We moved here 3 1/2 years ago when hurricane Ivan took our home and basically destroyed our market in Orange Beach, Al. When we were forced to relocate, we had to use our savings along with our credit cards to keep afloat until we were able to establish our business and start over. We were considered a subprime candidate and had no other option but to take what we could get. We were given a mortgage with 20% down and a 8.49% with a 2 year prepayment penalty clause. After that we were aware our interest would increase to 11.49%, but we felt that we could refinance the home after our 2 years. The market fell out during this time and we had no other option but to contact our mortgage company and asked that they freeze our interest rate this past December before our interest rate was to increase in January. We were told by ASC that they DO NOT do freezes but we could apply for a loan modification. So we did. After waiting weeks for someone to call as we were told they would, we began calling them. We continued to get the same story...someone will contact you, we have everything we need, just wait. So when the increased payment came in January, we paid it. When February's payment came around, we had yet to hear back while we continued to call on a weekly basis only to be told the same thing. We decided that we would not pay February and yes this was the first time in 2 years we were late on our payment! We received a generic letter in the mail stating that we were denied! When we called to find out why, we were told that WE COULD NOT AFFORD THE HOME!! Wow...what a shock, we have paid this company $48,000 in interest payments alone, never late and now we were being told we could not afford it. Now here is the real shocker....they had told us that our account had been turned over to "property liquidation". As you can imagine, we were in shock! We were only 30 days late and they were already starting foreclosure proceedings. We immediately told them that we had never implied that we were walking away from our home and we are totally surprised by this. We were then told that we could re apply again for a loan modication to send in all the paperwork in again. So again we started the process over. Again, no one would call us back and meanwhile we paid February and March payments to the sum of over $7,000.00 to include late fees and penalties. April rolls around and again, no news! Finally when our April payment went late, they call! Not to tell us any news about our loan modification but wanting to know where their money was. That was when we got the news that we were turned down for a loan modification because we had not sent in a P&L statement. Okay, both me and my husband are realtors and we understand what a P&L statement is and neither of us own a business so we don't have P&L statements. We were never told that we needed to submit a P&L statement, afterall, we were not asked for one the first time around. Then we get a letter in the mail stating that if we don't pay $10,332.33 by July 15th. they will start the foreclosure proceedings!!!
I have been researching on the internet and came across this website (((Redacted))), and was shocked of the homeowners that have had illegal fees charged to them as well as ILLEGAL FORECLOSURES!!! I have now filed a complaint with The Federal Trade Commission as well as our state Attorney General's office. I have also sent a letter to our state senators about the travesty that this company is doing to homeowners. I am suggesting that anyone reading this that if they have had any bad experience with ASC to immediately file a complaint with the Federal Trade Commission @ www.ftc.gov and then go www.senate.gov and www.house.gov to find your state representative and state Attorney General's office and file complaints as well. They HAVE to keep a record of ALL complaints and ACT on them. Afterall, we put them in office to protect us and fight for our rights from Corporate America companies like Wells Fargo dba ASC trying to take advantage of the little people...who keep this county afloat! I am willing to join the band wagon for any class action suit against this company with any attorney out there that wants to file a suit!!!
Port Orange, Florida
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