Yes, Wachovia is now owned by Wells Fargo.  They have not completely transitioned through the acquisition and once they do adopt Wells Fargo’s best practices of which we feel are some of the best in the industry, your loan will have even more options. 

Call Wachovia and ask if you qualify for a loan modification, and fill out the information they provide.  If you can wait until the full transition takes place, you might find more flexibility with your modification. 

In the interim, you may want to find out if Wachovia is the owner of your mortgage or if they are servicing for someone else.  Oftentimes, the bank on your mortgage statement is not the bank who actually owns the loan.  Call Wachovia customer service and inquire as to who the investor is on the loan and if it is Wachovia, proceed as advised above.  If they are servicing for another investor, you may want to reach out to that investor directly.