Complaint Rating:

Our mortgage loan was sold to ASC. Due to unforeseen difficulties we got behind and asked if we could do a loan repayment plan in November 2006. I spoke with a representative, they took the financial information over the phone and stated they will fax me needed paperwork to see if we qualify, they wanted a large down payment, I said I could put a small amount as good faith of &1000 which all I had, she stated it was not good enough. She stated the company would respond to me in 45 days. I filled out the paperwork the same day, faxed it back same day. I was instructed to call back in a week to see if it was received. I called back in a week, they stated was received and continue to wait for answer. I called every week to check status of my loan, each week, I got the same answer, "the loan has not been assigned yet". On December, 15th, they stated to me that they had not received my pay stubs, I told them, I had been calling each week, why until now they informed me? I faxed the pay stubs of my husband and mine. I called a week later, only to find that they still had not received them, and the case still had not been assigned. I called at the end of December, they stated they did receive pay stubs, but no one assigned to case. By this time they had placed a foreclosure notice of March 8, 2007. I called twice a week, every week in January, each time, the same "Sorry, mam, the case has not been assigned to anyone". On January, 31st I called they told me that the case was just received in the foreclosure/repayment department, but still had not been assigned to anyone. I again kept calling every two days and got the same answer. We were feeling pressured as the foreclosure date was approaching. I spoke to one rep on Feb 15th, he stated they would need $13, 000 by Feb 22 in order to stop the foreclosure, luckily, I had just filed taxes the day before, I told him we would have the money. He stated they could not wait more than 7 days, he was a rep in the credit department, he told me if I was going through the repayment program/foreclosure then they would have to approve it, he then stated the case in that dept was still not assigned to any one. I explained that the company had failed to respond to me in 45 days as stipulated in November 1st, 2006. He said sorry, he could do nothing about it. I continued to call daily, still the same answer. Finally, on March 6th, I call them to tell them I got all of the $13, ooo and willing to send it or take it to them, the representative said to me "Sorry, mam, we need the whole amount of $27, 000, $13, 000 would not do. Ironically, I called on March7 and 8th I got the same answer, the case still had not been assigned, I called on March 9th the trustee which I also had been contact with, I called ASC, they told me the case had been closed. Unfortunately, our house was foreclosed on. We waited for 3 and half months for a response, even gathered the money, did everything as we were told, and we still lost our house. My husband and I are outraged and find it hard that this company would do this. The real estate agent who worked with us who came to our home to inspect it has told me that many people have lost their home this last month, sadly to say she said" all the people who lost their home, had mortgages with ASC, just this month she reposed 4 that were all from ASC".