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Nationstar Mortgage / failure to apply payment to principal

United States Review updated:

We paid an extra $1000, on top of our scheduled payment, but only an extra $334 was actually applied towards principal. We have called and asked for an explanation and were told that "they thought we were making a payment towards the next month", though we wrote the extra amount in the field designated for "extra principal." The customer service person assured us that they will take care of it the next business day. Almost a month has passed since we made that call but nothing has changed in how our previous payment was applied. Today, we sent out another check with $1000 extra to be applied towards principal. We even highlighted (we were told by customer service that making it clear might help) that line. Can someone help? Does anyone know what to do in this situation?

Li
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Comments

  • Je
      Feb 09, 2012

    file a complaint with your Attorney General! Please! They are causing so many people so much hardship

    0 Votes
  • Hp
      Feb 26, 2016

    They are doing the same to me. I got an 801 over payment check from escrow that I had to call and have them apply towards principal. I also found 3 more extra payments that they took interest out of. Is there any recourse that you don't have to babysit the account, other than re-finance through a different institution? I didn't have these problems with US Bank.

    0 Votes
  • He
      Apr 29, 2018

    Everytime I make a principal payment to Nationstar that is bigger than my house payment they don't apply it to the principal; they make the next months regular payment and what ever is left over after thay they apply to my principal. Pretty sure that is called Fraudulent Scheme. When this happens I have already made my house payment for that month and I have clearly checked (and printed out) the box that makes this extra amount specific to be a principal payment. They don't care they just make a house payment for the next month with the interest to them. FRAUD Now if you make and additional payment to Principal "( that is less than a regular house payment) they credit it properly as a Principal Payment; but if that Principal Payment is one penny over the house payment amount they will make a future house payment instead of a Principal Payment, so they can pull out their interest. They are playing with the money.

    0 Votes

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