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ASC / Mortgage Pmts / No response!

1 United States Review updated:

I have spent numerous hours on the phone with ASC initiated by me, as well as dozens of auto calls re: a delinquency made to me. This loan has been missing a payment that needs to be credited since 10/06 when taken over from GMAC. It has been in the missing pmt dept. for months and a new completion date being given, but no completion made. I have been told dozens of times, there would be no bad credit reported and no late charges assessed. No late charges have been assessed but I have a 30 and a 60 day late on my credit. This has prevented me form refinancing another property and costs be thousands of dollars now. I have complied with requests over and over again but am at my wits end. I have reems of documents relating to the communications from 10/06 until now. I have been promised by a supervisor I would get a resolve and credit corrected. At this time have not seen or heard from anyone that these issues are being taken care of. What is my next step? Is it time for me to get my attorney involved to straighten this out...

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Comments

  • Re
      29th of Mar, 2007
    0 Votes

    Interesting. I am in the process of refinancing my mortgage. Wells Fargo is to be the new lender. ASC currently services the mortgage. My mortgage was also sold to ASC from GMAC in December 2006. Three weeks ago ASC gave Wells Fargo a current pay-off, which showed all payments up to date and current, with the exception of March, which hadn't posted. After we went in to sign docs at closing, title called ASC for a final pay-off, and ASC then told them that I hadn't made a payment since October '06, and that I owed over $9,000 to bring the account current! ASC didn't begin servicing the loan till December '06. After about three hours on the phone and numerous different transfers between different agents, none of which has a phone extension, making call backs and follow-ups with the same person impossible, it was discovered that there were misapplied funds on October (their mistake) and that they had to back all the payments out of my account and put them in a suspense account in order to fix the problem. They did this on March 26, the day of our signing/closing. They initially said that they would only credit the account back one month's payment per night, then they said they would allow two months payments per night to post, then they said that they would expedite it and that it would all clear. That was three days ago, and NOTHING has been returned to my account. These people are either crooks, or they are completely incompetent. I suspect that the initial pay-off request was a signal for them to screw with my account so that I couldn't get a pay-off and therefore would not be able to refinance out of the mortgage. I also suspect that they will be hitting me with 30, 60, 90, 120, days late on credit reports and also with late fees, since they backed the money out of my account and now it shows payments not being made since October.

    Good Luck. I will file a law suit if this is not completely resolved by tomorrow...

  • Ni
      1st of Apr, 2007
    0 Votes

    I am having horrible problems with ASC. Are you aware that Wells Fargo owns ASC? They're also known as Fairbanks Capital. I am making an appt. with a lawyer tomorrow about them. I have made every pymt on time and have full coverage insurance. They say my payments aren't being made although I have proof and have faxed and sent certified letters. I have faxed, and my insurance agent has faxed and sent a certified copy of insurance yet they still just sent forced insurance against me. (they also own the insurance company that was just forced on me)They also have over 1000.00 of my payments in a 'suspense' account. I am now having health problems (anxiety) due to this.

  • Nv
      14th of Sep, 2007
    0 Votes

    I can relate to your comments. I have been in constant contact with ASC since they decided to add $600.00 to my mortgage payment because they said I did not have flood insurance. I sent them a copy of my flood declaration page and the following months they continued to add this extra amount. We did not pay the amount for flood because we had it already, so we continued to only send them our original mortgage amount. Well, they decided without notification that they would put our payments in a unapplied account and for several months did not apply our payments each month. Soon after that I checked my credit and they reported my account deliquent. My credit score was 745 and now it has dropped below 600. I have called ASC to try to resolve issue, however they have not been willing to help. I can no longer afford to make my mortgage payments and not have ASC apply it to my account. ASC has put me in a position that I may lose my home because of their mistake.

  • Fe
      17th of Oct, 2007
    0 Votes

    I have a home in the US and last week was told by my Realtor the locks to my home had been changed!

    I originally had a mortgage with Liberty Loans and then they transferred to GMAC and now have found out thru inquiring with the police (after locks changed w/o my knowledge) that ASC is my Mortgage co!

    At no time was I ever notified of the change in Mortgage co and having read some of the complaints against ASC it seems they are also not applying my payments!!

    Being an o/seas owner I am v.concerned and would like any info to point me in the right direction in terms of dealing with this joke of an outfit - I have no choice but to have them as my Mortgage co which seems totally unfair!

    If you have info, pointers, suggestions etc. which maybe helpful, please let me know!

  • Th
      3rd of Dec, 2007
    0 Votes

    I'm very dissatisfied with this Mortgage Company. They are not crediting my account as it is being paid every month. They claim I'm not making my payments, also spoken to supervisor and a manager with no results to the problem. I am already in the process of seeing a lawyer now.

  • Ja
      4th of Dec, 2007
    0 Votes

    I to have had the same problem. My GMAC loan was sold a few months back to ASC and a payment is missing. My credit report is shot now and i am having a terrible time with them. By far the worst mortgage company that i have dealt with.

  • Mi
      13th of Dec, 2007
    0 Votes

    I am in complete agreement and feel your pain everyone! Our loan was transferred to ASC from Bayrock without us knowing. The first few payments took a while to post, but after that not much problem UNTIL they started hounding us about flood insurance. WE DON'T EVEN NEED FLOOD INSURANCE!!!!! We have an elevation certificate and the FEMA map shows us in area ZERO!!!!!! They constitute us needing it though because we are "on the border" what the *BEEP* is that! Months and months of paperwork and arguing back and forth and then we get flood taken care of and THEN here came the problems with the amount of our home insurance... are they KIDDING ME??? It was absolutely ridiculous. Then we got a notice that they had paid our escrows and someone forgot to tell us that we were increased SIGNFICANTLY and now we were forced to pay 2 years worth of taxes in ONE YEAR!!! our payment went up almost 500 a month!!! they luckily spread that over 2 years but STILL and THEN when our loan adjusted they told us it would only go up 1% (we couldn't refinance because we have lost over $50k in equity) BUT THEY INCREASED US 3 points to 9.75 on our first and we are paying almost $3000 a month for this $260k home! ARE THEY FREAKING SERIOUS!!! So anyway, we are not trying to short sale the home... we just can't deal with this anymore and it is going to be a lose situation for us no matter what. My CPA said that if they agree to the short sale then we would not have to pay the tax from the 1099c form that they would issue, but probably only because we have negative net worth enough to cover the loss. Anyway, good luck to you all and thanks for letting me rant!!! I needed to get that off of my chest. ASC is the most uneducated, unprofessional company I have EVER worked with and I have also gotten that stupid "x" rated phone line when trying to call their number... guess they are trying to avoid me so they can rack up some more problems for me!!! Nice!!!

  • De
      23rd of Dec, 2007
    0 Votes

    Trying to buy home since July 07. We are in an odd situation. We have been trying to buy a home that was almost forclosed on by ASC, but the owner's bankruptsy went through the 2 days before the bankruptsy. We made an offer for the house that was reasonable. The owner accepted and we just need the bank to accept it. There was far more owed on the home than it was worth, now reading these posts I'm wondering if some of what was owed was bogus fees. Anyway, it is Dec 07 now, and we are still getting the runaround. You would think they would want to take a sure thing and sell us the house, especially with the housing market what it is today. We have tried to speak with someone there but can never get a straight answer. So, why are these people still in business??

  • Ja
      12th of Jan, 2008
    0 Votes

    Over a month of dealing with ASC my payment is still missing when ASC took over the mortgage from GMAC. I have no choice now that my credit is completely ruined but to make an extra payment it seems since, no one there can seem to help me with this issue. As you everyone is aware I'm sure a late mortgage payment on your credit report is the worst thing that can happen. It seems like bankruptcy is a better solution almost. I can't get a HELOC, 2nd mortgage, I can't even get a secured loan on my vehicle which is worth 10k and I only want 5k. Basically all the hard work you put into keeping your credit good, gets ruined in 2 months dealing with this mortgage company. If anyone is starts a class action suit count me in.

  • Pa
      14th of Jan, 2008
    0 Votes

    We had over $5,000. that was misappropriated to an unauthorized escrow account instead of being applied as a monthly mortgage payment, the company argued back and forth w me about it and in the meantime, they began foreclosure proceedings for non payment!!!

    They are crooks! How about a class action lawsuit??

  • Da
      26th of Jan, 2008
    0 Votes

    they took my home . and through me and my family out on xmass eve. lost everything i worked for 33 years. now i live in a motel room . my credit was destoryed . lost my 1951 panhead harly to get my home out of forcloser and they sold it two mounths later. dont now what to do cant find a attoryto handel this and on top of all this they sent me a letter10 mounths later for a restuctor payment if any one can help please help

  • Ge
      2nd of Feb, 2008
    0 Votes

    My mortgage was bought by ASC in early 2006, by the end of 06, they started foreclosure because they would not work out a deal to catch us up after I had lost my job. When we put the house on the market, they kept saying that they were not recieving any of our faxes that were sent to the numbers that they had given me. When following up on the faxes, I was told that I sent it to the wrong number again. When we sent the our offers that were comming in, they either would take forever to review it, or reject it. They have caused my fiance, myself and our 1 year old son to have to relocate from New Jersey to Louisiana. And to top it off, that was around 6 months ago and the house is still sitting empty. I need to find out how to join the class action suit against ASC and HSBC, our other mortgage company.

  • Do
      22nd of May, 2008
    0 Votes

    asc is trying to take our home and 7 acres.here in east texas they also are saying we owe 630.00 for a payment missed a month ago, this is not true, we got behind back in oct 2007.we payed them a lump sum of 3500.00 (forced house ins for no fence around pool) to get caught up i had to make a loan from another finance company to play catch up.as soon as we payed the money, they said we owed more.like 2000.00 more.everytime we get caught up they say we owe more, we lost our home insurance, during all this so they applied forced insurance.. our payments went from 630.00 to 1081.00 a month ..we are just about ready to just move the hell out, everytime we talk to them they add more and more.we get conflicting letters with different payments owed, one letter says we owe 2000.00 and 2 days later saying we only owe 630.00 and several days later a letter saying they are going to foreclose on us.they also sent a letter saying we might fit a repayment plan that might stop the foreclosure.i called them today and tried to work a plan it was ridiclous 630.00 for june 1300 for july 1300 for august 1300 for september and 1300 for oct .and said we would be caught up.this was no help at all.we do not know what to pay them..cause it doesnt seem to any good to send them anymore..if they say we owe 5000 are we suspose to pay them just cause they say we owe this this is getting owed, we are tired and broke because of their made up b.s.

  • Ja
      14th of Jun, 2008
    0 Votes

    i really have a problem trying to contact asc mortgage company. why is there not a phone number on the web for them?

  • An
      9th of Aug, 2008
    0 Votes

    DOES ANYONE KNOW OF ANY LAWYERS IN MICHIGAN WE CAN HIRE TO CLEAN UP A CREDIT REPORT THAT WAS INCORRECTLY REPORTED BY GMAC?? MINE WAS REPORTED 3 MONTHS LATE WHEN IT WASN'T AND WHEN I DISPUTE IT THEY DO NOT FIX IT AND WHEN I DEMAND PROOF THAT THERE WERE "LAT" NOTICES MAILED, I GET NO RETURNED PHONE CALLS AND I HAVE ALL THE PAPERWORK SHOWING IT WAS PAID!
    THESE PEOPLE SUCK!

  • Ro
      27th of Aug, 2008
    0 Votes

    We were with GMAC then sold to ASC the funny thing is these people would not talk to me because they said I was not on the loan when I have all the docs to prove I am so they would only speak to my wife. You really have to wonder who is running the store.

  • Ly
      15th of Dec, 2008
    0 Votes

    does anyone know of a "go -for-the-throat" attorney here in Norhtern Calif. Been dealing with ASC since 2006 and they have caused us to file a Chpt 13 to save our home.. only to have the payments "un-real" now they have filed a relief of stay with the trustee due to non payments... trusted them in the beginnig found out they are HOME SHARKS... they dont talk to you they lie about docs ...cant get a straight answer from no one ... I want to start an Class Action, when I do I will post all info for Calif Residents to join.. Im tired of these people getting away with this kind of lending

  • Li
      21st of Jun, 2009
    0 Votes

    my husband and i have had to file chapter 13 bankruptcy also. cannot get a answer from asc on any questions we have. trying to modify our payment with them so we no longer will have an a r m . they raise the payments every 6 months by almost 200 dollars. does anyone know how to get a straight answer or a lawsuit against them in tennessee we can join.they are crooked and treat people unfairly or like you are bums.

  • Di
      13th of Apr, 2010
    0 Votes

    Anyone having trouble with refinanceing or home modifications with ASC PLEASE send your complaints directly to william.white1@va.gov. We did and within 2 days received a call from ASC stating this matter must be resolved NOW. They offered un a home modification AND a home refinance lowering our adj of 9.9 to a fixed 5.1. Please try this avenue nothing to lose. Good Luck to all experiencing this nightmare with ASC

  • Mo
      27th of Dec, 2010
    0 Votes

    Call the presidential office (1-866-416-5896) and explain the situation, it’s your last chance to resolve the issue with them; otherwise you need to find a good lawyer for a lawsuit action. It did work for me

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