How Do I Skip a Mortgage Payment With Wells Fargo? Reddit

Mortgage Payment With Wells Fargo?

Navigating your mortgage can feel like steering a ship through uncharted waters, especially when unexpected financial turbulence arises.

Skipping a mortgage payment might seem like an appealing stopgap, but with Wells Fargo, the answer isn't as straightforward as a simple yes or no.

Understanding Wells Fargo Loan Mortgage:

Wells Fargo, like most lenders, doesn't offer traditional "skip-a-payment" programs. Missing a payment without prior communication can have serious consequences, including late fees, damage to your credit score, and potentially even foreclosure.Wells Fargo Mortgage

However, that doesn't mean you're without options.

Wells Fargo Mortgage Release Department Functions:



Forbearance Plans

Work with borrowers facing temporary hardship to adjust or suspend mortgage payments. 

Loss Mitigation Efforts

Help borrowers avoid foreclosure by exploring options like loan modifications or short sales. 

Property Disposition

Manage the sale of properties after foreclosure. 

Customer Support

Answer questions and provide guidance to borrowers navigating loan challenges. 

Does Wells Fargo let You Defer a Payment?

While skipping a payment isn't an option, deferring one might be. When faced with short-term financial hardship, like job loss or medical bills, Wells Fargo offers forbearance plans. 

These plans allow you to temporarily suspend or reduce your monthly payments for a set period, providing much-needed breathing room while getting back on track. 

Can You Arrange to Skip a Mortgage Payment?

The key to exploring your options lies in communication. Instead of simply "skipping" a payment, contact Wells Fargo's Mortgage Assistance Team directly.

Explain your situation clearly and honestly. They'll work with you to assess your eligibility for forbearance or other hardship programs.

Can You Skip a Payment on Your Mortgage?

Forbearance plans come in various flavors, tailored to your specific circumstances. Some plans may temporarily suspend your payments altogether, while others might lower your monthly amount for a set period.  

Each comes with its own terms and conditions, which the Mortgage Assistance Team will explain in detail. Reddit Page

Can I defer my mortgage payments?

Remember, deferral isn't the only solution. Depending on your situation, exploring other options like dipping into savings, seeking financial assistance from family or friends, or even temporarily downsizing your living arrangements might be viable alternatives. 

Frequently Asked Questions:

Will my credit score be affected if I defer a payment?

Deferral may initially show as a "late payment" on your credit report, but Wells Fargo typically removes this negative mark once you complete the forbearance plan successfully.

What happens if I miss a payment without deferring?

Missed payments can accrue late fees and negatively impact your credit score. In severe cases, it can even lead to foreclosure.

What documents do I need to apply for forbearance?

Be prepared to provide documentation of your financial hardship, such as recent pay stubs, bank statements, or documentation of unexpected expenses.


While skipping a Wells Fargo mortgage payment isn't directly possible, open communication and proactive outreach can open doors to alternative solutions.

Remember, the Mortgage Assistance Team is there to help you navigate these challenges and find a path forward.

By acting early and exploring all available options, you can weather any financial storm and keep your home safe.

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