Pissed Consumer - American Servicing Company/Wellsfargo (Rip Off & Cruel Company)

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American Servicing Company/Wellsfargo (Rip Off & Cruel Company)

May 31, 2008

American Servicing Company complaint by Wsanjose

My rate adjust this May 2008 and try to negotiate with ripoff ASC since December 2007 and telling me that I should call them back on March 2008 which I did. They ask me to write a letter of hardship and Financial explanation why am I claiming a hardship. They said I have to wait for three months before they could make a decision but I told them that my payments will go up on May 2008. While I was keep on contacting them nobody wants to give me a clear answer on how to help me. And then on April 2008 they just send me a letter that my request for loan modification was denied. I wrote them again to reconsider it and change my Financial statement and make it a little bit better than before. They told me that they will review again my request. denied. I decided not to pay yet my monthly mortgage for May because I was waiting for their response if they would lower down my interest and my monthly payments. On May 25, 2008 I received a letter saying my request for loan modification is again denied. And then three days later since I have a Wellsfargo credit card with them. They just charge my credit card for one month mortgage without even letting me know. Now I will get charge a big interest on this credit card because they wipe out my entire credit limits. This ASC /Wellsfargo has no remorse or very cruel to their client. They don't care if you won't have anything left for you to use. All they want is your money. You should recommend to your friends and co workers to stop using Wellsfargo Bank. This is the only way for you to get even. Now I am stuck with them and don't even know what to do and probably would end up to foreclosure because I cannot afford the increase on my monthly mortgage with them. This company would Rip Off you big time! Don't ever use Wellsfargo again!

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Comments (1)

1. Written by Kevin, on 22-06-2008 08:06

ASC is a nightmare! My mortgage went up by over $300 per month right at the same time I lost a job. After making a late payment we requested a deferral for a couple months until I got into my busy season. I was granted the deferral and was told I should apply for a "loan modification", I agreed as long as the deferral was still in place because we were worried about hits to our credit. We sent the information and a payment on 12/3 and called to confirm receipt and we were supposed to hear back in 30 days. After 2 weeks we made frequent calls (at least 6) to make sure they had what they needed and confirm that we were still in deferral and not being hit with late payments. We were always told we were ok and just wait for a Negotiator to call. The negotiator finally calls on 1/30 (30 days after they were supposed to contact us). The first thing she tells us is our mortgage was placed with an attorney for foreclosure! There only offer was to have my interest rate permanently increased to beyond what I would have been paying 6 months latter and I owed an attorney a $1,000 not to mention they ruined our credit that we were trying to preserve (preventing us from refinancing elsewhere). This only gets worse and still is not settled. ASC is playing games with our attorney and lying through their teeth. Don't ever do business with these scumbags.

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