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America's Servicing Company / False Credit reporting

1 12471 W. Mandalay Ln., El Mirage, AZ, United States Review updated:
Contact information:
Phone: 6235941712

I had an 80/20 mortgage back in 2005 and Countrywide held the 80% and America's Servicing Company (ASC) held the remaining 20%, which equaled out to be roughly $50, 000 (approximate), the mortgage was written as a second loan, but we never received or advanced any cash from the loan, it was not a revolving loan.
After the economy crashed we lost our home to foreclosure, as this happened to us before the mortgage remodifications were around. After the home was auctioned and bought by someone, Countrywide did what they were supposed to do and reported to the credit bureaus that the loan was charged off. But ASC never closed the account and to this day they are reporting that we are behind in payments. Sadly we did not know this until we went to purchase a new home last year, and we at that time found out that ASC was still reporting negative.
NOW HERE IS THE KICKER PART...
When we found out that they were still reporting negatively our real estate agent helped us to write a letter to ASC and request that they correct the matter immediately as we were in the middle of buying our dream home...
I ACTUALLY RECEIVED 2 LETTERS FROM THEM STATING THAT THEY WERE GOING TO CHANGE THE REPORTING STATUS TO BE CORRECTLY REPORTED THAT THE LOAN IS CLOSED AND NOT BEHIND IN PAYMENTS!!! I HAVE THE LETTER, FROM THEM, DATED JUNE 2011...And here we are a year later, and still reporting negatively.
We lost 3 home purchases due to this, I have written to the credit bureaus today for the very last time and now I will consult with an attorney, because this is so wrong of them to do!!! especially when they sent me a letter stating that they were going to correct the problem!!!

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Comments

  • Fl
      16th of Jun, 2012
    0 Votes

    Hello,
    We purchased a home in 2005 in the state of Florida. It was an arm loan an 80/20. The first loan was with Saxon Mortgage for $291, 000 and the second with ASC for $75, 000. Short Sales were something that realtors were learning at the time so our realtor had no luck selling our home. Our home foreclosed in 2008. In March 2009 the home was purchased through the county for $170, 000. The first mortgage reflects foreclosed on my mortgage. Processed and closed! However, ASC did not closed the account.. It continues to report past due. I even have a past due balance of $9, 100 with the $74, 000 initial balance. I am applying for a job, and because of ASC I can't proceed to getting hired... I pulled all three credits, and see the open deliquent account. I am devastated. I don't know what to do... The company that wants to hired me said something about working something out with the bank and to lower the past due balance to $7, 500 that's their threshold. I am afraid to call because it's been so long... I've read horror stories on how this bank sues and cleans people's bank accounts. What should I do? It's been threes years and this bank reports to my credit every year. I need my credit to state closed and processed foreclosed.

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