Mortgage Forum

Mike

Hello, I have a question and ASC can't see to answer it. I was approved for a loan modifctaion on March 5th with a contribution amount of $1400 and mortgage payment extended from march to May 1st...ok Now on May 1st I call Asc and try to make my monthly payment of 4649 through their system which didn't allow me to do so and I was transfered to rep which told me that since I had made a contribution amount of $1400 I needed to pay the difference which was around 3200 and he took my payment over the phone. I did explain to him that this was my first payment and he told me since a modification is in effect I was transferred to the ART Team who was taking care of modification and the very nice lady told me that I needed to make the full payment of 4696 and she was able to take the remaining payment over the phone waiving my fee. I recieved confirmation # 's for both transactions. Then I looked over the payment amount and since there is a shortage of escrow of about $13.00 I called Asc again and made the payment over the phone ,fee was once again waived, even though it took them a while to go figure out the escrow shortage. Any how As of Yesterday it is showing my payments but their system show that I still need to make a payment on May 1st. I immediataley called ASC and spoke with a rep which told me that my case was with loss mitigation and was transferred to them. They told me it shows that I made my payment and it hasn't been applied to the account but in a suspense account and she then told me that I need to speak with collections and was transfered there which told me that my account was current and that I actually didn't need to pay the full mortage amount that the diffeence has been applied to a suspensce account. I asked her why hasn't my payment been applied to my principal etc. and she then transferred me to the art dept. and I asked them why is it still shwoing that I need to make a payment for May? She put me on hold for over 20 minutes to come back and tell me that it will take time for them to apply it and I am current and my next payment is due June 1st. She also tried putting a note in the system for them to apply the payment to my loan but she said since it is a modification she couldn't do it and that I needed to be patient and that it will be applied soon. Then I asked her if I was going to recieve my statement for June and she couldn't answer me. I want to know what is going on and why are they keeping my payments in a suspence account?