I was horified to see all the reports against this company but not in the least surprised! I have had problems with them ever since I refinanced my home last March! First, loan was to have been at 5.5% and at closing found they had moved it to 6%! I had been approved at Ditech weeks before at 5.375% but went thru with this as a "friend" was my broker and he needed the commission.
Then, in July my home insurance company (of 15 years) sent a notice I was being cancelled for non-payment!!! Called the insurance company and after many calls by them and by me they finally received the payment. ALS tried to say they didn't receive the right billing!
In August, I asked for the amount of payoff in order to remove the PMI (have never been late on a payment to any mortgage company for this house for the 15 years I have lived here). They refused to give it to me and said I was stuck paying the PMI for 2 years no matter what! I called my mortgage broker, 2 other brokers, several governmental offices dealing with real estate issues and all to no avail.
I calculated the amount of funds needed to bring this loan down from the original 90% of supposed value (which 2 other real estate companies have said was a lousy appraisal and far below the actual value which should have been used) down to well below the 80% of "value". Sent the payment (2 extra checks... One for regular monthly payment and second for additional principal).included was a letter stating I wanted the PMI removed.
ALS responded on the 10th of the month to my letter (in which the check was included) and then on my next statement CHARGED A LATE FEE!!! Said my payment was later than the 16th of the month!!! Yet they responded to the letter (and check) by the 10th of that month!
I called them again and they finally took off the fee... Now I send all payments certified, return receipt requested! The only number for which I can actually get a person to speak with is by using their DELINQUENCY CONTROL NUMBER!!! They seem to answer that but never at Customer Service!
I have been advised to refinace again, pay their prepayment penalty and get away from them as quickly as possible. I am never late on payments but just paying my house payment is now a horrible ordeal and takes lots of extra checking... Have to make sure I have a receipt for the delivery of the payment, have to check on all escrow payments to make sure they make them, have to watch every statement to make sure they don't hit me with extra charges!
Oh! And, when I sent the extra principal payments (of several thousand dollars each) they did pull some strange thing and there was some sort of wire transfer or other procedure used to take the money out of my bank... They did not just send the check in for payment! As I was credited for the payment I didn't check into the issue except to ask my bank... Who said they weren't sure what these people were doing.
So... If anyone figures out how to get away from these people... Let me know!!! I have all the documentation of what has happened to me!!
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