Americas Servicing Company ripoff Americas Servicing Company Property Loss Department Springfield Ohio
Cusomers beware!!!
My mortgage was sold to Americas servicing company on April 1st, 2006. My house was destroyed by fire on April 7th, 2006.Americas Servicing company has had my insurance settlement of $235K for appx. 2 months. They have made it next to impossible for me to start new construction of my new home.
For a multi millon dollar company, I cannot beleive how ignorent they are because they beleive a modular home is made out of tin.
They have not only informed me that my $235k funds have been in escrow for 2 months, without interest, but they are now requirering me to give them an appraisal on my house that is no longer there because it was torn down due to a major fire, they also want me to give them an appraisal for the house that I am intending to build that is not existing at this time.
They will not disperse my funds unless I submit this material which is almost impossible and have been prolonging my rebuilding processes unnecessarily.
I have jumped through all their hoops and written multiple letters, have documented value estimates from local real estate companies, given them contracters specs, floor plans, as well as having my builder contacting them personally and have gotten absolutely no where.
I have informed them that I have been in contact with other mortgage companies and have been pre-approved. They were not concerned about this information. But when I asked them for my payoff amount, per diem amount and my escrow balance they would not furnish me with this imformation and would only send it to me in the mail.
So, Consumers Beware!!!!
If you are being serviced by Americas Servicing Company your best interests are not protected. Your Home may be in jepordy.
Live and learn....the hard way!
Lori
weymouth, Massachusetts
U.S.A.
1 Updates & Rebuttals
Lori
weymouth,Massachusetts,
U.S.A.
Americas Servicing Company Property Loss Dept
#2Author of original report
Sat, December 02, 2006
It has now been 8 months and I still have not got anywhere with the property loss department. They still are holding my $235K.
Insurance money in a restricted escrow account earning no intrest, they still will not allow me to build a modular home even though I have gotten an appraisal for this house that exceeds my original home that was destroyed by fire. They will not allow me to stick build a smaller home and apply left over dollars to my mortgage. They only tell me that I am allowed to stick build the exact same home that was there before (they say that now but why should I believe anything they say). I cannot rebuild the exact same house that was there before because it was a 300 year old post and bean antique colonial and I do no have enough fund to replicate that. My insurance coverage for my temporary housing has expired so I now have no place to live. I am still paying my full mortgage payments without the 235K applied to anything, they refuse to apply this to the loan and told me the only way I can get out of this is if I pay them the remainder $45K I owe on this loan.
I HAVE RETAINED A LAWYER AND I AM GOING AFTER THIS COMPANY, PLEASE WISH ME LUCK WITH THIS BATTLE....THIS IS AN OUTRAGE AND THEY SHOULD NOT BE ALLOWED TO TREAT PEOPLE THE WAY THAT I HAVE BEEN OR HOW OTHER PEOPLE HAVE ALSO BEEN VICTIMIZED....IF ANYONE HAS ANY SUGGESTIONS OR INSIGHT PLEASE REPLY.
STILL BEING ?#@$*!