How can ASC keep raising our payments like this, what can we do about it?

My first loan was through option one and sold off to ASC within a month without any notice. Every since then, my payments have been going up and my loan was supposed to be Fixed through option one, but since it has been changed to ASC in 2005 it became a variable rate and loan up to 40 years. What can i do to stop ASC from raising my mortgage payments?

ASC has been less than cooperative with our loan. Many of the stories posted on your site sound familiar. We are were three months behind on our mortgage. Call and said that we could send 1800.00 then in two to three week later send the rest to bring up to date. ASC said no problem that they would note it on our account. We sent our money in and they returned and said that where it was not in cashier funds that they could not accept our payment. Well, no one from ASC told us that it had to be in cashier funds. They said that they had started foreclosure proceeding. But, they could workout a payment plan, when ask them for that in the first place but said that they could not help us so, we had to agree to their payment plan that has increased our payment from 910.00 to 1485.00 My repayment plan is set up through August. It is very hard for us to come up with all that money plus having to pay other household and medical bills.

yeah i had the same problem i was told to just pay on the 2nd loan and they would work with the first loan so i did every month called to see if the loan been approved nothing cal back well in the mean time i am getting letters on my door about foreclosure sell date call them up don't worry well i did on dec 27th it went in to a trustee sale they did not want to work with me at all this company is no good now i am forced out to move out of my home no notice how long i have got to live in the house at all tonight just got a 3 day notice

We are having the same issues with ASC. They acquired our loan in February of last year, and we received no notice of their existance until July when they sent us a letter stating that because our escrow account was not paid up one year in advance our mortgage payments would be going from $1600 to $2400 for the time period of one year. We are now struggling to meet our mortgage payments and are now 2 payments behind. We can't refinance and our credit has gone down the drain because we have defaulted on all of our other loans and credit card debt just to pay for our home. They have to be doing something illegal because usually mortgage companies are willing to work with the mortgagee - not this company, they stand firm that they will foreclose on our home and there's nothing we can do about it.

I am also having problems with ASC. Everytime they pay my property taxes my monthly mortgage payment gets higher even though I have an impound account. I recently went through a modification plan, but my payments are now $500 more a month. I am a single grandmother raising 3 grandkids unexpectedly. Who and where can I go to have my loan rewritten? I had ASC before and thought when I had refinanced back in 2006 I was done with them,but they have my loan again.

Hi Cecilia Broussard

I really do understand your situation. My mother and father are raising my two
nephews with no help the either of the parents. They are both retired not by
choice but their health is not the best. So, I can say that I can understand
your frustation.


Good luck and take care
God Bless you and your family

i cant keep paying this amount 3,600 for a cape is way to muc. i am going to end up losing my home!!!!!!!!!!! HELP

ASC has done the same to me. Promised a remodification, made me send payments via Western Union, Then raised the interest rates. Original payments of 1106. went up to 287. .. That was after originally trying to get me to sign up for 1600.00 per month payments. They show over 5000.00 more in arrears than I actually am, and they have added an extra 15000.00 to the end of the loan, and insist that before they will even begin the remodification payments that I have to send them 3,000 by the 18th.. Less than 3 weeks to come up with that kind of money. They are not here to help and have very fraudulent practices.