Posted on: 30th Jan, 2011 06:55 pm
i am divorced. through the divorce i received the home. we finalized ownership through a quit caim deed. the problem that remains is that the mortgage note is in my ex's name. i have tried several times to have the loan modified but have been unsuccessful because my name is not on the note. i was informed that i need to assume the loan and then have it modifed.
my mortgage servicer is asc (america's servicing company, a division of wells fargo).
my mortgag has a high interest rate of 9.75% with an adjustable rate that changes every 6 months. it takes all i have to make my payments. with an unexpceted expense or time off work due to illness i fall behind. i am currently two months behind, plus numerous fees and am unable to bring the loan current so that i can assume the loan. i was told that i have to assume the loan when it is current.
i do not know what to do. i can not afford to loose my home, because rent in my area is higher than my monthly payment.
i have been going back forth with asc for almost two years now trying to have something done. i fax them docment after document, form after form, but still haven't been able to get anything accomplished.
i have called and explained my situation, sent copies of my divorce decree, quit claim deed, and anything else requested. i still manage to get nowhere. i am never assigned one particular person to handle my account, it's always a different person over and over each time wanting more paperwork to be sent and giving me a different story every time....please help asap....i have two small children and am doing everything i can to survive,.
my mortgage servicer is asc (america's servicing company, a division of wells fargo).
my mortgag has a high interest rate of 9.75% with an adjustable rate that changes every 6 months. it takes all i have to make my payments. with an unexpceted expense or time off work due to illness i fall behind. i am currently two months behind, plus numerous fees and am unable to bring the loan current so that i can assume the loan. i was told that i have to assume the loan when it is current.
i do not know what to do. i can not afford to loose my home, because rent in my area is higher than my monthly payment.
i have been going back forth with asc for almost two years now trying to have something done. i fax them docment after document, form after form, but still haven't been able to get anything accomplished.
i have called and explained my situation, sent copies of my divorce decree, quit claim deed, and anything else requested. i still manage to get nowhere. i am never assigned one particular person to handle my account, it's always a different person over and over each time wanting more paperwork to be sent and giving me a different story every time....please help asap....i have two small children and am doing everything i can to survive,.
I can understand that you're going through a tough time. I will suggest you to contact the lender and check out if you can assume the mortgage though you're past due on your mortgage payments. If the lender agrees to let you assume the loan, you'll be able to modify it as well.
Frustrated,
Lenders are not obligated to modify your mortgage but that doesn't mean they can't treat you with respect and give you an answer in a reasonable amount of time.
To lenders this is not an emotional decision, it's debt settlement, so their answers may not ever be in your best interest.
If you're getting nowhere fast with Wells, then your next call should be to the Office of the President for that company. They may not give you the answer you like but they will usually help get an answer.
Good luck!
Lenders are not obligated to modify your mortgage but that doesn't mean they can't treat you with respect and give you an answer in a reasonable amount of time.
To lenders this is not an emotional decision, it's debt settlement, so their answers may not ever be in your best interest.
If you're getting nowhere fast with Wells, then your next call should be to the Office of the President for that company. They may not give you the answer you like but they will usually help get an answer.
Good luck!