I have been trying to work with American Servicing Company for about 2 years, i have been trying to get a modification done on my home.
After working with American Servicing company for 2 years and continuously denied modification on my home loan I was wondering if suing my lender would have to be my next step. I’m not the kind of person that would sue however i’m doing everything to get a modification and ASC is just full of lies and i get nothing other than Foreclouser option or short sale. I truly want to keep my home.
I hate to state the obvious, but could it be that you simply don’t qualify for any loan modification program your lender offers?
There is no requirement for any lender to modify any loan.
Your best bet is going to be to work within the guidelines the lender offers. Not everyone qualifies.
If you have not done so already, I would suggest you talk with a free HUD Housing Counselor and ask them to review your situation before you start spending money you may not have for a lawyer. They can also take a look at the modification programs American Servicing Company offers and help you to determine your eligibility.
I can certainly understand your frustration and desire to sue your lender but you need to know it can be a very expensive proposition and process for you. That is unless you can find a local attorney to take on your case for free. Even then, there is no guarantee it will work out in your favor.
If your home is underwater then a short sale might not be a bad idea. At least it would get you out of the home and allow you to start again.
Please post your responses and follow-up messages to me on this in the comments section below.