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America's Servicing Company / Scam and cheating!

1 2924 SANTA BARBARA BLVD BLVD NORTHCape Coral, FL, United States Review updated:
Contact information:
Phone: 239-573-1978

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.

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  • Li
      25th of Feb, 2008
    0 Votes

    I cannot believe that this company has not been hit with a class action lawsuit. I would be the first one to join in. What a rip-off company.I did not know that they were part of Wells Fargo... Should have guessed since Wells Fargo is one of the largest mortgage companies these days. What can we do.? You call and can not talk to anyone who knows what to do about any sort of problem. My problem was insurance that they did not pay and then added their own insurance at $3000. Their reason was that the policy submitted to them for payment by Farmer's Insurance did not match my name or the address of my home. Of course they never notified me or Farmers to see if there might be a typo or other mistake on their part or the insurance company. So I got hit with an increase in my mortgage payment of $800.00 per month. I tried talking to a rep. and got nowhere as she said that was the information in her notes!!!

  • Ju
      25th of Mar, 2008
    0 Votes

    I know exactly how you feel. ASC has done the exact same thing to me. I have paid on time for 25 months with a 10% rate hoping that after paying this high rate on time for so long that it would be eventually rewarded. Well, it was but for ASC's benefit. Due to the high payments I was unable to pay the property taxes and ASC so kindly established an escrow to pay the tax. ASC never mentioned that they were going to charge me $13, 200 for property taxes that totalled $3100. This added over $1100 per month to my mortgage which totals $4000 per month for a $310K loan with excellent payment history. It amazes me that ASC is not willing to negotiate at all. I have begged them to refinance or modify the loan before I cannot pay the monthly payment and their response is the same as you, not until I default. I cannot get them to even transfer me to Loss Mitigation AT ALL. It is like it does not exist until you are forced into not being able to make the payments. They want you to not pay instead of trying to create a good paying customer for decadeds to come. Their goal it seems to me is to foreclose all the loans they currently hold. I did not chose ASC, my loan was transferred three times ultimately to ASC where it has been for the past 25 months. I am in the process of finding a lawyer to protect myself from getting further screwed by ASC. I would also like to set up a class action suit to put ASC in its place. Even if the only result is satisfaction that ASC no longer does business. My email is Please do not hesitate to contact me. having this loan with ASC is the only decision in my life (which was not even in my control) that I have regrets. I will make sure to set it straight. There is no way this is going to go down without a fight. I will make it my goal to make it right. ASC has effectively attempted to screw me financially in every possible way. ASC has conveniently lost payments that were electronically recorded, the property tax escrow debuacle, the increase in rate on top of all of that to 11% making the total payment 16% of the loan amount! No lender has seen such horrible rates. I have spoke to over 30 other lender to try to tansfer the loan but no one will touch it due to the negative equity on the condo (-$125, 000) even if my credit score were 800. It is criminal what ASC does and I will not let it go by without notice.

  • Ro
      10th of Apr, 2008
    0 Votes

    Count me in! I don't want a dime just the satifaction of watchin them ### squirm for awhile they are in need of modification if you know what I mean... Ro.

  • Th
      14th of Apr, 2008
    0 Votes

    I'm right there with you. If you get a lawsuit together send me an e-mail.

  • Sa
      28th of Apr, 2008
    0 Votes

    Looking at legal counsel. Same story as above!

  • Sh
      6th of May, 2008
    0 Votes

    ASC sucks they have put us in a horrible situation we are experiencing the problems as everyone else If anyone can help and tell us where to turn to please contact me via e-mail thank you very much.

  • Ka
      23rd of Aug, 2008
    0 Votes

    Dear Linda Hiltbold - Cape Coral, FL., as a Realtor you should know that the taxes have to be paid!!! Also you know that it is part of your contract that they can force place an escrow. They are a servicing company not a lender and can only modify what the investors will agree to. Also check your original loan docs for the name of your investor that did not change. It is not Wells Fargo just because ASC services your loan.

  • Je
      6th of May, 2010
    0 Votes

    Linda can you please tell me what has happend to your loan since you posted your first comment. I am going through this with them now. I finally did a loan modification and they have gone up on my payment 3 times in the last 3 months. I don't know what else to do and it is driving me crazy. Please help me.

  • Fr
      25th of Oct, 2011
    0 Votes

    oh boy i have been going through this for 3 years and they dont have a clue as to what they're doing . well then again maybe they do because we are all in the same jam ! well they're suppose to be helping and all they have done is bigger damage . i was also looking to remodify and they also said the same thing i hade to be in default, hummmm well stupid me fell behind a month and all they did was raise it higher . i paid off my second mortgage thinking it would be beneficial and to no avail, it just made it worse . For 3 years now i have been going to court and ASC always seem to need something else, and can i ask HOW THE HELL DOES PAPERWORK GO STALE ???? that is always their excuse so what doo i do i load them up everymonth with all my info so that they have no excuses . Now i have to pay close to 700 more than my original mortgage and as a single mother its just impossible. I cried but i do say one thing i will not go down without a fight !!! ASC is just a BS company doing a BS job !!! we all need to get together and fight !!! im in 10000% has anyone lost their homes to them yet ???

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