Through the sale to Ascendancy, who specialize in distressed asset management, alternate financing solutions can be made available for customers.
No, the terms of your mortgage will not change
Ascendancy is a private asset management firm that acquires, manages, and services distressed loans. Ascendancy works with distressed debtors providing flexible financing solutions, offering where possible, that customers remain in their homes by providing innovative solution products which may not be available through a financial institution.
Mortgage loans have the property as a collateral or guarantee of payment. Ascendancy offers its customers, where possible, solution products that aim to keep you in your property
If you loans have defaulted for nonpayment, your bank could have sold to Ascendancy those loans as well. If your other loans are current this will not impact any other accounts.