Wells Fargo Bank Holding Workshop to Help Troubled Homeowners - 8 News NOW

Wells Fargo Bank Holding Workshop to Help Troubled Homeowners

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LAS VEGAS -- One in every 97 homes in Clark County receives a foreclosure notice. It's a desperate time for homeowners who want to get help from their banks and save their homes. Wells Fargo is holding a home preservation workshop this week.

Some of the larger banks have come under fire for not being responsive enough to their struggling customers.

"Foreclosure is a terrible thing you never want to see it and trust me every solution is exhausted before we get to that point," said Alex Garza, Wells Fargo Home Mortgage.

One struggling homeowner was able to get the help he needed.

"My mortgage was about $1,500 and they brought it down to $1,000 so they knocked off $500," said Armando Miramontes who was the verge of losing his family home after his dad got laid off and Miramontes was having trouble paying the mortgage all by himself.

Miramontes attended a Wells Fargo home preservation workshop where bank representatives laid out the options he had to save his home.

Solutions can range from home loan modifications to a special mortgage repayment plan. The bank says each case is different and the key is to ask for help before it's too late.

"About 80 percent of people that actually contact us get some sort of assistance as opposed if they try to do it on their own," said Garza. He claims only about 40 percent have success when they don't ask for the bank's help.

The workshop may not be for everyone, but for Miramontes, it was the right decision.

"Whatever money I had left from not spending on mortgage I just went ahead and paid off everything I owed and everything's been better, " he said.

The workshop is free of charge and it's being held at the Tropicana Conference Center at 3801 Las Vegas Blvd. South, on Wednesday and Thursday. The event is aimed at Wells Fargo customers and they will meet one-on-one with bank representatives. The event takes place both days from 9 a.m. to 7 p.m.

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