How could a company be allowed to scam hard working people out of their homes. They post payments late in order to charge late fees. We have been harrassed with foreclosure several times which forced us to file bankruptcy. With all the charges of late fee, we can't take out a second mortage to get a lower payment. They also say that they don't do refinancing. They bought our mortage from Chase without us knowing until the last minute. We have had problems with this company after the first month. Someone should really look into all the scams about this company. We are tryting everything we know how in order to get out from under them.

So, here’s my sad tale about ASC. I wanted to help my son buy a house in March 2006. His credit was poor so the mortgage broker suggested that I get a 2 year arm with a 2 year prepayment penalty mortgage AND after the 2 years get the loan refinanced in my son’s name. Good idea… So early 2008 comes around and the mortgage guy calls telling me that we need to start the process of refinancing in my son’s name. We start the paperwork and when the guy gets the payoff amount, he finds that there is an additional year prepayment penalty! Yes, I signed that at closing even though it was not the loan we discussed. Of course the original mortgage company is out of business but we track down the manager of the funding company (also out of business) and he says that the loan was definitely supposed to have been a 2 yr arm w/ a 2 yr prepayment penalty - not a 3 yr prepayment penalty. So I started calling ASC and they offered absolutely no help - telling me that I signed the paperwork and tough luck. Back to the manager of the funding company, he gets copies of all the closing documents including his handwritten notes to the mortgage company confirming the 2yr/2yr - he sends that to ASC and they still say tough luck. The payment has gone up by almost $600 per month and the kid can’t afford anymore money so Mom (me) gets to pay the extra plus all the taxes and insurance. I can not afford the extra expense - if the creeps at ASC would just refinance the loan to a 30 year at current rates, my son could afford it and ASC could keep the loan. As it is, we are considering letting the house go back to the mortgage company. So many big banks getting bailed out and all I’m asking for is to have a good loan refinanced at current interest rates - without a prepayment penalty of $18, 000.00.

This Company is a mortgage servicing company for Wells Fargo. They are using their position to take advantage of homeowners. Homeowners that contact them for help are lead down a road of shams. People that own homes are not crooks; they are hard working people that have gotten into a dilemma. The problem with America's Servicing Company or (Wells Fargo) is that people for them have become numbers on a balance sheet. These banks go on the news and to the US government and ask for help. But went help is asked of them they offer their back hand. There was a time went people knew the bank manager and they would work out a plan to get things in order. But at last these days are gone. What we have left is a system that has failed us and will lead to more problems for the banks.

after reading these and other complaints on related websites, I can say that none of you understand the commitment you made when you borrowed the money to purchase your home. you are all under the belief that the loan servicing company and/or mortgage lender is required to accept late payments and provide you with options to bring your loan current through payment plans and loan modifications. you need to sit down and read the terms and conditions of your deed of trust. an escrow account can be established if you do not respond to the servicer when they ask for proof of tax payments made or current hazard insurance. they are required by the deed of trust to ensure the integrity of the property. you need to remember, until you make that last payment on the note, you do not own the property. the lender has a right to protect their interest. also, if you are being serviced by ASC, it's because you are considered a high risk, subprime borrower. your credit scores are in the high 500s to low 600s. this is considered poor credit. the bank or lender has every right to protect themselves from default by charging higher interest rates because you have proven in the past that you will default on your obligations. your note states your payments are due (usually) on the 1st day of the month. there is no grace period (again, read your documents) on a mortgage payment. technically, you are in default on the 2nd day of each month if you have not made your payment. the servicer is not required to accept short payments, interest payments, payments of principle and interest if you have an escrow account. you agreed to the terms of the contract when you wanted funding for your home; but once it became inconvenient to make your payments, you start blaming your servicer for all your troubles. I will agree that any large corporation can and does make mistakes, but certainly not at the level these complaints would have you believe. read these complaints, these people admit they are in default, admit they missed payments and admit they wanted ASC to fix their problems. banks do not want your house. it costs more to foreclosure on a property and have to refurbish it and make all payments for taxes and insurance and maintenance while waiting for the property to sell. the bank makes its money when people perform their loans. that is what the interest is for. I'm sure the majority of you chose to take vacations or buy Christmas presents rather than make your mortgage payments on time. or you lost your jobs and expect the servicer to feel sorry for you. banks are not charitable organizations, they're not your mother. if you can't continue to afford your home, sell it or work two jobs or whatever you have to do to satisfy your obligation. stop whining and grow up. and by the way, ASC is a 'doing business as' of Wells Fargo. Wells Fargo did not purchase ASC; ASC is not a division of Wells Fargo; ASC services all subprime loans, not just Wells Fargo originated loans. if you're going to whine and complain about a company, you should at least know what you're talking about.

I refinanced my principal residence in 2004 with Peoples Choice Home Loan, Inc, who promptly turned the servicing over to America's Servicing Company, a division of Wells Fargo Bank. In January 2008, I contacted ASC and requested a loan modification refinance. On January 31, 2008 I was approved. I was to have my $85, 500 ARM rewritten to a 6.2% 30 year fixed starting March 1, 2008, with no payments for January, February and March - until my first payment April 1, 2008, with the interest for the 3 months without payments added to the loan balance.

Now it is the end of June, they have supplied no loan documents, and their attorney (who was supposed to handle the closing on the new loan) now having filed a foreclosure action on behalf of HSBC which has NOTHING to do with my loan, and ASC has added nearly seven thousand dollars to the balance of my old loan!!!

I have rescinded the loan and declared it void and unenforceable, and sued for over 7 million for the racketeering these people are engaging in. I welcome anyone with problems with ASC to contact me and possibly join my lawsuit and seek recovery and damages for their unconscionable fraudulent conduct. I will be glad to furnish you a copy of my lawsuit. I have been in the mortgage business since 1965 and know what they have done wrong and what the remedies are.

Their conduct is an outrage and everyone should seek to recover the injury they have done to you.

I have much information to share! You may call me at 1 800 LOANPRO (562-6776).