I lost my job and fell behind for a while. We did everything ASC asked of us, made all our payments so we could modify our loan. During this time, we received a letter stating ASC would freeze our interest rate to 7% because of the economy. We finally get our loan modification paperwork, and the interest rate is higher than our original fixed rate, plus our loan balance jumped 100k. In addition, we have a prepay for LIFE, have to ask their permission to SELL (not just short sale, we actually have a lot of equity), and our payment has increased by over $1, 000 a month. I asked how are you helping us? The rep said WE REPRESENT THE INVESTOR, not YOU. I asked how she could justify the increase? She (Erma) replied because you have an excess of $2, 000/month according to your financial statement so you can pay more. So basically, because ASC got ripped off by ARM debtors, it thinks it can screw us because we can actually afford our payments? I have contacted an attorney who told me he is representing 10 other clients with ASC and they are the worse and corrupt and it goes all the way to the top. He said I should save money and sue. He said ASC needs to be sued big time. This company ***.

Americas servicing Company (ASC) lost two of my mortgage payment checks AFTER CASHING THEM and claimed for months that I did not make the payments even though my bank sent them copies of the checks showing them paid. ASC threatened to foreclose unless I accepted a forebearance agreement and paid those same checks again. I accepted and paid the agreement off several months early. They are still claiming that they were not paid on the original two checks. I complained to the Texas Attorney General and filed criminal charges against them. I won and got some money back. Now ASC hates me! Yeah for me!

ASC then deposited into my bank account three payments without my knowledge or concent and is attemptin to foreclose based on me now being three payments behind. They have refused to take thier money back. This is bank wire fraud according to my bank manager. I will again file criminal charges against them this week.

I asked ASC over the phone to point out where on my note it allowed them to do this. I was told that notes are complicated and that I would not understand it even if they pointed it out to me. I explained to them that I am a mortgage banker and an expert in notes so go ahead and point it out. They promptly hung up. They are nothing but an organized crime racket.

The Texas Attorney General wants all information on this company! Those of you in Texas start documenting everthing, especially ASC's illegal activity regarding thier 'drive-by fee' if you are late. ASC was ordered by the Texas Attorney General to cease and desist collecting this fee and to return it to Texas customers. Document everything. This company must be put out of business and it's corporate officers must go to jail!

People in other states: Check with your Attorney General. 37 of 50 state Attorney Generals have criminal investigations currently underway against ASC. Get involved and help your AG by documenting everything and offer evidence to your AG against ASC! Take these scums to the mat!

Lets get a class action lawsuit going! This company breaks every law that there is and must be stopped. A multi-million dollar lawsuit ought to get thier attention.

Anybody have a lawyer already doing this?

I have resolved my problems with ASC, although they should still be shot for their fraudulent practices. Right after they purchased my loan, my check that I mailed on time was not credited until after the late payment day. Then, they increased my mortgage payment by $700 per month for an escrow shortage of $900! I reported them to the FTC, to no avail, but somehow I paid the extra $700 until I could convince them that I was serious about suing, and I now pay ALWAYS through the online banking from my bank so they can never hold my check again! This company has no integrity and they are scum, oh, and their customer service people are rude and STUPID!

A frustratingly difficult company to deal with – impossible to talk to anyone other than incompetent lowly paid service reps. The terms of our original loan were horrible. After two years, (just after the loan was purchased by ASC), our monthly payments jumped up by 800 per month. This resulted in a monthly payment well outside of what we can handle. The plan was to simply re-finance after two years, but because of the current market, we have been unable to do so.

I assumed ASC would be willing to work with us and help put the loan back to where it was for the first two years in terms of interest rate. They would not, and now we are moving into the deed in lieu process. I’m sure ASC will end up loosing out in the end, but they just don’t seem to care, or don’t have the competence or internal structure to avoid it. Frustrating!!

Wow! Didn’t know there were that many out there having the same issue with ASC. We, just like the rest of you, started our loan modification well in advance so that when it came time our modification request should have been handled. Of course when we started calling about the progress we were informed that all we sent in was out dated, since they sat on it for 3 months.

We went ahead and sent everything in again and in the meantime we were told NOT to make a payment if we couldn't make the new payment. I was told that late charges would not incur nor would it be reported to the credit bureaus. I have since then re-faxed our information 2 more times and was told they were expediting our request and would soon be assigned to someone. Calling again and again... We were also told to make some kind of payment and we were never going to be assigned to anyone.

Well to no avail I still tried one more time after waiting again for the time line to pass only to find out that our file was closed. I believe that if I could walk into the office my concern and want to have a house over our 2 and 4 year old children might actually sink into someone’s brain.

We have not had a single mark, late, or default on our loan and apparently means nothing. Maybe we should all get together for a class action suit!!!