Bob Pace
Silver Spring,#2Consumer Comment
Fri, June 27, 2008
How can ASC drop the ball on a full payoff? In the event of foreclosure, you should be able to obtain a payoff straight thru the attorney/trustee. Now if its not a full payoff and its a short sale, I could see how they could drop the ball. Especially being a servicing company, they don't make the call on whether or not to accept it. They must get the approval from the investor. Short sales are basically a favor from the mortgage company to borrowers that didn't live up to thier end of the deal. I don't see how you can really say the mortgage company would be ruining your credit if they don't accept an offer short of what you agreed to pay.