Loan Modification, Why Do They Want Toxic Assets On The Books?
By: Elaine VonCannon ABR, SRES, REALTOR, NOTARY, PROPERTY MANAGER, TEAM LEADER
This is the third Blog I have done on this subject about the same client. My client has put in the 6th time for a loan modification on their 1st mortgage. They even go their lawyer to help them as the lawyer is best friends with my client. The lawyer has not charged my client for helping them. And still my clients are getting nowhere.
American Servicing Corp. is representing Leman who is an insurance company who is now in receivership of the government. They are the investor who is the loan holder on the mortgage note of my clients. They have refused to do a modification of my client loan. So I ask you and our Representatives in Washington why are they allow to make more toxic assets on the books when they a made a mess of their company and wanted mine and your tax money to bail them out and refuse to do loan modifications? Can anyone tell me or my clients?
My clients called today to see if American Servicing Corp. received all the correct documentation that was sent in the 6th time the 1st week in Feb. 2010. It was confirmed that they do have all the documentation they need at this time. In order to get this information the 1st rep they talked to was named Ann her employee ID # is TGN, she hung up on my clients when the asked for her employee number and they had to call back to get the number and to talk with a rep. This is the lost mitigation department of American Servicing Corp.
The 2nd time they asked the rep. to talk with a supervisor, when the supervisor got on the phone he acted like he could not hear my clients when they asked for his employee ID number. He hung up on my client. He did say "Oh you are taking notes". He then proceeded to act like he could not hear them. This is still the lost mitigation department of American Servicing Company.
The 3rd call my clients talked with another rep. who gave my clients Henry's employee's Id number, which is #UWC. My clients still wanted to talk with a supervisor and was put into a voice mail at which time there has been no returned calls. This is still the lost mitigation department of American Servicing Company.
NOW I ASK YOU WHAT IS MY CLIENTS SUPPOSE TO DO AND WHYT IS THERE NO HELP FOR THEM AND THOUSANDS OF OTHER TAX PAYERS AND VOTERS?????????
ONE LAST POINT ONE OF THE REPS THEY TALKED TO DID SUGGEST AN OBAMA PLAN WHICH WOULD LOWER THEIR PAYMENT BY ONLY 100.00 A MONTH FOR 3 MONTHS AND THEM THEY MAY OR MAY NOT BE APPROVED FOR A LOAN MODIFICATION.
DOES ANYONE HAVE ANY SUGGESTIONS OR KNOW OF ANY ONE WHO CAN HELP THESE PEOPLE?
American Servicing Company is owned by Well Fargo and there are countless websites on the internet about how they treat their clients and the lack of service on their part. ARE THEY NOT REGULATED BY THE FCC OR THE OCC? CAN ANYONE ANSWER THIS QUESTION??????
My clients both are self employed and are like countless others who are having problems with loan modifications due to this very reason.
Visit my web sites to view other listings at www.voncannonrealestate.com www.estatesinvirginia.com www.elainesrealestate.com You will also find articles and more information on homes, the Virginia real estate market and my team.
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