• Report: #307844

Complaint Review: Americas Servicing Company, Division Of Wells Fargo

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Sun, February 10, 2008
  • Updated: Mon, November 17, 2008

  • Reported By:Simi Valley California
Americas Servicing Company, Division Of Wells Fargo
mortgageaccountonline.com Des Moines, Iowa U.S.A.

Americas Servicing Company, Division Of Wells Fargo Misled about Loan Modification Time Frame, can anyone help me??? Des Moines Iowa

*Consumer Comment: Question for Tom?

*Consumer Suggestion: Loans and Payment

*Consumer Comment: Please contact me as I have vital information for you!

*Consumer Comment: Please contact me as I have vital information for you!

*Consumer Comment: Please contact me as I have vital information for you!

*Consumer Comment: Please contact me as I have vital information for you!

*Consumer Suggestion: Some consolutation maybe

*Author of original report: Thank You Bob.

*Consumer Comment: Loan Modifications

*Author of original report: Update...

*Author of original report: Update...

*Author of original report: Update...

*Consumer Suggestion: In the same situation

*Consumer Comment: Here's Some Help

*Author of original report: Loss Mitigation response

*Consumer Suggestion: Loss Mitigation

*Consumer Suggestion: Loss Mitigation

*Consumer Comment: America's Servicing Company

*Consumer Comment: America's Servicing Company

*Consumer Comment: America's Servicing Company

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I purchased a house in California in 04 with my fiance'. It was our American Dream to be able to live near our parents and not have to move out of the state as so many we went to school with have done. I wanted our kids to grow up around family.

Two years after the purchase of the hosue my fiance' and I split. I kept the house and did all I could to make the payments and make them on time. I added a roommate to the house and I took a loan from my 401 k to make sure I had money to keep up the payments. I was making a payment of $17xx.xx a month just on my first mortgage alone with ASC. My HELOC is also an adjustable rate so that fluctuates between $600-$800 a month as well.
Again I was making this payment with one roommate and a loan from my 401k.

In Septemeber 07 I received notice saying my interest rate was due to go up in turn making the payment on my first mortgage raise to $24xx.xx a month as of Dec 1st. This is not including my HELOC.

I contacted ASC right away in an attempt to be proactive and discuss my options and/or apply for a refinance to stop this. I was told by a wonderful representative that I could not apply for a refi for this house all by myself bcuz my income to debt ratio was too high. Well of course, I have a loan for a $480,000 (townhouse mind you) by myself!

I understood that and he so nicely explained to me about the Loan Modification process and sent me off to the department handling this issue. Apparently at that time, most of the company was not even aware they had this program because I was tranferred back and forth about 4 times before I finally reached someone who knew that a homeowner (who was being proactive) and not in foreclosure could apply for a loan modification.

Anyway, I was told that I would receive some financial paperwork in the mail and I needed to fill it out and fax it back as soon as possible to start the process. I asked if this paperwork could be faxed to me or emailed to expedite the process but I was told it had to be snail mailed.

I waited patiently and called again in a week when I had not received anything at which time I was told it could take 7-10 business days before I receive it. Again I patiently waited 7-10 and still no paperwork.
I called back again and a very rude woman took my financial information over the phone.

Get this, she made me aware that because with my financial situation, I was not going to be able to even make the new payment and that I did not qualify for the loan modification process. She said that I needed to call back when I could afford the new payment and they could help.

I asked her, "well that's a little oxy moron isnt it? Since I am trying to call in October to TELL you myself that I will not be able to afford to make the payment in hopes that I can get a loan modification to keep my mortgage payment from increasing and you are telling me that because I cannot afford the new $24xx.xx payment amount that will be coming up you CANNOT help me?"
At this time she preceeded to get really rude and became very sarcastic and said that there was nothing she could do and I should've read my loan paperwork. (Up until this I was trying to speak with a little humor and grace while asking for help but that to me was downright rude behavior.)

I explained to her that I have not been late on my payments in the past and she did not need to treat me as if I have done something wrong. I was aware of what my loan paperwork said, and I have worked for a mortgage company before, so I know what they are capable of doing. Hence my reasoning for being proactive. Although when I bought the house I obviously had a different idea on how my life was going to turn out (fiance'). Long story short here, I asked for a supervisor to complain about her to and she told me there wasnt ANY available. She even refused to give me a name or a contact number for her or a supervisor. She let me know 'she could only put me through to another rep.' I asked her to do so, so she put me back through the automated system instead (well there's a shock)

I have not ever received a call from a supervisor to this day 02/10/08. I even left my name and number with another rep asking for one to call me.

So I removed the furniture from every room Iin the house and proceeded to fill them with roommates so I could afford to apply for this loan modification. So now I work full time, go to school to become a ff/medic and have to manage 3 roommates and their monthly payments.
So having done this I filled out the required financial paperwork again and faxed it back to them with a copy of my tax returns, my 401k information and the rental agreements for each room I have rented. I was told that with 3 rooms being rented I have a whole surplus of give or take a little $300 a month and that I qualified for the program. My loan modification would be handed of to a counselor for review. YEAH!

I explained that I was not looking for anything wonderful or special just that my payment not increase come December 1 because I would not be able to afford it if I lost a roommate, car broke down, anything medical took place, gas went back up, etc.

I was informed that the process would take 30-60 days so that I would probably have to make atleast the first payment in December but would probably be okay after that and that I could call back in two weeks to see if anything had been done.

I have called ASC at a rate of almost every two weeks and each time I have been told that my loan modification request has not even been assigned to a counselor yet. As of my call mid January I was told that they were just getting to the people who requested help in Oct/Nov and that I should hear something soon. I am writing this report as of Feb 10, 2008 which means I still have not heard anything.

I was informed the whole process should take 30-60 days from the start and not only was the start of the process delayed from the day 1 because I never received the paperwork the rep 'sent out' but I have now been patiently waiting since Oct/Nov to be referred to a counselor. I have however watched the payment I did NOT want to increase raise approx $600 a month. I am constantly stressed that I will lose a renter or something/anything will happen and I will be forced to let go of the house I have been working so hard to keep.

I am trying and I just feel as though I am getting no where, no one has ever called me for the loan modification ALTHOUGH they do call me approx 3xs within the first 10 days of the month to make sure that my payment will be in on time.

I am just so confused on how this process takeS so long for someone like me who has no special needs for the loan modifIcation. I just want it to be put back to the way it was before.

I have never missed a payment even if I had to borrow money to make it. I have never been 30 days late on my loan before and I was attempting to be proactive by calling them in Sept/Oct to get the process started.
I just have to wonder if they are just sitting back with a small grin collecting my payment and not making my loan a priority because I am not in the foreclosure process nor am I late. Do they look at is as though, 'oh we can wait, she's in no hurry'. Well yes I am, if something happens to one of my roommates, I will be right into foreclosure. I have also been made aware that if I do fall into the late payments/foreclosure processes then I have to start all over again.
If gas goes up, I will lose my house! If the wind blows to hard...I am going to lose my house!!!

I am trying, I am trying as hard as I can to hold onto my dream of having a house in this day and age. But I just dont know what to do anymore. I have trouble sleeping everynight worrying. I do not feel as if there is hope. I do not feel that any of the legislation that is stating there IS help out there is seeing what is really going on.

"Hey Thanks for introducing and passing that bill that states 'help is on the way', is there really anyone out there making sure that happens though????"

I am at a loss and I have no idea what to do anymore. Any help or ideas would be appreciated. Anything...anything at this point is welcome. I cant even imagine that if it is this hard for me what is it like for the people who are missing their payments??? I can't even afford to miss one payment and start all over now, because then I will lost my house. My request should be simple, I have no fees no attorneys involved and no collections of any sort they have to worry about. Its just a matter of putting my interest rate back and printing up new loan documents. I know this because as I said before I used to work for a mortgage company. What I am reuqesting should be the easiest thing that anyone in the loss mitigation department should have to do. They should be looking forward to a loan modification like mine because there is no hard work involved.

PLEASE HELP! ANYONE???

Dag
Simi Valley, California
U.S.A.

Click here to read other Rip Off Reports on Wells Fargo Bank

This report was posted on Ripoff Report on 02/10/2008 06:58 PM and is a permanent record located here: http://www.ripoffreport.com/r/Americas-Servicing-Company-Division-Of-Wells-Fargo/Des-Moines-Iowa-50306/Americas-Servicing-Company-Division-Of-Wells-Fargo-Misled-about-Loan-Modification-Time-Fr-307844. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Americas Servicing Company, Division Of Wells Fargo

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 20Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Question for Tom?

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

Where did you get $480,000 loan at 5%? I didn't see that in any of the OP's posts.

If the OP had an original mortgage paying $17xx per month, and it was scheduled to go up to $24xx, the OP probably had a mortgage somewhere around $275,000 (5% interest rate is too low for one of these mortgages, probably more around 7%).

If the OP is paying a second for $600, that is around a $60,000 loan.

If you live in California like the OP does, a house that cost $335,000 is not that much. Why are you so incredulous?
Respond to this report!
What's this?

#2 Consumer Suggestion

Loans and Payment

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

When I read this ripoff report I was quite amazed. If I understand the facts correctly, the loan amount was $480,000. If the loan were amortized for 30 years at a rate of 5%, the monthly principal and interest payment would be $2,576.74. An increase from $1,7xx.xx to $2,4xx.xx is a GREAT deal. How you ever received a $1,7xx.xx payment is a question to me. If all of your debt were the mortgage payment, to strike the magic 38% of gross income would mean you had to have income of $6,780.90 a month at the payment I calculated.

We know the income I stated above would have to be much higher to qualify becuase you have taxes and insurance in addition to P&I. Add a $600 car payment and the income requirement goes up.

So exactly how much income do you have and wouldn't you expect to loose the home under these circumstances? There is no one out there, myslef, Wells Fargo, or the taxpayer who wants to pay for your mistake and that of Wells Fargo.
Respond to this report!
What's this?

#3 Consumer Comment

Please contact me as I have vital information for you!

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

Hey, anyone involved with these people must know that they are fraudulent as the day is long. We unfortunately became involved and have finally found a great attorney to represent us against them. They have no right to steal peoples homes from them. Somebody needs to put a stop to them right now. Please contact me at: (((ROR REDACTED))) ASAP!!

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.
Respond to this report!
What's this?

#4 Consumer Comment

Please contact me as I have vital information for you!

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

Hey, anyone involved with these people must know that they are fraudulent as the day is long. We unfortunately became involved and have finally found a great attorney to represent us against them. They have no right to steal peoples homes from them. Somebody needs to put a stop to them right now. Please contact me at: (((ROR REDACTED))) ASAP!!

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.
Respond to this report!
What's this?

#5 Consumer Comment

Please contact me as I have vital information for you!

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

Hey, anyone involved with these people must know that they are fraudulent as the day is long. We unfortunately became involved and have finally found a great attorney to represent us against them. They have no right to steal peoples homes from them. Somebody needs to put a stop to them right now. Please contact me at: (((ROR REDACTED))) ASAP!!

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.
Respond to this report!
What's this?

#6 Consumer Comment

Please contact me as I have vital information for you!

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

Hey, anyone involved with these people must know that they are fraudulent as the day is long. We unfortunately became involved and have finally found a great attorney to represent us against them. They have no right to steal peoples homes from them. Somebody needs to put a stop to them right now. Please contact me at: (((ROR REDACTED))) ASAP!!

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.
Respond to this report!
What's this?

#7 Consumer Suggestion

Some consolutation maybe

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

Yeah, my experience in ASC isn't the greatest. My mortgage is about to reset from $2100 to $2600 come April. At the time I got the mortgage I would have been to afford that adjustment but having been laid off and taking a less-paying job - and moving out of state to get it forced me to rent the place because the market wouldn't bear a sale - has left me scrambling for money since I relocated.

Their solution was to refi the mortgage but the option they offered me was almost exactly the same per month than the ARM I have. I looked elsewhere for but there were few affordable options for my (now) investment property even with the rent I collect. I won't be able to qualify for a new mortgage until I get my debt paid down by another $10,000 (debt/income ratio is just over the threshold). So this year will be lean - no vacation, no $50 restaurant meals, no flat panel, and its now regular unleaded instead of premium.

Here's the thing - When I figured out the closing costs and fees for a new loan and annualized that out for the next year (when I project I will be in a better financial position to qualify) it came out to almost exactly what I am about to pay at the higher rate. Furthermore, with rates continuing to come down, my payment will readjust downward in a few months (in fact it already has from the payment that was quoted to me back in February). Mine's indexed on LIBOR.

Personally I've worked too hard to get my credit score out the sewer so I'm willing to suffer the next year or so instead of trying for a quick fix. I'd rather rack up a few thousand dollars on a credit card than watch my credit score plummet 100+ points in an attempt to get a modification (which guaranteed anyway). But that's me and that may not be option for you.

The consolation to you is that it's possible your payment will go down depending on how your original loan is structured and that in the long run it might have cost you more to refi than it will be to stick it out until you can get back on your feet. I realize your situation seems much problematic than mine but the roommate idea, while not ideal, is a solution that is working out for the short term.

My advice is this - become friends with a mortgage broker. And by friends I mean someone you can trust to look out for your best interest (ideally someone local). Your situation will probably not change much over the next several months but mortgage offerings are changing all the time. A broker friend can keep an eye out for offerings that come along for which you can qualify and give you a head's up.

I've had sleepless nights too wondering how the heck I was going to make this work but I decided I'd rather be inconvenienced and made uncomfortable now rather than suffer later. In the end property is always a great investment. Good luck.
Respond to this report!
What's this?

#8 Author of original report

Thank You Bob.

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

Thank you for your reply and what you had to say. I find your response to helpful and understanding.

In response to you, I do not feel the mortgage company was obligated to change my rate. I was aware my rate was going to go up, having read the original the loan paperwork. I initially called my servicing company in request to refinance.
The Loan Modification process was actually recommended to me by the same rep who advised me the process takes 30-60 days.
I knew there was such a thing (as LM), but I wasnt aware of the changing guidelines or criteria to qualify since the mortgage crisis.
I would have never requested one on my own as I did not think I would qualify, having not been late on my payments in the past.

I do not pat myself on the back for having ended up in this situation, only as to have taken my time to search, investigate and educate myself on what is available and how to work things out before they get bad.
I am one who can honestly come to the board and say that I have done my research so that everyone can be aware that I am not claiming a falsehood based on a lack of knowledge for my situation. (I hope that makes sense)

In working for a mortgage company in the past I know what claims can come about and how a mojority of them can tend to stem from a lack of knowledge or education on the H/O part at times...


Anyway thank you for the answer about the time frame and your opinion...
And thank you for providing your advice in a respectful manner. That is greatly appreciated.


Respond to this report!
What's this?

#9 Consumer Comment

Loan Modifications

AUTHOR: Bob Pace - (U.S.A.)

You may have worked for a mortgage company, but clearly not for a servicing company that services subprime loans. For every guy like you theres hundreds of thousands more. While you may be somewhat financially responsible and doing the right thing, thats what you are supposed to be doing. It feels as if you are patting yourself on the back for doing what it takes to meet your mortgage commitment.

I would imagine that your note clearly states that at no time does your servicing company have to refinance your loan, defer payment or renegotiate the terms of the note at any time. Granted, you personally have not made any claims that you were misinformed about the arm, but so many claim to have been "told it was a fixed rate" but in bold letters on the most important part of the entire closing process it states THIS IS AN ADJUSTABLE RATE MORTGAGE. Most notes tend to be 3-4 pages, 7 max.

While filled with some jargon, the interest portion is the easiest part to understand regardless of whether your a loan officer or janitor. For those reasons alone I don't know why you feel as if the company/investors owe it to you to modify your loan at a lower rate of interest than you could have qualified for at the time you took the loan out.

Now with all that said, heres the answer to your question:

Why does it take so long to complete the modification process?

Like I said in the first paragraph, its not just you, there are thousands and thousands of people in a similar situation. There is only so much manpower. Not only that, but its not the servicing companys decision to approve your modification, its based on the investors guidelines and that decision could take a long time to get. Because like I said, its not only you, its ALOT of folks. Sure they should be more upfront about the timelines but I would imagine they are overloaded with work considering the amount of homes in these circumstances.
Respond to this report!
What's this?

#10 Author of original report

Update...

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

I have since received a call from a counselor at ASC who said she is willing to help and do all she can.

I will update you further as the process goes on.


And just to adress BJ, you may want to read the whole post next time before you decide to comment. As I clearly stated in my post, I FILLED the home with roommates AFTER MY INTEREST RATE WENT UP IN DECEMBER. Before that I only had one. and why not when in a 4 bedroom house all by myself?? (Which is really none of your busniess anyway)
I have OWNED the house since 04 and been MAKING MY PAYMENTS ON TIME EVERY MONTH since I have owned the house. I have no intention of selling or taking advice from anyone who clearly has 'no real' advice to offer.
I have not asked for anything other than for my interest rate to be put back to its original rate. which is a payment I CAN afford. and lst I checked, so is half the country right now.

Clearly BJ, you have no idea what you are talking about and should not even bother to post on a site like this if you cannot actually give any useful advice to the people who really do have any troubles.
You are helping no one and your advice is rude, undecuated and uncalled for. They come here for help and get people like you.
That is just sad. I'm willing to bet you work at one of these places.
its okay though. for the money they pay and the way they cattle you, I'd be a bitter person too!
Makes me think you are just a troll who scrolls websites to harass posters with questions because you have nothing better to do.
Is it your thing to troll websites and harass people who are trying to hold onto their american dream?
Really if you dont have anything nice to say, or maybe even some real advice then please dont bother.
I'm okay with your ignorance, but coming here to poor salt on 'unsuspecting' peoples wounds in just flat out evil.
these people come here because they are at a loss of what to do. They have real problems and are trying to fix them. They are looking for real advice and a little education, so unless you have any 'real education' to offer them then go find a hobby.
They arent just trying to complain your ear off. Do you think all the others want to be in a place of losing their house, really?
Not that I'm wishing for it, but maybe, just maybe one day you will fall privy to something that causes you a hardship. Then you may understand what some of these people are going through and can show some compassion.
Apparently not all can live in the perfect bubble you do...So give them a break. the last thing they need is you with your useless advice.


And yes, I did work for a mortgage company, so I know what I need to do and exactly what I am looking for. If you'll notice my complaint was only that the time frame they informed me of had passes and nothing else.
So obviously I have more of a clue about what to do in this situation then you do since your only real advice is to sell. and I'm now working with someone to keep my house.

To everyone else out there, please dont listen to people like that. They are just trolls. they have no real advice, they either work for a mortgage company and feel that it is okay to pick on people who 'are' unknowing about their loan. (as if they knew anything about loans before they worked for a mortgage company). or they are just going to try and get you to sell so they can purchase your house before you foreclose.
just do yourself a favor. do all the investigating you can and find out what is available out there.
Many places are trying to help out homeowners these days. And If you having a real problem with certain reps, write to or call the 'obudsman' or the 'office of the president' for your mortgage company.
Most times its just a breakdown in communication, rude overworked/underpaid reps with attitude (Sometimes after these reps take 100 calls a day with the same questions asked over and over agian they tend to lose all compassion after a few months on the job.), and/or miscommunications.
I must say only 1 out of every 5 reps I have gotten is horrible. the other 4 are great. so just hang up and call back and get the better educated rep. It usually pays off. they're more willing and apt to help.

Good Luck to all.

I will keep you posted...
Respond to this report!
What's this?

#11 Author of original report

Update...

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

I have since received a call from a counselor at ASC who said she is willing to help and do all she can.

I will update you further as the process goes on.


And just to adress BJ, you may want to read the whole post next time before you decide to comment. As I clearly stated in my post, I FILLED the home with roommates AFTER MY INTEREST RATE WENT UP IN DECEMBER. Before that I only had one. and why not when in a 4 bedroom house all by myself?? (Which is really none of your busniess anyway)
I have OWNED the house since 04 and been MAKING MY PAYMENTS ON TIME EVERY MONTH since I have owned the house. I have no intention of selling or taking advice from anyone who clearly has 'no real' advice to offer.
I have not asked for anything other than for my interest rate to be put back to its original rate. which is a payment I CAN afford. and lst I checked, so is half the country right now.

Clearly BJ, you have no idea what you are talking about and should not even bother to post on a site like this if you cannot actually give any useful advice to the people who really do have any troubles.
You are helping no one and your advice is rude, undecuated and uncalled for. They come here for help and get people like you.
That is just sad. I'm willing to bet you work at one of these places.
its okay though. for the money they pay and the way they cattle you, I'd be a bitter person too!
Makes me think you are just a troll who scrolls websites to harass posters with questions because you have nothing better to do.
Is it your thing to troll websites and harass people who are trying to hold onto their american dream?
Really if you dont have anything nice to say, or maybe even some real advice then please dont bother.
I'm okay with your ignorance, but coming here to poor salt on 'unsuspecting' peoples wounds in just flat out evil.
these people come here because they are at a loss of what to do. They have real problems and are trying to fix them. They are looking for real advice and a little education, so unless you have any 'real education' to offer them then go find a hobby.
They arent just trying to complain your ear off. Do you think all the others want to be in a place of losing their house, really?
Not that I'm wishing for it, but maybe, just maybe one day you will fall privy to something that causes you a hardship. Then you may understand what some of these people are going through and can show some compassion.
Apparently not all can live in the perfect bubble you do...So give them a break. the last thing they need is you with your useless advice.


And yes, I did work for a mortgage company, so I know what I need to do and exactly what I am looking for. If you'll notice my complaint was only that the time frame they informed me of had passes and nothing else.
So obviously I have more of a clue about what to do in this situation then you do since your only real advice is to sell. and I'm now working with someone to keep my house.

To everyone else out there, please dont listen to people like that. They are just trolls. they have no real advice, they either work for a mortgage company and feel that it is okay to pick on people who 'are' unknowing about their loan. (as if they knew anything about loans before they worked for a mortgage company). or they are just going to try and get you to sell so they can purchase your house before you foreclose.
just do yourself a favor. do all the investigating you can and find out what is available out there.
Many places are trying to help out homeowners these days. And If you having a real problem with certain reps, write to or call the 'obudsman' or the 'office of the president' for your mortgage company.
Most times its just a breakdown in communication, rude overworked/underpaid reps with attitude (Sometimes after these reps take 100 calls a day with the same questions asked over and over agian they tend to lose all compassion after a few months on the job.), and/or miscommunications.
I must say only 1 out of every 5 reps I have gotten is horrible. the other 4 are great. so just hang up and call back and get the better educated rep. It usually pays off. they're more willing and apt to help.

Good Luck to all.

I will keep you posted...
Respond to this report!
What's this?

#12 Author of original report

Update...

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

I have since received a call from a counselor at ASC who said she is willing to help and do all she can.

I will update you further as the process goes on.


And just to adress BJ, you may want to read the whole post next time before you decide to comment. As I clearly stated in my post, I FILLED the home with roommates AFTER MY INTEREST RATE WENT UP IN DECEMBER. Before that I only had one. and why not when in a 4 bedroom house all by myself?? (Which is really none of your busniess anyway)
I have OWNED the house since 04 and been MAKING MY PAYMENTS ON TIME EVERY MONTH since I have owned the house. I have no intention of selling or taking advice from anyone who clearly has 'no real' advice to offer.
I have not asked for anything other than for my interest rate to be put back to its original rate. which is a payment I CAN afford. and lst I checked, so is half the country right now.

Clearly BJ, you have no idea what you are talking about and should not even bother to post on a site like this if you cannot actually give any useful advice to the people who really do have any troubles.
You are helping no one and your advice is rude, undecuated and uncalled for. They come here for help and get people like you.
That is just sad. I'm willing to bet you work at one of these places.
its okay though. for the money they pay and the way they cattle you, I'd be a bitter person too!
Makes me think you are just a troll who scrolls websites to harass posters with questions because you have nothing better to do.
Is it your thing to troll websites and harass people who are trying to hold onto their american dream?
Really if you dont have anything nice to say, or maybe even some real advice then please dont bother.
I'm okay with your ignorance, but coming here to poor salt on 'unsuspecting' peoples wounds in just flat out evil.
these people come here because they are at a loss of what to do. They have real problems and are trying to fix them. They are looking for real advice and a little education, so unless you have any 'real education' to offer them then go find a hobby.
They arent just trying to complain your ear off. Do you think all the others want to be in a place of losing their house, really?
Not that I'm wishing for it, but maybe, just maybe one day you will fall privy to something that causes you a hardship. Then you may understand what some of these people are going through and can show some compassion.
Apparently not all can live in the perfect bubble you do...So give them a break. the last thing they need is you with your useless advice.


And yes, I did work for a mortgage company, so I know what I need to do and exactly what I am looking for. If you'll notice my complaint was only that the time frame they informed me of had passes and nothing else.
So obviously I have more of a clue about what to do in this situation then you do since your only real advice is to sell. and I'm now working with someone to keep my house.

To everyone else out there, please dont listen to people like that. They are just trolls. they have no real advice, they either work for a mortgage company and feel that it is okay to pick on people who 'are' unknowing about their loan. (as if they knew anything about loans before they worked for a mortgage company). or they are just going to try and get you to sell so they can purchase your house before you foreclose.
just do yourself a favor. do all the investigating you can and find out what is available out there.
Many places are trying to help out homeowners these days. And If you having a real problem with certain reps, write to or call the 'obudsman' or the 'office of the president' for your mortgage company.
Most times its just a breakdown in communication, rude overworked/underpaid reps with attitude (Sometimes after these reps take 100 calls a day with the same questions asked over and over agian they tend to lose all compassion after a few months on the job.), and/or miscommunications.
I must say only 1 out of every 5 reps I have gotten is horrible. the other 4 are great. so just hang up and call back and get the better educated rep. It usually pays off. they're more willing and apt to help.

Good Luck to all.

I will keep you posted...
Respond to this report!
What's this?

#13 Consumer Suggestion

In the same situation

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

Fight them now!!! I am taking them to court. I know I am in New York, But contact Giacona Law Offices in Auburn N.Y. He is am amazing attorney who will help you. Tell him your having trouble with ASC and you'll see he's been down this road before. Good Luck!!!!
Respond to this report!
What's this?

#14 Consumer Comment

Here's Some Help

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

Get rid of the house. You obviously cannot afford it. The previous poster was right. The fact that you must have multiple roommates even before ASC will consider you for a loan modification should be your first clue. Also, IMO if you do indeed have experience in the mortgage industry, then I think I'm finally beginning to understand what went wrong there.
Respond to this report!
What's this?

#15 Author of original report

Loss Mitigation response

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

Maybe you missed the part where I said I used to work for a mortgage company. I am aware of the processes available and I did say that I am 'in the process' of doing a loan modification, and I am current on my payments. They do have programs for people in my situation these days. You just have to do your research to find out what is out there as far as help.
I AM NOT GOING TO SELL MY HOUSE. What kind of advice is that??? I already made it clear that I am quite educated in what I am looking for.
From the advice you are giving me it sounds as though you are not.
For anyone who is in my situation, do not take advice like this. Next thing you know I'll be getting an offer from this person to buy my house.

I do not want to sell my house anymore than they want to have my house. I did not purchase more house than I can handle. The fact is that my life changed. And as I said above, even then I was able to afford my house until my interest rate and mortgage payment went up.
And if you know anything about the market right now you would know that selling is the worst thing I could possibly do.
I contacted my mortgage company in their due time frame to get this worked out as I was informed. My only complaint is that it is not being handled in the timely manner I was informed.
I have also worked for many a credit companies so I am aware of what can happen to my credit. Again another reason I contacted the mortgage company proactively.

I'm sorry but I dont find your advice to be to helpful to my situation at hand....


Signed,
Dag (original poster)
Respond to this report!
What's this?

#16 Consumer Suggestion

Loss Mitigation

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

I'm sorry about your dilemma. Honestly, the best bet is selling, but I realize the market STINKS right now. Lesson number one here, never buy more house than can be afforded on ONE income. Then you wouldn't be in this situation right now. However, you are in this situation and that is tough. You need to cut out any non-essentials now, if you haven't already. Cable, internet, etc. are things you do not need. Turn your thermostat down even one degree and that helps.

Also understand that a loan modification is one of many loss mitigation solutions. I had heard that America's servicing didn't service FHA loans, but if they do now, then loss mit is an option. You have to be behind to qualify for loss mit. So if you think you are about to get behind, they can't do a thing to help you until you ARE behind. This sucks in a huge way because you don't want your credit to take a hit, and to get on the loss mit programs, your credit WILL take a hit. Not only that, if they do a forebearance, your credit will really get slammed. Please keep in mind that you do not get to request your plan. The loss mit department determines your plan based on multiple factors. They have a work sheet they do. If you have an FHA loan, you can call HUD too, to see what options there are.
Respond to this report!
What's this?

#17 Consumer Suggestion

Loss Mitigation

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

I'm sorry about your dilemma. Honestly, the best bet is selling, but I realize the market STINKS right now. Lesson number one here, never buy more house than can be afforded on ONE income. Then you wouldn't be in this situation right now. However, you are in this situation and that is tough. You need to cut out any non-essentials now, if you haven't already. Cable, internet, etc. are things you do not need. Turn your thermostat down even one degree and that helps.

Also understand that a loan modification is one of many loss mitigation solutions. I had heard that America's servicing didn't service FHA loans, but if they do now, then loss mit is an option. You have to be behind to qualify for loss mit. So if you think you are about to get behind, they can't do a thing to help you until you ARE behind. This sucks in a huge way because you don't want your credit to take a hit, and to get on the loss mit programs, your credit WILL take a hit. Not only that, if they do a forebearance, your credit will really get slammed. Please keep in mind that you do not get to request your plan. The loss mit department determines your plan based on multiple factors. They have a work sheet they do. If you have an FHA loan, you can call HUD too, to see what options there are.
Respond to this report!
What's this?

#18 Consumer Comment

America's Servicing Company

AUTHOR: Happy Camper - (U.S.A.)

Sorry to hear about your frustration w/ ASC regarding the modification. First of all, I learned something from your report. I wasn't aware that a modification was possible unless you were in default.But having said that, I started my modification process back in September of '07. It was not finalised until just a coule weeks ago for the February payment. It DOES take some time. Mind you, the modification department probably is not euipped to handle the amount of inquiries. I don't think anybody forecasted the mortgage crisis. I'll tell you this, they do not want your house. From my experience, they worked with me far and beyond what was expected of them. You wanna know why?? They do NOT want our houses. Hang in there and be patient.

Here is a direct ph. number for a negotiator that worked directly with me. She didn't always return my calls in the same day, but usually she did. When she failed to return the same day, she would call 1st thing the next day. And get this, sometimes she answers the phone herself!!! lol. She was wonderful and helped me big time. Maybe she's not assigned to your case but she may be able to direct you to the proper channel. You want to find out the negotiator assigned to your case. The girl who helped me is Lequisha (sp??) Smallwood (((ROR redacted))) Good Luck Dag.
Respond to this report!
What's this?

#19 Consumer Comment

America's Servicing Company

AUTHOR: Happy Camper - (U.S.A.)

Sorry to hear about your frustration w/ ASC regarding the modification. First of all, I learned something from your report. I wasn't aware that a modification was possible unless you were in default.But having said that, I started my modification process back in September of '07. It was not finalised until just a coule weeks ago for the February payment. It DOES take some time. Mind you, the modification department probably is not euipped to handle the amount of inquiries. I don't think anybody forecasted the mortgage crisis. I'll tell you this, they do not want your house. From my experience, they worked with me far and beyond what was expected of them. You wanna know why?? They do NOT want our houses. Hang in there and be patient.

Here is a direct ph. number for a negotiator that worked directly with me. She didn't always return my calls in the same day, but usually she did. When she failed to return the same day, she would call 1st thing the next day. And get this, sometimes she answers the phone herself!!! lol. She was wonderful and helped me big time. Maybe she's not assigned to your case but she may be able to direct you to the proper channel. You want to find out the negotiator assigned to your case. The girl who helped me is Lequisha (sp??) Smallwood (((ROR redacted))) Good Luck Dag.
Respond to this report!
What's this?

#20 Consumer Comment

America's Servicing Company

AUTHOR: Happy Camper - (U.S.A.)

Sorry to hear about your frustration w/ ASC regarding the modification. First of all, I learned something from your report. I wasn't aware that a modification was possible unless you were in default.But having said that, I started my modification process back in September of '07. It was not finalised until just a coule weeks ago for the February payment. It DOES take some time. Mind you, the modification department probably is not euipped to handle the amount of inquiries. I don't think anybody forecasted the mortgage crisis. I'll tell you this, they do not want your house. From my experience, they worked with me far and beyond what was expected of them. You wanna know why?? They do NOT want our houses. Hang in there and be patient.

Here is a direct ph. number for a negotiator that worked directly with me. She didn't always return my calls in the same day, but usually she did. When she failed to return the same day, she would call 1st thing the next day. And get this, sometimes she answers the phone herself!!! lol. She was wonderful and helped me big time. Maybe she's not assigned to your case but she may be able to direct you to the proper channel. You want to find out the negotiator assigned to your case. The girl who helped me is Lequisha (sp??) Smallwood (((ROR redacted))) Good Luck Dag.
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory