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  1. #1
    Join Date
    May 2009
    Posts
    3

    Default Sheriff Sale and HELOC

    Mortage was serviced by Ocwen and home equity was with HSBC, originally written this way. Home went into foreclosure and was surprised that HSBC was considered primary, not Ocwen. HSBC purchased home at Sherriff sale for more then I owed to Ocwen. Now HSBC is asking for amount from HELOC and of course providing a few days before they say they will pursue additional collection efforts. My question is, can they really pursue this as I am under the belief that Ocwen simply serviced the mortage for HSBC and if they bought the home, They cannot also pursue more given they were legally the owner of the mortgage as Ocwen is not able to write mortgage loans in Michigan, only service as a result of their prior law suits?

    ANy thoughts her on this matter. It might be noted that while Ocwen was servicing my mortgage, they failed two years in a row to pay my taxes from escrow even after I had asked them about it. They were extremely difficult to deal with.

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Sheriff Sale and HELOC

    I'm not sure what you're trying to ask. If you're stating that you had a second mortgage with HSBC, they foreclosed and you now owe a deficiency, that seems pretty self-explanatory.

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