Wells Fargo helps people in jeopardy of losing their homes - WMC Action News 5 - Memphis, Tennessee

Wells Fargo helps people in jeopardy of losing their homes

Annie Sykes is retired, on a fixed income, and concerned about losing her home. Annie Sykes is retired, on a fixed income, and concerned about losing her home.

(WMC-TV) - Home foreclosures remain a problem in Memphis and the Mid-South. More homeowners have a mortgage through Wells Fargo than any other lender in the area. Thursday, the company set up shop at the Cook Convention Center to help people in jeopardy of losing their homes.

"I kinda got behind on my house note," said Annie Sykes, who showed up to the event to get help. "I'm about three months behind."

Sykes is retired, on a fixed income, and concerned about losing her home.

"Quite a few people that's struggling trying to get their bills paid, get them down or whatever, you know," she said.

Sykes and others at risk of foreclosure showed up to the workshop organized for people on the brink of foreclosure.

"We want to knock out the problem in Memphis," said Hugh Rowdan, Wells Fargo. "Foreclosure is still a lingering problem."

Wells Fargo held the same workshop three years ago, helping more than 5,500 Memphians keep their homes.

"Help could be a modification, a permanent modification. It could be a temporary modification and it really depends on their actual situation. It could potentially be a principal reduction," said Rowdan.

It turned out that Sykes is going to get the help she needs to stay in her home.

"He reassured me that they could help me out," she said.

"Foreclosure is not good for the customer. It is not good for the community. And it is not good for the lender," said Rowdan.

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