American Servicing Company ASC WRONGFUL FORECLOSURE POB 10328, Des Moines, Iowa

I really think ASC is nothing but a collection company that just sucks all the money possible out of the customers whose loans they are servicing and have no intention or authority to talk to anyone about a loan modification. Many letters I read on this site and other complaint sites reveal how ASC uses different methods to stall the modification process; "they didn't receive the documents" or "you didn't send some fee" or "you didn't send the right ones" etc., etc.............

Folks, it's just a stall to see how MUCH they can get out of you before they say you have been denied the loan modification.  I think they use this method to position themselves for the foreclosure and so the house won't be vacant and vandalized while they are approaching the right time frame to complete a foreclosure.

These negotiations must be handled by a separate division of ASC and are designed to increase company profits. I would question whether the employees in this capacity are paid commission on the amount of money they are able to collect. Since this seems to be a pattern, I would like to see this scenario investigated.

I have hired an attorney to represent my interest and he will be glad to file a class action suit.  If anyone is interested in joining me...I suppose you will have to contact this site and ask for my contact information.

I hereby give permission to the editor of Ripoff Report to forward any correspondence to my email from those who have been "Ripped Off" by ASC or Wells Fargo.

I have already formally filed a complaint with the Attorney General's office with the State of Oklahoma; Complaint # CC-11-1196.  They responded 9-16-11.

Interestingly I received a copy of the same letter ASC sent the AG's office in response to my complaint on 9-26-11.   The envelope had a metered post mark of 9-6-11.  I've never had a letter take 20 days to get to me from them before.  More funny business...I didn't think you could hold metered mail??

If you're interested (it's kind of long), here is the letter I sent to the Oklahoma Attorney General:
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 WRONGFUL FORECLOSURE

 My life has been a roller coaster the past couple year and I am just now in a normal state of mind to pursue this issue.  American Servicing Company (ASC) and my mortgage company (whoever that was-?) literally stole my house from me.

 I owned a rental house in Oklahoma that I was planning to move into and use as my homestead.  This home was foreclosed 12/15/08.  The house had been damaged in a storm and had a bad roof leak that damaged the ceilings in three rooms and the carpeting.  My renter didn't tell me of the damage, quit paying rent and stalled me with promises and bad checks for three months while I tried to get her out.  My mortgage payment had gone from $515 to $704 and I got behind not having any rental income.

When the renter moved out and I discovered the storm damage, I filed a claim and the insurance company wrote me a check for $9,200 for damages.  This was enough money to catch up my payments AND make repairs, IF my son (who is a contractor) would be allowed to repair the home. 

I was continually in touch with American Servicing Company-ASC, who said they contacted the mortgage company and got approval to use the insurance money to catch up payments and repair the house. I sent them a copy of the repair bid and insurance check, at their request.  They had agreed to retain the amount to bring the loan current from the $9,200 check and send a check for the balance on the bid sheet for repairs to my sons company.  After I sent the insurance check, I could never reach anyone at ASC who would honor their commitment and no one would respond to my emails or phone calls.  I was told I would get a callbut nothing.

Without the repairs, I could not move into, rent or sell the property and ASC delayed me for months until I could not possibly make up the past due payments, without them honoring the agreement they made with me regarding the insurance money.

At no time did anyone offer any type of program or arrangements for me to keep my home.

 After saying they would work with me, they cashed the check (without my signature), for $9,200 and proceeded to sell the house at sheriff's sale.  They did not use the insurance money to do any repairs to the house and then tried to collect again from my insurance company for the same damages.

Since the insurance check was much more than what I owed in back payments, would someone tell me what right they had to take my house?

I had spent over $25,000 remodeling the house a couple years before and was going to move into this home but of course never got the opportunity.  Again, because of the damage, I couldn't rent it or sell it or live in it until the repairs were made.  I was destroyed financially because of this.  

After the foreclosure my finances just spiraled downward until I was forced into bankruptcy.  I am 65 years old now, living with my daughter in Texas.

The foreclosure papers said U.S. Bank, National Association, but my credit report says Wells Fargo.   ASC is part of Wells Fargo.  Im not sure who the mortgage company was.  I do know ASC was horrible.  They gave my insurance company fits by constantly placing insurance on the house claiming that my insurance had lapsed (it never lapsed) and requiring my insurance company to send proof repeatedly.

 I called my insurance company (Oklahoma Farm Bureau) and complained about ASC cashing my check without my signature and was told they had the right to do that.  Also, the insurance company representative said Oklahoma Farm Bureau didn't care whether they did the repairs or not; but, they did appreciate me letting them know about ASC trying to collect on the same damages again.

 Here is a link to the Congressional Oversight Committee Hearing on foreclosures, in case youre interested. Seems there are many like me. 

 http://www.c-span.org/Events/House-Oversight-Cmte-Hearing-on-Preventing-Foreclosures/18355-1/  (copy and paste in address bar)