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ASC (America's Servicing Company) / Trying to get modification of loan

1 United States Review updated:

I was sold to this company in August 2006 from Fremont Investment & Loan (who are no longer in the mortgage business as of February 2007). I made my scheduled payment in September to Fremont because I was not aware I had been sold, I never received a letter from Fremont until I had made my September payment.

That payment was never applied to my loan with ASC and since then ASC has been saying that I never paid for September. However I managed to catch up the loan but late fees were assessed regardless. I applied for a loan modification in December 2006 with them to try and bring my account completely up to date.

They told me it would take 30-45 days before making a decision. I called to make an over the phone payment in January and they told me to abstain from making the payment until they notify me of the loan modification decision. In February I got the same answer.

Finally on March 19th I was served with foreclosure papers. I am required now to come up with a lot more money to reinstate my loan or lose my home. I have been given until the end of April to reinstate my loan or they will proceed with the foreclosure. I have been very dissatisfied with them from the beginning and when I did a Google Search on the Internet this morning to find their website, I found all these complaints and negative reports about ASC. I was stunned! I thought I was the only one! How can these people get away with this? They are ripping people off and no one seems to be able to do anything about it!

If anyone reading this knows what can be done or who we can go to, please post it on this site... Let's pull together and fight back!!!

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  • Lu
      24th of May, 2007
    0 Votes

    Something like that happened to my wife with the same company.

  • Ho
      3rd of Aug, 2007
    0 Votes

    Read your letter of loan transfer. You are told that any payment made to the old loan company will be applied to the new loan holder with out any fees or penalties. This of course do not go on forever, there is usually a 30 or 60 day period for the transfer. That letter spells it all out. Put on your underwear and grow up. “These people” are not “getting away” with anything. They are doing what is legal, and what is spelled out in the contract YOU signed, read it.

  • Ei
      18th of Jan, 2008
    0 Votes

    I have been approved for a Loan modification and they are taking much longer than the 45-60 days..however..the incorrect info they gave you was you must continue to pay..even if it increased...which is what I have done..not easy, but no way did I want to go to foreclosure.

    I started with Freemont as one really cares and there is no one to escalate to.

  • Ke
      23rd of Mar, 2008
    0 Votes

    This is a comment for HOWARD!! Like ADA I did not get a letter saying we were being sold we have NO PAPER WORK FROM ASC ... How how the hell can we "put on our underware" and grow up, And further more because of your ignorance I hope your mort gets sold them them!!! You'll see! BTW Happy Easter!

  • Do
      1st of Apr, 2008
    0 Votes

    OMG, I thought it was only me! I am totally screwed byASC. There modification dept totally misinforms!
    I started my modification in Nov 2007 and was told the same thing it would take 30-60 days and would be assigned to a negoitator within two weeks, oh yes and not to submit payments to either put them in a suspense account or a savings acct until the modification is done, because investors will not help if there is not a need. They assured me the payments would remain the old amount until the mod. was complete . I was not convinced this was correct so I asked to speak to a supervisor who advised me the same, I took down names and employee numbers and reasked the question everytime I called which ended up being a spreadsheet because they would not return calls. Needless to say it took 6 months and refaxing the same info 3-4 times for them to say they denied me because I did not meet the new Debt to Income guidelines. They told me to redo the modification. Now I find out that as soon as they denied me the sent my loan to there attorneys for foreclosure. Oh it gets better, I now have 6 months of late payments on my credit even though I made a big payment upon finding out what was going on, and come to find out they did not offer locking in my old payment amount because being I was denied they claim it is all invalid. This loan I was a co-signer with my mom on it is her home, I have my own home with an adjustable that expires in Nov and now I will not qualify because my credit is totally shot! Thank ASC! I have tried everything and still at a dead end with no help in sight! How sad that nothing can be done about ASC, I am a single parent for the past 12 years and everything that I have worked hard and sacrificed for so my children can have a headstart in life is now GONE!

  • Ka
      3rd of Apr, 2008
    0 Votes

    I am also getting screwed by ASC. When my mortgage was sold to them, nobody sent a letter or called, so I sent my regular payment to my old mortgage company. The check was cashed by the old company, but was never applied to ASC. So from day one with this company they have said I am a payment behind. So I finally just paid an extra payment to get them off my back, which put me behind on everything else. Then they messed with my Escrow account, and put me in the negative which in turn raised my mortgage payment It's been one thing after another with this company. I fell behind 2 payments, and now I just recieved forclosure papers. I have until April 21st to pay to reinstate, which is an ungodly number. I want to pay, but am scared to death I will pay and it will just be something else. I can't keep digging myself out with them, when in all actuality they are the ones scamming me.

  • Ne
      15th of Apr, 2008
    0 Votes

    I have been going through the same thing with ASC. I applied for a loan modification in December and was told that it would be at least 45 days before a decision would be made. 3months later I get a letter telling me I was denied. Now sitting in full forclosure procedures. I reach out to some companies for assistance. I was told to get the pa 91 notice but ASC refuses to give this document to me. I can only pray to come up with the money and REFINANCE out from ASC... Horrible Company.

  • Ch
      15th of Apr, 2008
    0 Votes

    Have anyone had any luck with their mortgage modification? If yes, please post a comment with the actions and tools that was used to achieve the modification.

  • Ar
      23rd of Apr, 2008
    0 Votes

    We are also victims of the Horrible company ASC. We have had our home for 7years and they took over the loan originally from WAMU. What a diffrence we fell behind in payments and I madecontact with them and wired them 1575.00 to start my loan MOD and I just found out that they are foreclosing my home whikle I am still paying them all of thast money. I could have kept that in my pocket and moved.

    These Vulchers need to be stopped someone need to contact the Governor or President someone with power to help us the people of the Inited States. HELP!!! Lets all class action this place

  • Br
      28th of Apr, 2008
    0 Votes

    My dealings with ASC have been horendous also. I was sold to them by Fremont investment. Shortly after that I had some taxes due, and ASC paid them with out my consent. They then tacted the amount onto my ever rising mortgage. When I could not pay all at once, I began to make 2 payments within the same month. That tacted on a late fee. Then ASC would send out appraisers to my home for which they charged me for. Not once, or twice but several times a month. When I asked for restructuring or loan modification, they gave me a plan that was $1000. more than what I had been paying a month. When I could not pay that they set it back to the original ridiculous amount, that I had trouble with and then stated over the phone that it would be that amount for 4 months, then the 5th month (July) they were not sure what it would be. When I got the agreement in the mail it said I will owe $14, 456.00 for the month of July. Boy! am I screwed. If the $2, 558. was hard, then the$3, 558. was way to hard, then back to $2, 558., hard a again. What makes them think I have $15, 000.00 stashed some where. My orignal payment was $1, 500.

  • Ma
      29th of Apr, 2008
    0 Votes

    The same thing happen to me with them. I now how a payment that is way to high for the house I live in!! What can we do?

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