As a former and current customer of ASC, I am terrified about what I have read.
When we first bought our house in July of '04 they serviced 20% or our mortgage. I had noticed that our payments were never posted promptly. The thought did run through my mind that they were crooked. I am pretty vulnerable, I suppose. I probably only had a couple of hundred dollars in late charges. I felt safe that my house would not be taken away because they only held a small portion of our mortgage.
We refinanced and I felt great relief that we were finished with them. We refinanced through Quiken Loans and had no problems with them what so ever. They were wonderful. They told us that they would indeed sell our loan. We were o.K. With that and understood that that would happen.
I recieved the letter that our mortgage would be sold to none other than ASC. What a surprise.
We have only been with them for one month now. I mailed my payment about 1 week before it was due. Now about 3 weeks later, it still has not been credited to my account or taken out of my bank. I am scared! These are all very good suggestons above about how to protect ourselves.in the mean time I am going to start sending my payments certified mail etc.
I have 4 young kids and we worked very hard to get where we are today. I do not understand how a company can be so crooked. And affiliated with a well known bank such as Wells Fargo.
Good luck to everyone.
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