AmeriSave

You can't leave a review on their website even after being a customer for a couple of years. Isn't that weird? I've had mortgages through Chase and several other places. Never have I ever had a notice that informed me of an escrow shortage, receive my payment to cover the shortage, but still raise my payment for 40 more than my costs increased for the year.? So, I sent 1400 to them for a 1067 shortage, just to be certain I didn't pay interest on the escrow money. My payment would go up 300 per month for a year to cover the 66 per month increase.? So I sent more than enough to cover the shortage, my payment should stay the same. They are still taking 187 per month for the escrow, so the 1400 I added to that is 116. Per month on top of that. Now I am still paying an increase of 110 per month? So 187 was enough last year. 116 per month extra paid up front and 110 per month is for? Because they can? I have a low fixed interest rate. The payment should go up so drastically unless there are hidden fees. I was sent a letter obviously meant to confuse me. Telling when they had to pay what and why. It was absolute CRAP! The fact is the amount of 66 per month has cost me 240 per month. The explanation is, "You just don't understand how we apply the funds". Obviously I don't. It is total BS and I'm filing complaints with the Consumer Finance Protection Agency and several others who they hand cases like this to when the answer is such obvious BS. I will find another lender as soon as I can, but I would not EVER recommend you climb in bed with this bunch of snakes. I realize that suddenly the banks charge more than the mob did in interest in the 80's and they feel fine about themselves. But Chase has never in 24 years done this. They sent me a notice of the increase in my taxes and ins. This year on my other home and I sent them 600. My payment WENT DOWN! Explain that one Amerisave! They act like they are the cream and you are so lucky to have them around. No, don't buy it. They are money grubbing $#*!s that act like you're stupid if you don't just say, "Oh, OK". That's what they are counting on! There is no such mystery in the math. Plenty of these types of businesses rely on you not trying to understand your payments. They will send you confusing information about when they "dispersed" this or that and they will add in other things about how this year you owe more and we will send it on this date. Whatever! It is nothing but a myth! It's the same as those retirement programs that make up all kinds of mystical accounting and make up names for charges and then hide all their underhanded crap and make you think you are just never going to be able to really get the low down on this without just trusting them... yeah! The mystery is how stupid they seem to think people are! BEWARE!

My AmeriSave Complaint:
I wanted to refi my 1st only and leave heloc open as it is estranged husband's debt. I specifically asked prospective lenders if they are willing to subordinate the loan with the holder of the 2nd. I even asked if there was a situation where they would not subordinate. They only said "it just depends on the other bank's policy regarding subordination."
The loan-to value ratio is an incredibly low 16.7%! My credit rating is 780. After three weeks of the most rigorous document demand of any closing I've ever been through (including 3 business property closings) they denied me because the heloc had a pre-payment penalty. They won't subordinate when there is a pre-payment penalty. They conveniently forgot to tell me that when I *very specifically* asked about subordination and what would prevent subordination.
Two bankers at Wells Fargo told me AmeriSave never even *requested* subordination, only *payoff* information. Secondly, I'm in the 2nd year of the heloc and the pre-payment is a whopping $500 at this point. And besides, *I was not going to prepay*
Can you say *smoke screen* *only interested in the up-front fee*? Plus they recently lost a lawsuit regarding other misrepresentations. Beware! If already in process get a Buyer's closing attorney and owner's title insurance to protect yourself at the very least!
BBB Complaints (despite questionable "Grade")
According to the Better Business Bureau, Amerisave mortgage had 145 complaints filed during the past 36 months and only 57 of them were resolved in twelve months. Searching Google for Amerisave mortgage complaints reveals 684 listings, which could be worth your time in reading.