will automatically qualify for assistance. Many people believe that simply filling out the form guarantees support. However, each case is reviewed on an individual basis, and eligibility depends on numerous factors.
The form can be submitted without required documentation. Some think that they can send the form on its own and wait for a response. In reality, submitting the necessary documents is crucial to evaluate your situation and assist effectively.
Once submitted, no further action is needed. Many borrowers assume that their work ends after submitting the form. In fact, it's important to stay in touch with your home preservation specialist and respond promptly to any requests.
Help is only available if you are already in foreclosure. Many believe mortgage assistance is only an option after foreclosure proceedings have started. Assistance can be sought as soon as you're facing financial difficulties, preventing foreclosure before it happens.

Key takeaways

Filling out and using the Wells Fargo Mortgage Hardship form effectively can significantly impact your ability to obtain mortgage assistance. Here are key takeaways to consider:

Act Quickly: Respond to the request for information promptly. You must return the necessary documents within 30 days. Delaying your response can reduce your options and risk your eligibility for assistance.
Follow Instructions Carefully: Each document request has specific requirements. Ensure you provide all the needed paperwork, including the Homeowner Assistance Form and IRS Form 4506T-EZ.
Be Thorough with Documentation: Assemble complete income verification to support your request. This includes pay stubs, tax returns, and proof of any other income sources. Failing to provide proper documentation can hinder your application.
Beware of Scams: Be cautious of anyone who asks for fees or suggests making mortgage payments to someone other than Wells Fargo. Legitimate assistance does not come with a price tag.

Understanding these points helps ensure you're prepared to navigate the mortgage assistance process effectively. You’re not alone; support is there for you every step of the way.

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