Wells Fargo holding Phoenix loan modification workship

Wells Fargo is offering a sit-down with a loan modification specialist to its Arizona customers struggling to afford their mortgage payments. The lender's “Home Preservation” workshop at the Phoenix Convention Center is open to borrowers today and Thursday.

Wells Fargo has brought in hundreds of employees to work with Arizona borrowers. On Tuesday, 1,000 homeowners with Wells Fargo mortgages had already signed up for appointments.

“We contacted many of our Phoenix-area borrowers to set up appointments before the event, but walk-ins are also welcome,” said Joe Ohayon, senior vice president of Wells Fargo Home Mortgage.

The three-day event is the first major foreclosure workshop Wells Fargo has held on its own anywhere in the country. It, like other big lenders, has participated in HOPE NOW Alliance foreclosure prevention workshops, including one held at Phoenix's South Mountain High School on July 31st.

Some Valley borrowers and housing advocates have been disappointed in past foreclosure workshops because they were disorganized and not as successful as planned.

After Wells Fargo borrowers check in and their paperwork is processed at the Phoenix workshop, they are scheduled one-hour appointments with a loan-modification servicer. There's water and popcorn available in the waiting area, and a spot where children can watch movies.

“Several borrowers will walk away from this event with loan modifications. Other borrowers will start the process, and at least find out what it will take and how long,” said Ohayon.

“Arizona has been hard hit by a lot of economic factors that are driving foreclosures.” Ohayon, who is based in Washington D.C., was also in Phoenix last week to testify at the bankruptcy hearing of Bobbi Giguere. She didn't receive a loan modification from Wells Fargo and filed for bankruptcy to try to keep her Phoenix home.

Plans for the Phoenix home preservation workshop were underway before the trial. The event runs from 10 a.m. to 7 p.m.

did anyone go to this? did it help? Wells Fargo is my lender and so far, I haven't found it too helpful.