About Wachovia

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Wachovia was a diversified financial services company based in Charlotte, North Carolina. Before its acquisition by Wells Fargo and Company in 2008, Wachovia was the fourth-largest bank holding company in the United States, based on total assets. Wachovia provided a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. At its height, it was one of the largest providers of financial services in the United States, operating financial centers in 21 states and Washington, D.C., with locations from Connecticut to Florida and west to California. Wachovia provided global services through more than 40 offices around the world.  The acquisition of Wachovia by Wells Fargo was completed on December 31, 2008, after a government-forced sale to avoid Wachovia's failure. The Wachovia brand was absorbed into the Wells Fargo brand in a process that lasted three years: on October 15, 2011, the last Wachovia branches in North Carolina were converted to Wells Fargo.

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Foreclosure Prevention Options

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Wachovia (now Wells Fargo) offers a variety of assistance programs to homeowners who are struggling with their monthly mortgage payments. They always stress that the earlier a customer notifies them of a problem, that the more options Wachovia (now Wells Fargo) will have available to help the homeowner. They can lower interest rates, reduce payments, stop a foreclosure, and more.  Keep Your Keys can assist with any of the available options, but the quicker we act,  the more programs we will have available.  It can’t be stressed enough that timing is critical for borrowers who are experiencing financial difficulty and who may be faced with foreclosure.

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Forbearance

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A forbearance plan temporarily suspends or reduces the amount of your regular monthly mortgage payment if a life event is expected to decrease your cash-on-hand in the near future. Most often, it is used in times of temporary hardship, like unemployment

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Repayment

 

If you fell behind on payments due to a temporary hardship, but are now in a better position financially, talk to us about a repayment plan. It may give you a manageable way to catch up.  How does it help?  Missed payments are divided into manageable amounts and spread out over time.

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Loan Modification

 

If you can't afford your current mortgage due to a financial hardship, and you want to stay in your home, we may be able to change certain terms of the loan — such as the interest rate or the time allowed for repayment — to make your payments more affordable. Any change to the original terms is called a loan modification.  There are multiple loan modification programs available. These programs offer different options for borrowers in different situations, but all are meant to help people keep their homes when facing a significant hardship. We'll work with you to determine whether a loan modification or another option may work for you.

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Short Sale

 

If you can’t afford your current mortgage, and staying in your home isn’t an option, a short sale might help you avoid foreclosure even if the foreclosure process has begun. The foreclosure date may be postponed if a signed purchase offer is received by Wachovia. It allows you to sell your home for less than you owe on the mortgage, and may release you from having to repay the remaining mortgage balance.

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Deed in Lieu

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With a deed in lieu of foreclosure, you transfer ownership of your home to Wachovia voluntarily, instead of through foreclosure.

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Keep Your Keys

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Keep Your Keys is highly experienced in helping homeowners stop foreclosure.    We have a thorough understanding of the products Wachovia (now Wells Fargo) offers as well as their internal processes to get them approved and completed.   With our 5 star reviews and exceptional customer service you would be hard pressed to find a better partner.   Leave your checkbook at home and contact us today for a no cost, no obligation, appointment to get started. 

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