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What can be negotiated with ASC?

March 25, 2008

America's Servicing Company is not willing to negotiate for a long term customer. They would prefer foreclosure. I was a first time buyer and honestly would NEVER have signed the papers for this loan knowing what I know now. The payments have been 96-125% of my monthly income and has completely drained my 401K and savings (which was substantial and now nothing). I have incessantly tried to work with this company (which the loan was sold to in the first three months of signing). This effort has been to no avail and added only an increase in frustration and no hope of getting out of this in a reasonable way. It sickens me that ASC can do this and not have any recourse for the lives they destroy. I am livid at how I have been treated and I pay my monthly mortgage, I cannot imagine how they treat me if I do not. That is about to happen, I no longer have the excess in savings to pay the mortgage and actually survive financially. The monthly payments are ~3920 and my monthly income is ~4200. If I only pay ASC then I do not have an existence and it will never be fully paid. I cannot and will not continue. I have paid over $100,000 in interest over the past 28 months and have nothing left and nothing in return. If the loan were a reasonable rate for the actual value of the condo I could survive reasonably. That is all I ask of ASC and they have no interest in negotiation on a reasonable level.

This entry was:
Posted By Another ASC client at 12:28 PM
Comments (5) | Categories: Americas Servicing Company, California Foreclosure | Tags: americas servicing company california

Related Entries

  • ASC... I did not choose them nor do I want to keep them - January 14, 2008
  • ASC told me they were just a servicing company and that they could not help me - May 7, 2008
  • We failed to get this worked out our own - February 12, 2007
  • Should I pursue a Deed in Lieu of Foreclosure - December 17, 2007
  • Why did they return my checks - December 17, 2007
 

Comments

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!
Posted By af on March 25, 2008 at 09:22 PM
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.

Many other posters have mentioned an interest in a class action suit, so if you are a client of ASC and are having problems with them please email me (just once) about your situation and what ASC has done or failed to do. Please include the following information: First Initial and Last Name, City & State, When you got the loan with ASC or when they bought it, If you are behind in your payments how many months. And then your story. DO NOT SEND ME ANY PERSONAL INFORMATION such as account numbers or ss#!!!

I figure if I can get enough people together I can then (hopefully) find a lawyer to help with a class action suit. I am not guaranteeing anything and I personally cannot provide any type of assistance. I am not a lawyer, I am just in the same situation as many other people. We must come together to fight this company!!!

Please email your story to asccustomers@yahoo.com
Posted By ASC Fighter on April 16, 2008 at 10:05 AM
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!!!
Posted By Barry on May 13, 2008 at 05:13 PM
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????
Posted By Michelle Dartis on May 14, 2008 at 09:45 AM
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%.
Posted By ceecee on July 31, 2008 at 11:09 AM

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