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ASC Mortgage Foreclosures

Updated on September 9, 2010

ASC, also known as America's Servicing Company, is owned by Wells Fargo Home Mortgage, Inc. If you are behind on your loan payments with ASC Mortgage, you already know how hard they are to work with. I was so shocked at the number of complaints I found online when I started researching this article that the slant of the article took a whole new direction.

After reviewing the complaints, it is my recommendation that you avoid dealing with ASC if at all possible. If your loan is with ASC Mortgage Company or Wells Fargo, I encourage you to try to refinance your loan before you fall behind on your payments if at all possible, just to get away from this company.

Of course, if you're already facing foreclosure from ASC Mortgage, it's probably too late to refinance. Read this article thoroughly for tips on working with ASC but be prepared for a worst case scenario. If all else fails, you may be able to save your home by filing for chapter thirteen bankruptcy.

Try to Catch Up on Your Loan if You're Behind

If you are already behind on your payments, it may be difficult to refinance. It is unlikely that you will be able to reach a workout agreement with ASC, so be prepared to consider other options. If you can borrow enough money from friends and family members to get the loan caught up, don't hesitate to do so. Or perhaps there is something you could sell (not the house -- that usually takes too long) to earn enough to bring the loan current. Getting a second job may be what it takes to save your house. The main thing is to get the loan caught up as quickly as possible, no matter what it takes.

Once the loan has been brought current, try to keep it current until you can get the home refinanced. At this point, if your home is worth enough to cover the loan balance when it sells, you may want to consider listing the home. I know it is a hard decision to make, but if you need to downsize and live in a less expensive home for awhile to save your credit rating, it will be worth it in the end.

After the Foreclosure Process Starts

If you are behind on your payments and ASC has already started the mortgage foreclosure process, it may already be too late to save your home. I hope for your sake that you will be able to do so, but I don't want to lie to you and say it's going to be all right. There is still hope, but there is ample evidence that ASC Mortgage is a very difficult company to work with. Even if you find an investor who is willing to do a short sale, ASC has been known to drag their feet until either your time runs out or the investor gives up and walks away from the deal. However, there are a few things you can do to improve your chances of saving your home.

Once the foreclosure process begins, make sure you respond to any documents you receive from the court and show up for any court dates that are set. If you are talking to someone at ASC Mortgage, they may tell you that it is not necessary for you to appear at court. This is only true if you are OK with your home being foreclosed. Whenever something goes to court, if one side doesn't show up, the other side usually wins by default. If you want to save your home, always show up at every court date so you will have an opportunity to tell your side of the story.

Whenever you talk to someone from ASC, get their name and take notes about what was said. Better yet, record the conversations if you can. I have seen many complaints claiming that ASC representatives lied to the homeowner on the phone, telling them there was nothing to worry about, that they would get something worked out to save the person's home. However, the foreclosure process continued in the background and once an auction date was set, the representatives would no longer talk to the homeowner. It could be helpful to have conversations like this recorded to be able to prove that you were misled by the company in case such evidence is needed.

I highly recommend that you talk to a lawyer as soon as the foreclosure process begins. The lawyer may be able to give you some strategies to at least buy you more time while you try to refinance or sell the home to come up with enough money to pay off the mortgage. At this point, just catching up on the payments will probably not be enough. Many times, once the foreclosure process has begun, you have to pay off the entire mortgage balance in order to keep the home from being foreclosed. This makes it extremely difficult for a person who is facing foreclosure to save their home.

Working with Investors

Don't dismiss the idea of working with a real estate investor. You can find real estate investors in every part of the country. Look for ads and signs that say "I buy houses." Call a few of them and see if they can help.

If you are behind on your payments but not yet in foreclosure, the investor may offer to catch up your loan and take over making the payments on it. This can be a good deal, but you should always do your due diligence. Ask the real estate investor for proof that he is able to make the payments even if he can't find a buyer for your house right away. If the investor is not willing to show proof of his financial ability to pay, look for another investor. Many beginning real estate investors get in over their heads taking over payments on houses they cannot afford to pay the payments on. If this happens to you, it is likely that your home will end up going through the foreclosure process after all, even though you thought it was saved.

Once your home has started through the foreclosure process, it may be necessary for you to get a cash sale in order to save your home. Many experienced real estate investors have the cash to do such deals, but keep in mind that they are in business to make a profit. If your home is worth less than the mortgage amount, your only hope is that you can get ASC to accept a short sale to the real estate investor.

After the Auction

If your home is auctioned, you will be given a certain amount of time to move out of the home. At this point, there may be a redemption period, during which time you can get the house back if you are able to pay off the loan balance. The length of the redemption period varies depending on which state you live in, and some have no redemption period at all. You'll have to check the foreclosure laws for your state for more information.

Buying ASC Mortgage Foreclosures

If you are looking for foreclosures to buy, you can find them easily enough. Regardless of which mortgage company is handling the foreclosure, the procedure for finding foreclosures is the same. First of all, check the legal section of your local newspapers. In most areas, the mortgage company is required to publish a notice in the newspaper prior to the foreclosure sale. If you are planning on buying properties at auction, this is the best way to find them.

Once the auction is over, the home becomes the property of the mortgage company if there are no bidders at the auction. These home are referred to as "REO" or "Real Estate Owned." Many banks and mortgage companies post listings of REO properties on their websites. However, the only information on ASC's website is a phone number, 866-674-1430. If you call ASC, don't ask for foreclosures. Ask for the department that handles REO's.

Another way to find foreclosures is through real estate agents. Most banks and mortgage companies do not handle the sales of their REO properties directly. They list them with a real estate agent. Find a local real estate agent who can keep an eye out for new foreclosure listings and notify you as properties become available.

Finally, you can locate pre-foreclosures by advertising. Pre-foreclosures are properties that are not yet in foreclosure. The owners have fallen behind on the payments, but the bank or finance company has not yet begun the foreclosure process. The only way to locate these properties is to get the owner to call you. You can do this by placing "I buy houses" ads in the local newspaper and putting out signs. Many of the people who call you will be behind on their payments.

Contacting ASC Mortgage

The phone number listed on ASC's website is 866-674-1430. If you have a mortgage with ASC or are an investor working with a homeowner who has an ASC mortgage, check the latest mortgage statement for more contact numbers.


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      East Texas 5 years ago

      Please be aware things have not changed at ASC (Wells Fargo). I have a very good friend that ASC currently is trying to foreclose on. Hopefully by hiring an attorney this process will not go through but at this time we are not sure. ASC will not return telephone calls even between attorneys. They will lie to you and misrepresent what they tell you when you are lucky enough to talk to them. This all started when ASC said NOT to make loan payments on the home and they were going to do a loan modification. Do not believe them. They are just trying to foreclose on your home.

      My friend had the money to make the payments but ASC said not worry that they would take care of it by doing a loan modification. I can not believe a company like Wells Fargo would be owned with a company like ASC. Hopefully this will help someone who reads this. My advice is to try and get a loan somewhere else if possible. Another company that is associated with Wells Fargo is BlueSky Lending. Wells Fargo may have other companies they maybe using to avoid all the bad news and misrepresentations.

    • profile image

      Kim kirkwood 5 years ago

      So get this! Wells Fargo sent my home mortgage into foreclosure 1 day after i got all caught up on ,my payments! i am soooo sick of thire shit.Not worth the stress for sure, especially when the mistake is on them, and not me!

    • bethparker profile image

      bethparker 6 years ago from Grant, MI

      Thanks for the links, Guss1. I'll check them out.

    • profile image

      Guss1 6 years ago

      Also, I just found this.

      It is a story explaining a new review process for foreclosure victims. This may give some of you recourse I hope.

    • profile image

      Guss1 6 years ago

      I too have a dreadful series of circumstances involving Wells Fargo (not ASC however). This has prompted me to do substantial research on the web to find others whose loans are NOT owned by Fannie Mae and Freddie Mac. We seem to be a forgotten part of the housing crisis- or perhaps we are just the lowest of the low- not sure. But each of our stories is a testament that the administration's reliance upon the 'voluntary' participation of banks such as Wells Fargo in programs like HAFA is NOT working. I am wondering if we might not benefit from a website of resources, information and a place for doing a little advocacy of our own? Anyways given Wells Fargo's questionable business practices, it is definitely best to have legal representation. One suggestion I came across in my web travels was to go to the National Association for Consumer Advocates, They may be able to provide legal advice for people in our situations. I have not contacted them so I have not vetted this but if there is the possibility that this may offer a little peace of mind for some of you out there I wanted to mention it.

    • bethparker profile image

      bethparker 6 years ago from Grant, MI


      Document everything, and show up in court to defend yourself if the foreclosure is going through the courts. You lose automatically if you don't show up. Oh, and get a lawyer to help you through this.

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      Abbey 6 years ago

      What can we do about this? This company is a fraud!! My son and I live with my boyfriend and his load was through wells fargo and sold to ASC. He tried for a loan modification and the same thing happened to him as previous comments, lost paper work, it wasn't in on time etc. when it really was. Then they kept sending back his payments and recently we got a letter from the courts for foreclosure!! What do we do!? Please Help!? Thank you!

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      JKirkwood 6 years ago

      My partner and I lost our condo financed through ASC/Wells Fargo who actually bought our loan from the original lender. Like so many others, we were told we would qualify for a mortgage modification and submitted all the required paperwork. We then received a letter saying they denied our request because we failed to include all the paperwork. We resent the supposedly missing piece of information and surprise - we did not qualify. We are four months into the redemption period and I called last week to ask a few questions. The representative was polite and offered nothing more than simple, direct answers to my questions. Then this week I went to the condo to retrieve some of our last possessions and was completely locked out: of the building; and the unit had a brand new, strong lock.

      When I called the representative I was connected to was a piece of work. After finally getting to my real question, she stated that the bank had no obligation to try to contact me since they sent someone to the property who was told I had abandoned the property - which was a lie. Now I am waiting for a call from their Property Security (or some such thing) Department who will make arrangements for me to get into the unit. I have been told by two lawyers that it appears they are in the wrong, but it would not be worth my money to sue them since they are a large corporation and I only want the last few things out of the unit.

      This company is also responsible for three of my relatives losing their home in California. They have rejected every offer for a short sale and are going to start the foreclosure process in early August.

      Bad, bad company!

    • Blackberry profile image

      Blackberry 7 years ago

      Loan modification are fake they do not work. Everyday I hear people cry because they can't get anywhere with ASC.

      Not only that ASC will tell you not to make payments on your home they are going to do a loan modification but they never do then before you know it your home is in foreclosure.

      It's so hard to believe this can happen in America and nothing is being done about it.

      What in the world do they want with all these houses what good are their tricks doing. No one is buying no matter how cheap the homes are.

      It's sad that this is happening.

      It's one thing to be forclosed on because you can't make payments it's another thing to be cheated. This company is cheating people.

    • profile image

      Sheila 7 years ago

      I am horrified by all of the stories that I have just read about this company! I am so glad that I am not alone! It appears that I may not wake up from this nightmare! I will be making some noise with my ink pen. It is time to contact Congress or whomever will listen! ASC should not be allowed to get away with this type of business practices!

    • bethparker profile image

      bethparker 7 years ago from Grant, MI


      You might want to get a lawyer to request the payoff for you. It might be cheaper to pay your own lawyer than their extra fees. Just a thought. Good luck.

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      Joe 7 years ago

      ASC and Wells Fargo are the scum of the earth, they should be wiped off the planet. I have been in negotiation for over 2 years ton try and modify my loan to no avail. They did offer a temporary modification that only resulted in a payment difference of 30.00 and I was told if I kept them up for 90 days I then would be considered for a permanent modification but no guarantee of one (we all know how those went). Well I guess I was fortunate, I came into some money, enough to pay my home off, I have been trying for three weeks to get a pay off amount and I can't get one of these suns of bitches to tell me what to pay, seems they want to drag it out long enough to go to full foreclosure so they can collect another 2 grand in attorneys fees. Good luck and lets lobby congress to enact a national Banker's Hunt Season. LOL. Good luck to all out there and as everyone else said if you can get rid of Wells Fargo or ASC do so, as they are scum.

    • bethparker profile image

      bethparker 7 years ago from Grant, MI

      Bravo! Way to show them, R.C. Make sure you keep recording everything. I hope you can get them to accept your payments and reinstate the mortgage. Good luck.

      For everyone else who is dealing with ASC, do what R.C. is doing--save every piece of paper and record every phone call. You absolutely MUST show up in court on the hearing date if you hope to have any chance of winning. As with any court hearing, if one party fails to show up, they automatically lose.

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      R.C  7 years ago

      i have been working with asc for over a year the always try to make u feel thaT U R APPROVED FOR THE HOME MOD FOUR DIFFERENT TIMES THE SENT ME PAPER WORK TO FILL OUT AND SEND BACK BUIT THE DATE ON THE LETTER HEAD SAID SEPT 8TH THE DATE THEY STAMPED IT WAS THE 13TH THE DATE IT GOT TO ME WAS FRIDAY AFTERNOON AND NOW GET THIS I HAD TO HAVE ALL FORMS AND COPYS ETC AND IT HAD TO BE IN THERE OFFICE ON THE OTHER SIDE OF THE U.S.A NO LATER THAN THE 18TH THAT'S LESS THAN 16 HOURS OR I WOULD BE TURN DOWN FOR THJE MODIFACTION LOAN SO I WOULD CALL THEM AND THEY WOULD SAY DONT WOPRRY ABOUT IT I JUST GAVE U A EXTENSION SO AFTER THREE TIMES DOING THIS I SAID OK BUT THIS TIME PLEASE SEND ME SOMETHING IN WRITING SAYING U GAVE ME A EXTENION NEVER GOT ONE BUT I DID RECEIVE THE SAME LETTER I HAVED RECEIVED THE THREE TIMES BEFORE THAT I WAS TURN DOWN BECAUSE I DID NOT HAVE MY DOCUMENTS BACK IN THE TIME THEY GAVE ME BUT IT EVEN GETS BETTER SO I TRY TO GET AN amount TO COME CURRENT NO ONE COUJLD SEAM TO HELP ME THEY KEPT SAYING I WAS APPROVED FOR THE MODIFACTOIKN AND THERE WAS NO FORECLOSER DATE I SAID REALLY THAT'S FUNNY BECAUSE I JUST RECEIVED CERTIFIED LETTER FROM YOUR ATTORNYS To be in court the very next day to ask judge to allow forecloser to start lucky i was able to get a some what of a amont to make be current witch was 7168.52 so i showed up to court with 7200.00 dollars in my pocket i did not have a lawyer with me and was told from a ASC Wells fargo employee the judge 99.9%of the time willallow them to start forecloser so i did not need to show up thank god i did and they where almost right but what they didn't know i was on to there lie after lie so i have been recording time every time i take to them it gets better so i show the judge the money and there lawyer said that was not enough money and i needed 10060.52 and i let the judge know they said im approved for the mod loan and lawyer said no then i pull out my recorder from pocket and play where an employee said yes i am so lawyer said no they shouldn't have told me that also i told him if i would have know i have 25000 equity so judge ask lawyer to go with me out of cort room and maybe we can work out a aggrement and she could check and c if i was approved so when we talked lawyer ask if my silver tape recorder was on i showed it to her (lawyer)and sat it on the bench in the hall she was making a call to ASC / wellfargo and ever time i got close to lawyer she would say i need to talk in private the she came back to bench in hall way she look at my recorder and yes it was off then i ask well was i approved then she said yes sort of i said what i have then on tape saying i was then i ask am i or not she said yes but she also ask and ask me to allow the judge to allow forecloser but if i did as soon as she got back to dallas office they would put it on hold i said no i have 7200 dollars in my pocket i pulled it out and showed it to her she said u need 10060.52 so we went back in court room judge ask the we come to a aggrement she said no i woukld like for him to go ahead with forecloser and she said the ASC/WELLFAGO employee maid a mistake and i was not approved i stood and said u said in the hall after u got off the phone that i was approved she said no i did not i said yes u did and i can prove it she said prove it NOW GET READY U R GOING TO LIKE THIS !!! SHE knew my tape recoder was off and laying on bench but what she (lawyer didn't know ) I HAD ANOTHER ONE BLACK IN MY PANTS LEFT POCKET and when i pulled it out and rewind and played to the judge and it had here telling yes i am approved so the judge said no for now and she asked for new datw to come back 2dats later butit re schedule two week for the 21st

    • profile image

      bill99 7 years ago

      BSP - Can you forward me the contact information of your lawyer? I'm going through hell with them right now.


    • profile image

      BSP 7 years ago

      Every one who has ASC as their mortgage servicer. I was ging through all the hell of this company. One day I contacted a lawyer. He did a title search. They dont have any standing to forclouse. Almost all of the peoplewho come through his office with ACS are exactly the same ASC HAS NO PROMISARY NOTE AND CAN NOT FORCLOSE! Get to a lawyer ASAP STOP SPEAKING TO ASC AND CALL A LAWYER!

    • bethparker profile image

      bethparker 7 years ago from Grant, MI

      @Lisa You should talk to a lawyer to be sure, but if you have something in writing saying they will take $969, you might be in a pretty good position as long as you keep paying it. If they try to foreclose and you show the judge that letter, that's not going to look good for them. The key is to make darn sure you SHOW UP at the hearing to show proof of your side of the story.

    • profile image

      Lisa 7 years ago

      I'm so glad I'm not alone in dealing with these aweful people. I've been through hell for too long! How can this many people have a problem with ASC and nothing has been done about it? When I first started the loan mod process I wasn't behind on payments...I had to be behind to even be considered. What a crock. About two months after the process was started I received a letter saying that I was approved and my payment would go from $1129 to $969. Going from two incomes to only one, this was a small amount but I was so greatfull and made my payments on time. Now, two weeks ago I received a notice stating that there was some sort of paperwork that wasn't up to standards (???) and actually the modification had not went through and the two payments of $969 were considered "unapplied funds". I've received calls from all over the world from people I can't understand, been given wrong phone numbers, fax numbers, and cannot speak to the same person twice. And BTW, HSBC is no better than ASC. After hurricane Katrina I did what I had to do to get my family into a home. I should have just lived in a tent! Carl, atleast you got your payments back! Good luck to everyone who's going through the same stress I am.

    • bethparker profile image

      bethparker 7 years ago from Grant, MI

      I wish I could answer that, Carl. From the way things sound, it is nearly impossible to work with this company.

    • profile image

      Carl 7 years ago

      Same issue we have been trying to do a Making Home Affordable Programe and we Have been doing the Same waiting almost 23 months. When we send a payment they send it back. We are told because the Home is under forcloser, We have been under forcloser 3 times and each time the Org Loan ammount jumps 20 grand. Our org Loan was for 140, we Now owe 170. We get the same response, Under review, or paperwork was incompleate it is always some BS. Oh they have added insurance to the loan @ 200 dollars a month . We have our own Incs why do we need more? Yesterday we were told we only have one option left and that is a short sale. Because we don't have enough income. We Make more Now than we did when we bought the house. No I guess since the Loan is now 30 Grand more we don't Have the income. Then we spoke to someone with Loss Ligt. and they told us to resend all the paperwork, new date's because the MHAP had never been filed. ???!!!#### our Home is running in the paper as being sold on OCT 6th. This has been the most insane thing I have ever been involved with. We would give up & file chapter 11 but we have been in our House almost 7 years and have put alot of $$$ into it. What do we do?

    • profile image

      Luis  7 years ago

      I have been told I do not qualify for a loan modification by ASC. It has taken two years of back and fourth to no avail. First I was told applications were sent but I never received them. Next I was told they would be faxed but never received them by fax. After numerous calls by my wife and I they sent paperwork that was incomplete. They make it impossible, they do not want to help anyone. They should be investigated by the Attorney Generals Office.

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      NAT 8 years ago

      We had a loan with ASC I say had because they recently forclosed on our home. We had been trying to work out a loan MOD, this was after they said we had to stop paying in order for them to work with us. We sent all of the paperwork they asked for and they sent us back a loan mod with a payment $10 less than our original. When we called them they said that they had screwed up on there entry of numbers and they would re work the paperwork. We called once a week and sent them the paperwork 5 different times at their request. Well 6 months later we got forclosure notices stating that we failed to pay the trial period. When we called they said we needed to send back the original modification unsigned, however the 20 other times we called they did not state that, "it is under review" is what we were told. So then they said that there was a sale date but it was under review so it would be out on hold. We had told them we wanted to stay in the home and would pay back all of the late payements but we needed an amount. Then we called Wells Fargo and the lawyers that they were working with and we were told that the forclosure process was on hold it was being re worked.So next we do our weekly call and they said that our house had been sold?! Seriously but 4 days ago it was under review and on hold?! So now that it has been sold they send us the amount to catch up??!! So ASC is the worst company in the world no one there knows what they are doing and along with that Wells Fargo as we talked directly to them numerous times.

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      Orlando 8 years ago

      I had lost my home to these SHARKS I had been kept on hold for so long on an answer and when they got back with me in the end they said that they would ADJUST my loan by $25.00 I was paying $645.00 8 years ago and was on an ARM BIG MISTAKE OBVIOUSLY ! but ended up paying a MORTGAGE OF 1265.00 a month and they said they could only ASSIST myself with only ADJUSTING MORTGAGE BY $25.00 GO FIGURE !!!!!! BUNCH OF CROOKS & SHARKS those are just the conservative words I ACTUALLY HAVE 2 WORDS BUT they should be able to figure that out !!!!!! Well I do hope and sure that PAY BACKS for those OUTFITS will come to them. If anyone has any optoins or suggestions on where to go to find out what could possibly be done with these OUTFITS cannot call them a Company or firm. I think they MAKE THERE MONEY ON THESE MORTGAGES LIKE CROOKS THE FIRST 5-7 years on INTEREST BIG TIME !!!!! then they start making things DIFFICULT on these ARM loans then the next thing you know they cannot help or work with you. IF anyone with legal advice on any type of CLASS ACTION LAW SUIT AGAINST THEM THAT WOULD BE GREAT. I have heard that THIS BANK and OUTFIT I THINK HAVE THE MOST FORCLOSURE CASES THAN ANY OTHER MORTGAGE OR BANK !!!! IF TRUE SOMEONE OR THE GOVERNMENT SHOULD INVESTIGATE THESE CROOKS!!!!!

    • profile image

      DAWGMAN 8 years ago





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      AlreadyScrewed 8 years ago

      Yea, I lost my home to them. Looking on the bright side (as someone above said) someone did get a nice, large home. Sad to hear the ASC hasn't changed at all. Bunch of pirates if you ask me. "work with you" not a chance.

    • bethparker profile image

      bethparker 8 years ago from Grant, MI


      In some states, the bank can come after you for the difference between what is owed and what the home sells for. This is called a "deficiency judgment." There are usually limitations on the circumstances in which they can do this. I don't know the rules for all of the states. I'd recommend doing a Google search for "deficiency judgment your_state_name" or contacting an attorney who is familiar with the foreclosure process in your state. Good luck.

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      John William 8 years ago

      I am possibly having to go through foreclosure on my house. I have a first mortgage with ASC for $1,000,000 and a second mortgage with Citibank for $250,000.

      I am afraid they will sue me for the mortgage notes. What is the likelihood of such a thing happening (in your opinion)?

    • bethparker profile image

      bethparker 8 years ago from Grant, MI

      Good luck, Ray.

    • profile image

      Ray K 8 years ago

      My wife and I have been trying to modify our loan with ASC for 2 years, They do give you the run around, tell you to write letters of hardship. In return you will get a 1 of 3 letters stating you do not qualify for a loan modification because you don't make enough money, you make too much, or your option is to sell you home, get a higher income, or short sell your home (do not short sell ever, you will be taxed the diffrence between your loan amount and the amount you sell your home for. It counts as income) Our lastest effort after talking to an ASC rep. was the only way to get ASC attention is to stop paying on the loan. ( if you can afford to make your payment do so and stay current and try and get another bank to buy your loan or re-fi your home if you can ) for us this resulted in a letter from ASC telling us our case was under review and expect an offer of modification within 45 to 65 days. We received a 30 page legal document 30 days later from E-Trade Bank representing ASC informing us that they are filing a foreclosure on our home. If is anyone out there that is or has gone down this road has with ASC and have kept good records of your calls and letters with them. I am going to court Oct 27 in San Jose CA. I would appreciate any letter that you would write with copies of your own personal documentation I would be greatful. Alone aginst a large Corp. cloaked behind yet another large Corp. No one person even with a lawyer will get anywhere. If we all stand up at one time and have the paper work to back up how this company and its employees have been conducting business please send me an email to I really wish everyone the best and hope you and you family stay safe. Thanks you all Ray K.

    • bethparker profile image

      bethparker 8 years ago from Grant, MI

      Thanks for your comment, Lisa. I haven't done any more research on ASC since I wrote the article, so I wasn't sure if anything had changed or not.

    • profile image

      Lisa Lewis 8 years ago

      The answer to Karen's question is... No they have not improved at all.

      I got a letter from ASC stating we qualified for the government homeowner assistance program and that I should call - so I did, to be told... sorry you don't qualify. To get another letter saying, you qualify to be told again, you don't qualify... grrr

    • profile image

      Karen 8 years ago

      Has ASC improved at all? I see this was written 8 months ago, before or around the time the Obama administration took office. I'm just looking for some hope. Also, has anyone had luck getting a loan modification with ASC or Wells Fargo using an attorney?

    • profile image

      Greg McCormick 8 years ago

      I, thank God, am not involved w/Wells Fargo, or American Services Corp. (ASC).

      Unfortunately, my daughter has been involved with these dreadful people at this dreadful company for two years,trying to negotiate re-finance. They've sent as many as three letters,this week, in their alleged effort to "assist" her in keeping her home, each letter contradicting the content of the other two interms of contractual agreements being offered, interms of what she is required to do to qualify for re-finance, interms of the time deadlines and even the basic issue of their willingness to work with her;one letter saying "we regret to inform you", the next saying "congratulations", the next amending the stipulations of the congrats. letter.....all recv'd within the space of one work week.

      Both these company's; Wells Fargo and ASC should be under indictment by the US Attorney Generals Office. It's been well publicized that WF and ASC were the single largest perpetrator of bad mortgages over the last several years.

      THe current administration would have us believe the mortgage crisis is over. I encourage Mister Obama to form a congressional committee to identify and interview Wells Fargo's mortgagers and interview them. I would encourage any who read this, who are WF customers to go elsewhere with their banking. You're continued association with Wells Fargo implies your validation of their shoddy business practices. YOU COULD BE THEIR NEXT VICTIM!

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      Jimmy Sgambelluri 8 years ago

      As a loan originator, the banks are having difficulty delivering loans to the secondary market because of additional requirement by their investors. Their fear is having to buy back these loans and hold them on their books. they are not in business to do this. Not making excuses for them because I am more frustrated than most of you, just trying to shed some light on what is going on right now.

    • propertyauction profile image

      propertyauction 8 years ago from UK

      No one really wants to go through a foreclosure. Losing your house can be such an emotional experience. But there is another side to this reality that not many people see. The homes lost by one family can be 'gained' by another. Bank or government owned properties auctioned off are not bad deals.


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    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
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    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
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    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)