ASC bought our mortgage from Sebring Capital one month prior to Hurricane Katrina's destruction, which destroyed the home in its entirety. We are left with a slab, and a mortgage -as our insurance policies (two - homeowners and hurricane) have offered us only half the insured value after much struggling.
ASC has placed homes in the disaster area under a moratorium, protecting us from foreclosure as we wait for insurance payments, grants, SBA loans, and attempt to work out repayment options for the loan still owed on the slab.
I have diligently called the number printed on my monthly statement, claiming "We have not heard from you since the disaster struck your area. Please call our disaster team for help to assist you with your needs."
When I call, I am quickly told that my loan number cannot be seen by the team and am transferred to an ASC customer service rep.
The ASC rep advised me to send in my insurance payment for the half sum of my mortgage, explaining that I could designate the funds to be used as I chose. She advised me to use a portion of the funds for my past due balance that had begun as a result of the moratorium, and that a portion could be used for future payments to buy time until SBA payments arrived, and the remainder could go towards principal until the remaining payment arrived. Upon her advice, I did this.
Three weeks later, I received a letter stating that my account was past due. I called, and was told that my insurance check had been received and was being held in reserve escrow. The Loss Draft Department informed me that Customer Service has been wrongly advising customers, and that unfortunately, that money cannot be used towards Anything! Until the entire balance can be met. Until then, it will remain in a reserve escrow account.
Dismayed and irritated, I requested that they at least fax me a statement showing that the funds had been deposited in such an account. They sent me a payment history per my request. Upon reviewing it, I noted that I had been assesed a fee of 295.00 on 1/26/06 for foreclosure legal expenses.
I had never been notified of such fees or actions. Moreover, under the moratorium, I am protected until May 31 from foreclosure, payment, and negative credit bureau reporting. I immediately called ASC again, and was told that no such fee had been charged.
The representative I spoke to asked where I had gotten the payment history. After realizing that I did have the statement, she acknowledged the fees. She then stated she didn't know why they were assessed, and advised me to request in writing to Correspondence that they be removed. She had no explanation as to why I had not been notified prior to the assessment.
I was then transferred to Loss Mitigation to discuss a repayment plan. After a horrendous conversation with their department, I requested a copy of the workout plan for repayment to be sent to me for my husband and attorney to review. The rep stated that she was unable to do this.
The representative said that by sending me a fax or letter with the plan, it was a binding contract that I would participate in the plan discussed. I countered, stating that I would need to have in writing the plan stating my repayment agreement obligations to ASC - that it was imperative that I had a statement with the plan, that upon successful completion, would clear me of my debt and remove the possibilty of foreclosure on my slab.
She again refused. She stated that I could write the figures down on a piece of paper and show those to my attorney, but that a verbal agreement was all that she could do.
There is so much more. I could go on, and I hope that this is not happening to any one else affected by this disaster. We have been through enough. It is amazing to think - we are now to the point of trying to pay off the debt on our total losses, and this servicing company is so heartless that they would take anything, even a slab in what is a virtual ghost town, ridden with heartache.
Celene
Bay St Louis, Mississippi
U.S.A.
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