In December of 05, we were one of the unlucky people who had no other alternative but to be considered a subprime candidate for our mortgage. Not because we don't pay our bills but because we lost or home from a hurricane in 04 and both were realtors. We had to relocate to start up business again..yada yada yada and we living off of credit cards(close to the limit). We bought a home and had a interest rate @ 8.49% with a 2 year penalty clause. We figured we could do our time, pay our dues(bills) and in 2 years refi. Who knew the market would do what it did? At the end of the 2 year period, we were aware our interest rate would increase to 11.49%!!! With everything happening with credit crunch, as well as the bottom falling out of RE, we contacted our mortgage company, American Servicing, to freeze our interest rate. To our surprise, they said that they would not freeze it but we could apply for a modification. Great! even better! Every week, we called to see if they had everything they needed and if there was an answer yet, and everyweek we got the same response, it is still is under review, someone will contact you. January payment was made at the increase interest payment, but by this time we were wondering if we would get any response, so February's payment was due and we decided to NOT pay. They always seem to call you for their money. Being that this was the FIRST time, that we were 30 days past due, we recevieved our answer. NO, you don't qualify for a modification! and it was a generic letter at that!!!Ironically, it came just as our payment went 30 days late. My husband called for 2 days straight, only to get the runaround and be passed from person to person to person. Apparently the fact that we have already paid them $48, 000 in interest alone for the past 2 years, and the fact we were never late, did not matter. The only thing that did matter was "our income was not enough". What????? it was enough to pay you at 8.49%, but now @ 11.49% it isn't??? Basically we were told that we would be foreclosed on if we did not pay them their 11.49% INTEREST, and it would go up again in another 6 months, so good luck! Here is the worst part about the whole deal, OUR ORIGINAL MORTGAGE WAS NOT EVEN WITH THEM, THEY BOUGHT 6 MONTHS INTO OUR MORTGAGE FROM THE COMPANY THAT OUR MORTGAGE WAS WITH, DECISION 1!!!This company does not care about the economics of our country or even the homeowners that are wanting to pay at a reasonable rate! Greed, Greed, Greed, it will bring you down, no matter how big you are! Just so you know American Servicing Co. The pen(e-mail) is mighter than the sword, and I will not stop until I get some kind of justice!