Complaint Rating:

Company information:
Minnesota
United States

after reading these and other complaints on related websites, I can say that none of you understand the commitment you made when you borrowed the money to purchase your home. you are all under the belief that the loan servicing company and/or mortgage lender is required to accept late payments and provide you with options to bring your loan current through payment plans and loan modifications. you need to sit down and read the terms and conditions of your deed of trust. an escrow account can be established if you do not respond to the servicer when they ask for proof of tax payments made or current hazard insurance. they are required by the deed of trust to ensure the integrity of the property. you need to remember, until you make that last payment on the note, you do not own the property. the lender has a right to protect their interest. also, if you are being serviced by ASC, it's because you are considered a high risk, subprime borrower. your credit scores are in the high 500s to low 600s. this is considered poor credit. the bank or lender has every right to protect themselves from default by charging higher interest rates because you have proven in the past that you will default on your obligations. your note states your payments are due (usually) on the 1st day of the month. there is no grace period (again, read your documents) on a mortgage payment. technically, you are in default on the 2nd day of each month if you have not made your payment. the servicer is not required to accept short payments, interest payments, payments of principle and interest if you have an escrow account. you agreed to the terms of the contract when you wanted funding for your home; but once it became inconvenient to make your payments, you start blaming your servicer for all your troubles. I will agree that any large corporation can and does make mistakes, but certainly not at the level these complaints would have you believe. read these complaints, these people admit they are in default, admit they missed payments and admit they wanted ASC to fix their problems. banks do not want your house. it costs more to foreclosure on a property and have to refurbish it and make all payments for taxes and insurance and maintenance while waiting for the property to sell. the bank makes its money when people perform their loans. that is what the interest is for. I'm sure the majority of you chose to take vacations or buy Christmas presents rather than make your mortgage payments on time. or you lost your jobs and expect the servicer to feel sorry for you. banks are not charitable organizations, they're not your mother. if you can't continue to afford your home, sell it or work two jobs or whatever you have to do to satisfy your obligation. stop whining and grow up. and by the way, ASC is a 'doing business as' of Wells Fargo. Wells Fargo did not purchase ASC; ASC is not a division of Wells Fargo; ASC services all subprime loans, not just Wells Fargo originated loans. if you're going to whine and complain about a company, you should at least know what you're talking about.