Our customers who make their mortgage payments online to Wachovia (now part of the Wells Fargo family of owned companies) from time to time find that their account will generally make have some changes made to their file in Wachovia’s online payment system when applying for different types of mortgage workouts. It is not that the bank wants to make things more difficult but merely because there will be changes made to the payment they remove access to certain parts of their online loan payment system while the loan is in a Loan Modification review. This is especially true for when the homeowner going through the Making Homes Affordable Program as they are given a trial modification payment that is usually different than the payment they already had as that is the reason that they are finding it is probably better to lock the homeowner out than allow them to make the incorrect payment.
At this time they homeowners are still able to call in and make their minimum payment but other automated methods seem to have been removed.
Below is an image of what the system looks like normally for the account over view for someone with a Pay Option ARM (Most online payment systems for Wachovia look similar to this:
This is the screen that allows someone to make a payment usually found online with the Wachovia’s speed pay system for Payment Option ARMs (this looks very similar to ARM and Fixed rate loans but they do not have as many options):
As you may note in this next image it clearly shows how the payment options have been blocked out with their request for a phone call in to their customer service line:
The account activity screen also has some minor changes like redacting everything:
Though many times this causes concerns the homeowner still having the ability to get on the phone and make their payments is huge and adds comfort level to know that you are still making the payment. It is always important that no matter what workout your doing (at least for the sake of your credit) to keep on making the payments. It is your payment history that future lenders will judge you by.
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