We refinanced in November and ASC bought our loan out. I paid all my homeowners insurance for the whole year of 2004. Everything was fine until October or November when I get house payment of 800.00 extra and more a month there after.
They said they had to put out a 4th mortgage insurance out on us in August costing $1,411.00. I said you didn't need to do that because I have never had a lapse on insurance. They needed proof so my insurance agent gave it to them. My payments were still high until they received a refund of 540.00 871.00 which equals their 1411.00 back to them.
Where is our money that we have paid extra and continue to pay extra. They are sucking us dry and we do not know what to do. We can't just not pay them and hurt our credit. Also they wont receive any payment unless it is the full payment so therefore I always had to pay it, now We are so broke and dont know what we are gonna do.
I really hope there is enough of these soon so we can get a class action suit against this company. You can't get any where with them. The thing is, I paid around $3,000 which would have paid for that 1411.00 and more.
When they got the proof of never having a lapse on insurance ever, and after they got their refund of 1411.00 from their insurance company then I should have right then got a refund for what I have paid, from what I have read they do this to a lot of people and I hope we can stop them. It can really depress you when you dont know how you are gonna pay your bills.
Company's adresses:
7495 New Horizon Way, Federick, MD 21703
PO Box 10388 Des Moines, IA 50306-0388
PO Box 60768 Los Angeles, CA 90060-0768
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