Posted on: 08th Dec, 2011 02:04 pm
We have a mortagae with ASC Servicing Corp. (Wells Fargo) and a second mortagage with HFC. ASC underwriters will not grant a loan modification with out a subordination agreement from HFC. HFC say the loan is in recovery and they cannot issue the agreement, but grant thta ASC is primary in case anything happens. I have authorized ASC to contact HFC and they will not. Where to now?
You can take legal help for this.
i believe that hfc is part of hsbc, or hsbc is part of hfc...anyways they are international company, and in my experience does not modify home loans under the making home affordable or harp, hafa programs. each person who was with this bank, had a terrible experience and received no help. if asc wont modify your loan, try for a short sale if hfc will accept that. if not, rent out your home. if you can not do anything, give the deed in lieu of foreclosure. if you live in a non judicial state that uses a deed of trust, and the loan is purchase money, there is no deficiency judgements allowed.
