Many homeowners have managed to work out their mortgage problems with a Wells Fargo Loan Modification and save their homes. The Making Home Affordable Program has made the process more accessible than ever. However, the Obama Administration has stressed that not every mortgage can be modified, and not every homeowner will be able to stay in his or her home. What happens when your modification does not work out?

There are varied reasons why you might not be able to work out your loan modification with Wells Fargo. Even though you met the original eligibility requirements to apply, whether or not you qualify is up to them and the way they interpret your data.

You may have been approved, yet encountered problems that did not permit you to make the payments during your trial period, which is usually three months. Wells Fargo has certain guidelines that they must follow as a participating lender in the government program.

For whatever reason, if your loan modification does not work out, they must evaluate your eligibility for a program called Home Affordable Mortgage Alternatives (HAFA.) This program can help you arrange to get out of the home without any future obligation or indebtedness. A short sale or deed-in-lieu of foreclosure can often be arranged.

It is disappointing when a Wells Fargo Mortgage Modification does not work out for you, and it is difficult to leave your home. However, this program can help you avoid the damaging stigma of foreclosure and the remaining financial obligation you could encounter under normal circumstances.