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American Servicing Company / ASC should be investigated for fraud!

1 United States Review updated:

Maybe if we could all come together to file a class action suit against ASC. It's good to know that we are not alone and other people have the same problems with this company as we do. I totally agree and I am trying my best to refinance my account somewhere else at this time.

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  • Je
      2nd of Oct, 2007
    0 Votes
    American Servicing Company - Incompetent handling of dated material!
    United States

    As like many others we have had nothing but headaches working with ASC. We had to sell our home and move out of state for a job relocation. We first had a buyer within a month to purchase our home and ASC delayed the process for two months which resulted in the loss of our buyer. We then had another buyer immediately following the first who then backed out because of the time it was taking ASC to process the paperwork. ASC stated they never received the paperwork or they needed something else that was already faxed to them more than once. Due to their incompetent work of processing the paperwork we lost 2 buyers and then ASC wanted to foreclose on our property stating it was our fault. We tried setting up payment arrangements since it was difficult to pay on two properties and the payment arrangements were so ridiculously stated that ASC made it impossible for us to pay the mortgage. I would never recommend ASC to anyone and wish for the BBB to beware of this heinous company.

  • We
      15th of Oct, 2007
    0 Votes

    Afraid to give my email info. BIGGEST scam I have ever heard of. Calls and says "dont send $--- amount wait till I call with new figure (foreberance plan) then break plan due to non payment!!! Any lawyer who will ATTACK asc would make a fortune, but cannot find one with set of B____!!! This message is recorded and is also sent to attorney gen of NY so if they can intercept and find me, they WILL PAY DEARLY!!! RUN FROM WELLS FARGO aka ASC < and many others. I believe this comp is one of the major reasons the nation housing is on the foreclosure rise. Good luck to any with asc/wells fargo and other comps they hide within. God bless, he is the only one who can help us. cbed9

  • Wi
      21st of Oct, 2007
    0 Votes

    I think they are trying to scam us legally and I dont think they should get a way theft and liesdc677.

  • Wi
      21st of Oct, 2007
    0 Votes

    They said they would send me papers that I never received and I faxed papers to them and sent the same by mail and then no one can tell you if they received the papers and then it starts all over again we will send me forums and they never do so what do i do any more with this company no one speaks English.

  • Ru
      23rd of Oct, 2007
    0 Votes

    I was also wrong by this company. I refinanced last year and the company I refinanced with sold my loan to ASC. Since then I had a lose of income of about $600.oo a month. I started to fall beside a bit in my mortgage and was unable to send a full payment. A representative from ASC told me it would be better if I held on to what money I had and just make 2 payments next month. Of course I was still short the following month. So we ask for some help and they felt that they could put us on a repayment plan to help us catch up. Now granted our house note was $1100 before the repayment plan. The amount they asked us to pay was now $1500 a month. Does not make since to me either! We first made a down payment of $835 and another payment of 1500 but we could not keep up. It was to much. So they told us we where eligible for a loan modification. That what take all our payments that we where behind in and move them to the end of the loan. So we said fine what do we have to do to have that. They told us what need to be done and we did it. They told us once they got the paper work from us it could take about 30 day to get approved. Meantime we are getting another month behind in our payment. We call ever week for 2 months to find out if it was approved and we would get a different answer from different people every time. Finally after about 2 months of waiting we where told we where not eligible for the modification because we have not been with the company a year. Well they should have known that from the start because we where a new loan. It was like they wanted to just give us the run around. Now here it is 4 months later and I am getting letters saying my loan modification is still under review. It is so confusing because I dont know rather to send money or not. Because if I send it they may not apply to my loan yet know one is giving straight answers. I went from having a VA loan to the worlds worst loan company. God help them for what they are doing.

  • Li
      30th of Oct, 2007
    0 Votes

    I lost my home because of ASC. On Oct 11 I found out it was sold Aug 22. They won't even give an extension on Period of Redemption and I think I have it sold. They have not worked with me at all to save my house and made it impossible at every turn. I think they are unfair and treacherous.

  • Al
      5th of Dec, 2007
    0 Votes

    good

  • Pe
      27th of Dec, 2007
    0 Votes

    My mortgage was due 12/01/07 with a late charge of $70 after
    12/15/07. I did not pay be the 15th anas I was out of town and
    planned to pay when I returned as I had to transfer funds to make the payment. I received a call from ASC on 12/21/07 and told the reprepresentative I would pay as soon as I transferred the funds on Monday 12/24/07 and I would pay by check by phone.

    I made the payment on 12/24/07 by phone. On 12/27/07 I checked my balance and Asc had paid themselves unautherized out of my account and now I have a negative balance for $3625 and many of my checks are going to bounce.

    Peter J Lardieri.

  • Ca
      9th of Jan, 2008
    0 Votes

    Have you ever heard of someone (ASC) charging you for making a payment? I was told I could go on line a make a payment. When I get on line, I was looking for "make a payment". I could find it, so I called customer service to assist me and I was told to go to something like "Quick pay?" or some s--- like that!. They charge you 10.00. So, get this, I decided to mail it for 41 cents. At this moment, it has now taked 10 days and still has not cleared in my bank account.
    They totally s*ck!!!

  • De
      9th of Jan, 2008
    0 Votes

    Hey, do you remember the doc in the middle of your form that said ARM and you should read the doc before you signed, hey homeownership is not a right in america we need to be responsible, the plan you talk about hey do you know of any mortage company that has to help you these people helped me when I needed them and all I can say is how is your debt to ratio, oh yes read your docs.

  • Al
      14th of Jan, 2008
    0 Votes

    Do you have access to your closing documents? If so, look for your note. In the note it will explain how your adjustable rate mortgage (ARM) is calculated. Most ARM loans are based on LIBOR (The London Interbank Offered Rate) and the prime rate. There are other rates but this is 2 of the most popular. When the agent said that it was based on the Wall Street Journal, I think they were trying to say that the prime, libor and other rates are posted in the Journal. If you do not have a copy of your note handy, call customer service and request they mail you a copy of your note. There you will see how the rate is calculated. While you have them on the phone ask them to tall you what the rate adjustment and the % cap is on your loan. This may explain why the jump was so large. Many times they cap may be 10.99 and the 1st adjustment may be just enough to put it at the cap. How long have you had the loan? If it was an ARM that would not adjust for 3 to 5 years, the goal would be to refinance before adjustment date at a lower interest rate. I have heard some bad things about ASC, but this issue is with the mortgage company and the loan officer that sold you the loan. Servicing companies can only do what the note documents and that you sign. They cannot, by law change the note.

    It looks like ASC need help is the worst way! Based on the complaints I have read here and elsewhere, this seems to be the worst servicing company in America.

  • Ri
      24th of Jul, 2008
    0 Votes

    Trying to help an owner sell their house... and this is our experience as well. Won't answer phone. Won't return phone calls. To either us or the homeowner. Totally BS.

  • C
      19th of Aug, 2008
    0 Votes

    I am with ASC and had to gt forbearance from being in the hospital..so loss of wages. They worked out a new payment plan for me so that I can get caught up. I have had no trouble with them even when I was late..they called and we worked it out. Today my payment is due and I am going to call them now at 1-800-842-7654. (for those who need their phone number) and the website is www.mortgageaccountonline.com.

    I agree about the service charge when you call in to pay your bill..but it is what it is and to avaoid that mail your payaments on time.

  • Te
      11th of Mar, 2009
    0 Votes

    I am in the same boat with all of you who have been ripped of by ASC. It will be a good Idea to file a class action suite against ASC, as long as we are many.

  • Am
      17th of Mar, 2009
    0 Votes

    I am willing to bet all of you who have left negative replies on this board, have sub Prime loans. This means you were allready a deadbeat and allready had creidt cards that were in collections.. Then like the ###ing brilliant people that you are, you said, hey why don't I listen to my friend the realtor and get into a house.. Guess what your friend the realtor dons't give a ### about you, and like the ###ing ###s that you continue to show people who actually pay thier bills on time on a day to day basis, you signed the documents stating that My intrest rate can only go up every six months and never go down.. But instaed of reading LEGAL documents that state I will pay X amount of Dollars on X day and I will pay it or the bank has every right to foreclose on my house, you would rather start internet blogs about how ###ing horrible ASC is and they should be investigated.

    You, are the probelm with America, it isn't greed, it's stupid ###ing people like you, who lie to everyone, including yourslef into believing they can afford it.. Guess what It's not the dream of home ownership if you can't afford it, it's just a ###ing lie that has killed America because of your stupidity. Now the banks bend over backwards for you offering programs that get laughed at because you still can't ###ing afford them.. I think it's great ot live in a country where we have everything handed to us but yet we still laugh at it and spit on our handout, because it's not good enough..
    What ever happened to the days of, it's not what your Country can do for you.. It's what You can do for your Country... It's a dead belief that died the same way the man that spoke these words.. Just like a gun shot to the back of the head, gone... Seriously when did we become a Country that became such a ###ing ### and wants everything handed to us like a ###ing spoiled child.. No wonder all the companies leave this country and go places where people are greatful for jobs and will work no matter what wage thier given..
    Seriously America Go ### yourselfs.. Now I expect all the idiots to leave thier Responses here, and tell me what A ###ing ### that I am for speaking the truth.. No, go ahead I'm expecting it.. Make fun of my spelling or my Grammar.. or make a ###ing real Argument against me because I am tired of all the ###ing ### and complaing ruling the world. I make my voice heard today.. I pay my Bills on time and don't ever buy something like a ###ing house without reading the ###ing contract or have a lawyer, that I trust and know, go over the terms for me.. I know if I lost my Job, I would be out thier hustling trying to make my payment for my house, I don't care if I would have to obtain three jobs, my family will be secure.. Why don't you all just do America a favor and go ###ing kill yourselves.. You lazy ###ers, I'm tired of paying for your ### children and your ###ing welfare..

  • Ge
      8th of Apr, 2009
    0 Votes

    Dear Americandad,
    I felt nervous using both "Dad and American in the same sentence " to address you. You are a disgrace and child protective services should be called to your home. You language is inapproiate and shows your lack of intelligence. Just to clarify what is going on because you obviously are inogrant and uneducated and probably beat your wife - American Servicing Company does not and I repeat does not want to work with anyone. I owned a large mortgage company for 15 years . I had a pretty fixed prime rate on a home that I purchased with a large downpayment - my income was documented. Until last July 2008, I ran out of money. Instead of firing all of my employees or getting a governement bailout - I used my personal savings and credit to keep my business open. I have not had a paycheck for 1 and half. Yes we downsized. I put my home on the market in March 2008 and no buyers. Even if I could have sold it - would have had to come to the table with 87k - forget about the 100k in upgrades I did to my home. For the record, most of us could afford the home at the time we purchased them. Now with job losses or business failures, cost of living going up, health care skyrocketing - and let's forget about divorces - people are losing their homes. I called American Servicing and started the nightmare of a loan modification in August 2008. I was told in order to qualify - I could not have my home on the market. Not that anyone could get finaning for it- I faxed my documents -- to American Serving 29 times. The Hurricane Ike hit Houston - we were without power for 2 weeks - not complaining - natural diasters happen - no, we did not any help from Fema - had insurnace but guess what my ded. was 10k - nothing was covered - job loss, food and minor damage to the home - remember I had already - thankfully - cashed in my stocks, bonds and savings 2007 when the market was up) to help my once very profitable mortgage survive. We were told that there was a moratorum on mortgage payments for 3 months - The payments would be waived till Dec 15th 2008. On Dec 3rd a Letter arrived at my home stating that I was ineligible for a loan modification - I asked them for a worksheet of how they calcatulated this or what the plan was - I was given a line the investor runs the program several ways - Basically they spoke to me in circles. On Dec 18th I got notice that my home was set for foreclosure on Feb 3rd. 2009 I contacted - CCCS - that was joke, I called Hope Now - not eligible for that program live in Texas - and told to reapply for a modification- which I did. Now I bore with all the inconsistent letters that were sent to me throughout this living nightmare - All of my coorespondance were by certified letter, fax and I taped all conversations. I even had one lady tell me that she would not have been behind on her mortgae payments. I requested a breakdown - which is the law to disclosure how they calculated my new principal balance. - 3 certified letters went out. I got another letter stating that once again I was inelgibile for the modifications - still trying to figure to this day - why the 3 month Hurricane payments were still tacked on - no explanation. Sent more certified letters and verbal requests - i was told those certified letters just probabbly go into junk mail. Well, I contacted them on Jan. 30th (friday) both the trustee and American Service Company who has totally ignored all my written requests from validtion, produce the note etc- Oh yeah I sent all letters to the 3 or 4 addresses they would give me. I packed my house up over the weekend all 4333 sqft - and moved - On that Monday - i contacted them and told them - they won - I lost and I moved out - Well, american company told me - Oh we postponed the foreclosure for 30 days. I asked what am to do now. What's the plan - explain fees, should I move in, why was I declined for my modication - what figures are you using - Keep in mine -i don't set my clock in morning - 8:00 they always call everyday. Well my sister went to my home to check on it that Sat - There was a man in my home - changing my locks - Now they did notify me of anything of the sort - i realize in my mortgage deed they can go in if the house is abandoned etc - but this was not the case. That Friday before the breaking and entering by the mortgage company, we were going over my problem - from the begginning - I always had to start from the beginning because I felt I was speaking to an alien or my the doorknob or just banging my head on the cement curb. No mention of entering my home and changing my locks. -I did win one small battle - I spoke to one lady after all of this had happen - begging them to return the keys to my home - they were in a little concerned about that screw up - - I asked the one human who I spoke there at American Servicing Company - what would you have done if you were told you were going into foreclosure on a Tuesday and had small children - Would you not have moved out - She said Yes.. it's just their policy at wells Fargo or whoever owns my note - to torture you and wait till the day before foreclosure - so if they foreclosure on you - most people get stuck and leave their possessions behind for the mortgage company to seize - the sherriff - throws them out in 48 hours so their trapped. What a little game. My current status - I live with my parents, my stuff is in a storage unit, I just got my keys back for my house on March 31st - I discussed with them, that we could do a deed lieu of foreclosure but once again I was not eligible because my house had not been on the market for the last 90 days. I tried to tell the lady that I took it off the market to get a modification and try to sell it when the market came back - - So on May 5th - and I praying they make my day and foreclose - My neighbors are upset about the grass - I am going to sue them. They have violated every law in the book - Everyone has problems in their lives - even you Americandad - and please try take an English class- you need to expand your vocabulary - the only word you know is the f word - Get a dictionary. These people are not wanting a hand out, they are simply asking for help. It would make more sense if people stayed in their homes and made payments - The banks do not want to work with anyone. They have already gotten the money from the government - If they sell the house for $1, they made profit. We should have never given them any money. there is no motivation to work with anyone. yes there were loans that were given out that people should not have gotten. The media has exagerated the sub prime market. I worked with Doctors to Sheriffs who had gone through a bad time - health reasons - divorce or job loss - oh yeah they don't lay off by your credit score - We found that people who had problems in past were so grateful to get second chance - they paid on time - In fact, they could no have got any other credit like these people who lived on the credit cards with 700 plus credit scores -(their time is coming) they had one payment to worry about the mortgage - yes the rate was higher - 9% to 16% when I started - but what is rent - 100% interest. We are headed to bigger problems - people 's retirement were their homes - now that's gone. So I'm sick of all of these people complaining like Americandad -who they are so above everything - God help you if anything ever happens to you - anyone who wants find attorney or know one please - email me pelethedog69@yahoo.com -

  • De
      16th of Apr, 2009
    0 Votes

    i just read that wells fargo is getting bailout money from the government and since they own ASC doesnt that mean that they are required to work with home owners.

  • Ja
      16th of Jun, 2009
    0 Votes

    I live in oklahoma And my wife lost her job and ASC(Wells Fargo) won't work with us and told my wife that they won't accept our payment after a certain date. People are being screwed and No one will help!

  • Ba
      16th of Jun, 2009
    0 Votes

    I have been trying to modify for almost a year and ASC will not work with me either. I have told them they are the worse company for mortgage I have ever had and for the stupid Americandad thinking that everyone is in the same situation has a problem. I have had nothing but problems with this company since I refincnating.

  • Ta
      28th of Jun, 2009
    0 Votes

    I have been trying to get help with asc as well everytime i send the papers in that they need, they never call me and by the time i call them i have to go back through the prosess again.i have been doing this back and forth since aug.2008 and i havent been able to get any help and now i am in pre-forclosure.and everytime i fax anything to them they say they dont get it all and then i have to keep resending the documents.and i dont know what to do..so i agree that we should all get together and file a class action suit against them.tabitha turner

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