My home was destroyed by a fire in June. I received a check for the home from the insurance company. The check was not enough to cover the entire loan amount. I called ASC to see about sending them this check and when I sell the land paying off the rest of the loan. I was told to sign the check and send it to them and they would put it into an escrow account until I could pay off the loan in its entirety. I questioned this (because I know that escrow accounts are interest bearing accounts) I was told that this is their"policy" I don't understand why they cannot apply this amount to the loan leaving me with a much smaller balance. I suppose when it comes to big business they can eat us up and spit us out and have no feelings of regret for doing so. I was devastated after losing my home and now to have these morons saying they will hold the check just pisses me off. Does anyone know who I can call to help me with this situation. I live in Florida and I am at a loss, really at a loss.
I think for now I will hold the check and send them the entire pay off amount when my land sells. Play hard with me and I will play hard back keeping them from gaining any more money in my name.
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