• Report: #232070

Complaint Review: ASC, America's Servicing Company

  • Submitted: Mon, January 22, 2007
  • Updated: Tue, January 22, 2008

  • Reported By:Bourne Massachusetts
ASC, America's Servicing Company
Only A P.o. Box Des Moines, Iowa U.S.A.

ASC, America's Servincing Company Forced into Foreclosure because they never honored my automatic payments Des Moines Iowa

*Consumer Comment: Re: Class Action Suit

*Consumer Comment: Seeking Help Also

*Consumer Comment: Anything further

*Author of original report: America's Servicing Company, Des Moines Iowa (still Fighting)

*Consumer Comment: ASC - American Servicing Company

*Consumer Suggestion: Why autopay is becoming a bad option

*Consumer Comment: something has to be done

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I am reporting ASC hoping it helps me and other hard working citizens.My husband and I along with our 2 children finally built our dream home.After living in our new home for six months our loan was sold to ASC. I had automatic withdrawal from my checking account with all previous lenders, when ASC bought the loan they wouldn't honor the auto pay. They sent me in (May) a contract for auto pay. In june they denied I had autopay. I applied for another application and a month later they denied that as well.

In Aug.2006 there was a payment to ASC through autopay,then came Sept. no autopay!! When I called and spoke with a representative and told them that my Sept. payment wasn't taken out they told me I was now late and they would begin foreclosure. I tried to refinance to get away from this company, but ASC reported a 90 day late on my credit report after a payoff demand was made, mind you on the months they didn't do auto pay I did pay them over the phone so why do I have any lates?!

Further more, when I tried to refinance I couldn't find a lender who would take a 90 day late, mind you I tried making Sept. and Oct. payment but at that time they would not accept it. In Nov. I hired an attorney who is fighting this case. They are denying her legal 93A letter which was sent certified mail and didn't respond to there 30 days. They are also denying a cetified legal document. I had a land sheriff officer serve me with the first steps of foreclosure papers a week ago. ASC attorney told us they would make us an offer but it's been two weeks, two weeks closer to foreclosure. What next? lets hope a judge finds them guilty!!! ASC forces people into foreclosure. Please if ASC buys your loan please get away from them asap!!!!

Bourne, Massachusetts

This report was posted on Ripoff Report on 01/22/2007 07:00 PM and is a permanent record located here: http://www.ripoffreport.com/r/ASC-Americas-Servicing-Company/Des-Moines-Iowa-50306/ASC-Americas-Servincing-Company-Forced-into-Foreclosure-because-they-never-honored-my-au-232070. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Re: Class Action Suit

AUTHOR: Brilynn - (U.S.A.)

I too is losing my home because of ASC me and my husband have been trying to get them to work with us but they won't!

ASC brought our loan a year ago from another company we were ahead with our monthly payments by a month and kept it that way, until ASC brought the loan. We were never notified that our loan was sold by either company and were wondering why we didn't get the monthly statement to make the payment so w called our orignal company who then told us that the loan is no longer with them and that it is with ASC and gave us the number to call them when we did they said that we are behind and that they did send us a letter letting us know that they are the new carriers, Ok we made two payments in one month but no soon we made that payment we were getting calls saying that we were late I told them that the payment is in the mail, they said ok but your still late after hearing that I told what do you mean Im still late we are located in Hawaii I sent the check in 2 weeks before the late payment date, they inturn told us that we need to send them 2 checks a month to stay current or we will be late.

I in turn told WHAT do you mean by that everyone has a grace period and you guys are calling on the first of the month telling me Im late hello have you heard of postal mail or what it takes 7 days to reach you which leave another week before the late payment. They said well that is the rules, I said ok since then we have been late because we get paid on the 15 and the 30th of the month.

Since then they have called every month on the first even though they were getting thier payments. Now my husband business has been slow and I have been working and making the payments no matter what, Now its2 years later and I happend to have gotten hurt at work and is on workmans comp. I had called the company to make arrangements to pay $200.00 a week sinc that is how I get paid ASC said no we need full payment I looked at my husband and told him if we do it that we will be late in our payments and occur late payments, why won't they accept the $200.00 a week that would put us head being that our payments are oly $624.00 a month. Ok now we sent in a $1200.00 dollar check to the company and they accepted it and continued to pay the mortgage monthly payments until they called and said we owe them $4,500.00 because they added another insurance on top of our homeonwers insurance along with a hike of ourmortgage from $624.00 to $1200.00 which doubled, now a month later they tell us that the house is going into forecloure and the only way to get out is to pay the $4500.00.

What I dont get is 4 months ago I sent them a money order for $1300.00 and sent them 2 other payments of $643.00 before they put it into forclosure which means we caught up with all the payments and all the late fees and today they are saying we owe them $4500.00 and that the house is going into foreclosure in Feburary and if we have questions o take it up with thier attorney. I called thier attorney and they receptioist says they are not acceptting any calls from any whose home is in forclosure and to call the mitigation department so I did and we worked something out but it still does not sound right after reading all of this here I don't think I wanna go into mitigation with them because of the fact that when calling them a representitive will say we didn't recieve it and that it is not in the computer as I get all the time when I call the company.

I finally asked them why is there so many different addresses and states that thier mail come from, all I got was because we are branched out all over the world ok but why cant one state take care of x amount of states because each letter or mail that we recieve come from a different address and state that all of thier posting are not getting to each branch, the representive says I don't know how weired is that...

I get the feeling something is up and it's not right! So I figure the only way changes can be made and a class act action suit can be filed is by an attorney that would take these cases and by everyone signing a petition for this company to be taken to the supreme court. I am willing to sign one, but because I am in Hawaii it needs to be started there on the Mainland (USA) where ASC's main company is at. Please if anyone does start a petition and gets an attorney to take these cases please I ask that you all let me know and you can reach me (((ROR redacted)))

( Please do not remove my email, I would like to be kept informed).

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

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#2 Consumer Comment

Seeking Help Also

AUTHOR: Monroej3207 - (U.S.A.)

I have submitted my report today in hopes that someone has a solution of what can be done about ASC. I am in fear that we will be facing foreclosure soon and in our situation every one thing that someone has wrote all of them has happened to us up-to-date. Does anyone have any information about a class action suit? We are a family of 7 people and can't afford to be thrown on the streets.
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#3 Consumer Comment

Anything further

AUTHOR: Sweetp27 - (U.S.A.)

My husband & I also have a loan thru ASC and are very concerned of what might happen to us based on all of the terrible things I've read about them, here and on other sites.

Has anyone gotten with a lawyer who thinks there might be sufficient cause for a class action suit? I'm very interested to see if something can be done. I, too, have written letters to my Governor, County Rep., local newspaper, and Corporate Employees at Wells Fargo.

If anyone is still fighting this please post back so maybe we can see what each other is doing and possibly help one another!!
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#4 Author of original report

America's Servicing Company, Des Moines Iowa (still Fighting)

AUTHOR: Leah - (U.S.A.)

My husband,myself and our attorney have fought for 8 months to reinstate payments that we were never allowed to make. After hiring 2 attorney's trying to get them to take our mortgage payment and save our home from foreclosure, They finally allowed us to reinstate 8 months later with outrageous fee's and also attorney fee's not to mention our own attroney fee's. After reinstating we made a deal with there attorneys that we will reinstate and they would fix our credit. (considering since thay never honored our payments) We reinstated on May 15th. Today is July 18th. Our credit is still not fixed and America's servicing Co. is reporting 2 30 day lates, 4 60 day lates and 7 90day lates on our credit report. This means that we have been reported of not making a mortgage payment for a little over 3 years. This case only went on for 8 months. How is this possible? We would like to get away from this company by refinancing but as long as they are showing all these lates on our credit report we will never get the chance.
They still haven't fixed our credit.
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#5 Consumer Comment

ASC - American Servicing Company

AUTHOR: Janna - (U.S.A.)

I also reported about ASC. My husband and I lost our home due to this company. We had our home sold and had a contract to close and asked for an additional month in order to close on our home. After faxing ASC the contract they denied us this opportunity and took our home we had for 6 years. My husband, myself and my 3 girls were kicked out.

All our equity was lost and our dream home was gone because of American Servicing Company. They also made it impossible to refinance this is why we put our house up for sale. Even with a realistate contract stating our home would sell they did not give us one more additional month to complete the sale.

This company needs to be stopped they ruind our lives and I dont no if we will ever be able to buy another home again. Even after they sold our home after forclosings they will not update our credit report and they show our loan still outstanding and open with the same balance. American Servicing Company said it is not there problem to streighten our credit report. This is against the law but ASC is getting away with it.

Smith Family
Plainfield, IL
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#6 Consumer Suggestion

Why autopay is becoming a bad option

AUTHOR: Robert - (U.S.A.)

Autopay agreements are being used to nudge defaults in many industries. This is happening enough that I feel they are a bad bargain for consumers under any circumstances.

1) Yeah, they are easy and all that writing of checks is such a drag, I know. BUT once you have given a company permission to invade your bank account, you may find it difficult to get them out.

2) Sometimes a company will NOT withdraw their payment for various reasons. In this case it looks as though there was a transfer of mortgage servicing. Consumers are not always made aware of the transition until a payment is missed, setting off a chain of late payment fees and this can lead to foreclosures. Autopay for mortgage servicing does not transfer to the next company! A whole new agreement must be reached with the new company and servicers have a bad history of sending the required RESPA notes to customers (they just don't do it!). The courts have ALWAYS found in favor of the servicer to date. AUTOPAY for mortgages are a LOUSY option. They are defaults/foreclosures waiting to happen! See below:

Quinn v. Ocwen Federal Bank

Plaintiffs made mortgage payments through their bank's automatic withdrawal option, but when the bank sold plaintiffs' mortgage to Wells Fargo, the automatic withdrawal option was not set up with the new bank, and plaintiffs failed to make payments as scheduled. The circuit holds that the lower court properly dismissed plaintiffs' breach of contract claim because there was no valid contract to authorize a direct withdrawal of the mortgage payment. Plaintiffs' negligence claim also fails because the bank did not owe a duty to debit their customer account under the authorization then in place. The bank's report to the credit agency was truthful and thus plaintiffs' defamation claim also fails.

3)Chase credit card company has been caught recently in the "move the due date game". Chase has nudged due dates back just a couple of days for some customers, resulting in all autopay customers being late in their payments. Of course this sets off a chain reaction of late fees and incredible interest rate increases along with dinged credit.

This is just a brief summary of items I have found showing how autopay customers can be (and are) abused. Take control and write those checks. Don't rely on automatic withdrawals....EVER!
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#7 Consumer Comment

something has to be done

AUTHOR: Terri - (U.S.A.)

I am going to contact our attorney general here in the state I live in to see if there is anything that can be done to this company for doing what they are doing to homeowners.
I think all of the homeowners that ASC is doing this to should somehow get together and file a suit or something against them. We all can start a class action against them to. I am also going to contact the lawyers on lawyers and settlements to see if I can get one started.

I told my husband that as soon as we get all of our bills paid off (which I am hoping real soon) I want to refiance our home and get out from under this company. Its sad that a company can do this to people and get away with it. They have to be stopped somehow!!
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