• Report: #266383

Complaint Review: American Servicing Company

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  • Submitted: Thu, August 09, 2007
  • Updated: Thu, August 09, 2007

  • Reported By:sparta Tennessee
American Servicing Company
Po Box1820 Newark, New Jersey U.S.A.

American Servicing Company this company destroyed the dream we had Des Moines iowa

*Consumer Comment: Unfortunately, you're just wasting your time

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american servicing company bought my mortgage from ameritrust 2 months after we financedin apr 04.in august05 i called them to tell them my payment was going to be late and was told to send what i could and they wouldnt report me to credit beau. i sent 500.00 and 1 1/2 weeks later i got the check back and was told full amount or foreclose. 1344.90 which was 3 months.

when i called and asked how to pay it asap i was told that i would have to speak to their lawyer because i was in foreclosure. the lawyer wanted 5560.00 in 2 wks or my house would be sold at auction on the courthouse steps..

well i saved my house by paying that amount 1 hr before the sale..we still havent recovered and now my payment went up 170.00 in may of this year. what can i do ? my score is so low im having trouble refinancing,and having trouble making these payments...s****. />
Teresa
sparta, Tennessee
U.S.A.

This report was posted on Ripoff Report on 08/09/2007 12:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/American-Servicing-Company/Newark-New-Jersey-07101-1820/American-Servicing-Company-this-company-destroyed-the-dream-we-had-Des-Moines-iowa-266383. 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

Unfortunately, you're just wasting your time

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

There is no help. You signed the papers, then you were late. You were financed through a sub-prime lender, because you already had a low credit score. Then, it appears you were 3 months late? It isn't their fault your credit is bad, it's yours.

They are predatory lenders all right, but in order to keep them at bay, you have to make your payments on time every month. And to be honest, predetory or not, YOU signed a contract promising to pay them X amount of dollars every month, and if you don't live up to that promise, then they have the right to foreclose and charge attorney fees and late fees and anything else.

Also, your payment will continue to go up probably because you got into one those lovely ARMS, didn't you. It's going to be really tough to get out of that one, because you probably have pre-payment penalties to contend with as well.

Good luck.
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