America's Servicing Company [ASC]
United States - 45501
Our mortgage company american servicing company (asc) placed an escrow account on our loan after repeated...
I was appalled in speaking with America's Servicing Company, after they paid my property taxes and tacked on $11,000 to an escrow account. I'm a realtor and mortgage broker who is watching my 20year careers "go to hell in a handbasket" because of the horrible economy in this country! I also have a third job and tried to ask America's Servicing Company to please do a loan modification for my perfect payment history loan with them. They refused, saying that a Loan Modification would only be considered if I was in default on my loan! Now isn't this very interesting - I have a perfect payment history with ASC for 18 months, and they want me to go into default in order to request a loan modification! Well instead of modifying the loan, they jacked up my mortgage payment by $1,000 to $2,467.00 per month! This is so absurd! I also asked about a refinance, as Wells-Fargo is the "hidden bank" holding the mortgage as the investor, and was told that my interest rate of 7.795% would go to "double digits" if refinanced! Once again, how can this occur, as I have a perfect payment history with America's Servicing Company! This ASC is a RIPOFF and should be put out of business! They tell you to write to them about any problem you may have and never answer the correspondence. Then when you call them and demand to speak with a Supervisor, this is the end result!
I hope that ASC is put out of business for unfair business practices. If anyone agrees with me, let's start a class action suit against these unscrupulous companies!
Linda Hiltbold - Cape Coral, FL.
I have been trying to work with this company's loss mitigation department trying to keep my house from being foreclosed on. Once I qualified for a loan modification they told me I would the paperwork for me to fill out and return to them in a couple of days, it has now been over a week and I have not received it. They also told me that by qualifying over the phone as I had done the foreclosure wold be stopped. I called again to follow up on the paperwork and now they tell me that even though I was signing up for the loan modification, that the foreclosure had not been stopped... these people are a bunch of crooks and liars, someone needs to put at stop to their unscrupulous business practices... they tell you one thing when you first call and when you follow up they tell you something else...
ASC keeps changing websites! Even if I can find the website, they charge for paying online, the charge for paying by phone, and they keep "loosing" the dated snail mail payments so they can then charge a late fee. This is bogus, as most companies either allow or encourage paperless billing.
I know this is very long, but please read our story, we are desparate for some guidance on this one,
My husband and I had a mortgage with Mortgage Lenders Network before it was sold to ASC. It has been a nightmare ever since. My husband had a pay cut of about $2000/month at which time I went back to work full time. We were having trouble making ends meet so we decided our only option was to sell. We spoke with representatives from ASC several times to notify them of our intentions, we were told not to make any mortgage payments for the next 5 months as we were being considered a hardship case, if the house did not sell by the end of the fifth month then we needed to resume payment again to avoid foreclosure.
We got a buyer 4months into the hardship case and a closing date was set or 08/17/07. After gathering all of our paper work together, the attorneys office contacted ASC approximately a week and a half before the closing to get the pay off amount. Excuse after excuse began to flood in from ASC-it will be expedited, you will receive the pay off tomorrow, it's been sent, we can't fax the pay off amount, your client has to give us written permission to talk to you, etc, etc. The pay off amount for the mortgage came in the day of the closing 45 minutes before the closing was scheduled for.
The closing never happened because the pay off amount came with $20, 000 in fees. ASC was charging us all kind of late fees, a prepayment penalty fee and various other fees...our original mortgage didn't even have a prepayment penalty fee.
It is now October 22, 2007 and we were able to hold onto the buyer until this past Monday when she could wait no longer...
NOW we are in foreclosure, ASC will not budge on negotiating any type of settlement price saying WE are not cooperating with them!
All we wanted to do was sell our home to get out of this nightmare of debt, we weren't looking to make any money on the sale simply break even....Which all could have happened if ASC had tried to charge us the prepayment penalty, they would have received more than was owed on the note, upwards in the amount of $10,000+ but they refused to even talk to our attorneys office.
To make matters worse, yesterday in the mail we received a notice of default from the Hartford Superior court for failure to appear--We never even received anything about going to court, don't know when it was supposed to be or what it was for!!
If anyone can offer some advice we would greatly appreciate it.
I am 25 and this was the 3rd place to get my loan. They constantly posted payments late. They didn't escrow my taxes and homeowner's on time which cause them to up my payments to make up for it and then they blamed it on me. My payment went from 580 to 820 in less than a year and a half. Now I have to file bankruptcy and move to an apartment because they took over 3 weeks to assign anyone to my case for loan modification and still haven't gotten it figured out and I have received my foreclosure summons. I don't know how they get away with this.
My husband and I began to search for our first home in 05. My credit score was a 628 which enabled my ability to be a borrower or co-borrower on the home. However he was able to purchase the home through their former company title Mortgage Lenders Network. the first mortgage did not include myself as any borrower but i was added to the title. On July 19 of 06 the house was refinanced through Mortgage Lenders Network. On this document I became a a full "Borrower". More disturbing in the contract there is a form dated 6/20/06 indicating I had signed a waiver of Marital Rights. this is ###!!! Never ever would i agree to such a poposturus agreement nor would i comply to refinancing a home without escrowing property taxes or home owners insurance. The house has now gone into foreclosure. I called the new ASC lender to get information on the property and was told i was not a valid person on the account. so which is it ASC do i co-own the property or not. I have hired a real estate attorney to clear this manner up.
I thought I was the only one having problems with ASC, until I was informed to come on this site. The more stories I read, the more it sounds like my current situation with this horrible company. I can’t express the heartache and anger they have created in my life, not to mention the damage they have done. All my problems began when my loan was SOLD to them. JUST AN FYI to those who have a choice to get rid of this company, do it now and quickly. It is only a matter of time before they trap you. Unfortunately, I was too late and had to sell my home!!!
If I only knew what I know now...
I have my mortgage since we bought our home in 2005. We fell behind because we didn't escrow our taxes, so we a payment arrangement with them and then we could not get caught with the escrow and they wanted a full payment of 7200.00. So i contacted there litigation team (if they even have one) and they told me to write hardship letter and do a financial worksheet. We did this for 5 months in a row and now we are 6 months in behind and now they won't take any money. So I hired a law firm who deal with companies like this.
We got behind on our payments and ASC refused to help us work out anything to fix the situation. We were forced into chapter 13 bankruptcy. I found a higher paying job out of state and when we put our house on the market we were told we have a prepayment penalty on the loan that they will not waive. We are going to have to sell our house at 7,000 more than it is appraised for to get everyone their money. We found a buyer (to sell it short) 4 months ago and ASC still hasn't told us yes or no for the sale. Apparently there is only 1 person in the entire company that does that and she NEVER returns my or my real estate agent phone calls. I cannot afford to pay my rent at my new location and my payment there as well. They are wanting to repo the house and when they sell it at will lose money. They are going to lose money in my sale but not as much as a sale. I am unable to get any help from them at all.
So considering my mortgage servicer (ASC) refuses to enter the 21st century by offering an internet payment option free of charge I thought it would make sense to setup an automatic monthly payment. I've already had many frustrating experiences with them and just want to avoid having to deal with this company. Unfortunately I'm stuck. As far as I can tell we have no options especially in this Real Estate Market where many people like me can't get out of their current loan.
Last time when I saw that they were charging me 3 to 4 times the going rate for Homeowners insurance I tried to replace it with a reasonably priced policy. My new insurance company did everything they could to establish a new policy but ASC refused. They sent me a letter indicating that my insurance was not and could not be implemented. A month later I got around to calling them to understand why they did not allow my new policy and they said that it was because I had not sent them a letter requesting the change. I reviewed the letter they sent me and in no way did it indicate that I needed to fax or mail a letter requesting the change. All it indicated was that my policy was unable to be implemented with no solution or remedy.
I only mention this to preface what dealing with them has been like. Similar to every experience I've had with Wells Fargo they do whatever they can to nickel and dime their clients and most of their employees are very rude and arrogant. This pattern is most accurately demonstrated by their need to charge for an internet payment. So I setup my automatic payment to avoid issues with the mail and to avoid the fee. I had it going fine for a month or two and then got behind again where my payment was getting made just later than normal.
I made my June payment at the end of the month and knowing that my July payment was in question canceled the auto payment. Since then they tried to charge my account 3 different times in July without my consent. I've called each time it's happened and each time they assured me they would not charge my checking account again. Each time this has resulted a $20 NSF fee not to mention the other costs and complications this causes when paying other bills and simply managing my money. How do I get them to stop this auto payment nonsense because this is making it impossible (considering my current financial situation) to manage my money. How many people will guarantee me that they won't charge me again before this stops?
More importantly do I have any recourse? Who will hold this company accountable for their consistent incompetence and manipulation?
After refinancing our home, we thought everything was taken care of, all the papers were filed correctly... come to find out the new mortgage carrier (ASC) did not set up an escrow acct for our taxes and insurance. We have contacted them several times in an attempt to correct their mistake with no avail. Think twice before dealing with this company.
For those of you who can't seem to find help with ASC, their address is P.O. Box 1820 Newark, N.J...
My mortgage was sold to this company from Option One in October of 2006. I have had nothing but problems from the day it was sold. They do not have convenient methods of payments. You have to pay $15 every time to pay by phone. The straw that broke the camel's back was last month when I called to make my payment they advised me my payment increased due to taxes. I asked the rep when did they send me the revised payment she could not find any records of this notification. They refused to take my normal payment, they demanded the new amount stating the SYSTEM could not process partial payments. I advised this was a RESPA violation. I asked to speak to a manager, all I ever get is a senior rep!! This company is horrible. They advertise a website that does not work! The reps are rude & unprofessional to say the least.
So... I buy this property that I had been living in just... all my life... 32years... Granddad built it... my father grew up there, then later his children... he passed the torch to me and my children have not known anything other than... the homestead of my ancestors... my heritage and legacy...what once was just considered a really good place to raise some kids..in a small town... a country homeplace... a barn and an old outhouse and chicken coop... all that was left of the former 2 acre patch was the original home and about a.66 acre... our .66 acre.
My dad wanted more than anything for me to stay near and raise the kids there... I had a verbal agreement (witnessed) to rent to own... treat it as if it were your own... and an interest free owner carried loan... for the original price he had paid his mother...WoW... totally exciting news to a girl who knew her whole life that this was home... her home forever!
When my dad became ill later that year... the news of a stage 4 lung cancer was a huge blow... we tried to get as much done as possible but 5 months was just not enough time to tie up all the loose ends and what became of my home starts here... we mortgaged it out to pay my mothers own home off (she had no interest in the family home and not being of this country was headed home... a guy had offered her a lot of money for the property a guy that had been after all the surrounding properties for 20 years... turned down by all he acquired it the hard way. They all died in their homes... they all were sold off in estate sales by out of state children... our was the last... and a remedy to their almost landlocked situation... our property meant 2 extr outlets on 2 roads... the seal of a multi million dollar deal so long awaited... he offered my mom 40 k more than I could but last minute she had a change of heart and accepted the 120 I a could pay... 60 k more than dad asked but... I got to keep my home!
Family turmoil and small town-ism... made a the situation worse... for my dad was the glue... and he was gone... My husband lost his job of 8 years we had one hardship after another... pretty soon we're 8 months behind... our credit scores previously excellent, were ih the tank... we had a plan of development invested 15 k into the plan and refi deals coming out our ears... we might have had 100 + in the making... some almost made it... title companies were in the waits... yet know one ever made it... and when it sold to ASC was when it really got bad... ASC was nice as they could be... we told them exactly what was going on and they did nothing for us... I assume they were working with me... but in retrospect the ball would be dropped just after my updates to asc... pay off requests got nowhere and pretty soon i'm facing a forclosure... of which I found my own personal investor to bail me out... thats when the real trouble started... not wanting to put my friend out I did try another ave... a private lender name GINO the weekend before the sale... gino could lend me and would if I had a Realtor take a look... last minute he remembered he had someone... turned out to be a BROKER for remaxx... he looked giddy and excited... then latergino didn't call back... we called him and he says to us rather flatly... my guy said the value isn't there!!!
WHATEVER... it was a 380K piece of property I only owed 156 on... my bail out was 16... I was willing to pay him 30K... these guys took up my entire last weekend... I had no choice but to ask my friend again for help... and I did... and when I did ASC asked us to call The trustees... the trustees said to call ASC... ASC after being told to STOP the sale we have the $ turned us over to thier midigation dept... and proceeded to hang up on us EVERY TIME... I have phone records!!... I had the $... I made it very clear our intentions were to keep the home... the day after thesale I had a guy saying he was the new owner and if I could afford to pay the rent of 1000 I could stay till july...
I didn't believe it... the whole thing since the beginning stank... my 40 year loan ended up being a 30 year... and the payment were almost 400 more than we had originally thought... and when he lost his job... we sold everything we could to keep up on it so's not to affect our scores... so's we could get the financing we needed to make it an income producing property... we have 4 kids... there were soo many irregular things leading up to this... I am still in dis belief... I had the $... I NEED HELP... a hate crime is a brewing and I don't want to be a murderer... my kids need their mom... CLASS ACTION!! All the way...
Unfortunate enough to have had my mortgage bought by ASC one year ago. It is a company run by computer and...
I too have had bad dealings with ASC, they are the biggest rip off company I have ever dealt with. Like everyone else we were with another mortgage co then sold to ASC. We had nothing but problems from the get go. We finally got fed up not only with the harassing phone calls and the horrible voice mails left , the threats of foreclosure and the threats of ruining our credit we sold our house to purchase a new one. Well while our house was on the market we were foreclosed on, never received any court docs showing a foreclosure or anything. Then when our new mortgage company checked our credit one last time before finishing our new loan they found a FORECLOSURE! So in order for us to buy our new home we had to get a higher interest rate instead of 5.6% we were given 11.7% and that was with $180k cash down on a $461k home. So when you think you will be paying $1900 per month for your new home you have waited over a year for you end up paying $2900 per month and have to jump through hoops just to get that loan. At the time this was all happening it is hard to explain to someone what is going on and hope and pray they believe you. It really doesn't matter because when they look at your credit report that is what they see, nothing else. You can talk until you are blue in the face, it all comes down to the report that they have control over. They can give the 3 reporting agencies any information they want without any proof just their word and wahlah! YOU ARE SCREWED!!!
Needless to say before we bought our new home and while we still had them for a mortgage company we refinanced and got out from under them, oh! About 3 years or more now they are still showing our loan as an open unpaid account and YES! Screwing up our credit still to this day. Our new mortgage company even tried calling to get a letter showing the loan was paid years ago they manager called him every name in the book and told him to never call there again and hung up on him. I tried calling everyday asking for the letter and was told "I already mailed it", "I will fax it right now, wait by your fax machine", "I will have to get your file for a copy of the letter". I was given every excuse in the book. So the stress continues on.
I HOPE THEY ARE PUT OUT OF BUSINESS AND SUED BY THE BIGGEST LAWYERS IN THE WORLD. And I hope all the employees they have there are never able to find another job, and lose everything they have.
Thanks for nothing!!!
We were forced to pay hazard insurance when we already had proof that we were currently covered.They have not issued a refund and are still being forced to pay out every month even after repeated calls of complaints.They keep stating we will get our money back as soon as the insurance company refunds them back.They stated it would take up to 30 days and it has been now 7 months.We are at a total loss as of what to do.
This company is a trip with a capital "T". Our mortgage was sold to ASC after been told that our previou...
First of all i am a collections rep for asc out bound collections... and first let me tell everyone do you...