Asc Success!!

[jennifer123]

hi everyone,

spoke to asc yesterday and they told me i will be assigned to a negotiator next week. made my last forebearance payemnt on june 14th. i had a bit of confusion with a few of their reps- one told me they will not modify my negative escrow and all along they told me it would be modified, yesterday they told me i was misinformed and it would be modified, too many different stories, not sure who to believe, i am hoping the neg. escrow does get modified. i recently found out my hoa had placed a lien with my county courthouse. i did call asc to inform them of this because i am sure it will show up on the title search, i was debating wether to tell them or not. they told me two things can take place, either they pay the lien and put it into my loan or i pay the lien and provide a lien release. has anyone encountered this in the process of their loan mod? thanks for your help.

[Cat Damiano]

Jennifer,

This dilemma will happen with any liens..............whether it is HOA or Taxes...............the lenders will pay if you don't to avoid having the liens there.........

If it isn't that high of an amount you might want to tell them to pay and then they will most likely roll it into the principle balance of the loan.........unless you have the money to take care of it.....

[jennifer123]

hi cat,
thanks for getting back to me. i was so consumed with this lien issue when i found out and they said it is not that big of a deal and that they run into this issue alot. the lien is for 1,800.00. i lost a night of sleep over this. i think i am just nervous because we are entering the actual modification part and i have a fear they are going to tell me no to the mod. i dont know why i am stressing myself out because all along they have told me if u make your 3 forebearance payments you will get the loan mod. w/ no problem. hope thats true. thanks again

[jennifer123]

hi everyone,
spoke to asc yesterday and they told me they notified my investor that we made all 3 forebearance payments as agreed. they said i am now in review w/a negotiator. they said it is not showing a name of a specific person working on our file. they did say there are notes on our file stating it is going to be at least 3-4 weeks before it is done. so now i have to stress for another 3-4 weeks. i dont know why because each time i call asc they tell me as long as i made the 3 forebearance payments they will do the loan mod. i think i am stressing over what the contribution amount wil be. they told me to save for the same amount that i have been paying for the last 3 months ($2,532.78). i am getting different stories that the investor will roll my negative 8,000.00 in escrow in the loan mod. and others say no that they will stretch the amount out over 3-4 years. i am afraid they are going to ask for a contribution amount of 5,000 or more but asc told me they realize not too many people have that kind of money and if they did would not be in this situation. hope that is true. i did find out our hoa has placed a lien on us for back dues but i do have a settlement agreement w/them to make monthly payments but now asc said they might pay the lien and put it into the loan. does anyone know when the hoa puts a lien on your house are they then considered the first lien holder? i also had an issue with the irs placing a lien against us but they recently released that lien as of last week and sent me a copy so i am holding onto to that tightly in case i need to show proof to asc that it was taken care of. i know asc must have my account flagged that i am a pest because i have been calling everyday since last week with questions that come to mind. well thats it for now, i will post another uodate as soon as i get new info from asc.
jennifer

[jennifer123]

i just got off the phone w/asc and i can not believe this. all along this whole loan mod. process i have been told by asc as long as i make our 3 forebearaance payments on time they will modify our loan. kind of like a good faith payment. i was told all aong after we make our 3rd payment we do not need to make one during our review month and being we are in an agreement there is no worry for foreclosure proceedings. we had 1,800.00 in suspense. i found out today that they took the 1,800.00 and applied it to our 297.00 in late fees and the rest to our negative 8,000.00 in escrow which is fine because our escrow is down to -6,000.00. this person just told me i will receive a letter or call letting me know if we were approved. that is not how i have been informed all along. i just spoke to a gal at asc on monday and she told me everything was fine and there is no need to worry that i did everything i was supposed to. this person today told me i should be making payments to prevent foreclosure and here i have been told all along to save as much money this month to go towards our contribution amount. no problem, seeing as we were told we didn't have to make a payment this month. i have been stressing so much over this whole thing and to get this kind of info today sent me into a depressed state. is it true as far as if u make your 3 forebearance they will grant the loan mod? thanks for the advice and support. i was thinking that maybe that was a good sign that they applied that money in my suspense to escrow and late fees so they can get numbers together to present to the negotiator.

[jennifer123]

while reading other asc posts i found a number that Cat provided to another member w/asc which happens to be a different number from what i have been calling. i called the number and i have to say i feel sooo much better. i spoke to sasha in the loan mod.approval/loss mit dept. and he told me that i made my 3 forebearnce as agreed so my loan will be modified as agreed as long as i made my 3 forebearance payments. he also told me the 1,800.00 that was in suspense should of never been taken out. that was to stay there to go towards my contribution amount. he said he was going to email mrs.franklin who started my file as of yesterday and make her aware of what customer service did and they money needs to be reversed and put back into our suspense acct. he also told me the special forebearance w/loan mod to follow prevents foreclosure procededings as long as you follow the agreement accordingly. the info sasha just gave me has been the same info i have been getting all along until i spoke to those 2 other people 2hrs. ago. they completely threw me for a loop. sasha also said no payment is required this month because this is my review month and the money would only go to suspense and not get applied to anything so it is best to hold on to it and if the 1,800.00 in suspense is not enough to cover our contribution amount we can set it up to have our acct. drafted for the difference. i am of course hoping that the 1,800.00 will cover our contribution amount. he did say it is unlikely that my negative 8,000.00 in escrow will get put into the loan but can be spread out over a matter of 4 yrs. he said there are only a few investors that will let the negative escrow get put back into the loan. maybe my investor is one of the few, we'll see. if not then we will just have to make the payments, its better then them asking for the whole negative amount up front. sasha also asked if all my info on file was the same as far as paystubs and financial info. i told him yes and he said he would let mrs.franklin know to go ahead and use that info i faxed over in the middle of march. i feel alot better now that i spoke w/sasha, he did ask me the name of the last two people i spoke w/ because they both misinformed me. i will keep you updated on my next call to asc. take care and good luck to everyone else going thru this.

[Cat Damiano]

Jennifer............

I am glad you found a different number that I posted because I thought I posted them all in your thread here but in my travels through the web of lenders websites I always find new ones and post............

I am so hoping that you get some good news and they modify like they said they would.................

Good Luck.......

[jennifer123]

Hi Cat,
thanks for getting back to me. you probabky did post the numbers for asc under my thread, i just never back tracked. i read other members post regarding asc. are you seeing the people who are on special forebearance w/loan mod to follow plans getting their loan mod. after they complete their forebearance plan. someone in loss mit. told me on monday that she has not seen 1 special forebearance w/loan mod to follow plan not get approved. are you seeing that pattern happen alot w/the special forebearance plans? i can not wait until this is over. i am tired of being stressed and not sleeping over this loan mod. the gal on monday in loss.mit said i should not worry because the loan mod will follow as i completed the requirements to get my loan modified. thanks again for your advice.

[RudyJay]

Hi..

Sounds like you are in the home stretch.. Sorry about those sleepless nites and we have all had them... When I was updating my loan mod i called daily too... so I know what you mean... Hang tough... sounds like not too much longer... way to keep on it...rj

[jennifer123]

hi rj,
thanks for the encouragement and support. thats what gets us through these tough times.
jennifer

[jennifer123]

hi everyone,
i finally have a negotiator (mrs.franklin). i was wondering if anyone who has been thru a loan mod w/asc has had this negotiator handling their loan mod. i am still stressing over this. i know they have to pull credit but i am worried that they are going to question some of the items i didn't include. the reason i didn't include them because they were charge offs and old medical that i am disputing w/my ex. and there are a few small cards that i had to let go so i didn't include them because i haven't paid on them for about 6 months or so. i am hoping they aren't going to base alot on credit report. has anyone had their negotiator call and question what was on their credit report? thanks again for you support and advice
jennifer

[jennifer123]

hello again,
is asc required to give me the negotiators number? they told me they don't give the negotiators numbers out because it will just slow them down with having to deal w/phone calls.

[Cat Damiano]

No..............they are kind of like the underwriters when you apply for a mortgage........you only get to deal with them if they need to speak with you.........and it is the truth that if all of the people on the files were calling them..............they would never get them done...........

[jennifer123]

hi everyone,
just got off the phone w/asc for the 3rd time today. i received a default letter in the mail. they told me it was computer generated and being my loan mod. wasn't finished by my balloon payment date the computer automatically generates those letters. she put a request to accelerate the loan mod. i poke to a lasy now and she said there is a notation for todays date that reads: approved. but nothing more, she said she didn't know if that was for the forebearance agreement being successfully completed or if it is pertaining to the loan mod. she said the negotiator might not have put all the info in yet. i made my last payment on 6/14. the notation that says: approved is from today so i am hoping it is pertaining to the loan mod. and the negotiator just hasn't put all the terms in, i wonder if they even do that or do they just put approva or denial on the file. has anyone had their loan mod. approved this way? thanks for all your advice.

[cbriones]

Hi I Am In The Process Of A Loan Mod My File Was Finally Given To A Neg 3 Days Ago How Long Do You Think That I Will Be Hearing From Someone..

[jennifer123]

are you also w/asc? they told me it went to the negotiator on 7/15. that is why i am hoping the notation from today that states approved is regarding the loan mod. and not the completed forebearance form last month.