What can be negotiated with ASC?

I have recently had a good experience with this company but I had to keep calling until I got to speak with a compassionate human being. My husband and I spoke with her on speaker phone for about an hour while she reworked the terms of our loan to an affordable monthly payment. I think the government is currently putting pressure on the mortgage companies to do this. I am writing this to let you know there is hope. Keep trying and best of luck!

I am also a customer (not a lawyer) of America's Servicing Center (aka ASC) and have been reading on numerous message boards about the same situations over and over with customers of ASC. Such as Incorrect information given, misplaced payments, false information, lies and downright fraud.

After reading on this it seems that ASC makes more money in fees and charges in the foreclosure process than in the helping process for restructuring the loans.
So profit wise its beter for them to foreclose.
I have been trying this week to get a straight answer from them.
Oh yea, this house is headed for foreclosure!!!

Like so many others, my experience with ASC has been less than pleasant. They are rude, not willing to work out something with you and obviously, really could care less if you keep your home or not. I moved into my home with an adjustable rate and didn't want it. But, was told that as "long as I made my payments on time", I could refinance in a year. Of course, when that time came, I could not get it refinanced...even after talking to several different mortgage lenders, real estate reps, etc. So many promised they could help me, but in the end, that was not to be. I ended up having to file bankruptcy and have been waiting on the "sheriff sale" notice to show up since filing in October 2007. Well, it showed up almost a week ago now. And, I feel numb, dumbfounded, but really want to find a way to keep my first home. HELP!!! What can I do????

ASC representatives are definitely rude; and I keep getting transferred to the same rude representative every time I call. She actually had the nerve to tell me my monthly expenses were too high for them to consider modifying my loan. Obviously adding an additional $120 to my already in the red expenses did not phase her and with my adjustable rate mortgage, my interest will increase every six months until it reaches 15.025%.

I was also told I could refinance in two years with the saim loan company, when I try to contact ASC they told me they weren't in the loan business, I contacted Tony atOracle Mortgage in Tempe AZ who gave me this loan, and he said, Oh! they don't do that anymore, so i am off to a Jan 5 Foreclosure. and a possible Banckcruptcy

I am also haveing trouble with asc. when my loan came up to adjust i asked if there was anything i could do and they said to refinance with wells fargo. i was upside down on the loan so i could not refinance. after caling again asc asked why i did not just ask for a repayment plan. they never gave the option in the first place till after raising it then said it was to late and i would have to do a remodification. i was turned down the first time and the second application they never responded to me. i have been working with a counseling center but even they can not get anything done. i am now three months delinquent. does anyone know how long before they kick me out of my home and would bankruptcy be better than foreclosure?

I had informed ASC of our financial hardship back in October. We have a 80/20 loan and HOPE had stated that they your recommend us for the HOPE program but we needed to get ASC approval to deal with ASC directly first. We missed December and January's payment. I have sent them a hardship letter and information that they have requested. Now they are trying to get me to repay the 2 months that I and delinquent before they agree to review my account for a modification. I don't have that kind of money at this time. They stated that in Febuary they we are starting the foreclosure. I'm not sure what to do? Has anyone else been recommend for HOPE and has ASC, did they they approve the modification or did you have to get refinanced through a private bank... I'm desparate.

Customer service is more than rude, they won't help you out and you have to keep on calling to get information you are asking for. So my house was up for forecloser, after 3 monts. I recieved a lot of legal papers from every where. So I called ASC to find out what is going on, who sent letters out. The letter came from the VP of the modification and ASC didn't even reconigize the name. Ok, how are you sending me info and you don't have any files from where it's coming from. So they assured me that everything was fine my modification was processed. So they sent me all the info on the modfication, but when I called them nothing was really processed it's still being "looked over", they inform me. I turned in my hardship letter and all the info they needed. So I'm like how can you modify something and don't call the home owner to go over the details!!!!! Then I recieve a letter from the Shariff office telling me the house will be closed out by March...what is really going on here...I'm getting so many different answers from everyone and I'm getting passed the point of frustration!!!!

I have read many of the stories on this site, and have to say that they are not at all representative of the situation I have found myself in with ASC.
I was in an ARM with payments spriraling higher and higher. I got way behind on my payments as a result of the interest rates going up and my income going down. Things finaly got to the point of the house being set for foreclosure. Upon receipt of the notice, I contacted ASC and spoke with someone who had much compassion for the situation that I was in. After about an hour of answering questions and making payment arrangments, the foreclosure was put on hold. I was put on a repayment plan and upon the conclusion of that plan, the loan was modified with a fixed rate that I can afford to pay.
My feeling is that ASC was perfectly within their rights to proceed with foreclosure, and were under no compulsion to modify the terms of my contract--the contract that I signed. But, they did, and for that I am very grateful.
I have dealt with some rude people at ASC over the past 3 years, but I have found most of the people there, while not overly friendly, were also not rude.
What I am about to say next will not ring with much compassion, and I do not mean to come across as mean spirited. For people who have had problems with ASC because of errors on the part of ASC I sympathize with you and hope that everything works out.
However, there have been numereous other stories posted about how your payments went up, or how the interest rate was ridiculously high, etc. Remember everyone, those are terms you agreed to when you signed on the dotted line. ASC is under no obligation to change those terms. Also remember, it is not your house, just like mine is not mine. The house belongs to ASC until you have payed off the note. Therefore if you can not pay, they are fully within their rights to ask you to leave. I know this will not win me a popularity contest here, but it is the truth.

Hey Sven, what you do not understand is that ASC is way beyond corrupt. They can do what ever they want with no notice! They obviously believe they are above the law, with all the crap that they are getting away with! Even if you read the fine print and assuming you understand it they can still find a way to screw you! Sorry! If they lie about not recieving your payment just to charge you fees then they can lie just about any thing! So signing on the dotted line benefits them not every person who have not asked for all the problems they have encountered with ASC.

I got behind on payments to ASC in November 2008. My bookkeeper tryed to make two payments in January 2009 and they refused to take the payments. In February they put my house in foreclosure. I called and they wanted all kinds of financial information before they would consider any kind of payment arragement. Now they want double payments for four months to consider taking my home out of foreclosure. Is the stimulus package going to help anyone like me.

My wife lost her job so there was a big reduction in income. I made a 3/4 partial payment in December 2008. In January 2009 they up the interest rate another 2%. I asked why they did that since the government lowered the interest rate to 1%. The response was "Because we can". I did not have an original loan with ASC (it was bought by them shortly after I closed on my house). I was told that they do refinancing. When I got my loan with the original loan company, I was told I could refinance in two years. Two years later this company says I can't. They don't refinance. Since purchasing my home the value has dropped considerably.

i am embarrassed to say that i am behind with asc about 70k. i never could aford the payments. they have asked for documentation several times and have had to file bk to save the property several times. what can i do to ensure them working with me or the reducing my principle.

I to am in the same situation with my adjustable rate mortgage. ASC has offered to lower my payment and give me a fixed rate, after I make 4 more payments. After accidently landing on this web site, and reading some of these horror stories, I am afraid to pay anymore payments to them, and still end up losing my home in the end. Refinancing is not an option, as my home is not valued at what I owe!!

My mother Is in the same situation that everyone basicly is in on this page. In fact she is trying to talk to an ASC rep right now. Our situation is my father passes away in 2006 about a year after we got our house. I think it is a 80/20 loan since we have 2 mortgage companies. The other one is HSBC which has already lowered our monthly payment by $300 dollars thank god. We have tried with no success to get a repayment plan with asc since my mom is the only working person in this household. There is no way she can pay for everything by herself. The first time we sent the repayment plan with all the paper work, Including my dads death certificate, my mom's W2 etc, we never got a clear response. 3 months later we tried again. They are now say we must pay the mortgages we owe which is like 4 months to be considered for a reduction. Today we just got a Letter from a lawyer whom I believe is representing ASC about furthering the Fore closer process. I have no idea what to do to help my mom. I think trying to call Wells Fargo directly might help. Correct me if I'm wrong, WAS ASC PUT IN PLAY FOR HIGH RISK MORTGAGES GIVEN OUT BY WELLS FARGO?

Good luck those people at ASC do not have a brain, after putting my house for short sale and having manny offers that ASC did not think were high enough, ASC had a foreclosure Auction which did not have a buyer, now 40 days after being in the REO market the house is selling for less than the offers My realtor had for a short sale, this brainless ASC must be making money some how, now I wish all who deal with this fools good luck since, they are not good at math.

If there is a class action suit, I would like to know about it. My experience with ASC has been the same as all those above who have written in. This whole loan mod thing is is just a smoke screen. ASC has no intentions of modifying loans. I'm convinced after a]pplying since October and being turned down twice.

I have been trying to get a hold of the negotiator who offered me a modification on my loan, but they will not let me speak with her. The agreement says I have a $3400 contribution due when returning signed documents, but rep on phones says I have to only send $234 (told by 3 reps who viewed it in their system) for contribution and ignore the $3K requested. How do I get a hold of the negotiator to get a corrected agreement sent to me? Also if I can get in contact with her how should I go about requesting a lower interest, or even principle reduction since my loan has lost about $50,000 in equity. Please let me know ASAP I have a deadline to meet in three days!!!

Things change fast in the world of foreclosures and how they should be handled! Now you can call HUD directly get a counselor for free and they will guide you through the process of saving your home! My advice would be to call them...Good luck!

I encourage everyone of you above to contact your state Senator,Representatives, Congressmen and tell them your horror stories about ASC!!!I did this in the state of NY. EVERYBODY DO THIS, PLEASE, WE NEED TO STOP THEM FROM RAPING EACH AND EVERYONE OF US!!! Let's start a Class Action Law suit!! Anybody know how to get one going???

Another suggestion to all of you. STOP PAYING YOUR MORTGAGES!! Just like I've done. If they are not getting any money then they will be forced to CHANGE their EVIL ways. Besides it will put cash in your pocket! I'am sooooooo DISGUSTED WITH THEM!!!! They can have my house. Good riddins!!!

Try contacting the state's Attorney General's office where they do business, the state Banking department and consumer protection agencies the representatives from their home state. Perhaps pressure from many avenues will force these guys to change the way they do business or have an agency step in to help with reworks. This company inherited these mortgages from faulty lenders and are making plenty on them for banks and lenders getting bailouts. We deserve better.

Who has time to do all that work? Even being out of work right now still do not have time for all of that!

The banks got all that money, and they refuse to do any thing!

Besides the class action lawsuit, I am also writing a letter to Pres. Obama to let him know that, after all that money that was given to the banks, the banks still do not want to do what is right! They are greedy bastards!

They still refuse to work with us! I am taking it in my own hands because I can not just sit by and do nothing! It is not even about the home any more it is about the PRINCIPAL of it all! I would urge you to write a letter to the President as I have done! No one is listening! SOMEONE HAS GOT TO HEAR US!

The banks will go to hell one way or another! I am convinced of it! Good luck to you all!

We were only one month behind on our adjustable rate payment when I tried to get them to modify our loan and all they did was give me the run-around! I couldn’t believe it when the guy on the phone (he was a big jerk!) actually said that my family shouldn’t eat so much because then we would spend less on groceries and would have more money to make our mortgage payment! He also said we should get a cheaper car and a bunch of other stuff that was really rude. This whole thing was keeping me up at night worrying about what was going to happen to us. I told my friend at work about this and she said I should call the loan modification company that got her loan modified down to 3.25% fixed interest rate! I finally decided to call them, and in about 45 days they got my interest rate down to 3.85% on a fixed rate too! The company is American Foreclosure Specialists and we are really happy with what they did for us. The website is afscanhelp.com. We chose them because they didn’t make a bunch of promises like some of the other companies and they had a 100% money back guarantee. I hope this helps some other people fighting with their loan company!

I uncovered the evidence of the scam ASC/Wells Fargo were committing and showed such evidence to the Wall Street Journal. Interestingly enough 2 days later I got a phone call from the Presidents office of Wells Fargo. They now modify ASC and Wells Fargo) any mortgage I send to them for modification. And not lowering by $200.00.
Go to http://www.afscanhelp.com/loanaudit.cfm

I have been trying to have my loan modified with ASC and having the same trouble as everyone else here. Cody/R007 please tell me how to reach you.

Our has gone down 50% in value. ASC refuses to modify the terms of the loan to where it is affordable and makes sense. Where is the motivation to keep paying these people? They can take this house and shove it!

I borrowed against my home not a very good idea ASC is the lender and after filing bankruptcy that was discharged do to the mistake of my lawyer they did not garnished enough from my husbands paycheck and after 3years of paying David Peek is was discharged and we lost out on 50,000. what a scam my loan was only for 60,000.00 I asked ASC if we could do a modification we did get it after 1 years we made 1608.00 for 3 mo and we were accepted for the modification however they want us to pay 4200.00 before we make our first payment on 2/1/2010 they said if was for attorney fees and late fees nothing goes to the loan what a ripoff.

I would like to join a class action suit too! Those people are evil!

I have been trying to obtain a loan modification since 2008 my husband does not speak english n I knew nothing about buying a home so we ended up w 2 mortgages ASC goes up every 6 months n first franklin a balloon one which we still don't know what it is, If someone has any suggestions we got the paperwork from the attorney proceeding w the foreclosure n its weird because the last papers i got from the directly was to submit our taxes to see if we could finally qualify please if anyone know of any way help us m unemployed n looking getting benefits only n he just got laid off w 2 kids can anyone help a desperate family?

I would contact your local TV station and expose ASC for the trash they are! Then I would send a letter to the White House! Everyone should write a letter to the White House because President Obama should see how many people are in dier need of real help!