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Americas Servicing Company / Who owns my loan

1 United States Review updated:

Shortly after my loan was made to me in 2004 by People's Choice Home Loan, the transferring of my servicing was made to Americas Servicing Company.

They have a pattern and practice of forcing you into paying them extra fees, by either posting your payments late or charging you to make your payment electronically. I WANT MY MONEY BACK, and so should you.

MERS, the Mortgage Electronic Registration Systems, Inc., a company founded in co-operation with major lenders to electronically change ownership of your loan in an instant, is my Mortgagee (owner) of my loan and holds legal title to all interests in the mortgage.

I called ASC in January 08 and asked for a modification, as I was probably going to miss several payments do to a period without the same income I had been making, and was told "You have to be 30 days late before we will consider a modification, but you meet the requirements of modifying your loan." I had a perfect payment history and asked if they would erase any 30 day late on my credit report and I was told they can do that.

In February they told me I was approved for converting my ARM to a 6.2% 30 year fixed, they just needed two pieces of documentation, one of which I sent to them immediately, the other took me several weeks to obtain and send to them.

My rate at 6.2% was to start March 1st, and my payments start April 1st.

I waited and waited and finally the first week on April they told me I had been DECLINED on March 24th and put into active foreclosure on March 30th.

In our state we use judicial foreclosure thank goodness so this can go into major litigation without it as much as costing me a penny and that is where we are now, with some unknown loan company claiming they own the loan, MERS saying they do and ASC is servicing it. Meanwhile People's Choice is out of business and WHO KNOWS where my original note and mortgage are or who really owns it...SO I'm asking the court that in the event no one produces the originals within five years, all payments are returned to me and the security interest be re-leased... Although I have now rescinded this loan for failure to supply ANY disclosures required by law (ASC will only do things verbally - in defiance of federal law that says they MUST respond IN WRITING within 30 days).

My damages include the loss of my credit standing and future lost income and standard of living. MANY times more than the amount of my mortgage.

Through these intentionally Unfair and Deceptive Practices I have suffered a huge injury, and I expect in the end I will get an award sufficient to more than payoff my first with Peoples Choice and a Line of Credit I took out in an amount about equal to my first and to compensate me for the Bad Faith they undertake in oppressing people and the shocking things they have done...the lawyer wont even talk to me because I have filed complaints against them for violating state bar rules for filing a foreclosure action using fraudulent allegations.

You only stand a chance if you AGGRESSIVELY stand up to them and hold them AS accountable as they hold YOU accountable.

ASC is an alter ego of Wells Fargo, to do the things they don’t want Wells Fargo's reputation to suffer for, but the people and offices and phone lines are Wells Fargo

Va
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Comments

  • Re
      9th of Jun, 2008
    0 Votes

    I agree with everyone on this comment board and I am so sorry to hear about all the trouble that you are all having. This is the reason I started my company. I have helped several people that have mortgages with ASC, Countrywide, and other mortgage companies that don't seem to care if they harass people or suck them dry. The comments I have heard are along the lines of trying to get blood from a stone or turnip, or something like that.

    I have a service that actually will take you out of the loop of contact with ASC, or Countrywide or whomever you have servicing your loan. All you have to do is tell me how we can help you. By that I mean, tell us what you are looking for us to do for you and we will pursue the help that you want, no matter what. We have all aspects of the mortgage business covered from being a mortgage mediation company, a title company, a real estate company, all the way to having access to attorneys for litigation or help to avoid foreclosure. No aspect of help is turned away.

    Let me tell you, most of the customers that I deal with have told me about the fear and the frustration of working with mortgage companies that don't seem to care or give them the runaround. To be totally fair, mortgage companies have their ways of dealing with people. Some are good, some are horrible. But one thing all mortgage companies love is being vague. When they are vague, they don't have to give you information until you ASK for it. How does that help you? How can you try to save your home if you don't know how to ask the right questions?

    That’s another reason why I created this company. I take your number out of their "system". When they mail you something, it goes to me. I take the burden away from you so you can live your life without the phone calls and the letters. And the rudeness!!! Oh, man, if I told you some of the stories I have heard...let's just say, it’s not pretty.

    I know that some people are going to look at this comment and go, this guy is trying to drum up business. Well, you're right. But here's the kicker. I used to work in mortgage collections. I used to make the phone calls and send the letters. I used to work around the people that make your lives hell. And I kept asking myself, why? Why are these people not being told about the help that’s readily available? Why are these people not being helped to make payment arrangements that are realistic? Why does this company care more about the money than about customer service when that is supposed to be their primary objective?

    That's why I got out. I can not stand collections. Just because they are hiding behind a company name they think that they can say anything or act anyway they like with the customers, being friendly with one and the next 40-50 they can treat like crap. Where is the customer service?

    I take all that frustration away from you and create solutions that work. I know that it may be hard to swallow, but I do. I have done it for several people. And I can do it for you too. If you want more specifics or just want to talk to me, call my office at 888-453-1518 and check out the website, which is being updated with a few new options available. And this isn't just for people facing foreclosure, people that are current and want to pay off their home early, call me. I can and will help as many people as I am able to. What have you got to lose? Website address is http://www.onlybusiness.com/members/RealtyMediationService...and if not for you, best of luck. In all your endeavors.

  • Vi
      22nd of Jan, 2009
    0 Votes

    Has anyone considered class action against ASC. Are there 5 others in Missouri that have suffered from the actions and activities of ASC. I am not an attorney, but suffered to and feel that I have been scammed for legal and late fees. I can think of no other way, than class action to bring attention to this problem.
    Victoria

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