The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

America's Servicing Company / Loan modification

1 East Meadow, NY, United States Review updated:

I have tried three times since march 2009 to modify my mortgage. The first time I was denied because they (Asc) miscalculated my monthly expenses by over +$5, 000. Even after I spoke to them and pointed out this was an error on their part they said too bad and I would have to resubmit the information (Hard ship letter, pay stubs, financial info, w-2's, tax return). I did this in may. After calling them for two months, in july they said that now I qualified for a government sponsored program but that they needed all my paperwork to be resubmitted. I did this promptly.In september I was sent paperwork again saying I was qualified for a "trial modification" for three months and needed to submit more paperwork.In december I again called to see how things were going and was told to be patient. I called again in january after being told to keep sending in payments as I had done in oct. , nov. And december. I did this for jan and feb. I spoke to some one on feb 3 who still didn't know anything. Each time you call you talk with someone else in the call center who can't give you any information. When I would ask to speak to a supervisor, they would transfer me but no one ever picked up, and I would keep leaving voice mail messages and never received a call back. I just spoke to someone last friday, feb. 19 and was told my modification had been denied by the investor. I was told I needed $500 surplus each month and didn't have that. They could give me any more information but that I would receive a letter in the mail. I am still waiting a week later. They also told me that their requirements varied each day. I have never been late with my mortgage and am not in default. When I refinanced with equifirst mortgage four years ago, my mortgage was transferred to america's servicing company three months later. I went through a mortgage broker for my refi. I never was informed that my mortgage was considered a sub-prime mortgage. I beieve this was fraud.
I need help in modifying my mortgage. This company has never helped and I don't believe that they ever had any intention of helping. What happened to the making home affordable act that president obama past last year. These crooks should not be able to treat taxpayers this way and need to be stopped.

Sort by: UpDate | Rating

Comments

  • Ma
      24th of Jan, 2009
    0 Votes

    ASC gave me a phone number to call to talk to one of their affiliated councelor from the HUD in order for me to get help with my financial problem . So finally I talk to one of the councerlor and did a financial work out and told me that he will send me a copy of what we talked about on the phone and he will email it to my lender as well and will recommend restructuring or loan modification. when I received work sheet that ASC councelor had send me through mail he made it look that I owe a lot and had put extra expenses that made it wurst for me not to qualify for a loan modification. After that I have no choice but hire a lawyer who knows more about loan modification. So what the lawyer did is called ASC and start to work on my modification but the lender said that they had received the financial work sheet that HUD councelor had send to them which is wrong, but the lawyer had told them that financial worksheet that is provided by that councelor is wrong, so what he did is he send or fax a new financial worksheet so that we can start the loan modification which it could take up to 6-8 weeks. My lawyer also had told me that he already talk to ASC representative whose supposed to be the negotiator for my laon modification. Last week 01/14/08 I received a letter from ASC stating that my loan modification was denied because of the financial worksheet that the councelor had send me which is the that ASC had referred me. 01/23/09 my lawyer receive a call from ASC that my house is on the process for short sale instead of loan modification, my lawyer was shocked because we did not request for short sale because we are keeping the house and we are requesting for loan modification. ASC said that they are going to pull as out of short sale department and will send us a form for financial work sheet to start processing the loan modification again. I have miss 2 paymets already and trying to get a loan modification through ASC but instead they want us to loose our house which we are trying to negotiate for us to keep it . I was just shock because if I did not received America's Servicing Company 's phone call 01/23/09 we would not know that our house is on the process short sale not modification. This lender is not willing to help the people instead their goal is to put people out to street. I heard information about other lender who is willing to help their borrower modified their even if they are not in the bailout system. I thought the government approved to reconstruct the people's loan to avoid foreclusure because of what is happening in our economy . America's Servicing Company's management stuff are very rude and do not intend to help us borrower instead make us think that there is no hope for us. I just hope there is help for us to stop ASC to not put families out of their home. " God Bless Us "

    Maria Camara

  • Mg
      11th of Feb, 2009
    0 Votes

    why don"t the goverment do any thing to shut down this company

  • Mi
      26th of Feb, 2009
    0 Votes

    So what is the verdict and did you find someone that would help you? I'm in a similar situation with ASC. I have a foreclosure sale date but I'm also in review for a loan modification. I need help as well.

  • Av
      8th of Jul, 2009
    0 Votes

    It is very disappointing to know that Wells Fargo is the head of America Servicing Company and that Wells Fargo was one of the Nine Banks to recieve bail out money. I think Wells Fargo should be shut down.

  • Ta
      21st of Oct, 2009
    0 Votes

    We submitted an email earlier this month, I believe, regarding the handling of our mortgage. We had tried for almost 8 months to obtain a loan modification with ASC to no avail. We engaged a loan modification company and 2.5 months later we have our loan modification. Had it not been for this company, we would have lost our home. If you are trying to obtain a loan modification from ASC, I would HIGHLY recommend this company. There were no upfront costs and they were professional and honest. Quite a change from dealing with ASC directly. If you are interested in a loan modification through ASC, or any mortgage company, I would be delighted to share this company's information with you. Our new payment is almost half of what it was, which is an amount we can afford in order to stay in our home. Please email me at majors4560@comcast.net and I will forward the information to you. For those who are going through the loan modification process on your own with ASC, good luck and God bless.

  • Jc
      28th of Nov, 2009
    0 Votes

    In 2008 my ARM kicked in increasing my payments drastically. I contacted ASC regarding a loan mod and was given the run around as well as being treated very rudely. My interest rate was lowered 1 percent. ASC was unwilling to work with me. I was referred by Mortgage Express in Portland, OR regarding a forensic audit/loan mod. This company, Samaritan Financial, in Florida turned out to be a scam and I lost $2500. This firm is being investigated by the FL Attorney General's Office. Meanwhile I fell behind on my mortgage payments. I agreed to comply with a forbearance agreement and was told that if I made my payments on time I would be eligible for a loan mod review in November. I was denied without submitting any paperwork and was told that the 1 percent reducting a year ago was considered a loan mod and that the investor said I should have known that they don't do more than one loan mod per loan. THIS IS A LIE. ASC has been taking my money every month and knew all along that I was going to be denied.





    I mentioned the Obama Affordable Home Modification and was told that the investor as chosen not to partake in this program. Today I received two letters from ASC. One stated that ASC wanted to help me thru these tough times and was happy that I was a customer. All I had to do was to send in my financial worksheet (I have already submitted 5) and there were many programs available to me. The second letter stated that I might qualify for the Obama Affordable Home Modification. DIDN'T THE INVESTOR ALREADY SAY THEY DID NOT PARTICIPATE IN THIS PROGRAM.





    ASC is nothing but a company of jerks who apparently are not of this planet.





    I urge everyone having problems with ASC to contact your State Reps, Congressman, Governors. SOMETHING HAS TO BE DONE REGARDING HOW ASC OPERATES.





    ASC seems to get pleasure in foreclosing instead of helping people retain their homes.





    Let's band together and do something.





    Contact me at corbett6259@comcast.net and let's make ASC accountable for their actions.

  • Rh
      3rd of Dec, 2009
    0 Votes

    ASc a part of wells fargo bank has steadly refused our request for loan modification, this company is not here to help but destroy an American dream.

  • Ma
      9th of Mar, 2010
    0 Votes

    I call asc for a loan modification while on the loan modification they place me on foreclosure I have been sending payments and they are not accepting my payments I will get a lawyer tomorrow.

  • Lo
      17th of Apr, 2010
    0 Votes

    Please file a complaint against America's Servicing Company. We are the only ones who care enogh to stop them!!!

  • Ki
      13th of Nov, 2010
    0 Votes

    I've been trying to modify my loan with this [censored]hole crooked company for TWO YEARS! 1st modification they lowered my payment by 17 cents (after waiting 3 months), my second attempt they lowered it by $75, which we were willing to agree to, but they wanted $5000 up front, which we obviously didn't have. My 3rd attempt was a 3-month trial period, which we met all requirements, and were denied because they mistook my yearly salary as my MONTHLY salary! Their fault, but told me I could only apply for that once since it was a government program. 4th attempt, it's been 2 months and I'm still waiting to hear from them! Checked my mailbox yesterday and discovered my house is up for auction come January!!! Have tried to call them MULTIPLE times and leave messages but never get a call back. I have even tried to send them payments but they send them back. I could go on and on and on, but I'm mentally and physically exhausted with all of this so I am meeting with a lawyer on Monday. I refuse to give up my house to a bunch of racketeering criminals who have no business dealing with us hard-working Americans.

  • Mo
      21st of Dec, 2010
    0 Votes

    As a former employee i want to share my insight. ASC is a division of wells fargo, they are a SERVICING company, they do not originate mortgages . They oblidge by the terms of the NOTE that you as homeowners signed and agreed to at origination . It is not asc's fault that property values have decreased, YOU SIGNED YOUR NOTE, you knew what your mortgage interest rate and p&i payment was going to be until the maturity date of that mortgage. If anyone is to blame it should be yourselves, you should READ your documents before you sign them and you should EDUCATE yourselves on mortgage terms. They are a company not your personal babysitters. People need to learn to be held accountable for their own actions. READ your deed of trust, when you sign that it's a legal bound document that allows the lender to do all these "illegal" things that you are accusing them of. Here is a little 411 of what's inside that 6-10 page document called a deed of trust. SECTION 4- if the lender finds out that your property taxes are past due, they will protect their interest and lender place an escrow for taxes. SECTION 5: LPI (lender place insurance) SECTION 7 : if you faile to pay your mortgage within the same month they can excersise their right to send a property inspector to make sure the property is not vaccant. SECTION 14: if a BPO (brookers price opinion) is needed as is such for a mod, that charge is paid and then fwd to the homeowner. SECTION 20: Allows your "originating lender" to transfer your mortgage to whom they choose. SECTION 3: any escrow overages are in conjunction to being current on your mortgage, why would they refund you $ if you are past due DUH! so if you people took some time to read your documents maybe you would understand how this "crooked" business works. and instead of hiring an attorney or any of these 3rd party organizations (who are the real crooks by the way) why don't you put that $ towards your mortgage? JUST A THOUGHT! BE HELD ACCOUNTABLE FOR YOUR OWN ACTIONS!

Post your comment