Check out this stry about americas servicing company. Basically they said in this stry that americas servicing company was very helpful in their mortgage servicing.
Enjoy
I have a 2/28 arm loan with a first addjustment in March 2008 and every six months afterwards. Iam expecting my first adjustment to bring my loan up by over 1100 a month. I am current with my mortgage payments, I was never late. My concern is when my mortgage payment will jump I definetly know I will not be able to keep my payments current. My mortgage servicer is America’s Servicing Company aka Wells Fargo . I have read many negative information on both companies on various forums. Honestly I have never had a issue with them. I feel very comfortable the way my payments are being processed and posted to my account. Yesterday I have recieved a very interesting letter form Asc Aka wells fargo about my good handling of my mortgage payments and to let me know that my arm will adjust soon. They are offering me “options” to better meet my financial needs. I contacted their 800# and talked to a financial advisor which asked me many financial questions like: income,credit card payments. car payments, savings, household expenses etc…. She took all my information and told me to call their “arm” mortgage specialist to discuss my options and I need not to worry because they will try their best to help me stay in my home. I will call them later today .One option available is refinancing. I have tried to refinance but I wasn’t able to to due to the fact I have very little equity in my home (3%). Home values in my area have dropped significantly and it seems not to get any better.
I was wondering if anyone else has recieved a letter similar to mine by their mortgage lender or have tried to contact their lender regarding their arm?
If so what were your options?
I want to add if you know that your mortgage will adjust , contact your lender asap to sicuss your options before its too late. Have all your financial situation available to share with them. Be honest about everything and show them that you care about your home and you have intention on living there for a while.
Im sure many options are now available , because lenders prefer to keep you as customers and not take your home.
I will keep you posted on my situation once I make the phone call later on today.