Wow, I too have had the same experience with ASC...however, for me It has been on going since November of 2006! I made all of my mortgage payments to ASC via telephone. While making a payment by phone, the automated phone answering service offered advice that my adjustable rate mortgage would be adjusting upward soon as I was at the end of my ( interest only mortgage ) 2 year arm. In an effort to avoid the hike in interest rate, I followed this procedure and spoke with a rep. from ASC about possible programs. " Tiffany" explained that a loan modification or refinance was in perfect order for me as my loan would adjust in December 2006. As many of you had, I too filled out the proper financial statements and faxed all necessary forms to their modification department. I was told to check in with them by January 4th, 2007, because this process takes 30-60 days minimum. I followed up by doing exactly as told. I made the call as instructed and I also received the " everything is going as usual and is in review, however we are so backed up you will need to contact us in the next 30 days." I followed up with ASC weekly as I knew that my mortgage would be adjusting as I waited for an answer on refinancing or modification. I also inquired with ASC about continuing to send payments and was instructed to hang on to the payments, and that when a modification was approved, I would need to make "commitment" payments. I did as instructed. I made the commitment payment as instructed also. I called weekly and made sure that whoever the rep. was would also note my file as to my follow up with them. I did this until MAY 2007 when a verdict was finally reached. 2 things failed my attempt at modification. The market value of my home dropped as millions have and my debt to income ratio was too high, therefore, I was DENIED the attempt. I waited 6 months on their request, for them to HELP me, only to be denied. I was told again, that they could re-file my financial information to see if enough had changed from the previous attempt to complete a modification at this point...
At this point I'd been through 8 months of waiting and 2 loan modification attempts. The second denial came in August 2007 for the same reasons as listed above. At the end of August 2007, I received the legal notification from a local law firm, that I too had fallen into FORECLOSURE!! I was not told this by ASC, but in fact, found out by a letter taped to my door from a law firm! I directly contacted ASC only to find out that I was in fact in " Active Foreclosure" and that I would be receiving documentation from ASC explaining the options. I soon learned that another modification attempt would at least postpone the foreclosure and any further sherriff auction attempts! And again, I submitted new financial info. and proceeded with a modification attemp.
By the middle of 2008, I had been through 4 modification attempts, only to be denied on all accounts! I was told in August 2008, that I would need to vacate the home by September 9th, 2008 due to sheriff sale and that if the house were sold in this auction, that would be my drop dead date to remove my belongings...Sadly, I moved my whole family to my mother n laws home based on their request. The home was winterized by their company and locked up with pad locks in October, 2008 WITHOUT THE SALE OF THE HOME!! I was given wrong information by the foreclosure department at ASC! I never had to move!! I battled with ASC for the next few winter months as the new H4H ( hope for homeowners) program was released. I learned of the program by doing some research and it seemed as if I fit the mold for criteria required to qualify. I contacted ASC in February 2009 to start the ball rolling toward H4H program releif. This process would also require " QUALIFICATION" through ASC. Once again, here I was sending in financial's and hardship letters as I had 5 previous times! I was told by the ASC rep. that my account had been "flagged" for approval and that we should be in good standing for this program. A few weeks went by, when I made contact with ASC about the program. By this time is was March, 2009 and I had been out of the house for 6 months. They idicated to me that in order to honor the H4H program, I would need to occupy the residence. I soon moved my family back into the property in which I was trying so desperately to save and by April 2009, we were in and just waiting for the final approval letter to surface. I continued weekly and in some cases daily, to contact ASC as time was certainly of the essence. I was notified in April, 2009, that the H4H program had been "put on hold" and that there was no chance that I would qualify for the program. ALL OF THIS MOVING INTO AND OUT OF THE HOME FOR WHAT???? I let no time elapse and started to look for other programs to help. This is when I encountered the "Making Home Affordable Program" which was described by an ASC foreclosure rep., as a "revised version" of the H4H program that I had already applied for. This makes for modification attempt number 6!! I communicated with ASC often as I had put so much effort and energy into saving the home including, moving out of and back into the residence that they came back to me with a DENIAL in less than 30 days... I was also notified by ASC that there were 3 options available to me...
1. Admit Foreclosure
2. Shortsale of property
3. Deed in lieu of foreclosure ( which was denied)
I wasn't ready to admit foreclosure as it seemed to easy to roll off of their snake like toungues. They denied me of the deed in lieu of foreclosure option so that left me with 1 choice...I listed the home up for sale with a major real-estate firm in September, 2009 after a 7th modification attempt was denied. Just a little bit of humor in this all, the last rep. that I dealt with on the final modification attempt asked me in an attempt to increase my income or lower my debt to income ratio, to either get another job ( because there are so many out there) or cut things like "groceries and gas for my vehicles " which I need to support my wife and 2 small children...GREAT IDEA! I received 2 offers on the home in December 2009 and wasted no time submitting them to ASC. I fullfilled my obligation based on their request to attempt a shortsale of the home and guess what I received...a call from my realtor stating that ASC would like a new copy of financial information. This request came to me on January 14th, 2010 just 10 days after my newborn baby had arrived...and more than 3 years of trying to deal with a ridiculous, disorganized, disfunctional, BRUTALLY SLOW, manipulative and irresponcible company...They saw what the "fair market value " of the home is and what it sold for and all of the sudden became concerned and want to work out a solution...I don't think so...I think it's time for them to feel the pressure that I've dealt with. If they refuse the 2 shortsale offers, I'm fully prepared to go in front of a judge with a full breakdown of the past 3 years and my attempts, including actual names and conversations through ASC, as well as the 7 modification attempt information and denial letters. I thought that the government was requiring these lending institutions to "help" the people who had been taken advantage of through "subprime mortgage fraud" and come up with affordable resolutions. I'm not seeing it and I know that millions of other americans are in the same boat right along side me. I fought for 3 hard years so far, and I'm not giving up. Some people give in immediately to foreclosure, and that may be the easy way out while ruining any credit they might have, but not me...I AM FIGHTING THESE CROOKS! I have since been forced to move into another residence, to guarantee a nursery for my new child and family, all because ASC and many banks like them are too worried about taking it to the people who are trying to make it work, without giving in an inch along the way to just "fix their industry mistakes." Keep in mind while reading my comment, I'm not bickering over a $200/month increase. My mortgage went from $1100 a month to $1715/month in one year!! More than $600 increase per month with less income...It doesn't work! Thanks for hearing me out...hopefully none of you get stuck as long as I have...Keep fighting!

Chris B.
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