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America's Servicing Company (ASC) / terrible service!

1 Des Moines, IA, United States Review updated:
Contact information:
Phone: 1 866 567-8440

Our mortgage company american servicing company (asc) placed an escrow account on our loan after repeated methods of correspondence asking them not to do so. Our 2006-2007 december/april property tax payment was late, which we admit. We received a letter stating an escrow account would be placed on our loan if the taxes were not paid. At that time we paid our taxes. When I contacted asc, they stated they paid the taxes also. When I contacted the county assessor’s office, no overpayment was recorded. I wrote a letter along with proof of tax payment to asc requesting the escrow account to be removed. I sent this along with a house payment which was cashed; asc customer service said they never received the letter. December 2007 we paid the first installment of our 2007-2008 property taxes on time. When I contacted asc they said they paid them november 27. Again when I contacted the county assessor’s office, no overpayment was recorded. The recorder stated the only payment that recorded was one paid by a credit card (ours) and doubted the mortgage company paid by credit card. I contacted asc and demanded a conformation number proving they paid the taxes. I received a letter stating they paid my taxes but no conformation number.

December 2007 was when our loan payment would jump from $1960.00 a month to $4010.00. I have not made december or january’s payment because the amount is in dispute (which is noted by their customer service) and because we cannot afford $4010.00 a month. $3920.00, the amount of two regular house payments sits in an account ready to be paid once this dispute is over. The regular payments have not been made for fear that asc would force a foreclosure and this money would be lost.in december I was assured that no late fees would be assessed and was far from foreclosure since the account was in dispute. Yet, we have now started receiving calls and letters from collections stating we owe over $8000.00 in payments and fees. We had made our payment on time for two years. At a time when so many houses are falling into foreclosure, I can not believe the way this is being handled by asc.

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Comments

  • Ke
      5th of Feb, 2008
    0 Votes

    I had the same exact thing happen to me! I was ahead on my payments even, but said I needed to get caught up in escrow. they simply need this back up balance as a way to earn interest on people's money. it took my over 10 mts. to get his cleared up!

  • Mi
      10th of Mar, 2008
    0 Votes

    I had the some problem as well. I admit that after my became ill and was out of work for over 9 months, I got behind 2 months. I contacted them and continued to make my payments even though I was 2 month in arrear. I got a letter one morning from asc stating that I would have to pay attorney fees for the being behind. I was asseed $1,084.00 for plus my two months late payments. after paying them by borrowing from my retirement. I got a statement from them saying I was now in forclosure and my next payment would be around $3500.00. I simply believe that this company feast on poor people and especially people who cannot afford a lawyer. I am appalled by the way the get away with hurting folk, and destroying the lives of people. I believe congress should shut the down now!!!

  • Ma
      16th of Sep, 2008
    0 Votes

    Asc is trying to put in foreclosure as many houses as they can. it's their business. also, if you are on a 3 year fixed interest period, they try to ruin your credit so you won't be able t o refinance at the end of the term and customers may end up paying variable interest mortgage rates which are of course higher than what they have under fixed conditoins.
    They are charging me for homeowners insurance that they said they placed on my behalf when I already had insurance. they are charging me for such insurance and are not posting any mortgage payment I am making on time arguing that I should pay for such insurance. they are sending me letters referring to conversations I never had with them, stating things like "as per our telephone conversation, we understand your current financial difficulties and you may qualify to a preforeclosure application... blablabla)" it is unbelievable how they are trying to build up a record for my account based on false telephone conversations!!
    I believe action should be taken against this company, not only for harassing people creating foreclosure conditions but for the lack of ethics they have to manage their business. this is the first time I fall in hands of a mortgage company of this nature.

    I would join any class action taken towards this company!!!

  • Re
      31st of Aug, 2010
    0 Votes

    I agree completely with everything I have read about asc. both of our loans were originally handled through hsbc and while the still handle 20% of my mortgage the other 80% is now being handled by asc. we have had nothing but problems with asc.
    our taxes were not supposed to be included in our mortgage payments. while in the process of disputing the tax amount in 2007 asc decided they were going to go ahead and pay them for us even though I sent them documentation of my dispute. after several months going back and forth with asc they raised our mortgage payment to more than double what it was to pay back my "escrow shortage", I continued to pay my base principle and interest (this was indicated on my check and on my paystub) amount while disputing this additional "escrow" they had added on to our monthly pmt and even went so far as to demand that we be billed seperately for the escrow so as not to show late on my p&I which I was still paying every month.
    Needless to say they refused and in an effort to avoid forclosure we sent them $4, 000.00 and specified that it be applied to "escrow", they cashed the check but instead of applying it to our account as directed they returnd a check to us in the same amount. when I called to find out why I was told they could not apply the amount to "escrow" because I was past due on my account. I tried to explain to them that the amount that they were showing as "past due" was the escrow amount and that I had attempted several times to have this amount billed differently in order to avoid being considered "past due" only to be refused. the rep at asc told me the only way to get the money applied where it needed to go (escrow) was to do a loan modification, I did not want to do this and did not understand why they could not apply my money to my loan where I wanted it to be applied. again in order to avoid forclosure and get my "escrow account" straightened out we went ahead with the loan modification. we were also told that we would have to send certified funds. we sent $5000.00 this time in cashiers checks and then waited. when we didn't get a statement the following month we called asc to find out what was going on, we were told that we could not make our monthly pmt until the loan modification was through and that once this was done we would recieve notification of what the new monthly payment would be, this seemed a little strange but the rep refused to take a pmt from us. we called again the next month and were told the same thing (I would like to note that this was the one and only time we had/have ever been told the same answer more than once by asc) we were to;d that the loan modification would be done in october of 2008.in october when we still had not heard anything and were still not being allowed to make a payment and were still not recieving statements, we contacted asc again and were told it was still being processed. we called again in november and they still had no answer for us. when we finally did hear back from asc it was to tell us that our loan modification was denied and that we needed to pay the past due balance within 30 days or forclosure steps would resume.
    At this point we had gone from current (except for the "escrow shortage") to past due ten months (according to asc). we decided to file bankruptcy. we went to our bk attorney with the latest statement from asc showing the amount that was "past due" this statement still indicated an "escrow shortage" even though I had sent in $5, 000.00 which was supposed to be applied to "escrow". when asc was given the oppertunity to "prove their claim" they provided a "dirty" copy of my loan agreement (I say dirty because in order to prove a claim an original unmarked copy of the signed in wet ink loan has to be provided) and a statement showing my past due p&I balance to be around $15, 000.00 for ten months (april 2008 - jan. 2009) this was way more than the statement that we provided our bk attorney and when I questioned my lawyer I was told that it was due to lawyer fees asc was charging me.
    I left it alone and assumed my attorney knew what she was talking about.
    Everything was going fine my pmts were back to normal, then in january 2010 we recieved a notice from asc that our monthly motgage pmt would be raised to pay back an "escrow shortage". I imeadiatly called asc to find out what was going on and to tell them that the "escrow shortage" was included in my bankruptcy. thay to;d me that they cannot include an escrow amount in a bankruptcy and that only p&I can be considered. I then asked them what the "escrow shortage" was for, I was told it was for unpaid taxes in 2007. I said no I sent you $5, 000.00 that was supposed to be applied to the "escrow to cover the unpaid taxes for 2007 and the taxes for 2008 that would have been due. the rep said he didn't show a payment for $5, 000.00 dollars. what, I demanded to know what happened to the money I sent and gave him the month the money was sent and that it was 5 $1, 000.00 cashiers checks. he was finally able to locate the payment and told me the money was applied to"past due"payments. I again explained to him that the amount past due was the escrow shortage and that I had still been making my monthly p&I and was not past due on my account when I made the $5, 000.00 payment. he basically told me there was nothing he could due and that I would need to go back over my payments and prove my claim.
    I gathered all of my payment information and emailed my bk attorney in february in an effort to avoid my mortgage being raised again. after several months of emails it is clear that my attorney is getting just about as far with asc as I have - nowhere! my attorney has just this month sent asc a letter allowing me to speak with them myself to try to resolve this matter. what exactly am I paying them for? how hard it is for my attorney to send a certified letter demanding that asc prove their figures? by my calculation asc still had the"escrow shortage"included in the monthly payment when they submitted their claim to the attorney, if they are only allowed to include the p&I then they have inflated the amount I was past due by more than double what my p& I would have been for ten months. I have now paid the"escrow shortage" by sending them $5, 000.00 which they misappropriated and applied to payments that were not past due, I am also currently paying it through my bankruptcy, and finally I am paying it again since they raised my payments in may.
    If anyone has any advice on how to get this cleared up I would welcome the advice, we are struggleing to keep up with the payments right now and would like to get this straightened.

    I can be reached by email @ princess_renee78@yahoo.com

    Thank you,
    Renee in texas

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