Mr. Cooper review: fraud 11

SCAM to get GOVERNMENT MONEY! We have to do something to stop these crooks from leading consumers to believe they will get a modification, and once they receive the money from the government they leave you out in the cold. They increased my mortgage payment from $1220 a month to $3600 a month, and force placed an escrow, after 8 years! This is crazy! After they told me my modification was complete and I was only waiting on my trial payments, I call back the next week and they told there's been a mandatory change to the HAMP program by the Government, and I need to pay $10, 380 to bring my account current or face foreclosure. They are very rude and every time I call they tell me something different. Not only that I have been paying my own taxes and insurance and they have me double paying my homeowners because of the force placed escrow. I called back to inform that I have friends and family that work for congress and there is no mandatory change in the HAMP program, it’s strictly voluntary for unemployed homeowners and a manager immediately got on the phone and stated they can no longer speak with me over the phone. EVERYONE PLEASE LET YOUR STATES CONGRESS KNOW WHATS GOING ON WHITH THIS COMPANY'S FRAUDULENT PRACTICES!

FILE A COMPLAINT ON NATIONSTAR NOW! This State Department is responsible for issuing them a license. They are in the process of investigating them.
Kentucky Department of Financial Institutions
http://www.kfi.ky.gov/complaint/

Just want to let everyone know that after almost two years negotiating a modification payment and always making payments on time, Nationstar finally approved my modification. I guess we should be grateful that by modifying our loan, we have been able to remain in our home. However, below a brief history:

Bought home in 2005 for $450, 000 - Put down $110, 000
Property prices fell down to $179, 000-$199, 000 (Riverside County, CA)
Loan balance when modification started $331, 000

NEW Balance after modification $386, 000! - This means that rather than lowering the principal to what actual home prices are (currently approx. $220, 000), The principal balance went up by $55, 000! This increase accounts for legal fees, short payments (modified payments), miscellaneous. Like I said, the modification has allowed us to stay in our home by reducing the interest rate and not charging interest on a portion of the loan which has been extended to 40 years and this portion will be paid additionally at the end of the 40 years.

What is going to happen if we had to move, we would not be able to sell under current prices without short selling.

Nationstar Mortgage makes you believe that you are in HAMP I was sending documents since beginning of August I was sending documents that they were requesting and sometimes i already fax them and sent over night had signature confirmation, they have stringed us along thinking we were going to get a trial period and boom the foreclosure is near and still asking for documents, we even got a letter saying while being reviewed our house won't be in foreclosure and it's going to be auctioned December 13th, 2010 and we filed lawsuit against Nationstar. On this note one hand does not what other hand is doing so we all need to start fighting that Nationstar Mortgage has fraudulent activity.

I am so glad you took the lawsuit route. I am actually going through the same process. Just thinking about what Nationstar has done to me brings on heart palpitations and raises my blood pressure. From very unethical employees, to supervisors who really don't give a crap about you, I can go on and on. The bottom line is that Nationstar is not interested in modifying your loan and will foreclose on you while at the same time promissing you a modification. The left and right hands sure do different things at the same time. Once my mortgage was tranferred from Citimortgage to Nationstar, I knew I was in deep trouble, since I've read all the horror stories that regular folks like me had to suffer at the hands of this monster. Don't let them get you and take your house unjustly. Please see a housing counselor or an attorney even if they do foreclose on you. You can get Nationstar audited and 10 times out of 10 they will be fined for bad practice and you may either get your house back or finally get them to work with you like they should have in the first place. Don't run from Nationstar! Fight back! Since they are crooks, you WILL win!

I am going to let these crooks have my house and they and their Fannie Mae investors will lose thousands. I was with Citimortage for years, and they were always excellent and professional. I called Citimortgage when my loan was transferred to Nations and they warned me I was in danger, the man I talked to at Citi told me of his personal experience with Nationstar, he lost his home to them. The house is worth much less than I owe and I can rent for 1/3 my mortgage payment, so I will survive and have more money for the fun things in life rather than spending it all on a house that keeps losing value. I've put several thousand in the house, but it's not worth dealing with these idiots for years to come, I can't refinance when I owe more than it's worth, and won't take the chance of being transferred right back to Nationstar. I wanted to downsize anyway so it works out and I'll spend less money on utilities, etc. Please remember, there is life after foreclosure and maybe even a better life for some of us. I got sick when I looked up all the horror stories online, but I'm excited now about moving on and being free from them and all the responsibility of owning a home. On another note, Nationstar does not "own" anyone's house, Fannie Mae owns our mortgages and the mortgages are pooled into RMBS securities and the securities are sold to investors. Nationstar is only the servicer, but they are authorized by Fannie Mae to foreclose. Yes, same Fannie Mae that received TARP (bailout) funds from "we" the taxpayers, yes, same taxpayers getting foreclosed on by Nationstar. How ironic. Great country we live in.

http://www.politicsdaily.com/2010/05/11/fannie-mae-bailout-mortgage-giant-wants-more-taxpayer-billions/

An addition to my previous post above. Please read this article. FNMA wanted more taxpayer dollars because they are facing more foreclosures but they are letting Nationstar foreclose at will. If anyone can explain this to me, feel free. Because I'm very confused.

Hey, we are getting sued too by Nationstar. After horror stories about the loan modification, I said forget it. Shelleycan, take it all the way with a lawsuit. Chances are they don't have a leg to stand on. If not, short sale the house. If Nationstar forecloses on you, they will get paid from insurance, then resell your house and get paid again. I believe these damn lenders have gotten bailed out, paid out etc. long enough. It's time us homeowners go after these crooks. BTW, where is your note?

I believe that we all need a class action suit against Nationstar. I was laid off and had to take a position paying 40% less annually. After exhausting my savings I applied for HAMP program in October 2010. I have been strung along, told that my mortgage would be reduced to 31% of my annual income numerous times and then after 7 months given an amount that no right thinking person would assume I could make. I made them aware that it would not work and was told, by someone stating that they were a manger, that I should make the first payment to buy me some time because they would foreclose on me within 7 weeks because Georgia foreclosures are fast. Last week I called and was told to reapply for help and resubmitted the forms stating that my income had changed. Today I spoke to someone who told me that once I made a payment, I was obligated to the terms regardless of way I did it and that a change in my income was not a consideration. My three options from them is to turn it over to them in a manner which saves them the most money. By the way, in the state of Georgia, if you are involved in a conversation, you can tape it. Someone contact regarding a class action law suit, please.

I have the same problem with Nationstar right now. I received my statement that had 2 late charges that were almost identical, except for about a 19 cent difference. When I inquired about it, they didn't have an answer, except to tell me that it was sent to them by my previous mortgage company, First Horizon, who transferred ownership to Nationstar in August, 2011. They have the worst customer service and I can never get anyone to explain anything when I have a question.

I unwittingly signed up for the “trial period” for a loan modification with Nationstar. As I did not hear back from the agent named on the “offer” letter I began to research their program to see if I could find any information on their process. Low and behold….volumes of complaints on any type of related forum and complaint board. So I immediately just went back and made my regular payments. I denied their offer after finding out their tricks. (Remember…their “collectors” are not that bright). That made them hunt for anything they could to intimidate me. I have three fax numbers for them – bankruptcy [protected]), foreclosure specialist [protected]) and research [protected]). When I fax, I fax all of them. I reiterate everything that was discussed in conversation as well as any response to any letters they send. I went to pay and the rep would not take my payment, said that there was a demand letter – I have not received it (of course), but found out how much is due and when. I faxed the rep asking to fax me a copy asap – to all 3 fax numbers! After what I’ve read I will submit complaints to FTC in Texas, State Attorney General (for CA & TX) to Consumer Financial Protection Bureau (I downloaded their listing so I can provide complain counts with my faxes), Texas Dept of Savings and Mortgage Lending, as well as a good number of the 488 state representatives. Here is where you can find that information. 1) http://www.sentate.gov/general/contact_information, 2) http://www.house.gov/representatives/ 3) http://tomas.loc.gov/home/state-ligistures.html 4) http://www.whitehouse.gov/contact/ . Lawsuit: Triplett vs Nationstar Mortgage Settlement – google it to see if you can participate.

Get one of those online fax services so you can fax from your computer. Feel free to contact me – I’ve been researching and looking for more fax numbers – I’m making it a point to be heard! Good luck everyone.