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American Servicing Company
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Mar 5, 2008 American Servicing Company complaint |
My family and I are furious.. We contacted ASC in Nov. 2007 and told them that we were going to start having trouble making payments on this loan. They told us they would not speak to us until we were late with payments and had no options for us. We bought a home for $480k and it is worth about $290k now.. We didn't ask them to write off any of the house, just to reduce our rates so that we could better afford the home and not loose it. They said NO. So now we have late payments, we spoke with a credit guy, who took our financials over the phone and said we pay more out then we make.. duh.. we told you that was going to happen..So he suggested we go to loss mitigation and do a short sale. We asked if we could do a loan modification and write off part of it and keep the loan in good standing.. he said we had to discuss this information with loss mitigation.. Off we go. We talk to them, they tell us we have to fill out all this paper work and submit a contract offer on the house for the lower amount and they would decide if they wanted to accept it. Again, can we short sale it for less of a loss back to ourselves and re-instate the loan?? They said No.. now we were 90 days past due and we had no options. We have had our realtor submit 3 - 5 offers on the house, all reasonable offers based off current sales, and still we haven't heard from anyone. We call them and we spend countless hours being shifted from one department to another. Seems to me that NO ONE knows what in the heck they are doing. The lenders have no clear cut plan or action to help consumers and overall help them selves. We have tried to work with them and they don't want to. Even after seeing these big lenders get on national t.v. and say.. that they are going to stop this spiral effect and help people. They don't. it's all smoke and mirrors to make themselves look better. I want to find an attorney who has the guts to go after these major lenders. They are fradulant in saying they want to help and that they have a plan. They are telling consumers to go delinquent on a debt before they will be willing to work with them.
Does anyone know a good attorney. We sue them in federal court and they get the screws to them and have to have some kind of regulation. They made up these loans so that joe anyone could get a loan. They should be responsible for some of this.. take a loss and re-finance the loans to lower interest rates.. Would the investors like more foreclosures.. or get a little less back on their investments instead of nothing..
Attorneys step up.. this case could make you famous.. We need you to go after these lenders.. If anyone knows anyone, or has a beef with ASC, EMC, or any other lenders.. send me your story.. I am going to get someone to talk about this.. Today Show, Good Morning America.. Let's not be afraid to open up good journalism and law books to let these lenders know we wont stand for this..
E-mail me at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
Stand together and let's fight..
 Quote this article on your site | Views: 427
1. Written by This e-mail address is being protected from spam bots, you need JavaScript enabled to view it , on 09-05-2008 11:56
today i appealed to the court to dismiss asc foreclosure due to a lack of good businss tactics an ignoring my fair and honest settlement proposals---they continue with legal pressures with the hope of distroyings ones life ---they should be barred from the industry
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2. Written by Jesse, on 25-04-2008 18:54
Lets sue this company I also have they same situation from you guys. I miss my payments because them they said I have to miss your payments before you I qualify for loan modification.
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3. Written by pat, on 03-04-2008 19:23
My husband and I are going through the same thing. We have an arm and was told that nothing could be done unless we were behind on our payments. Also, have beent rying to get my arm lowered since Jan. Still have not heard anything. I will jump in with both feet also for an attorney.
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4. Written by PEACHY, on 31-03-2008 17:11
 We are going through the exact same thing!!! It is plan as the writing on the wall, they don't seem to have any heart for the people who are willing to do what needs to be done to save our "HOME"!! I would be in with both feet if there is any attorney willing to step up to the plate!!!
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5. Written by Leonna, on 24-03-2008 20:26
we are going through the same thing we applied for a forbance modification in oct.2007 were nerver notified we were aproved utill after we were 2 months behind on our payments now our sale date is may 14,2008 or come up with 15,000 dollars the inversters wont let us make arrangement good to know theres other people that want to take them to court lets figure out how
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6. Written by Star, on 24-03-2008 18:19
We have the same issue right now. Did anyone find a good attorney.
Any suggestions?
Thanks Star in Hawaii
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7. Written by Raquel Garibay, on 14-03-2008 19:37
We went through the same thing with this company. I have been working with them since October 07 and could never get a straight answer from them. We will loose our property this year.
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8. Written by Rick, on 14-03-2008 19:00
We have experianced the same situation with ACS. We also would like to see if there is something that can be done. 
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9. Written by Robert, on 08-03-2008 18:42
We have experienced the identical situation with ASC. We were also told they would not help us until we were delinquent, etc. We also asked only for a freeze in our interest rate. They said NO but they would take the deed in lieu of foreclosure. We've owned our home for 11 years and never been late with a payment. All we wanted was to freeze our adjustable rate. Now we will probably end up lsing our home.
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