What happens if I miss a mortgage payment?

If you miss your mortgage payment, it is important to take immediate action. Wells Fargo understands that financial difficulties can occur, and they are committed to helping you find a solution. Typically, the first missed payment results in a late fee, which may vary based on your loan agreement. Continually missing payments can lead to more severe consequences, such as a negative impact on your credit score and potential foreclosure proceedings. It is advised to contact Wells Fargo as soon as possible if you are experiencing financial challenges. Their dedicated team of professionals can work with you to explore options like loan modification, forbearance, or repayment plans to help you get back on track and keep your home.