What options are available for mortgage repayment with Wachovia?

Wachovia Mortgage offers several options for mortgage repayment designed to accommodate a variety of borrower needs and preferences. One of the most common methods is a traditional monthly mortgage payment, where borrowers can choose either a fixed-rate mortgage or an adjustable-rate mortgage. Fixed-rate mortgages provide a consistent interest rate for the entire loan term, making monthly payments predictable. On the other hand, adjustable-rate mortgages often start with lower initial rates that can fluctuate after a set period based on market conditions. Another payment option includes biweekly mortgage payments, where borrowers make half of their monthly payment every two weeks. This can help reduce the total interest paid over the life of the loan and may allow borrowers to pay off their mortgage faster. Wachovia also offers options for interest-only payments in some cases, allowing borrowers to pay only the interest for a certain period before beginning to pay down the principal. Additionally, borrowers may have access to hardship programs or refinancing options to adjust their repayment terms if they encounter financial difficulties. It is advisable to visit the official Wachovia or Wells Fargo website for detailed information on specific mortgage repayment options, as well as current contact information for any questions related to unique circumstances or additional programs that may be available.