We have a subprime loan ( First 10 yr Interest only ARM, then 20yr Principal, Interest, Escrow & ARM ) with American Servicing Company aka ASC, a subsidiary of Wells Fargo. It was originated with XXXX and sold to ASC in XXXX. We are seeking assistance to get ASC Well Fargo to agree to accept the release of the second lien holder letter with XXXX XXXX XXXX under the HAFA Short Sale agreement. We also would like Wells Fargo ASC and XXXX XXXX XXXX to provide a closing extension to end of XX/XX/XXXX with current buyer based on current short sale approvals. 

XXXX has agreed with my husband and I to a workout agreement as stated in the letter but has stated that they ca n't waive the deficiency. Wells Fargo is stating according to HAFA that the second lien holder which is XXXX XXXX XXXX has to waive deficiency also and state it in the letter. This has caused a delay in closing and possible restart of short sale process. Now because of the verbiage not to waive deficiency in letter with XXXX XXXX XXXX, we are being forced to file with Wells Fargo ( ASC ) as a traditional short sale, lose our home affordable consumer rights and relocation assistance. I spoke with a counselor from HAFA who indicated that the first lien holder which in this case is Wells Fargo ASC is required to waive deficiency because they filed the paperwork with HAFA. The counselor indicated that subordinate lien holders were n't necessarily required to waive deficiency, it was optional. 

We are underwater in our home value and behind our mortgage payments with Wells Fargo ASC since XX/XX/XXXX. I 've been under tremendous stress in dealing with Wells Fargo ASC. And all the back and forth between both lenders. I have small children and I 'm a XXXX patient with XXXX when under stressful situations like this. Recently we became caregivers for my mother who just had XXXX. 

We 've been in our home for 10 years and was denied by Wells Fargo ASC loan modification to put the first mortgage into a low fix rate. We did n't qualify for a HAMP because a private equity investor backs our mortgage through Wells Fargo ASC. During the loan modification as with the short sale process, I fell extreme duress because ASC home preservation department padded my file requesting incessant information regarding detail copies of our trust and life estate, having us to sign official forms stating that we live in the home, our mailing address is a postal box, constantly questioning my husband 's income and potential earnings and having us sign off. We ca n't afford to pay the balloon mortgage payments that increased our payments to {$2200.00} with ARM ( {$2400.00} because of ARM in XX/XX/XXXX ). We would like some relief. 
