Complaint / review text:
I received a letter from America's Servicing Company which is a subsidiary of Wells Fargo Bank explaining that I am eligible for a mortgage loan modification that could assist me in making my loan affordable. I currently have a loan with an ARM interest rate of 9.25% which has made my loan unrealistic and above 31% of my income. I have lived in this house for approx. 20 years and could afford this mortgage under the President's Loan Modification Program. I qualify and am very willing to work with my mortgage company. My biggest frustration is that ASC does not bargain in good faith. I am not sure as to who actually owns my loan. Upon contacting Well Fargo, I was informed that Wells Fargo's Modification Department handles all of the loans. Yet I receive false promises from ASC customer service dept.