NATIONSTAR COMPLAINT:
Submitted: December
2014
Reported By: 1RabidRabbit in California
We have applied since beginning of 2013 for mod.
was given a forbearance payment schedule. after 2 mo we were no longer
qualified for the program as wife went back to work. we approached and notified
Nationstar about the situation. the rep said that we were correct in our
assessment of the situation and that we would have to file for another mod. our
rep asked if it made any sense for us to continue with the payments, and was
told "No since we no longer qualified for the forbearance program. at that
point we stopped making payments, and was of the impression that we had to wait
another 60-120 days to file for a mod as that is what was required in the
beginning and we were of the impression that we were considered, at that point,
up to date on our payments.
We submitted the new mod request and were told it
would be 30 days or more before underwriting finished with the docs. We thought
everything was going ok at this point. Then we were turned down as we were told
that we were, in their words, 300 short on our income. We were able to increase
our income, and resubmitted, this time along with the hardest hit fund backing.
Long story short, we have submitted 4 times for a mod. In that time we went
from being underwater on our mortgage appox 50-60% to having an equity amount,
according to them and the comps in the area of between 2-15000, depending on
who you ask. But the ultimate kicker is that they told the Hardest hit fund
program here in CA that we were turned down because we were delinquent on our
forbearance program.
WHAT!!! That was the first I heard of it. Then they told
us. I have tried to reason with them over this, saying that we were only doing
what we were told to do by them and also our understanding of what was told to
us, but in no way did we default. They have our house on the block for (get
this) 1/07/15 and for 8000 more than what we owe on the note. I have offered to
let them get this place appraised for an actual value, and have been on the
phone with their reps on several occasions trying to reason this out with them.
We have lived here for over 13 yrs and, it's not so much the house, as it is
the neighbors that we feel are being ripped away. We did what we were told. We
bent over backwards for this company to meet their demands. This was not a decision
we came to easily as it took us 2 months agonizing over the decision to apply
for the mod. The Hardest hit fund for this state approved us 3 times. 2xs just
to reinstate the loan. They still said no even though they would have gotten up
to 25000 that was back owing.
It does not make sense since having a loan
working makes the company money, not foreclosure. I'm just confused, mad, and
downright disappointed in the program that was supposed to help us improve our
situation and stay in our home. I still don't get it. Can't afford a lawyer,
but I don't understand how we could have been turned down in the first place
when the money was available from the fed to offset the difference of the loan.
Do they get to turn people down and still pocket the money? I feel like they
were just waiting us out. I want to keep my mortgage and house, but at a rate I
can afford and in the program I was originally qualified to apply for.
END
CONSULTING ADVICE:
I am so sorry that you have been a victim of
Nationstar Mortgage as it is easy to see that your consumer rights have been
violated at a minimum not to mention your constitutional rights most likely. It
is unfortunate that Nationstar does not patrol their own yard so to speak but I
can assure you that there is assistance out there for you outside the walls of Nationstar as outlined below.
Furthermore and in my personal opinion, I believe
that you get better and swifter results using regulatory and government pressure
versus a lawsuit that Nationstar is already prepared to fight; in essence, you
catch Nationstar off guard by going around them and basically beat them at
their own game. Unfortunately, it is a game and you will need to arm yourself
with knowledge and the a
ppropriate documentation in order to achieve the desired results.
The fact that Nationstar Mortgage is not only
blatantly breaking the very rules that protect you as a consumer but also falsely
denying your mortgage assistance requests is not only absurd but egregious and
abhorrent…the exact definition of Unfair Deceptive Abusive Acts and Practices
(UDAAP). Nationstar is at a minimum violating your consumer rights and laws
governing mortgage servicing behavior that went into effect on January 10, 2014.
You can learn more by visiting the CFPB's website
and becoming educated about the rights afforded you under the FDCPA, Dodd-Frank
and RESPA via the CFPB. Here is a link to the current rules that went effect in
2014 and stronger rules are forthcoming in 2015: http://www.consumerfinance.gov/newsroom/consumer-financial-protection-bureau-rules-establish-strong-protections-for-homeowners-facing-foreclosure/
We routinely look for posts to answer in hopes
that it will not only bring optimism to those homeowners and borrowers in
distress but also some basic information to assist in fighting the banks that
are "too big to fail" but yet don't appreciate the bailout that we
provided in their time of need. The debt collectors like SPS, SLS, Green
Tree, Ocwen and Nationstar are simply just piranhas but they can be beat at
their own game too just like the big banks can be defeated.
Thank you as I commend you for taking the first
step in asserting your consumer and constitutional rights by complaining about
the situation in an effort to shed light on the abuse and encourage change. With
that said, you have overlooked the key aspect to your fight, which is putting the
violations and abuse in writing in the form of a proper QWR and attaching proof of your consumer and constitutional
rights that have been violated; they have certainly been violated in this case per
your posted complaints.
A QWR is an integral tool in getting what you
desire and all of the aforementioned mortgage lending and debt collection
companies MUST answer your Qualified Written Requests (QWR); if they refuse then
you take your fight to all the regulatory agencies outside of Nationstar that
assist in fighting for your rights like the CFPB; it’s a shame that these more
than profitable and previously bailed-out companies engage in this type of
consumer abuse.
I would be more than happy to educate you as to how
to fight for your rights as my firm routinely seeks out complaints online so
that we can educate as to how to fight back on our weekday show called "The Daily Complaint”
where we review a complaint and how to tackle it successfully.
We reviewed your complaint on the show if you
would like to listen, visit www.TheDailyComplaint.com
As mentioned above, you can learn more by
visiting the CFPB's website and becoming educated about the rights afforded you
under the FDCPA, Dodd-Frank and RESPA via the CFPB. Here is a link to the current
rules that went effect in 2014 and stronger rules are forthcoming in 2015: http://www.consumerfinance.gov/newsroom/consumer-financial-protection-bureau-rules-establish-strong-protections-for-homeowners-facing-foreclosure/
In the event you have further questions, you can contact
me via email, web or phone (full contact information is below) as I would be
more than happy to answer your questions and point you in the right direction.
Every new beginning comes from some other
beginning's END
Respectfully,
Dana Shafman
Managing Member
END Consulting
(888) 234-7006 Ext 101
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