Wells Fargo loan advisers helped about 60 people Saturday at a free
homeownership preservation clinic in the Bayanihan Center of Seafood City.
"It was a good experience. The people, they're helpful," said a
Benicia homeowner who declined to be named.
Wells Fargo consultants were able to pre-qualify her for an affordable home
loan modification, dropping her monthly mortgage payments by $1,000.
"My husband is disabled, and they slashed my income in half in
February," the woman said.
This clinic followed one held in August for those with Chase, Washington
Mutual and EMC Mortgage loans.
"It's double the amount (of people helped) than last time," said
Francis Neri, a local Realtor and an event organizer.
Neri and the other organizers recently formed the nonprofit Advocates for
Neighbors to address issues such as people with troubled mortgages.
Neri hopes to have another preservation clinic in December, perhaps with
lending institutions like Bank of America or Citi Bank.
“There’s so much inventory out there that the buyer can pick and choose,” said Susan Sirles Fidler, a Realtor at Re/Max 10, Oak Lawn. But she cautioned, “The stuff that’s almost free is almost free because it’s going to cost you an arm and a leg to put it back together. It’s not buyer beware as much as buyer be smart.”
