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During 2020 Covid, my salary was cut, Mr Cooper offered a 6 month payment forbearance plan. I only used 3 months and paid my escrow. I asked them how this would be paid back, the MC customer service told me, they can added 3 months to the end of the term or my loan or remodify my loan. In January 2021, the remodification of my loan began, after 3 months they mailed me my new contract. Ready for this? I only missed 3 payments. My new loan was at 3.75%, ready? for a 40 year term, adding $180, 000 more to my original loan payoff, my $348, 000 loan payoff would be $720, 000.00 in 40 years for missing 3 house payments. I called them and asked the rep if they would take this loan for missing 3 payments? I asked them what happened to adding 3 months to the end of my term? They told me that was not an option. WHAT? They tried to gouge me and thought I was that stupid to agree to this. Mind you, this loan did not include the 36, 000 I borrowed for a home equity loan, which should have been included by MC. I found Wyndham mortgage, they took both home equity and my outstanding mortgage, refinanced my home for 30 years at 3.2%, no points, cheaper them Mr Cooper on my primary loan for 40 years. Mr Cooper has the worst customer service reps, who do not know their jobs or services they offer and rude to their customers. Not to mention taking advantage of customers, for only missing 3 payments?
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My loan was just transferred or bought by Mr Cooper. I am pissed. I have excellent credit and have never ever missed a payment. I am furious by what I’ve just read about this company!
Refinance and do not deal with them -THEY ARE LIARS AND THIEVES AND WILL DO WHAT THEY CAN TO TRY AND STEAL YOUR PROPERTY. Everything I have read in here is 100% true as I have experienced it myself
Awful company that needs another hard slap from the feds.
Refinance with a reputable lender in your city ASAP!
We were affected in the Las Vegas Shutdown and took advantage of forbearance early on when we were not sure how long it would go on for and elected for a 6 mo "term" The option to roll the missed payments to the end of the loan was something the rep told us to lure us in. Later, the documents stated there would be no missed pmnts added to your loan "at the end". I used to handle all the bills in our family for YEARS. Since my husband was home I told him you take it over when he now home and had free time on his hands. My husband signed up for the program. They sent out a email he never got, explaining what will happen when this forbearance is over. Then they started calling him all the time, just to check up on how we are doing during covid. As the term was ready to expire the calls increased and he told them we will resume reg. mortgage pmnt Sept. 1 and you just add the amount to the end of the loan. MANY times he said this to every rep he spoke to. They would say, sure no problem, we will talk to you soon. And Hang Up. I called again today to get the story straight for myself and it was then I took note of what we had really done to our selves. She kept referring to us as "In default", "Past Due, and asked 4 times if our financial situation has been resolved. I said yes, it has...4TIMES. Well come to find out she is conveying to me that they will be reevaluating our ability to pay our mortgage based on 5 secret questions they will ask when we are ending the program. i said the program ends Aug. 31 2021. We are DEFINITELY paying our regular mortgage pmnt. Sept. 1, 2021. Well you can do that, she says, but you will owe $11, 573, 40 plus your escrow account of $1000.00 and the regular $1100.00 Sept. pmnt. to get off the plan. This is a scam to take people's homes. The Feds need to get involved QUICK before we have 200, 000 new foreclosures nationwide due to the actions of this ONE company. We are coming up with it any way we can and as soon as we are showing "current" with them we are refinancing ASAP.
They are the most corrupt despicable and stupid humans I have ever dealt with. I honestly don’t know how these people look at themselves in the mirror on a daily basis with what they do to people and their lives