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Nationstar Mortgage / business practices

1 Lewisville, TX, United States Review updated:

I have read alot of the complaints on the board about Nationstar Mortgage and now I know I am not alone in the abuse they have treated thier customers with. If there is a lawyer out there who would like to make alot of money, here is your chance. I think a class action suit against Nationstar Mortgage is what is needed to get this company do do business legally. I will be glad to join any suit against this company. There are just too many complaints. Check out the better business bureau website, there is a list of them there too. I got my loan from GMAC in September of 2007. My loan was sold to Nationstar in September of 2008, with them taking over the loan in January 2009. I lost my job in March of 2007 but was current on my payments up until July 2008. I got my CDL and started driving truck in July 2008 and left my daughter and my checkbook with my sister to pay my bills. I had my check direct deposited into my account. I found out in October 2008 that my sister wasnt making any payments to any of my bills. I called my daughter reguarly while on the road to see how things were going. This phone call in October she told me she was really cold cause the heat had been turned off. I contacted my dispatcher and was able to go home. This is when I found out everything was behind. I was able to put applications to different places and was finally offered a job so by the end of Novemeber I was off the road. I had a paper from Nationstar saying they would foreclose unless I went to a credit counselor and there would be a 90 day stay. I worked with Nationstar to try to get my account up to date. Now my original loan payment was 336. a month. I paid taxes and insurance. Since September 2008 when they bought the loan they started attaching escrow in the amount of 423. In January they said I was a little over 4, 000. behind in my payments. They had said about loan modifications and stuff but they never appeared. I sent them money requested to stop a forclosure by western union in the amount of 2200. and another 700. payment that they requested. I was called again about a loan modification. They took all the information and never called me back. I called them and was told from the representative that they felt I couldnt afford the house and that I should just sell it. I said I could afford it and I wanted to get it paid up but it was gonna take me a little time. My next bill they raised escrow again to so my payment had went up from 336. to 797. a month. Two bills at this amount and then it went back down to 759. I continued to send them 800. a month to try to get the balance down figuring every little bit helped. I was within 300. of being current. I started getting charges to my account with no explaination. I called and asked about these charges and was told they were charges that were forwarded to my account but that was it. No explaination of what the charges were for. So with these new charges even if I paid more than what the minimum payment was, the next month the charges were more. In July of 2009 I recieved a letter saying as of September 2009 were account is $$$ behind. How can they send me something for September in July? In September and November they never credited my account and never cashed the checks either. I have no idea where they are. They say they never got them. My January payment was not credited to my account. They have acknowledged receiving this payment because they have it listed as a credit but as a partial payment to be used later. I received a phone call in January from a rep about loan modification. She asked me all sorts of questions and wanted to know if I could send 600. on the account. I told her I had just sent the 700. She took the check number and all that stuff. She asked about when I could send the 600. I told her in February when I got my income tax back and that I would have the account current by March 1. On February 4 2010 I sent them a check for 1000. It was never credited to my account. When I called about it I was told that the check had been recieved but was not processed yet because they wanted to do a loan modification. I would have to send 759 by western union or money gram by Friday February 19 and call him back on Monday the 22. I did this. I called him back on Monday three times, on tues two times and on Wed but he never called me back. I ended up calling the 800 number and talked to whoever answered the phone and explained who I talked to and what we talked about and they told me I would have to talk to him. I said I have tried and he wont call me back. The person I talked to then transferred me to the original guy. He verified that yes they had received the 759. and that he was still working on the loan modification and he would call me back. Of course he never did and it is now March 6, 2010 and I cant get a hold of him either. With the 1000. check I sent on the 4th of February and the 759. that I sent on the 19th of February plus the 700. that I sent in January brings my account up to where I am only 132. behind. Well guess who shows up at my door on March 4th. Yeah the sheriff with foreclosure papers. Has anyone ever heard of a home being foreclosed because the account was 132. behind? That is One hundred and thirty-two dollars. I am just like what the [censored]. I am contacting everyone I can, the Better Business Buruea, my attorney general and state representatives and the whoever that oversees mortgage lenders. Oh one thing I forgot. I was also contacted by an insurance company who told me that they hold the insurance on the loan for my house. Is it customary for a company to take out insurance on a loan in case the borrower doesnt make the payments? Seems odd to me.

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  • Mb
      29th of Jun, 2010
    0 Votes

    I have never been so humiliated and upset with a company. I have been in my home for 12 years. Never missed a payment, always paid more towards principal I was at EMC, and transferred around more than I can remember, never had a problem getting my account properly corrected if anything went wrong, until now. This is my first transfer where no one seems to know anything about unfair business practices. I was transferred last month to Nationstar from EMC, first they did not reflect my modification lower interest rate I did with EMC, said they did not have any paperwork. I called EMC, who said they sent it with the transfer. First problem, Nationstar lied to me. I emailed them my modification paperwork. Then they said I needed to make a payment first. I did, they got it and cashed it, but never applied it. I emailed them the cancelled check. They changed my account. Thought "way is everyone having problems with them, they did what I asked them." Well, I finally got online to my account, 30 days after the loan was transferred, and found out they applied my payment 10 days late, which they think I was stupid and did not know that that added more interest because interest is accrued daily. Then I noticed they applied $2.00 from my principal payment to something called other charge. I called them up and spoke with the most arrogant individual saying first that the charge was for processing, I told him no I paid by check which has no processing fee, then he put me on hold, came back and he said it was a one time charge Nationstar charges for transfers, I told him no, I don’t pay transfer fees for one company to buy out another's loan, and for him to credit it back, then he put me on hold again, and came back saying this was a charge EMC made to them at the time of transfer and they just are having me pay it, I said no, I have NEVER paid transfer fees in all my loan transfers, and asked him to have them put it back to my principal, and back to the day I actually paid and they cashed the payment-day days prior, he said the company would not do that and to deal with it. I was guessing the company was hard up and needed the money. I told him I wanted to speak with a supervisor, he said there were none on duty-why did he put me on hold? then I told him I wanted one to call me back, he said that this place I called was an inbound call center and they could not do that, or make outgoing calls. Can you image for this stupid $2.00, and a couple of bucks of interest I was starting to get angry. Now its has to do with the principle of it all and I wanted their help. I ended up hanging up on him and emailed the guy that helped me with the correcting of my lower interest rate problem. I am still waiting for an answer. But then I noticed the online account showed that the payment wasn't even reflected until 10 days after payment. This has been frustrating to say the least. Well, they don’t know I work for real estate lawyers, and have talked to them. They said they would help me for free to correct this if Nationstar does not comply. I just had to vent this and tell everyone my story. But there is an even duped problem that Nationstar refuses to know. I cannot refinance or sell my home because several years ago, I was duped into buying a business and taking almost all my equity out of this property, it was a lot, Unfortunately, I had lost that business not knowing I was duped into that mess too, I ended up having to file bk and saved my home, but a year later, the housing bubble burst and my house is now worth $200k and my loan is $375 (the original loan before modification was at 8%, I was able to modify for 4 years with EMC for 4.375%) or I would have lost the home again. If this does not get resolved, I would end up giving them the house back. Voila, they now lost $175k on this new loan. But I want to stay here for the rest of my life and would be willing to pay my mortgage on this home, unless scammed again. I am hoping I don’t have as much problems as some of you. I did note the president of Nationstar's number on one of these emails below, and have it in my records just in case. I would hate to give up and give it back, but if they are so greedy to nickel and dime me, I will. Thanks for listening.

  • Le
      20th of Jul, 2010
    0 Votes

    We lost our home in 09 little over a year after they took over for gmac on our loan. Among a long story of attempts, waiting, and lies we started our trial payments.(they told us not to pay until these started, it was one month) After doing the trial period western union payments a total of 3, they rejected our first regular payment which was Dec 08. They than threw us into foreclose, I didn't even know until someone came to our door Christmas eve wanting to buy it. I was confused. They wanted all the money or nothing and we did not have that so they moved in it and we got a realtor and moved out. They wouldn't except a short sale from a buyer, but they told us to do a deed of lieu, they never sent papers and when we finally got a hold of them they said they never spoke with us. It was the same guy! So we got him to say he would send again and again nothing and no luck contacting, we lost our house and they foreclosed us. I now will never buy a home again, this was our first and a home we made for our family, as we purchased right before I was due to give birth. Never again will I trust a mortgage company, we had to up root our newly started family. I can only imagine the pain others went thru and my heart goes out to you all. This was in MI, we now rent a home in TX and our rebuilding our family dream, but it was not easy since a foreclose puts ur credit down the drain.

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