ASC servicing anyone?What's up with the loan modifications?

[thewolfe]

Having a lot of trouble getting my loan modified. Have the ability to pay but no success with ASC. Have read several other comments in which people have been sent the same B.S. forebearance agreement. I will not sign for that! What do I do now?

[Dan Bailey]

thewolfe,
Glad you found the forum and posted.
You can try NACA:https://www.naca.com/refinance/refinanceSubmission.jsp if you do not wish to go with the plan offered by your serviser. but you can only own one property.

[MLark]

Same situation. ASC is not participating in ANY of the plans laid out by the new administration. It's ridiculous.

I hope other ASC loan holders post here as well. I think we should band together and start working the media. All we need are a few compelling stories about ASC and we can start pitching for news coverage. If ASC doesn't want to be a responsible company then it's time to shame them.

[thewolfe]

Does anyone know of any resources to find out who actually owns my loan? All the information I have read leads me to believe that the entity that owns the loan is who I should talk with. It seems that all of the servicing companies are blowing smoke. Since I refused to sign ASC's forebearance agreement they have neglected to return any of my phone calls in order to have them answer some very simple (at least I thought they were simple) questions. Thank you for any resouces you are aware of.

[Walking Away]

Fannie Mae and Freddie Mac are the investors on 50% of all mortgages. If you don't have Fannie or Freddie; then you might find out from a credit report that would be mailed to you. Here's link to see if you have a Fannie Mae backed loan

Fannie Mae Loan Lookup tool

Here's link to see if you have a Freddie Mac backed loan

https://ww3.freddiemac.com/corporate/

[MLark]

ASC told me who mine was, Morgan Stanley. I've reached out to them, to the executives, etc. and all I've received in return is silence.

What I find infuriating is that friends who purchased at the same time as I did but live in areas that haven't depreciated at the rate my home has (we're 225K underwater) are refinancing at 4.75 - 5% interest rates and we are not allowed to. If my mortgage was at 5% I would be in the free & clear with no worries.

[peanut]

I am in the same boat with ASC, they wanted me to do the forebearance also and I told them to stick it. I had submitted
paper work to them for a loan mod and they came with this
forebearance crap which does not help me at all. they said if
I make 3 payments of x amount that after that they would review me for a loan mod. I am 14 months behind with them
and I did not go for it. We will see what happens next.

[thewolfe]

Just checking to see if anyone has any new info on the loan modification process with ASC. I am unsure what to do from this point besides keeping in contact with them and sending money. Any helpful insight is appreciated.

[djdavisla]

Very very happy to share. I have been dealing with ASC for 10 mths, i never gave up, i keep perfect notes of who i spoke with and anything important i faxed, i sent cert. of mail. MOST IMPORTANT i always stayed nice, even when my package was lost many many times. my loan was large , not sure if that mattered, but *** from this site gave me the wells fargo team and that saved my life. so if you can find out who your loan is owned by. keep documenting. and calling, any questions just let me know thanks Davis