Refinancing Home Loan During Divorce With Wells Fargo Bank

I wanted to share a great opportunity for those folks who have a Wells Fargo Bank Loan and who may be going through a divorce.

This does not only apply to those going through a divorce, but this information will help folks who find themselves going through divorce and needing to refinance.

I have many clients going through divorce who need to do something with their home.  Either sell it, rent it or have one of the parties taken off the loan so the other spouse can keep the home.

The problem is that one of the spouses may not qualify on their own or they may be unable to refinance because the home is worth less than they owe on the loan or perhaps they don’t have good enough credit.

The good news is that if you have a Wells Fargo Loan they will refinance your home even if you have bad credit, are underwater on your loan or have no income.

Here are some of the highlights:

  • Must be Wells Fargo Loan
  • No Income Verification
  • Upside down on mortgage okay
  • Appraisal value not taken into consideration
  • Only one original mortgage holder required to remain on loan

Needless to say, this is a great opportunity for everyone.  Hard to believe that there is no income verification and that they will refinance to today’s rate regardless of the loan to value.

For those who faced the problem described above where you need to remove one of the parties from the loan, this takes care of two issues.  First, you can refinance and get a great rate.  Second, you can remove your spouse from the loan and refinance in your name alone.

I was glad to learn of this program from Wells Fargo.  I will be making sure to ask all my clients if they have a Wells Fargo loan when handing their divorce from now on.

If you would like more information about this Wells Fargo program and are going through divorce feel free to give me a call.

We are a licensed divorce service in Santa Clarita, CA and serve all the Courts in California.