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Nationstar / terrible company

1 United States Review updated:
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I did not go to nationstar voluntarily. My mortgage company sold our loan. Our original mortgage company was GMAC we were trying to work out a loan refi with them because of multiple changes in our life ranging form job loss illness and death in our family. We had been late on multiple occasions. They told us if we could keep up the payments for a year that they would revisit the the refi.

Well we managed to keep up for a year through many hours of overtime and borrowing some money from family. After 12 mos they sold our loan to Nationstar. That is when the trouble really began. Nationstar started out by sending us an incorrect account # for our loan and then we were late with our payment I was able to catch that up. I contacted a firm that helps with home modifications and have been trying to work that way.

Nationstar kept contacting us offering us proposals for a refi, they sent two proposals with the agent saying that it would be better than a loan mod. We told him we didn't think we would be eligible but he insisted and sent them anyway. The day after we got the two proposals we received a letter that our loan application was denied. Well I thought they were just proposals according to the agent that called us.

About a month later we received a letter asking us to sign a form stating that we refused their loan offer. This totally confuses me. Our loan modification was denied because we were current on our payments. Well now I have lost my overtime and my company made an across the board 10% pay cut for all employees. I will never be able to make my payment and these people are so hard to contact never mind get the same person on the phone.

I know the static trick we heard that one and heaven knows we have been transferred from department to department and no one has any record of the calls. I work at a veterinary office and I know that we keep better records then these people do. We are accountable for every phone call that we receive. It seems impossible to get any help from this company. They have no trouble keeping track of late fees.

I am hoping that they are going to re consider the loan modification but from everything I am reading about this company there only goal is to get as much money as they can regardless of how they get it. I just hope not to lose my home in the process.

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  • Ra
      4th of Mar, 2009
    0 Votes

    I agree that this mortgage co needs to stop lieing and all of us with this co should get a lawyer they are very rude. and could care less if you are telling them the truth or not they told me that if i made a payment befor the end of the month that i would qualify for what they call 5 by 5 loan modification after i made the payment by money gram call them to let them know i did what they asked they told me it was the end of the month when i made the payment so now i would have to make another one to get modified this get money out of you tacs work for them so well plus get this when you ask to talk to lost and mitigation they dont let you the collectors tell you they have the same trineing as the higher ups we all know thats a bunch of!!!

  • Pa
      10th of Apr, 2009
    0 Votes

    I had the same problem with GMAC. In fact was registering for their accelerated payment and was to restructure into this option. Spoke to several folks in India - did what they told me - but they reported to the credit agencies that I was more than 60 (in fact 60-90) days late - when in fact I'd been paying half the mortgage every 2 weeks. Finally began paying them directly through their website and never had another problem-- until they sold the note to Nationstar.

    It has been a nightmare ever since. I had to use my rights under RESPA (I'm in PA) to find out where the taxes had been sent and monies from escrow. On December 10 2008, I was notified by GMAC that they had sold my mortgage in November 2008 and the payments should be going to a different mortgage lender - no Nationstar. I received a mortgage bill from Nationstar on December 15th, Nationstar began our relationship by stating I was 2 months in arrears. I quickly contacted the State Attorney's office and quickly began sending certified letters to GMAC and Nationstar.

    When I mail a payment, since they have no electronic means, I used USPS tracking confirmation - which I send each month to refute the late charges assessed. I have now set up an electronic bill payment through Bank of American and have the amount taken out on the same date each month --10 days before the past due date.

    Bank of America has agreed to dispute any further allegations of late payment with Nationstar. They are rude and immediately treated me as if I was in collections. I have changed my home phone number after being harassed and told to go to Western Union to make a cash payment. I'm not going into an urban area at night with $2800 in my pocket to pay a mortgage because the company doesn't have a regular mail pickup to their post office box.

    I've written my senator, state legislature and spoken to all my friends & family members warning not to deal with Ditech, GMAC or Nationstar.

    I'll keep you posted as I'm trying to get refinanced - but it's hard with all the erroneous information sent by GMAC and now Nationstar.

  • De
      31st of Oct, 2011
    0 Votes

    Bank of America sold our mortgage to this Nationstar back in Sept. 2011 and we still have not received any papers or payment coupons. After several phone calls we were told that we should get our payment book in the mail very soon, just use the B.O.A. coupons until then. Well we are going on the second payment and still nothing has been sent. I do not trust this company all ready !!!

  • La
      19th of Sep, 2013
    0 Votes

    in August of 2012 .I surrendered my property to bank of America, they put me into a short sale program .kept losing the information, They continued that until June 2013 .I had a realtor involved and even had a buyer. The paperwork was never finished for buyer, and in June 2013 I received a letter that my loan connected to the property was turned over to Nationstar. The paper work wasn't all turned over to Nationstar yet. Then I was told to start over with the short sale program. After a month my realtor received a letter that the house was up for auction now, I had a contract with a buyer and the realtor at that time, Well the bank said it doesn't matter its on the auction block. Then in the same week I get a letter from some lawyer that is with Nationstar bank. that they are foreclosing. So now I don't know who is doing what with my house. I think this is going to be going on for a long time, due to the fact that no one seems to on the same page about it, and in the meantime my credit is down the dran
    laurie bower

  • Cr
      9th of Oct, 2015
    0 Votes

    How long can these organizations continue to commit fraud in every way possible. The government must support their behavior because no one has been convicted they just pay fines that only the government benefits. Not one citizen has received compensation. I say get rid of them all and start sending someone to jail. Their no different than Madoff.

  • Wh
      9th of Oct, 2015
    -1 Votes

    Did you overdraw your checking account again?

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